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3 key indicators traders use to determine when altcoin season begins

Published 06/02/2022, 02:15 PM
Updated 06/02/2022, 04:20 PM
3 key indicators traders use to determine when altcoin season begins
TWTR
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ETH/BTC
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BTC/USD
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It's widely accepted that the fate of the cryptocurrency market depends largely on the performance of Bitcoin (BTC), which makes times like these for crypto traders who prefer to invest in altcoins.

When BTC price is down, altcoins tend to follow, but as a bottoming process begins, altcoins tend to perk up during Bitcoin's consolidation phases and this typically leads to a call for an altcoin season. While Bitcoin's current dip below $30,000 shows that it's a bit premature to call for an altseason, analysts are still charting a variety of different outcomes that point to an altcoin season. Let's have a look.

ETH/BTC in 2016/2017 vs. ETH/BTC in 2021/2022. Source: Twitter (NYSE:TWTR)
Altcoin market cap. Source: Twitter
Altseason indicator. Source: Blockchain Center

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