"Hmm, is the altcoin season about to happen soon or later?"
Unknowingly, altcoins currently led by memecoins and artificial intelligence (AI) themed cryptocurrencies have finally managed to outperform Bitcoin (BTC)) over the last week thus causing debate over whether the season altcoins has arrived or has not been triggered.
Altcoins shows significant strength when its total market capitalization rose above $1.1 trillion, so here it can be seen that its value over the past three months has jumped 64% from $697 billion to $1.14 trillion as of March 7, 2024.
Like to be informed that the hike proves that investor interest is increasing, hence the increase memecoin and AI over the last week could be a sign that The crypto market is now at the beginning of the altseason .
There is no denying the seasonal index altcoins increased over the past few days, but it is still not enough to declare a season altcoins plus the indicator shows that only 69% of the 50 altcoins have outperformed BTC in the past 90 days.
However, K33 Research thinks that could change soon BTC's subsequent rise to new highs saw its market cap double the value of all cryptos except BTC and Ethereum (ETH).
Independent analyst CrediBULL says the altcoin season won't happen until BTC pauses after breaking the previous all-time high then doubling within a few weeks, or altcoins immediately.
Even so, the founder and Chief Executive Officer (CEO) of MN Trading Consultancy Michael van de Poppe believes that the season of altcoins has not yet begun after that it still has 40% to 60% of the market cap before reaching the 2021 peak above $1.1 trillion.
On the other hand, the founder of Cardano (ADA) Charles Hoskinson is confident that the altcoin season will begin as soon as Dogecoin (DOGE) overtakes ADA in market capitalization.
