Alt-Season Begins – How the Markets React
What is alt-season ?
A period when most altcoins create over-returns from Bitcoin, creating a positive trend in the crypto market and a stable trend in the Bitcoin market. In this case, investors decide to sell their bitcoins and buy other cryptos, hoping for better and higher returns.
The altcoins that we should highlight during the first days of the altseason are Chainlink, Tezos, and Compound while Ripple enters the market dynamically, which usually moves in lower volatility levels.
In parallel, we observe a drop in Bitcoin’s dominance in total crypto market capitalization and a sudden rise in searches for the term “altcoins” in Google. The spark behind altcoins’ rise was a challenge in TikTok which challenges youngsters to buy DogeCoin to become rich in a few days. The craziness about it led to a general rise in the entire crypto market.
What will happen in the next days that will determine the next period for Bitcoin and the crypto market?