According to the Altcoin Season Index from blockchaincenter.net, signaling the onset of "altcoin season," now is indeed a good time for alternative cryptocurrencies. The index shows that 75% of the top 50 altcoins have outperformed bitcoin in terms of growth over the past 90 days.
At the beginning of December 2023, many crypto-enthusiasts were looking forward to the possible start of the altcoin season, but the season index was then rated at only 47 out of 100. This indicated that the altcoin season, according to the index, had not yet arrived.
However, as of January 14, 2024, the index has risen significantly to 76 out of 100, clearly indicating that the altcoin season has arrived. According to the index's methodology, when 75% of the top 50 altcoins outperform bitcoin in growth within 90 days, it is considered the official start of the altcoin season.
The last time this level was seen was at the end of August 2022. There is also now an increase in the dominance of Ethereum (ETH), which holds 18% of the market according to coinmarketcap.com, while bitcoin (BTC) is inferior with 49.8%.
However, despite the positive trends, questions remain about the length of this season, a possible slowdown in bitcoin's growth and its position in the altcoin market. The current altcoin season has more questions than answers, and there is less certainty than in previous periods. However, many leading altcoins are expected to outperform bitcoin in the coming months, although specific predictions remain uncertain.