It's been a rather wild ride this year for crypto with bitcoin moving from 25k to it's now holding rather steady at 50k-60k and peaking at 70k. But alt coins for a while now have only seen declines as of late and really haven't moved at all. While some projects did ok it was pretty hit or miss ranging from PEPE meme coins taking off and other new blockchains trying to push their way up like Solana.
But the overall altcoin season has been rather dead. With bitcoin bouncing around for over 6 months now the amount of money to be made there has fallen off and with other markets most likely going to take over now that the fed is starting to cut rates it's setting up a rather healthy rebound not only for the stock markets but also for the very real possibility of a alt coin market to get started.
There's also been a constant struggle with Ethereum and Bitcoin as of late which is starting to make people look towards alternative products aka altcoins to invest in for higher returns.
With fed rates going back down it will most likely mean cuts in interest on things like bonds and savings accounts thus opening up the doors for defi and other such crypto assets to have value to them once again as they will be paying a much higher dividend yield compared to the other options.
Bob Wallden - “Altcoins are higher beta than bitcoin and ether, so think of them as a leveraged play on the broader crypto market similar to tech stocks outperforming the S&P 500 (SPX) in time of green shoots,”
Altcoin Season
It's been predicted for a while now that we should be hitting a altcoin season soon. This is increasing in popularity as bitcoin continues to trade sidewise but holding it's grown. At this point investors often start to look to other places to start making gains.
While bitcoin will continue to trend upwards during this time it will do so at a relatively steady pace and not a heavy push higher or lower like we often see at the moment.
We have been seeing a number of altcoins start to increase and hold their values which is starting to show us signs that this case very well might be starting. However the funny thing with markets like the bull run is that you never really realize you're in one until it's almost over.
What altcoins are you most excited for this season? Let me know in the comments.