Altcoin Season May Happen By End Of 2019
With Bitcoin’s market dominance currently at 65.5 percent, that is to say the over 2,000 altcoins have a cumulative share of roughly 34.5 percent. Fortunately, by the end of 2019 or at the beginning of 2020, the altcoin market share may increase due to an anticipated altcoin season if what Willy Woo projects. According to Woo, an on-chain analyst, and a partner at Adaptive Fund, the altcoin season is around the corner.
A Bullish Cross Shows Indicates An Altcoin Season Is Imminent
In a tweet, Woo said:
“This is one of my alt-season indicators. A bullish cross of the 365-day moving avg of [alt-coin market cap / BTCUSD]. It’s crude and imperfect, but easy to pull up on Trading View. Alt-season is not guaranteed, if it happens, I can’t see it happening till the end of 2019 / start of 2020.”
The analyst further noted that altcoins seldom attain a full bull or bear cycle. However, ETH and a few others are the only altcoins that have in the past seen this cycle from start to end. For the analyst, hodling altcoins is not the best options unless “you know what you are doing.”
“Key things to look for is a steady and sustained bull run in BTC with good on-chain volume. This creates a low volatility band in BTC/USD due to buy pressure muting all sell-offs. The current regime is not like this; it has been an exchange driven game of trader activity dominance.”
Other Altcoin Season Projections
Luckily, Willy is not the only analyst expecting an altcoin season in the next few quarters. Thomas Lee, a Bitcoin bull, and the co-founder of Fundstrat Global Advisors, is optimistic that altcoin prices will rally by the end of 2019. John McAfee, another Bitcoin bull, has his eyes set on alt-season in just months to come. For McAfee, altcoin investors are likely to enjoy stellar ROI, exceeding 10x once investors begin channeling funds to alternative blockchain projects in a diversification.
According to McAfee:
“Bitcoin cranking up, but the real winners, beginning soon, will be the altcoins 10X + the rise of Bitcoin. Top of the heap will be the ones most beaten down in the bear market – Docademic, Apollo, XTZ, etc. This is where the real money is to be made. Fill your bags folks.”
Small Cap Altcoins To Benefit
McAfee’s sentiments were echoed by a crypto maximalist, Heidi, who noted that this year’s altcoin season has some similarities with the one witnessed two years ago in 2017.
This ALT season reminds me of the early days of the 2017 bull. Some will pop, some will stay quiet until they don't. However I am now seeing a lot of small caps exploding higher. Check out this screenshot of coins in ranks 67-76. Get ready folks! This is only the beginning. pic.twitter.com/90lUdC8S82
— Heidi (@blockchainchick) June 25, 2019
However, altcoins with smaller market caps are the ones likely to profit more out of the fast-approaching altcoin season. All the same, for a satisfactory altcoin season to kick in, coins with a high market capitalization like Ether (ETH) will need to keep a bullish trend. If they sustain the trend, “the likelihood of new money buying BTC to buy alts with seems like a very probable outcome,” noted a Twitter user.
CT_Crypto, a Twitter user, said:
“I am betting heavily that we have 5 months to accumulate.”