Because of Bitcoin’s long-side movement, many bloggers are actively discussing the coming of the altseason. How to determine if altseason is coming, as well as the results of the first quarter of the crypto market, are discussed below.
So blogger @MarketWizard94 gives four signs of the alt-season coming soon:
In addition, blogger @bleezysmart brings up a classic argument related to Bitcoin’s decline in dominance. Here are two graphs from him with comments:
“This is a #Chart of BTC.D which means BTC currently takes 47.17% of the total crypto currency’s market cap which is a determinant on how alt coins move. It’s about to break a resistance which means Btc [sic] will see some major run soon but let’s see if it’s going to break it or not”
“One of the major ways of correctly analyzing is “going back in history”. This is the chart of BTCUSDT. The 2017 bull run and the 2021 bull run is [sic] taken into consideration. The peak of the bull before 2017 was the bottom of the bull run after 2017’s bull run.”
This analyst ends with this conclusion:
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History has repeated itself, exactly 371 days was the difference between the peak of 2017 similarly the difference between the peak of 2021’s bull run and this 2023 bottom is 371 days also the peak of 2017’s bull run. I believe we should be touching 35k-40k before the next bull run.
Nevertheless, we urge caution. The following chart clearly shows that BTC and ETH leaders are literally pulling all the liquidity out of the altcoin market, which is very small by comparison:
In addition to analyzing the likely future, let’s summarize the Q1 2023 results. Here are the top tokens by yield, as selected by two different studies.
Q1’s best crypto tokens by topic group:
#BTC was the leader with 60% growth since the beginning of the year. In L1, #SOL made up for most of its losses after the FTX crash, earning 100%. In L2, #OP hit record highs in February:
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