The Altcoin Season Index is the most important metric you can use to measure whether altcoins are doing well versus Bitcoin. Currently, it is at 19 which shows us that Bitcoin is still ruling the whole crypto market. This is a bearish signal, meaning that altcoins, on average, are doing worse than Bitcoin.
The Altcoin Season Index measures the performance of the top 100 altcoins against Bitcoin to show when they are dominating Bitcoin. A score greater than 75 would indicate that an altcoin season has begun. This is triggered when 75% or more of the top 100 altcoins outperform Bitcoin over a period of two weeks. A score of 25 or lower means we’re in a Bitcoin season. It’s during this phase that Bitcoin usually continues to outperform most altcoins.
The high reading of 19 on the Altcoin Season Index further highlights how strong Bitcoin is in the market right now. They turn to Bitcoin as the safe haven, pushing its price and further entrenching Bitcoin’s dominance.
Market analysts believe this Bitcoin “FOMO” (fear of missing out) rally usually precedes a big altcoin season. Bitcoin and crypto in general is all the rage right now. Consequently, altcoins may be on the verge of experiencing a renewed wave of popularity and appreciation!
Overall, the Altcoin Season Index is a useful tool for both traders and investors. It empowers them to better understand today’s marketplace and make smart strategic decisions to compete. It’s useful to gauge if altcoins are in a phase of outperformance so you can make prudent decisions on asset allocation and reallocation.
The Altcoin Season Index score of 19 shows that Bitcoin dominance is strong. This indicates that Bitcoin is still dominating the market against a huge number of altcoins.
