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Breaking News: Celsius Founder Alex Mashinsky Receives 12-Year Prison Sentence

Is Altcoin Season Around the Corner? Bitcoin Halving Points to Potential Boom, Analyst Reveals

Samuel Edyme
Samuel Edyme
10 months ago
4 mins read
Is Altcoin Season Around the Corner

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Although Bitcoin recent price plunge has sent several Altcoins on a free fall, with declines ranging from 30% to 70%, there appears to be a beacon of hope set to shine through the murk.

The recent Bitcoin Halving in April is what the altcoin market needs to recover and surge beyond its highest levels.

Related Reading

Analyst Predicts Major Gains for These Altcoins But Warn Against XRP and ADA

Analyst Predicts Major Gains for These Altcoins But Warn Against XRP and ADA

10 months ago

Bitcoin Halving: A Gateway to Altcoin Prosperity?

Bitcoin usually undergoes a Halving every four years, and this major event halves the block reward for miners in half. This fall in supply has normally triggered a bullish rally not only for Bitcoin but also for the altcoin market.

Crypto analyst Wise Advice elaborates that following each Bitcoin halving, there is a pronounced potential for altcoins to surge. The analyst particularly noted:

I know when altcoin season will happen. And I’ll show you it… ‘Halving’ It all depends on it […] When halving happens, after 1–1.5 years, the BTC ATH come And near that, ETH and other altcoins boom.

Historically, this Halving period has seen an explosion of attention for altcoins, driving their prices higher due to the scarcity concerns from Bitcoin following this event.

For example, in the previous Bitcoin Halving on November 9, 2021, leading altcoins, including — Ethereum (ETH) and Solana (SOL), Polkadot. (DOT), Avalanche (AVAX) all recorded a new all-time high.

For context, ETH peaked at $4,800 on November 10, SOL came in too with its new peak at $250 5 days earlier as revealed by Wise Advice, while DOT’s peak at $55 happened on the 4th of that month, and AVAX peak at $144 occurred later that month on the 21st.

Altcoins hitting ATH after Bitcoin Halving
Altcoins are hitting ATH after Bitcoin Halving. | Source: Wise Advice on X

How Does The Halving Points To Alts Season Now?

As Wise Advice’ post suggests, such patterns underscore a recurrent theme: post-halving, money flows from Bitcoin into altcoins, significantly buoying their market positions.

Path to altcoin season.
Path to altcoin season. | Source: Crypto Wise

The analyst explained:

The more they buy, the higher the price goes. And it makes investors profitable. They sell a part of it and send to Ethereum and other tokens. The market cap of these are way lower, so even the inflow of $100 million can make a huge change (a month before the ATH, Bitcoin MC was in 2.5 times larger than Ethereum.) That’s why Solana and Polkadot’s ATH was 4-5 days faster. Then money goes to even smaller Alts. And they start to overperform big ones. The smaller they were, the bigger the growth was.

Notably, this shift is often reflected in Bitcoin’s dominance index—a metric that measures Bitcoin’s market capitalization relative to the total market cap of all cryptocurrencies. As observed post-halving, a decline in this index signals a growing interest in altcoins.

Related Reading

Bitcoin altcoins

Crypto Analyst Says Bitcoin Could Reach $100,000, But What About Altcoins?

10 months ago

Bitcoin dominance is now at 54.60%, a slight decrease from above 55%. Earlier this month, according to TradingView. Notably, the fact that the index is still somewhat high, as it still stands above 50%, suggests that the market still favors BTC.

Bitcoin dominance amid the Altcoin market performance
Bitcoin (BTC) dominance on TradingView

However, the recent decrease could be the early signs of an emerging altcoin season. Analysts at Glassnode make a similar point, linking present market circumstances with those in late 2020 when smaller stocks and riskier assets boomed, pointing towards an impending altcoin season.

Rotation coming?

Yesterday, we saw how #Nasdaq declined >2% – while #IWM rallied >3%.

This is a clear indication of Rotation. The move to riskier assets.

Will we also see this is #BTC and #Alts?

Well – in November 2020, we had a day just like yesterday. IWM soared and… pic.twitter.com/WG9pooRxh1

— 𝗡𝗲𝗴𝗲𝗻𝘁𝗿𝗼𝗽𝗶𝗰 (@Negentropic_) July 12, 2024

Featured image created with DALL-E, Chart from TradingView

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Samuel Edyme
Samuel Edyme

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Read more

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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