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bitcoin altcoins alt season google trends

Alt Season: ‘Altcoins’ Search Volume Surges On Google Trends

Tony Spilotro by Tony Spilotro
3 years ago
in Bitcoin, Cryptocurrency news
Reading Time: 3 mins read
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All across the cryptocurrency community, there’s buzz once again about an altcoin season. But it may not only be current market participants driving the current surge in altcoins.

Google Trends shows that search queries for “altcoins” have reached the second-highest point in all of 2020. What’s this mean for the crypto market?

Is Alt Season Upon Us? Crypto Assets Begin To Show Signs of Recovery

Altcoins like Chainlink, Tezos, and Compound have been on fire over the last several days. As Bitcoin trades sideways, boredom may be causing a flood of interest to enter the altcoin market.

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Even long-time crypto market underperformers like XRP are beginning to show signs of a recovery.

These alternative crypto assets have suffered for nearly four full years in terms of both USD and BTC value. Altcoin holders who bought the top of the crypto bubble had to watch not only the entire market collapse but Bitcoin rise again without alts.

Related Reading | This Leading Altcoin Only Has 8% Chance of Further Decline Against Bitcoin

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Bitcoin’s 2019 rally left alts in its dust, causing the assets to bleed out on their BTC ratios. Most assets revisited all-time lows in satoshis – the smallest unit of measurement in Bitcoin.

It’s taken all the way until now for alts to show even the smallest glimmer of hope, and it already got the industry talking “alt season.”

Altcoin seasons are periods of overperformance against Bitcoin. These phases can result in multi-thousand percent rallies against the leading cryptocurrency by market cap.

The current alt season was kickstarted due to a fall in BTC dominance, but it could also be the result of new investors interested in the asset class again.

 

Google Trends Search Queries For Altcoins Reaches Second Highest Level Of 2020

According to Google Trends data, search queries for “altcoins” have risen to the second-highest level of the year.

This could be a sign that not only interest is returning in the crypto market to more exotic coins, it could also signal that new money is coming in.

Internet users turn to Google to learn more about a topic, which could suggest that these are new investors seeking to learn more about the asset class.

bitcoin altcoins alt season google trends

BTC.D Daily | Source: TradingView

Interestingly, the only higher search volume was during the second 2020 high in BTC dominance. The peak in altcoin searches happened to coincide with what was likely the bottom in alts.

Related Reading | Crypto Asset Goes Viral, As TikTok Users Plan Coordinated Pump

Although the surge in search interest surrounding the topic is positive, it is nowhere near the levels of the crypto bubble.

Zooming out shows the current levels are not even a blip on the overall Google Trends chart. It’s when search interest reaches similar levels, that the real alt season will be here.

bitcoin altcoins alt season google trends

However, the buzz surrounding crypto assets that aren’t Bitcoin may never return in such a way. High profile investors claim that it won’t be as easy to make money in the next bull market. Others claim altcoins will never revisit all-time highs.

These theories remain unproven, and the current signs of recovery could eventually prove them to be wrong.

Tags: alt seasonaltcoinsbitcoinbitcoin dominancebtcbtc.dbtcusdcryptoethbtcgooglegoogle trendLINKBTCXRPBTC
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

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