Altcoin season is around the corner as attention slowly drifts from the main and biggest cryptocurrency bitcoin. The Crypto market is taking advantage of the recent dip in bitcoin to boost altcoin. This season is basically pumping more investments into the altcoins rather than Bitcoin. Altcoins have a higher profit risk compared to bitcoin.
What are Altcoins?
In simple terms, Altcoins are any cryptocurrency that is not bitcoin. By this statement, we mean that Ethereum is also an altcoin. Though some crypto traders argue that Ethereum is not fit to be an altcoin. Ethereum is the second largest cryptocurrency in the world. But we will all agree that Bitcoin is the largest cryptocurrency in the world and it stands alone.
There are different types of altcoin. they are stabecoins, Defi tokens, oracles, exchange token and so on. Altcoin has a variety of services to offer. However, Bitcoin is of high value in the crypto market, not all altcoins have value. Anyone can create an altcoin which is why there are so many jokes and scam altcoin with no value. Most crypto traders refer to them as “shitcoins”. Altcoin can make a lot of profit from a small investment as little crypto flow can lead to a gain in altcoin.
What is Altcoin Season?
An altcoin season is one of the special cycles previously seen in the trading of cryptos. Oftentimes, altcoin seasons comes after a significant move in price from Bitcoin. As the price of Bitcoin stagnates or takes a bearish turn, funds will begin to flow from Bitcoin to Ethereum, then further down into the rest of the crypto market. This is generally what’s referred to as an altcoin season.
Previous bull cycles and alt seasons suggest that the industry begins to see pumps from larger-cap altcoins first, before smaller-cap coins begin to move. An altcoin season is not something that’s announced at a certain time or date, nobody knows for sure when it’s upon us, nor when it will end. There are, however, some indicators that can help calculate whether or not we have officially entered “Altcoin Season”.
Alt Season Cycles
The cyclical nature of cryptocurrency continues during Altcoin Season too. There are thousands of altcoins in the market, categorized according to various trends and use cases. One of the reasons why investing in crypto is so worthwhile, is the exposure to news updates, networking, and being able to keep up with recent trends. This kind of consistent stream of crypto exposure is critical to maximizing successful gains during an alt season. If you can keep on top of what kind of projects are about to take off, you can place yourself in an incredibly advantageous position.
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