Is Altcoin Season Here Already? VanEck Answers As Bitcoin Price Struggles Below $100,000 🚀
Bitcoin has experienced a price correction from its recent all-time high, dropping below the $100,000 mark and raising concerns about its future trajectory. This has shifted attention to the altcoin market, where many investors anticipate a coming rally. According to VanEck, the altcoin season started on November 27, suggesting favorable conditions for altcoins.
VanEck's analysis, led by Matthew Sigel, indicates Bitcoin's dominance often sets the stage for altcoins to outperform, especially in areas like DeFi, gaming, and NFTs. This view is supported by Artemis’s Altcoin Season Index, which is currently well above the threshold indicating an altcoin season.
Diverging views on market metrics exist, with Artemis' index differing from metrics like CoinMarketCap's. Despite different measurements, many crypto enthusiasts, including analyst Captain Faibik, are optimistic about an official altcoin season. The sentiment is driven by technical indicators and anticipated altcoin overperformance against Bitcoin.
Source: www.newsbtc.com ↗
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