Many crypto analysts and investors are still anticipate an adult old coin season in this market cycle. While some of them were observed in individual old coins Like Solana and XRP, the broader Alt -Markt has not yet seen an explosive rally that describes an official Altcoin season.
This delay is largely attributed to Bitcoins continued dominance, which has remained strong Despite the periodic back. An analyst has now started the countdown and predicted that the long -awaited old Season is only a few days away.
The crypto analyst predicts that the Altcoin season will start in just three days
The Bitcoin dominance is still near Cycle Highs and the market has confirmed a final shift, but the technical analysis suggests that old coins will soon gain dynamics. After Bitcoin dominance card The dominance of Bitcoin is currently 60.2% from coinmarketcap, after recently reaching a multi-year high of 61% on February 8.
According to a crypto analyst that is known as Pepa (@moonsshilla) in social media X, the next official Altcoin season, Starts in the term Within the next three days. The analyst put on the social media platform to start the countdown and found that alts had three days and seven hours before withdrawing.
The article was accompanied by a diagram of the entire Altcoin market capitalization against Bitcoin (other/BTC), which shows that the price campaign recently touched the lower trend line of a rising channel for several years. Historically, this trend line was an important turning point, with a jump from here from the last two old times in previous cycles. If the pattern applies, a strong reversal of the onward result for Altcoin market capitalization could be in the game.
Historical patterns indicate that February 14th could be the beginning
Pepa supported the prediction and pointed out historical trends in previous market cycles. In an earlier contribution by the analyst a timeline designed In earlier Altcoin seasons, it was found that important old conditions occurred in the year after Bitcoins halving event.
After this data, the first Altcoin season started on February 14, 2017 after Bitcoin Haling from Bitcoin 2016. The second Altenacy began on January 1, 2021 after halving from 2020. . Interestingly, this observation is based on a 44-day diagram, with the next 44-day candles opening in just five days.
Despite the analyst’s countdown, Alteneason cannot really occur Until the Bitcoin dominance begins to weaken. The Bitcoin dominance is currently located near multi-year heights, which means that BTC continues to attract most of the capital inflows because it seems to break over $ 100,000 again.
In addition, the performance of Ethereum in relation to Bitcoin was in relation to a forerunner of wider Altcoin ranges. If ETH/BTC has strength, this could confirm that the market is shifting in favor of Alts. At the time of writing Ethereum tests important support On the ETH/BTC price card. A Jump from here Could be the first step in a new old seas season.
Selected picture of Adobe Stock, diagram of tradingview.com