Altcoin Season Awaits as Bitcoin Approaches All-Time High

Mar 5, 2024

History shows that Altcoin season is just around the corner.

Bitcoin has historically dominated during the early stages of the bull cycle, attracting the majority of investor attention and capital as it surges toward a new all-time high (ATH).

However, once it breaches its previous ATH, a shift occurs. 

Investors, encouraged by the market's momentum, start seeking higher returns. 

This drives them to begin diversifying into Altcoins, leading to a period of rapid increase in the Altcoin market share. A period commonly referred to as "Altcoin Season."

Altcoin MarketShare Through Bull Cycles | Pantera Capital

What is Altcoin Season?

Altcoin season (or “Alt” season) is the time of peak euphoria during every bull run. 

When in full swing, it results in low-cap tokens seeing huge spikes in price and new projects being pumped based on little to no information.

It is the ultimate high-hype period of the bull run and is generally observed by the market share of alternative cryptocurrencies (tokens other than bitcoin) rising significantly against that of BTC. 

For example, at the start of the 2017 bull market, BTC dominance was at 85% just after breaking its previous all-time high. During the peak of the 2017 Alt season, it dropped to just 32%.

2021 saw a similar effect, with BTC dominance dropping from 62% to 41% during peak Alt season.

Currently, BTC dominance is at 53%, the highest it has been since March 2021. Indicating the next Alt season is just about to begin.

How Can You Take Advantage of Altcoin Season?

Altcoin season is a time of high hype and large price swings. Many tokens will pump out of nowhere, whilst others barely see any price action at all.

So, how can you get in on the best tokens this Alt season?

You could spend hours researching and trying to identify the diamonds from the mess. 

Or you could use Bake’s Smart Bundles, and invest in the big tokens moving the market in just a few clicks.

Discover Bake’s Investment Ideas and Smart Bundles today.

DISCLAIMER: Please note that the information on this blog and in any articles posted on this blog is for general information only and should not be relied upon as financial advice. Cake Pte. Ltd., Bake, UAB, and its affiliates (the “Cake Group”) are not licensed financial advisers. You may wish to approach your own independent financial advisor before making any decision to buy, sell or hold any product and/or digital assets mentioned in this blog.

Any views, opinions, references, assertions of fact and/or other statements are not necessarily the views held by the Cake Group. The Cake Group disclaims any liability whatsoever that may arise out of or in connection with such statements. Always do your own research before investing in any financial assets and consult a qualified financial advisor if necessary.


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