When Will Altcoin Season Start? Insights on Bitcoin Dominance

Crypto enthusiasts are buzzing with speculation about the impending altcoin season, especially in light of the gains observed during previous cycles. In 2020, a $1,400 investment of a stimulus check could have transformed into an astounding $50,000 to $80,000, and even as high as $200,000 if invested in Solana at the right time. However, the market dynamics indicate that while cycles may rhyme, they don't exactly repeat. A historical insight shows that Bitcoin dominance peaked above 95% during the initial cycle with altcoins back in 2017, which subsequently entered a long-term downtrend, interrupted only by major relief rallies. The last cycle witnessed Bitcoin dominance topping at just over 73% on December 28, 2020. Currently, the sentiment suggests that crypto investors are eagerly awaiting the tell-tale signs that altcoin season is approaching. This includes notable movements in Bitcoin's dominance, which reached a new high of just under 58% after recent market dips. A pattern is emerging where Bitcoin dominance continues to trend down with lower highs each cycle, leading to speculation about whether altcoins are truly positioned to make their jump. So, as investors ponder their strategies, many are left with the critical question: Are your bags packed for the upcoming trip?