Hello everyone, Bitcoin is making new all-time highs, and the whole market is green with strong performances from altcoins. But is this just another fake pump that will fade in the coming weeks? Or are we witnessing the beginning of the long-awaited altseason\u00a0? Let\u2019s find\u00a0out.<\/p>\n
These past few days have been highly volatile, with Bitcoin reaching a clear all-time high (ATH) at $122k. Many tokens have outperformed Bitcoin at the same time, including $PENGU, $BONK, and even $ETH\u00a0!<\/p>\n
We\u2019ve also seen major developments like the pre-sale and launch of Pump.fun<\/strong>, which generated significant buzz, and massive hype surrounding $PENGU with rumors of a big collaboration.<\/p>\n All in all, the market is back with bullish news\u00a0!<\/p>\n That\u2019s all great, but most of us have a good portion of our portfolio in altcoins.<\/p>\n So the question is\u00a0: Are they going to hit new highs anytime soon\u00a0?<\/p>\n Let\u2019s look at some charts that give us insight into the future of altcoins\u00a0:<\/p>\n BTC Dominance represents the percentage of Bitcoin\u2019s market cap in the total crypto market. You can analyze it like any other token chart, marking zones and setting targets, it\u2019s quite useful for predicting altcoin\u00a0trends.<\/p>\n When BTC.D drops\u00a0:<\/p>\n If BTC is going down \u2192 alts tend to lose\u00a0lessIf BTC is pumping \u2192 alts tend to pump\u00a0harder<\/p>\n In simple terms\u00a0<\/strong>: As seen in the chart, the recent drop in BTC.D was predictable, the RSI was rejected by a historically significant trendline (tested 3 times) on the weekly timeframe.<\/p>\n We\u2019ll need to wait for the weekly close to confirm, but I believe this reversal could mark the start of an altseason<\/strong>.<\/p>\n Another great indicator is TOTAL2<\/strong>, which tracks the market cap of all cryptocurrencies excluding Bitcoin.<\/p>\n As you can see, we\u2019re still below the ATH from the 2021 cycle. The real fun begins once we break that level, just like what happened after we broke the ATH from 2018. That means the best is yet to\u00a0come<\/strong>.<\/p>\n With strong momentum building, I\u2019m bullish for the long term (over the next few\u00a0months).<\/p>\n That\u2019s it from me\u00a0! And you? What do you think is going to happen\u00a0next?<\/strong><\/p>\n And you what do you think is going to happen\u00a0?<\/p>\n As always, thank you for reading\u00a0!<\/strong><\/p>\n Follow me on\u00a0medium<\/a><\/p>\n Follow me on\u00a0Twitter<\/a><\/p>\n Hyperliquid (4% fees discount)\u00a0: <\/strong>https:\/\/app.hyperliquid.xyz\/join\/ASTROBOY13<\/strong><\/a><\/p>\n My favorite Crypto Faucet: Cointiply<\/a> (referral)<\/p>\n Read exclusive articles on publish0x<\/a>, and if you want to support me for free, you can sign in with this\u00a0link<\/a><\/p>\n Disclaimer: This is not financial advice, you need to do your own research\u00a0!<\/em><\/p>\n Bitcoin All-Time High\u00a0: Top or Altseason Start\u00a0?<\/a> was originally published in Coinmonks<\/a> on Medium, where people are continuing the conversation by highlighting and responding to this story.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin All-Time High\u00a0: Top or Altseason Start\u00a0? Hello everyone, Bitcoin is making new all-time highs, and the whole market is green with strong performances from altcoins. But is this just another fake pump that will fade in the coming weeks? Or are we witnessing the beginning of the long-awaited altseason\u00a0? Let\u2019s find\u00a0out. Market Situation These […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-82502","post","type-post","status-publish","format-standard","hentry","category-interesting"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/82502"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=82502"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/82502\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=82502"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=82502"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=82502"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}What About Altcoins?<\/h3>\n
\ud83d\udd38 Bitcoin Dominance (BTC.D)<\/h3>\n
If you hold alts, you\u2019re happy.
If you only hold BTC, maybe not so\u00a0much.<\/p>\nTOTAL2\u00a0: The Altcoins Market\u00a0Cap<\/h3>\n
Final Thoughts<\/h3>\n
I\u2019m very bullish<\/strong> heading into the summer, and I believe the altseason we\u2019ve all been waiting for<\/strong> is finally coming, and it\u2019s going to surprise a lot of\u00a0people.<\/p>\n