Is Alt-Season Started? || Steem Alliance

Assalamu Alaikum friends,
Hope everyone is doing well. Bitcoin currently stands at $62,000. Due to this pump in Bitcoin, some altcoins/tokens are also starting to have an impact. Which has a huge impact on the total marketcap of cryptocurrencies. In today's blog, I will discuss about that. So let's get started without delay:-

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I will discuss in the first part of this blog, what is altcoin? In this era of cryptocurrencies, all the coins and tokens other than Bitcoin are altcoins. Altcoins occupy a large part of this cryptocurrency. Currently, there are about 15k to 20k coins/tokens in the market. Which work on different project basis. Some coins work with the gaming sector, some coins work with the NFT sector.

Since each coin/token has different use cases, each coin's popularity varies. And depending on this popularity these alt coins can create their value in the market. Coins that increase in value will increase in price/demand. Because of this, some coins become popular in the market very quickly, and sometimes they lose their popularity, and the price of that coin becomes inflated.

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Now to the main part of this blog, have we entered the alt season? I will say no as an answer. Because Bitcoin halving has not yet happened. There are still about 48 days left for the halving. After the Bitcoin halving, Bitcoin will create a new all-time high and from there the whales will pull out some of their assets and start investing in altcoins.

When these investors start investing in altcoins, the price of altcoins will increase very quickly. As a result, each altcoin will cross its previous all-time high to create a new all-time high. These processes will still take about 1 year. But those who are thinking of investing in altcoins can start investing now. Remember this is not financial advice. So before investing, research with your knowledge and take risks.