What about the Altcoins this year, will we have the so-called Alt Season?

lenonmc21 (68)in #ocd-resteem • 5 years ago

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The Bitcoin has stood out in this year 2019, after suffering a great setback that put it at lows in the $3200 in 2018, however, since February of this year, the BTC began a very important bullish momentum that has led it so far this year to make a 310% profit approximately, which for any asset is a HUGE profitability. Of course this whole tour is given by many factors and are given by the growing adoption worldwide of the use of Blockchain and cryptocurrencies in general, the trade war between the U.S. and China, which has caused the economy to approach a new recession, bringing as a consequence that the fiduciary currencies are devalued and all are seeking an important refuge mainly in Gold and Bitcoin.

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All this has meant a significant increase for the dominance of Bitcoin compared to other currencies, which so far this year has reached 65.80% according to CoinmarketCap data, but currently means a setback taking the same to 64.80% and from late June to this month, the Bitcoin has been in a seemingly normal correction.

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But the question is:

Will we have the so-called Altcoins season?

In 2018 we saw the so-called "Alt Season" in the market, which, for most of that year, the rest of the currencies except Bitcoin, had an important uptrend at that time. This year Bitcoin has given a great profitability, many believed that was approaching the "Alt Season", however, many of them are still at historic lows, while a few are not at these lows and have increased their price since then.

The key

We could perhaps see a new "Alt Season" this year, but it will not be at all equal to the one experienced previously, this is because, the most stable projects, those that are really dedicated and worked on and bring real usefulness to the real world are those that could have an important impulse, by the adoption that is generated according to its use and of course the conditions that the market presents, so I believe that not all coins will be benefited, this would bring as a consequence that these coins collapse and leave the market in the medium and long term.

What exactly is the time left for this to happen?

This is not easy to determine, nobody knows what could happen in the market, but due to everything that is currently happening, the adoption and a possible lateralization of the trend of Bitcoin in this period of indecision, we could speculate a possible impulse for selected currencies as the strongest and most consistent projects. At this point, we can only monitor the market, especially Bitcoin and coins with the best established projects and real utility for society.

Conclusions

Maybe this season of Altcoins is very close, we have to be aware of the movements of dominance and prices of the BTC, in order to observe the precise moments to speculate with the best projects, always as one of the main rules of investment in assets says, putting money that we allow ourselves to lose.