Crypto: Is Altseason About To Disrupt Everything?

The altcoin season seems to be showing signs, but it still does not dare to assert itself. These alternative cryptos sometimes take the spotlight, leaving Bitcoin in the shadows, before it regains its supremacy. Today, according to Glassnode experts, the next altseason could finally be announced when Bitcoin reaches new heights.

Altseason, a promise always postponed?

The altcoin season is about to start, experts predicted in June. But so far, no prosperous period in sight.

Recently, Glassnode co-founders Jan Happel and Yann Allemann, aka Negentropic on X, have rekindled hopes of an imminent altseason. According to them, the critical moment could occur when Bitcoin surpasses its previous all-time high (ATH) of $74,000. For now, altcoins are merely riding the wave of the leading crypto’s uptrend, but a shift could be near.

#Altcoins have followed the bullish momentum of #Bitcoin

It seems that we are on the verge of an Altcoin Season. We are bound to experience it intensely once $BTC breaks its ATH and enters uncharted territory. 🚀#Altseason #Altseason2024 pic.twitter.com/7QFoR6Ow6x

— 𝗡𝗲𝗴𝗲𝗻𝘁𝗿𝗼𝗽𝗶𝗰 (@Negentropic_) September 23, 2024

They believe that once this threshold is crossed, the crypto market could experience a general surge. The usual cycle would then begin: “Bitcoin in the lead, followed by Ethereum, then large caps before mid and small caps,” Negentropic specifies.

But since May, Bitcoin has made three surges without triggering this famous altcoin season.

• Since May: 3 BTC increases without Altseason;
• Altcoin cycle indicator close to 50;
• Current Bitcoin price: $64,246.

The crypto market awaiting a collective takeoff

According to Negentropic, the altcoin cycle indicator has finally risen to nearly 50 before Bitcoin shows new signs of strength. A value above this threshold suggests that the queen of cryptos underperforms against alternative cryptos, which might signal the long-awaited beginning of a new altseason.

Traders are therefore on the lookout, ready to see if this time, altcoins will finally surpass their older sibling Bitcoin.

Another user, BitcoinKiwi, questioned Negentropic: “Do you think Bitcoin will rise first before a rotation to alts, or will they rise together?”

According to experts, the latter could indeed come first, followed by a collective wave taking the entire crypto market with it. But the mystery remains: how long will altcoins have to wait to take over?

In short, crypto experts are divided on the arrival of altseason. While some blame memecoins for delaying this cycle, others point to the decline of the crypto market in general.