After exchanging in red in recent weeks, the cryptography market shows signs of a great opportunity for Altcoin investors. With the Altcoin market capitalization already plunged from a January summit of $ 1.64 billion to $ 931 billion, the best analyst Darkfost estimates that this is the perfect time to buy Altcoin because we have officially entered a “purchasing area”.
In addition to that, the domination of Bitcoin is on the verge of a major collapse, suggesting that the Alts-season could be fast!
Is it time to buy altcoins?
According to analyst Darkfost, current Altcoin trading volumes have entered a key accumulation phase, making it an ideal moment to start buying altcoins using the average cost of a dollar (DCA).
Looking at the Darkfost shared graphic, it shows a crucial trend in altcoin trading volumes. Because it compares the 30 -day trading volume for stable pairs with the annual average. When the volume of 30 days drops below the annual average, it was often the right time to buy.
Currently, this signal is reappeared, suggesting that the market is in the purchase phase. The last time it happened was in September 2023, just before the Altcoin prices increase.
Will Bitcoin domination fall?
The domination of Bitcoin (BTCD) plays a crucial role in determining if the Altcoin season is about to start. Since he reached a low cycle in January, the domination of the BTC has continued to increase and is currently 63.50%.
According to the Crypto Mister Crypto analyst, the dominance of the bitcoin has reached a level of key resistance while following a rising corner pattern. This model is often considered a lower signal, which means that a strong withdrawal could soon happen.
Mister Crypto’s graph highlights a situation similar to 2021, when the domination of Bitcoin has dropped sharply. At the time, this drop led to a massive Altcoin rally. If history is repeated, the domination of Bitcoin could see a significant drop, perhaps 30x.
The index of the Altcoin season suggests a different story
However, the Altcoin season index fell at a lower 18, noting that altcoins are currently underperforming compared to bitcoin.
This index follows the performance of the first 50 altcoins and compares their Bitcoin gains. A weak score means that Bitcoin dominates the market, while altcoins find it difficult to follow.
