Crypto community is back to anticipating “true altcoin season”

BestChange
1 min readNov 20, 2024

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QCP Capital named the conditions that could trigger the start of an altcoin season. According to the firm’s analysts, as soon as BTC dominance drops below 58%, a true altcoin season will start. However, QCP Capital also warned that some investors might not be ready to give up Bitcoin.

“Historically, we’ve seen altcoins outperform whenever the majors consolidate after a significant rally as profits rotate into smaller-cap coins. BTC’s dominance <…> will probably need to be around <58% to signal the start of altcoin season,” the experts stated.

QCP Capital experts believe that before consolidating, the flagship cryptocurrency can break $100,000 — a psychologically meaningful milestone for market players, and it can happen before the year ends.

“As we anticipate pro-crypto policies from the Trump administration and more rate cuts, we won’t be surprised to see altcoin season in full swing in the coming months,” the analysts shared.

Bitcoin has recently reached several all-time highs. According to Coinmarketcap, at 1 p.m. on November 20, BTC was trading at $93,400 and still growing, breaking $93,266 — the record set on November 13.

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