Expert opinion: altcoin growth may only happen in next four-year cycle

BTC has been growing since the beginning of this year, while the prices of other cryptocurrencies have dropped to double digits. According to Coinmarketcap data from February 19, about 80% of the top 100 cryptocurrencies have already lost 10 to 75% of their price.

Approximately 50% of cryptocurrencies sank by 30% or more, while Bitcoin grew by 2% and reached $95,100 over the same period. That said, it’s still trading 12% below the all-time high it hit on January 20.

According to Tehnobit CEO Alexander Peresichan, top crypto coins like Solana or Dogecoin lost 25% to 40% of their value over the past month. One key factor that can drive an altcoin season is the decrease of BTC’s share in the overall market cap, but currently, it exceeds 60%.

This indicates that investors prefer purchasing Bitcoin to allocating their funds to altcoins. Therefore, at the moment, there are no signs of an upcoming altcoin season in the market.

Bitget analyst Ryan Lee believes that a new altcoin season is not likely to start anytime soon due to the changes in the crypto market structure.

According to Lee, the launch of spot Bitcoin ETFs in January 2024 changed the traditional dynamic of an altcoin season following Bitcoin growth. The analyst concluded that altcoins might only surge in the next four-year cycle, if at all.