How can there be an altseason if people are excepting one?
How can there be an altseason if people are excepting one?
I don’t remember the term altseason coming into use until after spring 2018. Maybe it was used before that but I don’t remember it (I have been in since 2013).
In very early 2017 no one was expecting a massive alt rally. It happened because some people thought BTC would be replaced with currency coins and there would be use for other more fancy projects. Alts did rally in previous years to but not like 2017. The point being people were not expecting it at soon at BTC best its 2013 high. Altseason was a complete surprise.
In late 2020 alts got hammered (except ETH) and BTC rallied. People were selling alts into BTC even when BTC was well past its 2017 high. Altseason came in January 2021 and many were surprised at the sudden move and came to the acceptance that we had altseason a few weeks into it.
So today when we have BTC or ETH rallying many people proclaim altseason.
Maybe we need complete capitulation of alts before altseason?
People seem to be in disagreement with btc dominance, but altseason unravels with
- btc kicking ass
- btc waning, eth rising
- Midcap rising
- Small cap rising
- Frenzy
These dips and valleys are normal (profit taking and then consolidation into different assets).