Is Altcoin Season Happening Right Now?

The crypto world loves to talk about altcoin season — those exciting times when smaller cryptocurrencies start skyrocketing in price

The crypto world loves to talk about altcoin season — those exciting times when smaller cryptocurrencies start skyrocketing in price, often even outperforming Bitcoin. But is it happening now, or are we still stuck in the Bitcoin season? A group of experts recently discussed this topic on the Unchained podcast, offering their insights into what to expect next in the crypto markets.

One Point of View: A Mini Altcoin Season

Popular crypto analyst, Scott Melker, believes that they may have just experienced a mini altcoin season. While Bitcoin has been performing well and reached new highs for the year, several altcoins also made significant moves, which is something that hasn’t been seen for a while.

For instance, Ethereum experienced a 40% rally in just two days, which is a substantial move for a coin of Ethereum’s size. Additionally, Bitcoin’s dominance, which is its share of the overall crypto market, declined while its price went up. Usually, when Bitcoin climbs, altcoins tend to stay flat or fall. However, this time both moved up together, which may indicate that new money is entering the market rather than traders simply shifting funds between Bitcoin and altcoins.

Can We Really Have Another Altcoin Season Like the Old Days?

The short answer: probably not in the same way.

There’s a massive number of new crypto projects waiting on the sidelines. Venture capitalists and developers are holding off on launching thousands of new tokens until market conditions improve. When those hit the market, they’ll spread investor money thinner — making it harder for every altcoin to rise together like we’ve seen in past altcoin seasons.

Instead, the experts on the Unchained podcast believe the next altcoin run will be narrative-driven. In other words, certain types of coins will pump at certain times based on market trends and hype. For example, it could be memecoins one month, AI-related tokens the next, or maybe DeFi (decentralized finance) projects on Solana or Ethereum.

So, rather than a “throw a dart and watch everything rise” market, investors will need to be tuned in daily to catch the right trends at the right times.