Are We on the Verge of Another Earthquaking Altseason?

No doubts, the events of the last few days in the crypto market leave much room for optimism. For the first time in a long while, we're glaringly seeing some of the top tier altcoins outperforming Bitcoin.

Unlike what was witnessed some months ago when Bitcoin made parabolic movements and left altcoins in the dustbin, a trend reversal is seeming imminent, raising the question of whether we are at the verge of another earthquaking altseason.

Before the above question is answered, it is important that this writer very briskly describe what an altseason have come to mean in the crypto parlance. A typical altseason is a period of time during which most altcoins generally outperform Bitcoin in a manner that stuns the staunchest of Bitcoin maximalists.

The last altseason came between December 2017 and January 2018 when some altcoins did as much as X50 of their lowest market prices. It was a time when the Bitcoin dominance clashed below 55%. It was a fantastic moment.

So, do the market movements of the past few days suggest that an earthquaking altseason is imminent? Sincerely, I do not think so. While the rally could last for a few more days or even weeks, it is unlikely that some altcoins will experience the kind of parabolic movements that were last seen two years ago.

I hold the views above largely because a Bitcoin halving is coming up in a few months, in May 2020 to be precise. At this point, it is more likely that more monies will flow into Bitcoin than would flow into altcoins, weakening any possible chance of having a full blown altseason. This is because wherever the smart money goes, determines which coin will pumb or dumb.

However, this does not mean that the ongoing altcoin rally will suddenly wear out. In fact, it is likely that some more gains will be made in the next few weeks before the market reverses or stagnates again in favour of Bitcoin.

The real massive altseason that will see X10 or more is not likely to happen until Bitcoin sets another all-time high record. In the interim, let us enjoy the party while it lasts.