Bitcoin will likely turn into consolidation state when the alt season begins. This what really happened before, Bitcoin is the only good currency that didn't pump that time. People are waiting for that to happen this year since the halving. And I think it's just around the corner. If you see the chart of altcoins you will see that they are trying to signal us that the real bull run will likely to occur, maybe it went up because of Bitcoin. But no matter of the two, alt season or the bull season, it all affect positively to the price of alts.
The price of altcoin has not increased much but the price of bitcoin has increased several times so it is expected that bull run of altcoin can be seen in the next few months. Yes if we can look at the chart the altcoin may do well in a very short period of time. I am totally shocked by the price of bitcoin because the price of bitcoin has crossed $93k and within the next year we will see bitcoin price of $100k. But what I noticed The altcoin market rides on the price of bitcoin and if the core of bitcoin ever starts to dump, then the price of all altcoins starts to dump.
If that should be the case, then we shouldn’t be expecting any altcoin seasons asides from what we are seeing now in the market. I feel when bitcoin rises, the altcoins will also follow suit and rise with bitcoin and then when the altcoin season arrives, bitcoin may just be in a state of consolidation and won’t really have much volatility to go up and down in the market which may still affect the movement of altcoins when it’s initiated. I read in the past that during the altcoin season, there is always transfer of money from bitcoin to other altcoins. I don’t know how true it is, but technically, if feels too good to be untrue about it.
This feature of the movements of Bitcoin and altcoins is considered by many investors important and interesting due to the fact that movements in Bitcoin’s market can be followed by movements in altcoins. We also have to realise that this pattern is sometimes not evidently clear out. Every year has its own characteristics, and when people start paying more attention to the altcoin market, people are able to transfer their forward from Bitcoin to altcoins if they believe in the particular altcoin during that year.
This can be used to our advantage with a free roaming approach, that is always ready to follow the market without getting fixated with one particular outcome. If there is a transfer of value, then, allows us to capitalise on altcoins with good performances. However, if not, just working on stable assets, like Bitcoin again, gives a sound strategy. Thus, we are constantly present in the market and do not concentrate on assumptions that can be unprofitable in the long term although that altcoins have a great potential in the medium term.