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Alt season is right around the corner… 👀
It’s officially UPTOBER, which means Q4 is FINALLY here. For anyone unaware, this time of year has historically been the most bullish season for the crypto markets.
Keeping that in mind, the $BTC dominance chart looks ready to start collapsing VERY soon. As we can see, $BTC dominance has just retested its historic vertical resistance, which it has rejected from. Historically, this has often led to large moves to the downside in bitcoin dominance.
What this means is simple: the lower $BTC dominance goes, the more altcoins outperform. And that’s exactly what defines an alt season.
With the chart looking primed to break lower, and the Q4 seasonality of altcoins historically performing well, I think it’s safe to assume the next few months are going to be exciting… 😁