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This Banking system failure did it's work and fueled a big crypto rally. Bitcoin is up 37% in a week and alt coins did performed well but only few could outperformed BTC.
We've not seen a new altcoins season yet which is definitely coming at some point but when exactly and how it starts? Let's find out together ahead in this blog.
Bitcoin Fueling Altcoins Rally
Retailers and investors are bullish on Bitcoin buying heavily not just to sell right away but for next bull run coming with Halving.
In current scenario Bitcoin reached $28,000 and stayed so volatile this whole week indicates altcoins season is around the corner.
Bitcoin dominance is going high made Altcoins lost value in BTC satoshi pair. The time when dominance goes high is when cash flow shifts into Altcoins.
BTC to Altcoins money flow
After major money flows in BTC and starts to range high then goes sideways is when flow of money shifts from BTC to Altcoins.
Happening exactly at the moment noticing price action on weekends Bitcoin mostly stayed sidelines ever since reaching $27k to $28k.
The shift is going on and Altcoins will eventually rise in BTC pair which is the key moment of Altcoins season.
Hive in Top performing Altcoins?
I'm bullish on Hive for all reasons we've seen Ai coins narrative, LSD coins, Zk's, P2E and yet Web3 pending is something going to become real talk soon in Altcoins season.
3rd birthday of Hive Blockchain is on 20th March. Year's of building and evolving. Huge amount of $HIVE going to be powered up this day which will strengthen it more.
When the hive rally will begin it is going to fuel Layer 2 Tokens of Hive engine like flow of money is supposed to happen.
So, I'm kinda expecting hive to breakout $0.6 range and next $1 is easy like magnet.
Conclusions:
In the end current scenario is indicating Altcoins seasons is around the corner and also with Threads reached to this conclusions
You can also vote on this Thread here
Most people agree with altcoins season and I've explained above to clear any confusion left.
What do you think? Do let me know your thoughts about this in comments.
Your support is much appreciated. Don't Forget to hit Upvote, Comment and Re-blog.
Thanks for reading.
Greetings.
All the content and images are mine except indicated. No copyright infringement intended. 19/03/2023.
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