Altcoin Season Begins 90% Outperform Bitcoin

In the cryptocurrency market, there has been an ongoing debate about whether an altcoin season will commence this year. Market participants have varying opinions, with some predicting that altcoins will underperform for the remainder of the year, while others remain optimistic about the potential for an altcoin season before the year's end.

One analyst who maintains a bullish outlook for altcoins is João Wedson. Wedson, a verified analyst on Cryptoquant and CoinMarketCap, recently shared his perspective with his 7,000+ followers. According to Wedson, a "mini altcoin season" is currently underway. An altcoin season is characterized by a period when alternative coins outperform Bitcoin for a few weeks to several months.

Wedson's observations, supported by an altcoin season index versus Bitcoin chart, indicate that 90% of altcoins have outperformed Bitcoin over the past 72 hours. He emphasized that this trend is just the beginning of a larger altcoin season, despite skepticism from the media and baseless analyses. Wedson noted that the altcoins in question include those outside the top 100 category, which is different from the traditional definition of an altcoin season where 75% of the top 100 altcoins outperform Bitcoin within 90 days.

According to data from CoinMarketCap, only 26 out of the 100 leading altcoins have outperformed Bitcoin over the past 90 days. The highest value of 30 was recorded in June, while April 26 marked a yearly low, with only 12 altcoins outpacing Bitcoin. Despite these figures, Wedson remains confident in his prediction, stating that multiple "mini altcoin seasons" can occur within a week, driven by heightened whale activity. He concludes that a larger altcoin season is already underway, suggesting that significant profits can be made during these periods.

Wedson's analysis highlights the potential for a broader altcoin season, which could see alternative coins outperforming Bitcoin for an extended period. This prediction is based on the recent performance of altcoins and the increased activity of large investors, or whales, in the market. While the traditional definition of an altcoin season focuses on the top 100 altcoins, Wedson's observations include a wider range of altcoins, indicating a more diverse and dynamic market.

The ongoing debate about the altcoin season reflects the uncertainty and volatility in the cryptocurrency market. While some analysts remain skeptical, others like Wedson see potential for significant gains in the altcoin market. The recent performance of altcoins, as highlighted by Wedson, suggests that a larger altcoin season may be on the horizon, driven by increased investor activity and market dynamics. As the market continues to evolve, it will be interesting to see how these predictions play out and whether the altcoin season will indeed materialize.