Altcoin season 2022 is already on!
The analysis of the altcoin market capitalization chart and the similarities with the previous cycle are not the only reasons behind the continuation of altcoin price increases. According to data from BlockchainCenter, the altcoin season 2022 has just begun.
Their daily updated altcoin season chart indicates that the index entered altcoin dominance territory in early August. As we read on their website:
“If 75% of the Top 50 coins performed better than Bitcoin over the last season (90 days) it is Altcoin Season.”
On August 10, the altcoin season index they created recorded a near-maximum value of 98. These levels have not been seen since the April-June 2021 period. Thus, if the index remains above the value of 75 for the next few weeks, we may experience a strong altcoin season 2022 in the near future.
