Altcoin season is nearly there

Not only are we at the beginning of ‘Uptober’, traditionally the most positive month for Bitcoin, but according to popular calculations, ‘Altseason‘ will soon also start, or the weeks in which altcoins normally gain more than Bitcoin. How come?

Is it almost altcoin season?

Bitcoin and crypto were created out of mathematical formulas, and so it makes sense that there is also a mathematical formula to calculate when altcoin season is starting.

The formula goes as follows:

If 75% of the top 50 coins performed better than Bitcoin over the last season (90 days) it is Altcoin Season. Excluded from the Top 50 are Stablecoins (Tether for example).

With that formula, each altcoin from that top 50 then receives a score (positive or negative) and all those scores are then added. A result lower than 25 means Bitcoin season, a result higher than 75 means altcoin season. So it not only depends on what altcoins do, but also how volatile Bitcoin is.

Blockchain Center has put that formula in a graph that you can constantly check.

Volatility

During the summer, Bitcoin did not really go higher or lower, and in September it has remained remarkably quiet (so far). Volatility has been very low for the largest digital currency for months.

Meanwhile, Kaspa rose by a good 50% in the last three months and Chainlink also rose steadily. In fact, in recent weeks there have been more and more altcoins that have outperformed Bitcoin, and many of them seem ready for a breakout when Bitcoin would start a new bull run (since the entire crypto market usually goes higher due to the many new investors).

We need a score of 75 to call it altcoin season. At the time of writing we are at 57. So it can go very quickly.

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