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 <p class="paragraph">Altseason is how cryptocurrency traders call a specific moment in a bull market when most altcoins Bitcoin (BTC).</p>
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 <p class="paragraph">As it happened in previous cycles, Bitcoin leads each cycle’s impulse, starting an upward movement and increasing its dominance. Other cryptocurrencies then follow BTC leadership during its consolidation. Interestingly, this usually results in better individual performances than the leader, boosting Altcoin’s total capitalization.</p>
 <p class="paragraph">After a profitable year for Bitcoin investors, analysts speculate if 2023’s altseason is about to start. Notably, BTC is up by more than 130% since November 2022, with 52% dominance, while altcoins’ total market cap lags behind.</p>
 <p class="paragraph">One of these analysts answers on X for the pseudonymous <em>Moustache</em> (@el_crypto_prof). In particular, <em>Moustache</em> identified a possible breakout for altcoins from the Gaussian Channel, imitating a <a rel="noopener noreferrer nofollow" title="pattern" href="https://thebittimes.com/tag/pattern.html">pattern</a> from three years ago. The same <a rel="noopener noreferrer nofollow" title="pattern" href="https://thebittimes.com/tag/pattern.html">pattern</a> was also spotted in 2016, starting the first big altseason in history.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="526" src="https://cdn.thebittimes.com/images/2023/11/25/5797ba3b2022b19d1a42bcb08bf3b32b.webp" alt class="wp-image-139571" srcset="https://cdn.thebittimes.com/images/2023/11/25/5797ba3b2022b19d1a42bcb08bf3b32b.webp 1024w, https://cdn.thebittimes.com/images/2023/11/25/5797ba3b2022b19d1a42bcb08bf3b32b.webp 300w, https://cdn.thebittimes.com/images/2023/11/25/5797ba3b2022b19d1a42bcb08bf3b32b.webp 768w, https://cdn.thebittimes.com/images/2023/11/25/5797ba3b2022b19d1a42bcb08bf3b32b.webp 1536w, https://cdn.thebittimes.com/images/2023/11/25/5797ba3b2022b19d1a42bcb08bf3b32b.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Altcoin Market Cap (Crypto total market cap excluding BTC) – Weekly chart. Source: <em>TradingView</em>
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 <h2 class="wp-block-heading" id="h-altcoin-market-cap-analysis-suggests-an-altseason">Altcoin market cap analysis suggests an altseason</h2>
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 <p class="paragraph">The “CRYPTOCAP: TOTAL 2” index by <em>TradingView</em>, measures the total market capitalization of cryptocurrencies excluding Bitcoin. <em>Mustache</em> used this index in the <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>, registering a $664.66 billion market cap for altcoins.</p>
 <p class="paragraph">Interestingly, a major altseason happened in the last two times when the altcoins’ market cap consolidated inside the Gaussian Channel in the weekly chart and <a rel="noopener noreferrer nofollow" title="broke" href="https://thebittimes.com/tag/broke.html">broke</a> out from it.</p>
 <p class="paragraph">If the story repeats itself, it is also expected to see Bitcoin’s dominance (BTC.D) falling bellow the 50% zone, which has been kept since June 2023. BTC.D index reached its yearly high at 54.35% on October 25.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="662" src="https://cdn.thebittimes.com/images/2023/11/25/8e1e05fd8da5d6a2a574dd61029f1fa3.webp" alt class="wp-image-139572" srcset="https://cdn.thebittimes.com/images/2023/11/25/8e1e05fd8da5d6a2a574dd61029f1fa3.webp 1024w, https://cdn.thebittimes.com/images/2023/11/25/8e1e05fd8da5d6a2a574dd61029f1fa3.webp 300w, https://cdn.thebittimes.com/images/2023/11/25/8e1e05fd8da5d6a2a574dd61029f1fa3.webp 768w, https://cdn.thebittimes.com/images/2023/11/25/8e1e05fd8da5d6a2a574dd61029f1fa3.webp 1536w, https://cdn.thebittimes.com/images/2023/11/25/8e1e05fd8da5d6a2a574dd61029f1fa3.webp 1875w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Bitcoin Dominance (BTC.D) index – Daily chart. Source: <em>TradingView</em>
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 <p class="paragraph">However, it is important to understand that past price actions are no guarantee of future behavior. An altseason might not happen even following a breakout from this channel. Demand plays a crucial role in impulsing altcoins’ market cap.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/altseason-incoming-altcoins-broke-out-from-this-3-year-pattern-tbt71613.html">https://thebittimes.com/altseason-incoming-altcoins-broke-out-from-this-3-year-pattern-tbt71613.html</a></p>

Altseason incoming? Altcoins broke out from this 3-year pattern

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