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Old-school commodity trader Peter L. Brandt, who began his trading career in the mid-1970s, has published a post about an altcoin season potentially arriving.
"It's altcoin season," Peter Brandt announces
He published a chart that shows the total market capitalization value of the cryptocurrency market, excluding the largest crypto, Bitcoin. A Cup and Handle pattern is forming on this chart, indicating a potential substantial price increase coming. “It's altcoin season,” Brandt tweeted.
The chart shows that the total market cap is currently at $1.39 trillion, but it is approaching the peak reached in 2021, which totaled $1.7 trillion. Many influencers and analysts have been predicting an altcoin season to arrive in 2025 – a period when capital begins shifting from Bitcoin to altcoins, as many BTC traders start to sell and shift their investments into alternative cryptocurrencies.
Additionally, Bitcoin's market dominance is currently hovering around 64%, and historically, this level has preceded altcoin rallies, when Bitcoin's dominance drops below the 60% mark.
Bitcoin OG Davinci on altcoin season
Early Bitcoin adopter and crypto YouTuber Jeremie Davinci has also shared his take on this matter. In a recent tweet, he stated that “altseason hasn’t started” yet. However, he continued, “when it’s here, most will be too late.”
Unlike other early Bitcoin adopters, Davinci is not a BTC tribalist, and he often tweets about large and small-cap altcoins, apparently, investing in them too, but not holding them long term. He also often mentions the leading meme coins – SHIB, DOGE and PEPE.
Recently, he published several tweets about Bitcoin. One of them addressed recent college graduates, who now have substantial student loan debt and must start repaying it. Davinci wrote that those who saved BTC 10 years ago are retiring early now, hinting that the new generation of investors should perhaps take this path and start stacking BTC as well, in order to see huge positive changes in their lives over the next 10 years too.
That tweet came after his ultra-bullish Bitcoin price forecast, in which he predicted that BTC would soar as high as $500,000 per coin.
Vladislav Sopov
U.Today Editorial Team