TL;DR
- VanEck confirms the start of the “altcoin season”, with alternative coins standing out.
- The Altcoin Season Index shows a score of 0.8, indicating strong performance compared to Bitcoin.
- CoinMarketCap also reflects the growth of altcoins, reaching a score of 87 on December 3.
Market Shifts Toward Altcoins, According to VanEck
Bitcoin continues to struggle to stay above $100,000, which has led investors to focus on altcoins. Despite the leading cryptocurrency failing to surpass its all-time high of $108,135, VanEck analysts believe we are on the verge of an altcoin season, where alternative coins could see a rally. According to Matthew Sigel, head of digital research at VanEck, the increasing capital in the market is encouraging investors to take more risks, which benefits the growth of emerging sectors such as decentralized finance (DeFi), gaming, and NFTs. As more investors shift their attention away from Bitcoin, they are looking for promising altcoins that could yield higher returns in a more volatile market. This shift is also driving innovation in the broader crypto ecosystem, which further boosts investor confidence in altcoins.
Indexes Indicate Strong Altcoin Performance
Artemis’s Altcoin Season Index, which measures the performance of the top 50 altcoins compared to Bitcoin over 90 days, has reached a score of 0.8, suggesting a strong rally for altcoins. A score of 0.6 marks the beginning of the altcoin season, and the current value shows a clear advantage for alternative coins.
Additionally, CoinMarketCap reported an impressive score of 87 on December 3, highlighting the growth in the altcoin market, which has gained significant momentum and investor interest over the past few months.
Although Bitcoin remains below $100,000, hovering around $90,000, some analysts predict an increase in 2025, especially if more crypto-friendly policies are implemented. However, the current trend favors altcoins, which are attracting more investor attention. While the overall market has faced some declines, experts agree that we are in the early stages of the altcoin season, with superior performance expected from alternative coins in the coming months. This shift suggests that altcoins might continue to outperform Bitcoin in the near future.
