Alt season 2024 is here. It will last a few months after which a retracement will start. Maximizing profits in alt season 2024 will be a challenge for most crypto investors.
Since 12 months, we have been shouting it from the rooftops: “the new crypto bull market is here“. Hardly anyone was listening, back then. Now, with the hype surrounding the Bitcoin ETF, the world suddenly woke up and starts chasing crypto, right at a time when BTC is setting a local top. Today, we are on record forecasting: alt season 2024.
Update: February 14th, 2024: Analyst: Crypto Alt Season 2024 Is Starting This Week
Similar to our ‘new crypto bull market is here’ call, a year ago, we see disbelief in our latest ‘alt season 2024 is here’ call. And that’s fine, that’s how it should be, because sentiment must be horrible at the start of a bull market, by definition.
Altcoin season 2024
Once again, the masses are looking in the wrong direction, it’s not Bitcoin but a few alts that will do tremendously well in 2024. It will not be the usual suspects that will be the stars in 2024.
Alt season 2024 will not be like the one in 2020/2021, when truly all cryptocurrencies were explosive. The emerging alt season 2024 will be bi-furcated.
What we are saying is this – the crypto bull market 2024 will be a HIDDEN BULL MARKET. Consequently, some alts will do well, but not all of them. Forget the 2021 crypto bull market, when all cryptocurrencies were explosive, concurrently. It won’t happen this time around, not in 2024 at least, maybe in 2025.
Bi-furcation, which is the the fact that not all tokens move higher (in price) concurrently will make it very tough to spot the trends. The good thing with bi-furcation is that the entire world, at a bare minimum 99.9%, will only find out about the crypto bull market when most tokens trade at least 3x higher which is when it will be way too late to enter.
Related – Can The Price Of Solana (SOL) Exceed $1,000 By 2030?
Crypto prediction – altcoin season to occur in 2024
The first question to solve: when will alt season 2024 kick off?
Essentially, the first leg of this new alt season is already complete It started in October of 2023, and it is hitting resistance now.
The chart we use to make this point, is the market cap of crypto markets excl. BTC and ETH. There is no better way to track what altcoins are doing. This is one of the charts we use in our premium crypto service to time our entries and exits, but also to understand the level of participation in the altcoin universe.
Key take-away of this chart: once 509 billion market cap excl. BTC and ETH is exceeded, alt season 2024 will be officially kicking off.
Chart update: March 1st, 2024.
Bitcoin dominance – The big breakdown of 2024
The above chart makes sense when looked at together with Bitcoin’s dominance, below, which is breaking down. After 12 months of dominance, BTC is giving up.
Chart update: March 1st, 2024.
No surprise, this BTC dominance breakdown is happening right at a time when the long-awaited BTC ETF approval occurred.
Buy the rumor, sell the news.
The problem with this is that the majority of investors have been waiting to enter crypto markets, arguably via one of the Bitcoin ETFs, until the approval was confirmed.
That’s too late, way too late.
The focus is wrong. It’s not Bitcoin, but altcoins where the big, big money will be made… only by a happy few though.
Anecdotal evidence: even the hashtag #altseason on X is a boring feed. Our crypto prediction: posts with this hashtag will be full of excitement by summer of 2024, when it will be too late to take positions.
Alt season 2024 will start with a drop
Arguably, before alt season 2024 will kick off, it might come with a drop in BTC. In a way, it makes sense that an explosive run starts with a drop. The market loves to mislead bulls, particularly at the start and end of bull markets.
The BTC chart says it all – 45.6k, the bullish price prediction which we shared with premium members back in the summer of 2023, now provides big resistance. This chart with these annotations has been shared with premium members since almost a year, with targets and patterns annotated on the chart (below).
Chart update: March 1st, 2024.
When zooming out it becomes clear that a drop in BTC would simply amplify the long term bullish structure, in the context of a 7-year rising channel. This is super bullish, long term, but a drop is very likely, the drop that will result in alt season 2024 (once the drop will be complete).
Bi-furcated altcoin market – hybrid alt season 2024
As explained recently, alt season 2024 is based on our prediction of a hidden crypto bull market.
Here is the bad news: the crypto bull market will be hidden, the majority of investors will only find out once top tokens have gone up way too high.
Investors will be looking at the hottest altcoins of 2023. Think Solana, think Stacks, think Fetch.ai.
The new trend that is arising in crypto markets will occur in other tokens. Here is an illustration of one of the winners (sign up): this cryptocurrency can rise up to 8x.
Are you ready for a complicated alt season 2024?
Here is the good news: subscribers of our premium service will be well positioned to hit the multi-baggers of 2024.
Even in 2023, which was widely accepted to be ‘crypto winter’, we tipped the following multi-baggers for our members:
- Fetch.ai – strong buy sent to members two days before a 800% rally started.
- Thorchain – buy alert sent to members the day a 600% rally started.
- Optimism – warm recommendation sent to members before a 300% rally started.
- Solana – strong buy sent to members when it was trading between 20 and 30 USD around summer time.
The list is much longer.
Some tokens like XRP did not explode yet, but some laggards are looking ready to move much higher in March and April of 2024, before hitting a local top.
We are confident that we will help our premium members in 2024 similar to how we helped them with highly accurate alerts, perfect entries, great altcoin tips.
Read our crypto research articles
This is how we are guiding our premium members:
- Which Cryptocurrencies To Buy Now? (Feb 29th, 2024)
- Meme Coins Breaking Out. Here Is Our Top Three. (Feb 26th, 2024)
- The Highest Risk Reward Solana Play – A 100x Candidate (Feb 18th, 2024)
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Disclaimer: This is not financial advice. Please consult with a financial advisor prior to making any investments.
