Is February the Month Altcoins Rise from the Dead? 🪙💀

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Once again, the crypto markets find themselves in a state of disarray, akin to a winter’s day where the sun refuses to shine. The total capitalization has taken a tumble, losing approximately 3% in the span of a mere 24 hours, now languishing at a paltry $3.24 trillion. Ah, the sweet scent of despair wafts through the air!

As is customary, the altcoins bear the brunt of this misfortune, bleeding profusely throughout the month. Yet, history, that fickle mistress, whispers tales of February as a time of rebirth for these beleaguered coins. Could it be that the cycle of life, or rather, the cycle of altcoins, is about to repeat itself?

“The markets appear as bleak as a Russian winter, and the naysayers are proclaiming the demise of altcoins. But might we be on the cusp of a miraculous bounce?” pondered the astute analyst Miles Deutscher on the 19th of February.

He noted that February has often marked a local nadir in the “OTHERS/BTC ratio” during this stage of the four-year cycle. A curious observation, indeed!

Markets look bleak and everyone is calling for the death of altcoins, but could we be in store for a bounce soon?

February has historically marked a local bottom in the OTHERS/BTC ratio at this stage in the 4-year cycle.

What if…

— Miles Deutscher (@milesdeutscher) February 18, 2025

When, Oh When, Will Altseason Arrive?

Another sage, known as ‘Mister Crypto,’ has observed a peculiar phenomenon: a Bitcoin dominance wick appears just before the onset of altseason, as evidenced in the cycles of 2017 and 2021. How quaint!

This metric recently spiked to a four-year high of 64.3% before retreating slightly to a still-impressive 61.3%, according to the oracle known as Tradingview. Some have suggested that Bitcoin must first reach a dominance of 70% before it begins to wane, heralding the dawn of altseason. How delightfully dramatic!

We always get a dominance wick right before altseason.

It happened in 2017 & in 2021…

It will happen again in 2025!

— Mister Crypto (@misterrcrypto) February 18, 2025

Then there is the analyst ‘Kaleo,’ who asserts that we have yet to witness the true heart of the bull market. His words are as bold as a bear in a china shop!

“What we saw in memes is comparable to the growth we saw in coins during DeFi summer at the early stages of last cycle,” he declared.

Indeed, it was a “mini-altseason” following a prolonged bear market, leading to the next Bitcoin all-time high and the subsequent wave of L1 ecosystem growth. How poetic!

He further posited that we are entering an era of unprecedented regulatory ease in the crypto market, coupled with support from the highest echelons of government. A veritable utopia for altcoins!

“I have a very hard time believing that we don’t see significant growth in the altcoin sector outside of *just* meme coins.”

The Meme Coin Bubble: A Comedy of Errors

Meme coins have played a starring role in this altcoin saga, yet many of them are devoid of purpose or utility, mere puppets in a grand pump-and-dump scheme orchestrated by insiders profiting off the naivety of retail investors. How tragically amusing!

The fallout from these meme coin scandals has wreaked havoc on the Solana ecosystem, with SOL plummeting nearly 45% in just a month, as the network was primarily utilized for minting and trading these dubious tokens. A true tragedy!

SOL has now reached its lowest price since the 5th of November, falling below $162. Other notable casualties include Cardano, down 6%, Chainlink, down 4.3%, and Hyperliquid, which has taken a nosedive of over 14% today. Such is the cruel fate of the crypto realm!

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2025-02-19 10:19