Bitcoin Bull Market Reaches Day 799, Altcoin Season Lags Behind
Today marks day 799 of the bitcoin bull market, spanning about 26.5 months. Historical data indicates that past bitcoin bull markets have averaged around 1,000 days.
Key points:
- Bitcoin's price has increased from $15,474 to $99,000, achieving a 6.6x growth.
- Current performance aligns with previous cycles, despite a recent divergence.
- No confirmed altcoin season, with altcoins underperforming; they have grown 4.4x but are lagging behind bitcoin, which is 210% ahead.
Altcoin seasons are defined by periods when altcoins outperform bitcoin for at least 90 consecutive days. Historical altcoin seasons occurred:
- Mid-2016 to early 2018
- First half of 2019
- Most of 2020 during DeFi Summer
Currently, the focus remains on bitcoin.