An “Altcoin Season” is a term that is commonly used within the cryptocurrency community. The first thing to understand is the term “altcoin” itself. It refers to all the digital currencies besides Bitcoin, also known as alternative cryptocurrencies.
With this said, an Altcoin season is a market condition where a lot of the alternative cryptocurrencies are increasing their value against the USD or Bitcoin (BTC) or both. Usually, this results in a greater market share of altcoins and a lower of Bitcoin dominance.
While not entirely necessary, Altcoin seasons are also associated with drops in the price of Bitcoin. However, that’s not always the case. There have been occasions when Bitcoin has been on positive momentum, but altcoins were outperforming it, hence climbing to higher market dominance.
Despite the time to time Altcoin seasons, historically, altcoins have so far been unable to catch up with Bitcoin as it remains not only the first cryptocurrency but also the predominant one on the market. It holds much of the total market cap.
Altcoin seasons are also commonly associated with a lot of new developments in the field, in general. For example, back in December 2017 and January 2018, alternative cryptocurrencies were booming because of the then-new phenomenon called Initial Coin Offerings (ICOs).
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