When Will Altcoin Season Start? Top Altcoins to Invest In 2024

Introduction

Many crypto holders are waiting for the next altcoin season. A period when many altcoins experience significant growth by ten or hungred times. So many questions in the air, like "When will it start?" and "Which altcoins should you invest in?", it's easy to feel overwhelmed. In this article, we'll break down what to expect in the coming months, help you spot the right time to invest, and highlight some altcoins that might be worth your attention and the most important what triggers altcoin season?

When will the altcoin season start?

So, when does altcoin season actually start? Well, I’ve learned from my own experience that timing is everything in crypto. Altcoin season usually kicks in when Bitcoin starts losing its dominance. Right now, Bitcoin dominance is still high—it’s sitting above 55%, as you can see in the chart below.

This matters because altcoin season is that magical time when altcoins outperform Bitcoin in price gains. If you’ve been in the crypto game for a bit, you know how frustrating it can be to watch Bitcoin stay relatively stable while smaller coins are pumping like crazy. That's why it’s important to track indicators like the altcoin season index and the Bitcoin dominance chart. I’ve spent hours looking at these charts (maybe too many hours!) trying to figure out when the tide will turn.

Which altcoins should you invest in?

When looking for altcoins to invest in, in my opinion, only those that have outperformed Bitcoin have the potential to grow in the future. I've analyzed many cryptocurrencies, but there are a few that I've chosen to invest in.

Ethereum ($ETH) 

Ethereum is a decentralized, open-source blockchain that has its own cryptocurrency called ETH. It serves as a platform for many other cryptocurrencies and allows the execution of decentralized smart contracts.

According to experts, there has only been one other time when Ethereum's price ended three consecutive months in the red, and that was during the start of the 2018 bear market.The Ethereumm price will rise above $3,000 in September.

Green Metaverse Token ($GMT)

GMT is the native token of the FSL ecosystem, and I’ve got some personal history with this one. I remember when GMT shot up in price—literally going from $0.25 to $4 within a few weeks just before the "crypto winter" hit. That was a crazy ride! I didn’t catch the first pump, but I jumped in later because I saw how quickly it could gain momentum. In the chart below, you can see it had another big surge recently. When I see people buying, I usually follow the herd (with caution, of course), and I’m still holding some GMT in my wallet.

Aptos ($APT)

Aptos is a Layer 1 Proof-of-Stake blockchain, and what caught my attention about it is that it uses a programming language called Move, developed by Meta’s Diem team (yep, Facebook’s crypto project). I haven’t been holding Aptos for too long, but I’ve noticed it’s been battling resistance around $20. If the price drops below $6, I might even add some more to my bag because I’ve got a feeling it could be a sleeper hit when the market flips bullish again.

What Triggers an Altcoin Season?

Speaking of altcoin season, there are several factors you should take into account before investing. The cryptocurrency market known for its cycles of volatility. Between these cycles is the altcoin season. When many alternative cryptocurrencies (altcoins) outperform Bitcoin. In other words, when Bitcoin Dominance is low. 

On the chart below BTC.D you can see current dominance percentage of Bitcoin over altcoins. At this moment, it's relatively high, above 57%. It can go even further to retest 70%, so be cautious. This high dominance gives investors an opportunity to buy more coins before it goes down to 40%. There is a good spot to sell, as you can see, this support level has been many times tested. 

Potential Risks and Pitfalls

Don't underestimate the crypto market. There is always a risk of high volatility, potential price swings, and other manipulative tactics prevalent in less regulated markets. Sudden regulatory changes can impact altcoin prices and market dynamics. People are doing common mistakes when investing in cryptocurrency.