When Covid rolled across the world — bringing about lockdowns and meme stocks — we all took the news of swans and dolphins reclaiming Venice canals as a positive sign.
There may be a silver-lining to this whole experience. This is a moment to let the world stretch out its wings while humans reassess consumption.
It was unfortunately fake news. The pandemic did not cause dolphins to appear in Venice’s canals, and the global output of coal has increased. Earth has never returned to its natural state.
About five years on, the crypto world is still looking out for their own false dolphin news. This is a sign that the altcoin boom will return in full force, with massive gains.
Maybe XRP will flip SOL when markets temporarily rotate away from memecoins and AI.
“Altcoin season” The concept of waiting has diluted the idea. Empire uses a conservative definition, which is meant to apply the term only during periods of sustained and massive returns.
It’s true, we are getting there.
Altcoin season: When the market cap growth of altcoins — as represented by everything outside of the top 10 — eclipses bitcoin’s since the bottom of the cycle for three months or more.
The altcoin era can begin when the above chart shows the purple line surpassing the orange. As that happens fairly often, altcoin season is only properly confirmed once it has beaten bitcoin for capitalization growth over an extended period — when the altcoin pumps are real enough to retain it all.
This is a retroactive model. It’s a retrospective model.
This is the longest time gap of all.
This is good news! The altcoin markets just recorded their best performance against Bitcoin (on a rolling basis) for the entire cycle that began in November 2022.
BTC’s market cap shrunk by 0.3% while the altcoin market (minus the top 10) grew by 13.9% — a difference of 14.2%.
Bitcoin is trading in a sideways fashion. Our first condition would be satisfied if the capitalizations of altcoins rose by only around 20%.
Sounds like a lot. The altcoins market alone has grown by more than twice in just the last five weeks.
Crypto is therapeutic
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