Google Trends Confirms Altcoin Season as Interest Matches Record Highs of 2021

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As a seasoned researcher with years of experience in the dynamic world of cryptocurrencies, I must say that the current surge in altcoin interest is reminiscent of a familiar rhythm. The pattern we’re seeing now brings back memories of the 2021 bull run, where altcoins reached unprecedented heights. It seems like history might just be repeating itself, and I can’t help but feel a sense of déjà vu!

At long last, the anticipated altcoin boom has arrived! Analysis of Google Trends data indicates a significant surge in worldwide inquiries about these digital currencies. Interestingly, BeInCrypto noted that current search volumes are comparable to the peak levels reached during the 2021 bull market.

It’s worth noting that the increased attention towards altcoins seems to align with Bitcoin (BTC) crossing the $100,000 mark, implying a potential shift in investment from Bitcoin into other cryptocurrencies as alternatives. Various indicators such as price trends and on-chain data strengthen the notion of an ongoing altcoin boom.

Altcoins Search Climbs to Previous Bull Market Peak

In October, the worldwide interest in altcoins on Google was rated as 11 on Google Trends. The numbers you see next to search terms at the top of a Google Trends chart show their overall search volume. A line trending downwards (near 0) indicates that the term’s popularity is decreasing compared to other terms.

Conversely, a Google Trends score close to 100 indicates maximum search activity for a specific term. At present, the global search for ‘altcoins’ stands at 90, signifying an unusually high level of curiosity surrounding these alternative cryptocurrencies.

The level of interest has been comparable to what was observed during the 2021 bull run, which significantly pushed numerous altcoins to unprecedented highs. Of particular note is the recent achievement of new peak levels by coins such as BNB and Tron (TRX), while other altcoins are nearing similar significant milestones.

Analysts Agree That It’s Altcoins’ Time to Shine

Additionally, this pattern echoes the opinions of multiple industry experts. Many believe that the comparison of altcoins’ performance with Bitcoin (BTC), rather than with the US Dollar, carries more weight. Technical analyst Mr. Anderson is among those who hold this viewpoint.

The person speaking believes that those who think the Altcoin season has already passed are mistaken. In their view, an actual Altcoin season occurs not when Alts increase in value against the U.S. Dollar, but rather when they rise versus Bitcoin. They refer to the USD as a ‘junk coin,’ implying it’s not a reliable standard for comparison. The analyst predicts that the true Altcoin season is yet to come and promises it will be spectacular!

It’s intriguing to observe the recent trends of cryptocurrencies such as Fanton (FTM), Cardano (ADA), and Filecooin (FIL). Over the past month, FTM has climbed a notable 47% against BTC, FIL has seen an increase of 64%, and ADA has outshone them with a stunning 144% growth.

In simple terms, Benjamin Cowen, the creator of IntoTheCryptoverse, is among those who hold this belief. He predicts that altcoins could potentially surpass Bitcoin’s growth rate as far ahead as 2025.

In addition, the Altcoin Season Index lends credence to the surge of altcoins. This index measures the performance of the top 50 cryptocurrencies in comparison to Bitcoin (BTC) over a 90-day period. An ‘altcoin season’ is declared when at least 75% of these assets beat Bitcoin’s performance.

Lately, it’s been reported by BeInCrypto that out of the top 50 alternative cryptocurrencies, 38 initially surpassed Bitcoin’s performance. However, this figure has now dropped to 36. But such temporary decreases are usually normal and don’t undermine the overall trend suggesting an ‘altcoin season,’ where altcoins are performing better than Bitcoin.

TOTAL3 Seems Ready to Continue Rally

Looking at the technology aspect, the TOTAL3 graph, which represents the total market cap of all cryptocurrencies apart from Ethereum (ETH), provides essential information about the current altcoin trend or boom.

Right now, TOTAL3 stands at an impressive $1.08 trillion, indicating a robust altcoin market overall. Furthermore, the Parabolic Stop and Reverse (SAR) indicator, useful for determining potential support or resistance points, currently sits beneath the current market value.

This arrangement indicates an upward trend for altcoins, possibly leading to further growth. Yet, a significant increase in the price of Bitcoin and a return of Bitcoin’s influence might momentarily halt the advancement of the altcoin rally.

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2024-12-05 12:45