Crypto total 2 marketcap(Excluding BTC) has been boring until October or November in BTC halving years.
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I wanted to check the tendency of the crypto total 2 marketcap(Hereinafter, altcoin marketcap) before entering altseasons. So, I checked 2016 data.
In 2016, the altcoin marketcap had been consolidating until November. 2016 was the 2nd BTC(Bitcoin) halving year.
In 2020, the altcoin marketcap had been consolidating until October. 2020 was a BTC halving year as well.
Then, a few months later, the altcoin marketcap broke 2018 ATH(All Time High) in February 2021.
Alright, let's take a look at the recent data 🤔 Compared to the past data, this summer has been done same thing.
Is it coincidental? I don't think so. I assume the main reason is BTC halving years. BTC dominance tends to be strengthen in BTC halving years so far. As long as the BTC dominance indicates strong, It shrinks weak hands' altcoiners. Unfortunately, I realized it in this cycle 🥲 I should have known it in 2021.
If this cycle follows the past tendency, the altcoin marketcap will consolidate one month more.
Personally, I look forward to 10 times of altcoin market growth this cycle, which means around $10T.
However, If the altcoin market exponentially grows the next first quarter, it might require to increase cash ratio. Summer season tends to be bearish so far. I hate the summer season in crypto 🤬
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