Altcoin Surge Sparks Speculation of Impending ‘Alt Season’ on Social Media
Altcoins have experienced a remarkable surge, surpassing Bitcoin’s 23% increase against the U.S. dollar in the past month and prompting discussions about the onset of “Alt Season” across social media platforms.
Notably, platforms like Twitter (referred to as X) have witnessed thousands of conversations about altcoins, with enthusiasts like Alex Wacy expressing expectations for a potential full-blown altseason in 2024. Social media channels, including X, Facebook, and the r/cryptocurrency subreddit, are abuzz with discussions urging followers to consider altcoin investments.
The last notable altcoin season occurred in early 2021, marked by significant price jumps in coins like dogecoin and solana. Google Trends data indicates a growing public interest, with increasing searches for “altcoins” and “Alt Season” over the past 90 days. Despite this, the Blockchain Center’s Altcoin Season Index suggests that, according to its criteria, it is not yet Altcoin Season, with a current score of 39, although it approached the threshold at the end of September.
Clever Robot News Desk 22nd November 2023
