Most professional traders/investors believe that the much anticipated altcoins season will not commence except there are reasonable melt down of the dominance index rates. As a matters of facts, Bitcoin dominance index rate is still bullish at 63% as at the time of writing.
This seems like a reasonable argument, since the amount of money within the "
system" is limited.
Some time ago many traders, retail investors and holders thought that altcoins season has ended earlier this year,
It seems to me that this is true too. Usually altcoins move almost synchronously with the movement of bitcoin. This year, as we see, bitcoin is growing, but altcoins are not. I think that there will be no altcoin season until the next bullrun (cycle).
but I have contrary opinion, i think that altcoins season is yet to commerce, though no technical indicator to validate my opinion, but based on past experiences of the past season, there could be reason to believe that altcoins may be loading waiting to commence any time this year. What are your thoughts?
Everyone has the right to their own opinion. You say there will be an altcoin season, and I say there won't. Time will tell which of us is right.
If money starts flowing from bitcoin to altcoins, it could cause panic due to a drop in the value of bitcoin, which will directly affect the price of altcoins.