Bitcoin is outperforming 96% (48/50) of the top 50 alt coins. Bitcoin has not shown such incredible strength compared to alts since September 2019, which is over 1300 days ago
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Bitcoin is outperforming all top 50 alt coins, except for 2, over a 90 day period. The last time Bitcoin showed so much strength relative to alts over a 90 day period was September 2019 – over 1300 days ago!
Explanation: The Altcoin Season Index quantifies the strength of Bitcoin vs. top alt coins on a scale of 0 to 100. A score of 0 means Bitcoin outperformed the 50 biggest altcoins over a 90 day period and a score of 100 means that Bitcoin was outperformed by the 50 biggest altcoins over a 90 day period. The score is now 4!
Some fun takeaways:
In September 2019, when Bitcoin outperformed 96% and even 98% of the top 50 alts, the conditions were Similar. The 2018/2019 bear just ended as we had a pump off the lows followed by a relatively small correction. After Bitcoin outperformed the alts hard in 2019, we saw a bit more of a correction before further upside. Though COVID ruined the party back then as more downside followed. The worst performers: ALGO, APE, HBAR, APT. Only 7 alts are in the green, even though Bitcoin gained 18.5%. Conclusion: Bitcoin is the King! But we might see some room for the queen and princes to shine next.
submitted by /u/Beyonderr
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