For many years, altcoin season has followed a predictable pattern that most people in the crypto community have adhered to with religious fervor. Once Bitcoin hits its stride, everyone one starts pumping and shilling their favorite altcoins. Everyone profits, and everyone is happy. Lately, however, savvy crypto investors have been wondering if this pattern will be sustainable. The smart money is on altcoins making their own way in the world now, breaking away from BTC and following their own trends and curves. Although this will be a huge departure from the status quo, it certainly heralds an exciting time for crypto in general.
With crypto in general becoming more mainstream than ever before, it makes sense that altcoins are no longer inextricably tied to BTC in the way they once were. After all, even most of the American population has heard the acronym NFT this year, even if they don't have a precise idea of what it is. Meanwhile, DeFi has also taken on a life of its own. As BTC tumbled recently, decentralized finance mavens held onto their stablecoins and continued business as usual. Before, when Bitcoin sneezed, the rest of the crypto market came down with the flu. With the new evolution of crypto, it would seem that investors are no longer as nervous when one part of the market falls apart a bit.
Also, for those who were hoping to take advantage of an altcoin season with penny coins, this definitively was not the time for it. In fact, the coins that have been performing well are mostly over a dollar. DOGE, with its famous promoter Elon Musk often singing its praises, seems to be in a unique position. Litecoin (LTC), which is now just south of $200, also appears to be doing just fine during the new version of an alt season. Whatever the future may hold, it's never been a more intriguing time to bet on alts.