Can Alt Season and Bitcoin Season Occur Simultaneously? For crypto enthusiasts, it has already been quite a year. With BTC prices shooting all the way up to $47,000, it seems as if the sky might be the limit these days. However, what has been incredibly unusual about this cycle is the fact that BTC and altcoins aren't taking turns this time around. Usually, we will see a BTC bull run and then experience excitement in the altcoin market. Right now, though, BTC is trending alongside a lot of popular altcoins. ETH in particular has been having a great time of it. However, it is far from the only altcoin to be defying all the odds recently.
DOGE Puts on a Dazzling Display We have seen DOGE reach dizzying heights in recent days, at least comparatively. Not only does the altcoin have Elon Musk in its corner — he tweeted about it being the "people's crypto" — but other celebrities have also come to its defense. Some were surprised to see singer Kevin Jonas tweeting about DOGE. Of course, much of this recent DOGE bull run was jumpstarted by the Reddit group WallStreetBets, which also pumped up Game Stop and AMC Theaters to dizzying heights. But while those stocks have already tumbled quite a bit, DOGE has been holding relatively steady over the past week or so. After its meteoric rise, there was some settling, but now the alt has risen up once again.
Institutional Investors Swirl Around BTC Suddenly, the traditional financial world has been starting to take Bitcoin seriously. With Tesla rumored to begin accepting BTC as a payment and with many financial firms dipping their toes into BTC, this could be a real moment for BTC and alts alike. But, if the past has taught us anything, it is that there is no way to predict the whims of crypto.