How is Bitcoin’s dominance affecting the alt season’s schedule

ambcrypto.com:

Many in the crypto-community are eagerly awaiting the altcoin season, with the same expected to set the stage for profits for most of the market.

However, the impending arrival of the season was canceled midway due to the crash of May 2022. In fact, it pushed the advent of the season by several months.

An altcoin season sets in when the performance of 75% of the top-50 cryptocurrencies is better than that of Bitcoin. When the reverse of the same transpires, Bitcoin season comes to the fore.

Now, as reported by AMBCrypto towards the end of March this year, the altseason was expected to materialize within the next few weeks. In fact, it almost did too.

By the end of April, as indicated by the altseason index, the market was halfway through. All it needed was a trigger to precipitate the start of the altseason. 

However, the sudden crash of the Terra ecosystem triggered a market-wide crash, dragging the value of all cryptocurrencies below the $1 trillion mark. By extension, this led to the altcoin season being pushed even more. 

Altcoin Season index | Source: Blockchain Center

Soon after, Bitcoin’s dominance hiked to a 10-month high of 48%. In fact, some are already calling it a Bitcoin season. 

Bitcoin dominance | Source: TradingView – AMBCrypto

Now, at the time of writing, the market had risen above the threshold of the Bitcoin season thanks to gradual recovery over the last three months. This is now giving investors hopes of an incoming altcoin season.

Alas, the same can take anywhere between two to five months, if past transitions are taken into consideration.

It is likely that the altseason might only arrive by the end of this year (December 2022). This, because the correlation of Bitcoin with stock indices has hit 0.63 for