Just the other day, someone dropped a bombshell: "We're already in phase 4 of the current bull run." What?!!😲😲 Are we done already? Is this it? Are we not going to see a 10,000x rally 🚀🚀like some of the moonshot altcoins in the past?
At first, I thought it was a bit premature to say we're in phase 4. I mean, Bitcoin's still trading below $100,000, and the overall market sentiment is still relatively bullish. But then I started digging deeper.
As I checked CoinMarketCap, I saw that Bitcoin's dominance is sitting at 55.6%. That's a pretty significant chunk of the market capitalization. When Bitcoin takes up that much space, it can be tough for altcoins to breathe. And that's exactly what's happening - most altcoins are bearish today.
But here's the thing: phase 4 of a bull run is typically characterized by a period of consolidation and distribution. It's like the market is taking a deep breath before the final push upwards. And if we're already in phase 4, that means we might be due for a period of altcoin rallies.
The Crypto Fear and Greed Index is currently at 79, which tells me that the market sentiment is pretty neutral right now. It's not extremely bullish or bearish, just... meh. And when the sentiment is neutral, it can be hard for altcoins to gain any real traction.
But the Altcoin Season Index is currently at 73, which tells me that altcoins are not performing as well as Bitcoin right now. It's like they're trying to get attention at the party, but Bitcoin's just too loud.
So, are we done already? I don't think so. I think we're just taking a breather before the next leg up. And when that happens, altcoins might just rally in a big way. We might not see a 10,000x rally, but we could definitely see some significant gains.
So, don't lose hope, fellow crypto enthusiasts. We're not done yet. The party's just getting started.
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