Counterfeit Currency Season May Be Closer Than Expected Heres Why

Cryptocurrency analyst Kevin Swenson believes that the altcoin season—a period when altcoins significantly outperform Bitcoin (BTC)—is inevitable.
Swenson’s bullish prediction is based on the price trends of Bitcoin and Ethereum (ETH), explaining that altcoin season may actually be coming soon, as BTC has broken the parabolic trend and is also seeking consolidation.
He added that while Ethereum, the leading altcoin, is exhibiting exponential trends, this could be the point where altcoins start catching up with Bitcoin.
Swenson added:
Since the beginning of 2023, the story has centered around Bitcoin, with events like BlackRock’s application for a spot BTC exchange-traded fund (ETF), gaining approval, and the [Bitcoin] halving event. Now it’s time to change [the status quo].
Swenson also pointed out Bitcoin’s dominance (BTC.D), which measures BTC’s market capitalization relative to the entire crypto market, as a key indicator of the upcoming altcoin season.


The decline in BTC.D indicates that altcoins are growing in value faster than the flagship cryptocurrency.
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He said:
On a weekly basis, Bitcoin’s dominance is starting to decline. We haven’t seen a lower bottom yet, but we have broken the trendline and have lower highs. Historically, the decline in Bitcoin dominance has triggered altcoin season.
His analysis suggests that with Bitcoin consolidating, the momentum could shift to altcoins, leading to a period of substantial gains for one of the altcoins.