Altcoin Season May Earn 1 100% Win If / When Next Bull Run Begins

The cryptocurrency market has seen prices of most coins fall as Bitcoin [BTC], the largest cryptocurrency, faced a major fall on April 21. However, if Thomas Lee, a bitcoin enthusiast, must be credible, the correlation between Bitcoin and altcoins could generate gains of 1,100% similar to those of the 2017-2018 bullish race.

Lee on his Twitter account explained that the first "prerequisite" for the start of the season is a decline in the correlation between altcoins and Bitcoin. [BTC]. This trend was observed before the start of the 2017-2018 bull run. Lee produced a graph to mark the similarities.

Source: Twitter

On the chart above, Lee marked the collapse of the correlation from March 2016 to May 2016, from March 2017 to May 2017, from November 2017 to January 2018, and the current trend seemed to be forming from March 2019.

According to Lee, this correlation between altcoins and Bitcoins can record the gains of the previous season by 1,100%.

Source: Twitter

Lee said:

"Will the next season be as strong as the past? Given that there are probably only active portfolios of around 50mm (vs. 5bn Visa / MasterCard), we believe that crypto is still at the beginning of the adoption curve. So, it should be similar "

However, the current decline of 0.99% Bitcoin [BTC] has caused many altcoins like Binance Coin [BNB], XRP, Ethereum [ETH], Litecoin [LTC]and Cardano [ADA] to fall by a huge margin. Litecoin, among the aforementioned parts [LTC] and Cardano have fallen more than 6% in the past 24 hours.

Bitcoin [BTC]at the time of the press, was down 0.99% on the last day and was valued at $ 5,283.27. Over the past seven days, BTC grew by 3.64% and continued to grow 0.30% in less than an hour. The market capitalization of the coin amounted to $ 93.39 and the trading volume over 24 hours was estimated at $ 13.23 billion.