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Altcoin season is a phrase that is quite popular throughout the crypto market. The phrase refers to the run-up in the prices of altcoins after the price of bitcoin slows down. The altcoins usually see an uptick in their individual and collective market dominance, taking even more market share from the top cryptocurrency, bitcoin.

As the coins become more valuable, their prices soar following the increased market share. An altcoin season usually sees most of the altcoins in the market rallying at the same time. With Ethereums price mostly leading the charge once the prices start surging.

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At this point, altcoin prices are no longer following the price of bitcoin as they usually do in the market. Altcoins break away from bitcoin for a period of time and their prices move independently of the cop coin. Now, indications are pointing that an altcoin season is on the horizon. Movement on the charts point to the possibility of this following the current bull rally.

Bitcoin has held a majority share of the market dominance for the longest time. Over the years, this market dominance has seen a declining trend as coins like Ethereum gained more popularity amongst investors in the market. From an over 95% dominance, BTC dominance has gone down over the years to now sit at less than 50%.

Ethereum continues to steal more market share from the pioneer cryptocurrency following each bull market. Steadily trailing behind bitcoin. Altcoins now collectively have over 50% of market dominance, which puts them in a significant position to start growing their prices on their own terms. Instead of being eternally connected to the price movements of BTC.

Ethereum alone now has over 20% of market dominance, a little less than half of what bitcoin has. Bitcoin market dominance has shown declining trends presently, and this puts alts in a position to see an uptick in their market prices, regardless of what direction the price of bitcoin takes.

Related Reading |Bitcoin Accumulation Patterns Shows Rally Might Only Be In Its Early Stages

Indicators like a broken rising wedge show that bitcoins current market dominance is headed for another retest. After this retest will most likely come a decline in the dominance percentage. Giving way for altcoins to take more market share from bitcoin. And as bitcoin continues to move in a perfect downtrend, alts are set to explode following this.

Altcoins have so far continued to do well in the market. The recent rally hasnt been limited to bitcoin alone. Alts all across the market continue to record massive gains on a daily. With some coins recording as much as a 15% price uptick in 24-hour periods as the rally rages on.

Related Reading |Ethereum Set To Explode According To Market Dominance, Crypto Analyst

Increase alt dominance in the market will see alts prices continue to go up even way past when the price of BTC has lost momentum. Investors are always looking for the next big thing and it usually seems to most that they have missed the boat on bitcoin. Hence, they tend to focus on alts in order to find the next coin that will give the same returns bitcoin has given.

This interest in the search for the next bitcoin has been one of the driving forces behind the high values of a lot of altcoins. Also, interesting technologies being built to back up altcoins emerging into the market sees investors putting money into these projects because of the promise of the technologies.

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Why A Shocking Altcoin Season Could Be On The Horizon - NewsBTC

The cryptocurrency market charged full steam ahead on Aug. 11 as the price of Bitcoin (BTC) climbed to $46,743, and bulls are now taking aim at the $48,000 resistance level as the next target.

Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24 hours were IoTeX (IOTX), WINk (WIN) and Dent (DENT).

IOTX continued its hot streak on Wednesday as the altcoins took the position as the top 24-hour gainer for the third day in a row. The gains appear to be connected to the Aug. 11announcement that Coinbase would be listing the token.

Data from Cointelegraph Markets Pro shows that the altcoin has rallied 322% since bottoming at $0.0293 on Aug. 10. The current surge lifted IOTX to a new all-time high at $0.124 on Aug. 11 as its 24-hour trading volume reached $2.75 billion.

VORTECS data from Cointelegraph Markets Pro began to detect a bullish outlook for IOTX on Aug. 10, prior to the recent price rise.

The VORTECS Score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points, including market sentiment, trading volume, recent price movements and Twitter activity.

As seen in the chart above, the VORTECS Score for IOTX elevated into the green zone and reached a high of 70 on Aug. 10, around five hours before its price increased 322% over the next day.

WINk, a Tron-based oracle project, had the second-largest gain in the past 24 hours. The likely catalyst behind the move is growing community excitement over new staking and liquidity provider opportunities, as well as the project'sgaming and nonfungible token features.

Data fromTradingView shows that the price of WIN rallied 80% from a low of $0.00046 on Aug. 10 to an intraday high at $0.00084 on Aug. 11, as its 24-hour trading volume increased by 343%.

WINkLink protocol has now completed its transition from being a strictly gaming-focused platform to a comprehensive oracle system capable of connecting real-world data through its smart contracts.

Related: US dollar downturn aids Bitcoin bulls before $50K BTC price showdown

Dent, a mobile-focused protocol, rounded out the top three performers in the past 24 hours by putting on a 30.5% gain to $0.000456 as its 24-hour trading volume spiked by 200%.

VORTECS data from Cointelegraph Markets Pro began to detect a bullish outlook for DENT on Aug. 7, prior to the recent price rise.

As seen in the chart above, the VORTECS Score for DENT climbed into the green zone beginning Aug. 7 and reached a high of 75 on Aug. 9, around 44 hours before its price began to increase 44% over the next day.

The overall cryptocurrency market cap now stands at $1.935 trillion, and Bitcoins dominance rate is 45%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Altcoins soar while Bitcoin bulls gather strength to attack $48,000 - Cointelegraph

Top altcoin trader and analyst Jason Pizzino is discussing three crypto assets that could be ready to take off in August.

First on the traders list is privacy crypto project Pirate Chain (ARRR), which is Pizzinos top coin for the month.

Pizzino notes that ARRR looks good against Bitcoin (ARRR/BTC) and USD, making higher highs and higher lows in both pairs.

This is my favorite out of the three ARRR was huge This looks good We havent broken out A breakout above $4 would be the confirmation or the safe entry A nice slow, steady pace would be fantastic

ARRR/BTC also looks good We want to see it in a steady rising uptrend: higher highs, higher lows Pirate Chain/BTC, volume, good, hitting some volume at the lows Pirate Chain looks good, and I like the project.

The second asset on Pizzinos radar is FTT, the native token of the FTX exchange. FTT is breaking out of a downtrend, making higher highs in both its USD and BTC pairs, says Pizzino.

The analyst says, however, that FTT will have to make another higher high to confirm the uptrend and the breakout.

Pizzino also discusses Badger DAO (BADGER), a project that aims to bring Bitcoin to other blockchains. He says that BADGER is taking a break from its downtrend as it begins to light up and climb the chart.

Pizzino says that when a project is down significantly from its all-time high, its best to wait to take a position until the asset confirms it is breaking the downtrend and moving back up in price.

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Featured Image: Shutterstock/KHIUS

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Here Are the Top Three Altcoins To Watch This Month, According to Crypto Analyst Jason Pizzino - The Daily Hodl

Even though Bitcoin controls almost half of the entire crypto market, altcoins play a very important role in uplifting the market as well. Looking at the recent performance of some major altcoins, it appears that they have the potential to take the altcoin market cap (Altcap) to higher major levels.

They very much are. Recently, many altcoins made significant gains in the last couple of days. The altcap has been rising steadily over the previous 2 weeks standing at $1.055 trillion at the moment.

It isnt very far away from reaching its ATH of $1.35 trillion and there are some good chances of that happening. If you observe the candlestick movement, you can see how the altcap successfully retested the 2017 ATH.

Additionally, the altcoin market cap breached through the months-long weekly resistance, rising above the April levels.

Moving forward there are very few chances of any more resistance as it gets closer to its ATH (May levels). Supporting this are the indicators Relative Strength Index (RSI) and Chaikin Money Flow (CMF). RSI assesses the overall value of the asset and in the case of altcap, on the weekly chart, it is yet to touch the overbought zone. This means that there is still some opportunity for the alt market to rise.

Additionally, on the daily chart, CMF indicates some huge amounts of capital inflows flowing into the market. This translates into a good sign for the market itself. But when it comes to which alt is doing best, there are some interesting observations.

Overall, almost all coins are doing well thanks to the recent rally. But singling anyone out does not do justice. So apart from Ethereum, the coins which performed in the last couple of days are Cardano, Litecoin, and Polkadot.

At the moment ADA is up by 10.99%, LTC was moving up by 5.7% and DOT raised 3.8%. However, considering the last four days ADA, LTC, and DOT rose by 37.5%, 21.74%, and 12.52% respectively.

Additionally, on-chain data exhibits their overall performance as well. In terms of transaction volumes, ADA has had a consistent volume of $4 billion $5 billion. LTC has a range of $1 billion $4 billion, spiking every now and then.

In terms of daily active addresses even though ADA witnessed a slight drop, for most parts its addresses keep near the 70k range. LTC on the other hand has active addresses of around 300k and rising further. And even though DOT does not have such high number of addresses, they keep up with the rising market as their addresses rise as well.

Thus based on participation and on-chain performance it becomes apparent how these alts are backing up the market. However, do keep in mind that the altcap RSI reaching into the overbought zone could cause a trend reversal, bringing the values down.

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Cardano, Litecoin and Polkadot: What traders need to know - AMBCrypto News

Momentum in the wider cryptocurrency market appears to be on the upswing this week after bulls pushed Bitcoin (BTC) priceto $46,700and Ether (ETH) price to $3,150 on Aug. 9.

The growing optimism has also translated into a bounce in dog-themed memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB), which have both seen their prices rise by more than 55% over the past three weeks.

Dog-themed meme coins caught fire earlier in the year after Dogecoin became the altcoin of choice for influencers like Elon Musk and Mark Cuban. Ethereumco-founder Vitalik Buterin further rocked the boat on May 14 when he liquidated trillions of SHIBtokens and donated the proceeds to charity.

At the time, investors viewed this as further bullish validation, but both projects had been in a rut since the Bitcoin-led market crash that took place on May 19.

Dogecoins trend reversal began on July 20, the same day that Bitcoin price hit abottom at $29,500, as the price of DOGE reached a low of $0.16 before correcting its course and heading higher.

Data fromCointelegraph Markets Pro andTradingView shows that the price of DOGE rallied 78% from a low of $0.159 on July 20 to swing high at $0.284 on Aug. 8 as its 24-hour trading volume surged to $9.3 billion.

Dogecoins recovery got off to a quick start on July 21, following anannouncement from Coinbase Commerce that DOGE could now be used for payments.

Related: Oscar Mayer auctions one-off pack of Hot DOGE Wieners

Shiba Inus recovery also began on July 20 after SHIB dropped to a low of $0.0000057 amid the market-wide sell-off.

In the three weeks since its price bottomed, SHIB has seen a three-fold increase in its 24-hour trading volume, which was followed by a 56% price rally to a weekly high at $0.00000888 on Aug. 8.

The spike in price came after developers announced that a new burning mechanism will be included with new listings on the ShibaSwap exchange. The token burns aim to reduce the circulating supply of SHIB and the protocol's "Doge Killer" (LEASH) token.

In conjunction with the listing of Perlin (PERL) and Ryoshi Token (RYO) on ShibaSwap, $25,000 worth of SHIB and LEASH was burned.

According to the Shiba Inu website, the current circulating supply of LEASH is 107,646 tokens, while the estimated supply of SHIB is 394.8 billion.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Every dog has its day: Dogecoin and Shiba Inu fetch 50% gains as altcoins rally - Cointelegraph