Recently, a number of altcoins seem to be outperforming Bitcoin through their percentages of growth. Before this surge in the altcoin growth came, many cryptocurrency experts have noted that a new altcoin season may be upon us soon, and OK Exchange seems to be at the forefront of it.
A number of altcoins have seen massive gains, with some raking in triple digits percentage growth. Before we go further to analyze, how the AltSeason is affecting the OKExchange world, let's define AltSeason.
AltSeason: What Is It?
This is a season when altcoins, coins apart from Bitcoin, witness a massive increase in their values. A number of AltSeasons have occurred in the past, but the most powerful of them all was in December 2017. Many cryptocurrencies achieved a massive increase, which ran into 100% to 500%.
Smart investors see AltSeason as the Black Friday Market of cryptocurrencies because during this period, they can make massive earnings, based on the strategy they utilize.
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How To Jump On The AltSeason With OKExchange
There's hardly any crypto enthusiast that doesn't rely on exchanges. Out of the numerous exchanges that may be in existence, the OKEx is one of the strongest. It currently caters to more than twenty million clients, while being ranked using trading volume as one of the largest cryptocurrency exchanges.
For this exchange, the native token is the OKB. Users of this utility token have access to a lot of advantages. They tend to enjoy giveaways, reduced fees and so much more.
OKEx can be likened to the Wall Street markets, as it witnesses different trades amongst digital assets like futures. This exchange caters to both experts in the crypto realm and newcomers that are interested in buying coins and speculating about their future value.
Steps To Take To Get Involved In The AltSeason On OKExchange
Smart investors and crypto enthusiasts usually follow some steps to ensure that they benefit from this season.
• They try to find out when the AltSeason will begin.
• They then run research on which coins they expect to increase in value based on some criteria.
Finding Out The Start Of The AltSeason
It's easy to spot the beginning of this season by looking at the BTC dominance on a reputable exchange like OKExchange. When we talk about BTC dominance, we mean the slice that the Bitcoin holds in the market. When BTC dominance declines, the probability of AltSeason occurring increases. A decline in BTC dominance can be linked to an increase in the sales of Bitcoin. This obeys the simple Economic law of demand and supply. When there is an increase in the sales of BTC, the value will reduce. This will prompt other holders of BTC to either sell theirs for fiat currency or Altcoin.
When BTC is exchanged for Altcoin in large numbers, many investors won't want to be left out of the alternative coin market, and before you can utter, Jack Robinson, a large amount of capital is injected into it. An increase in purchase of these alternative coins will lead to an increase in their value.
It is easy to know when the AltSeason will begin by monitoring the value of BTC on OKExchange.Choosing The Right AltCoins on OKExchange
It is advisable to have a portfolio of altcoins that you'll want to invest in before the AltSeason is upon you. A great way to know which ones will be big winners is by looking at their fundamentals, making use of bullish chartist configurations or utilizing both. OKExchange offers users tools that allow them know how strong a coin is. We can't overemphasize the importance of carrying out your own research.
Conclusion
The truth is that no one can state for a fact when an AltSeason may pop up without looking at the BTC dominance. To allow you to jump in at the right time, watching the BTC dominance on OKExchange may not be a bad idea.