# Alt Coin Season?

*When alt season will come*

By [Trader JAcky](https://paragraph.com/@traderjacky) · 2024-12-18

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/As Bitcoin experiences a minor correction, most altcoins have suffered significant retracements. Currently, Bitcoin's market dominance has returned to a high of 0.6, leading many to worry that altcoins may not make a comeback. I disagree with this sentiment. The recent substantial increase in Bitcoin's value has been largely driven by institutional buyers, which is a significant departure from the dynamics of past bull markets. Bitcoin has evolved into a commodity akin to gold, while the rise of altcoins depends on the genuine Web3 economy. Therefore, we need to closely monitor the exchange rate of ETH/BTC and the trend of ETH itself.

From an exchange rate perspective, ETH/BTC has shown signs of bottoming out and rebounding. In terms of candlestick patterns, ETH has just completed an upward trend in wave 2, starting to consolidate between 3800 and 4080. I believe it still needs to re-consolidate within the range of 3350 to 3900 to initiate the upward trend of wave 3, at which point we could see ETH reach 4800. So, I encourage everyone to hold onto their coins and wait for ETH's explosive growth. The current correction is an excellent opportunity to add to your positions. Keep going!

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*Originally published on [Trader JAcky](https://paragraph.com/@traderjacky/alt-coin-season)*