With the recent rise in altcoins seen in the past few weeks, soon comes the doubt about whether we are entering an altseason like that of 2017.
To assist in this analysis, the website https://www.blockchaincenter.com/altoin-season-index/ created the Altcoin Season Index indicator to identify possible altseason moments.
Based on a 90-day period, the indicator calculates the performance of the top 50 altcoins in relation to Bitcoin. The more altcoins are performing better than Bitcoin, the greater the strength of the indicator.
If 75% of altcoins are up against Bitcoin in the last 3 months, then, according to the indicator, and let's star in altseason.
The calculation is simple: divide the amount of coins that are performing better than Bitcoin by the top 50 and multiply by 100.
A simple indicator, but it can be used as an additional tool for day-to-day analysis. This indicator alone should not be used for decision making.
At the moment, the indicator is at 63, not indicating an altseason, despite the exponential gains that some altcoins have been making in recent weeks.
