Looking for feedback on current alt season index levels

[Galivix Bennet]

A couple months back I finally decided to dive into crypto. I read a great deal about previous cycles on the web and purchased a basket of various altcoins, primarily Layer 2 solutions and a few promising DeFi projects that were suggested in a chat. But here’s the thing – Bitcoin’s been creeping up, while my coins are, like, stuck. Yesterday, I came across the alt season index on iTrusty website, which is currently showing 71 out of 100, and that brought me a bit of cheer, since 35 out of 49 top altcoins are still outperforming Bitcoin for the week. But I’m worried about the Neutral status, and ETH/BTC seems to be kinda uncertain right now. Even though the experts are saying that the big players are still doing their thing. Do you think it’s better to wait patiently for the index to break 80, or is the current rise to 71 close to the peak?

• This topic was modified 19 hours, 15 minutes ago by Galivix Bennet.

[Damon White]

Listen, the situation is exactly like what I experienced last year, when I was also waiting for an altcoin rocket, but they just wouldn’t make a move. An index of 71 is actually a very good sign — it means the market has already woken up, but it’s not yet overheated like in 2021, when everything was shooting to the moon indiscriminately. Right now, I’m focusing more on how fundamental projects behave, and the fact that DeFi and Layer 1 protocols are driving the market up gives confidence in this growth. By the way, which Layer 2 coins do you hold in your portfolio, if it’s not a secret? I’d suggest not panicking for now and keeping an eye on Ethereum: if it consolidates above its local highs against Bitcoin, we could quickly see 80, even 90 on the index, and that’s when things really start heating up across all sectors.

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