Important takeaways
- Google searches for “altcoins” reached a record high of 100 on November 30, driven by post-election market optimism.
- The Altcoin Season Index has risen to 89, indicating strong market development relative to Bitcoin.
Google Trends data shows a large increase in interest in “altcoins” on December 4th, reaching a score of 88 out of 100. This nearly matches the all-time highs seen in the 2021 altcoin season.
Interest in “altcoins” began to rise in early November, after Donald Trump’s election victory. Short-term Google Trends data reveals a sharper increase, with searches topping 100 on November 30.
Google Trends data previously showed that search interest in “Bitcoin” climbed to 100 during Trump’s recent election victory. At the time, Bitcoin soared to an impressive peak of $85,000 and later established a new record high of $99,600 on November 22, per CoinMarketCap.
The increase in “altcoins” searches marks a reversal from the previous period of January 2022 to November 2023, when interest had fallen to a five-year low of 5, before recovering to 21 in December 2023.
Altcoin Season Index climbs to 89
The Altcoin seasonal index on CoinMarketCap rose to 89 on Wednesday, indicating strong altcoin market dominance relative to Bitcoin. The index, which tracks the performance of the top 100 cryptoassets excluding stablecoins and wrapped tokens over 90 days, considers scores above 75 as confirmation of an Altcoin season.
Ethereum’s price move above $3,800 has bolstered confidence in the altcoin market, spurring investment flows into smaller-cap altcoins.
Virtuals Protocol, an ecosystem for implementing AI agents that recently took off $1.4 billion in market capitalizationleads performance among the top 100 coins over the 90-day period.
Meme tokens including PNUT, DOGE, PEPE and BRETT have also picked up amid increased market activity, while older crypto assets have seen renewed interest in recent days.
Although the altcoin season comes with potentially high returns, it is also characterized by high volatility. Investors should implement risk management strategies during altcoin seasons to mitigate potential losses.
It is also important to note that several factors can lead to market corrections, including macroeconomic conditions and political conflicts such as South Korea’s recent declaration of emergency legislation.
The Federal Reserve will decide on interest rates during its upcoming meeting scheduled for December 17-18.
