Google Trends shows a surge in “altcoin” searches, reaching 88 out of 100 by December 4, nearing 2021 levels. Interest spiked after Trump’s election, mirroring a peak in “Bitcoin” searches as BTC hit $99,600 in November.
As of December 4, Google Trends data indicates a significant increase in interest in “altcoins,” with a score of 88 out of 100. This is virtually identical to the all-time highs observed during the altcoin season in 2021.
Following Donald Trump’s election victory, interest in “altcoins” began to increase in early November. The short-term Google Trends data indicates a more significant increase, with searches reaching a climax of 100 on November 30.
Google Trends data previously indicated that the search interest in “Bitcoin” increased to 100 during Trump’s recent election victory. At that time, Bitcoin reached a remarkable high of $85,000 and subsequently set a new record of $99,600 on November 22, according to CoinMarketCap.
The increase in searches for “altcoins” represents a shift from the previous period of January 2022 to November 2023, during which interest had fallen to a five-year low of 5, before rebounding to 21 in December 2023.
The Altcoin Season Index has increased to 89.
On Wednesday, the Altcoin Season Index on CoinMarketCap increased to 89, suggesting that the altcoin market is significantly dominant in comparison to Bitcoin.
The index, which monitors the performance of the top 100 crypto assets over a 90-day period, excludes stablecoins and bundled tokens. Scores exceeding 75 are considered indicative of an Altcoin Season for the index.
Investment flows into smaller-cap altcoins have been stimulated by Ethereum’s price movement above $3,800, which has bolstered confidence in the altcoin market.
The performance of the top 100 coins over the 90-day period is led by Virtuals Protocol, an AI agent deployment ecosystem that recently achieved a market cap of $1.4 billion.
In recent days, legacy crypto assets have experienced renewed interest, while meme tokens such as PNUT, DOGE, PEPE, and BRETT have also gained momentum amid increased market activity.
Although the altcoin season has the potential to generate substantial returns, it is also distinguished by its high volatility. To mitigate potential losses, investors should employ risk management strategies during altcoin seasons.
It is also crucial to acknowledge that a variety of factors, such as macroeconomic conditions and political conflicts such as South Korea’s recent declaration of emergency martial law, can result in market corrections.
The Federal Reserve will determine interest rates at its forthcoming meeting on December 17-18.
