Bitcoin has started once again trading sideways after a breakdown from its previous trading range, and when Bitcoin trades sideways, altcoins often get their time to shine.
Thus far in October, altcoins have outperformed Bitcoin by a wide margin, and according to crypto analysts, the surge in alts could last all month long and have dubbed the month of October “Altober,” as a result.
Move Over Alt Season, Bitcoin Beware, Altober Is Here for Altcoins
Related Reading | Bitcoin Dominance Breaks Down As Altcoins Begin to Rebound
The normal term for when altcoins outshine Bitcoin is called an alt season, but the term has been used to the point of meme status over the course of 2019, as each glimmer of hope that altcoins would rebound was stopped short by the king of crypto, Bitcoin.
But now that Bitcoin dropped from local highs, it is now trading in a sideways range – creating the perfect environment for the altcoin market to pop and regain some lost ground against Bitcoin.
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