Altcoin Google searches spike to 2021 all-time highs
Key Takeaways
Google searches for ‘altcoins’ hit a record high of 100 on November 30, driven by overall market optimism post-election.
The Altcoin Season Index has risen to 89, indicating strong market performance relative to Bitcoin.
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Google Trends data shows a big spike in interest in “altcoins” as of December 4, reaching a score of 88 out of 100. This nearly matches all-time highs seen during the altcoin season in 2021.
Interest in “altcoins” started to climb in early November, following Donald Trump’s election victory. Short-term Google Trends data reveals a sharper increase, with searches peaking at 100 on November 30.
Google Trends data previously showed that search interest in “Bitcoin” climbed to 100 during Trump’s recent election win. At that time, Bitcoin soared to an impressive high of $85,000 and later established a new record of $99,600 on November 22, per CoinMarketCap.
The surge in “altcoins” searches marks a reversal from the previous period of January 2022 to November 2023, when interest had dropped to a five-year low of 5, before recovering to 21 in December 2023.
Altcoin Season Index climbs to 89
The Altcoin Season 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 crypto assets excluding stablecoins and wrapped tokens over 90 days, considers scores above 75 as confirmation of an Altcoin Season.
Ethereum’s price movement above $3,800 has bolstered confidence in the altcoin market, spurring investment flows into smaller-cap altcoins.
Virtuals Protocol, an AI agent deployment ecosystem that recently hit $1.4 billion in market cap, leads performance among the top 100 coins over the 90-day period.
Meme tokens including PNUT, DOGE, PEPE, and BRETT have also gained momentum amid increased market activity, while legacy crypto assets have experienced renewed interest in recent days.
While 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’s also important to note that several factors can lead to corrections in the market, including macroeconomic conditions and political conflicts like South Korea’s recent declaration of emergency martial law.
The Federal Reserve will decide on interest rates during its upcoming meeting scheduled for December 17-18.
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