Alt Season: How to Position Yourself on OKEx Exchange.
There has been a surge in the growth of crypto currencies lately, a number of Altcoins are outperforming Bitcoin. Due to this, crypto currency experts are convinced that a new “altcoin season” may be in view very soon. It’s safe to say that the AltSeason has affected and will be affecting the OKEx as one top exchanges in crypto and major point of concentration for altcoins
AltSeason is when altcoins witness a massive increase in value. This is not a very common phenomena in crypto. A notable AltSeason history will always remember can be traced back to December 2017, when several cryptocurrencies attained a massive increase ranging from 100% and 500%. A perfect comparison of the Altseason is Christmas!
Almost all crypto- enthusiasts rely on exchanges, and OKEx is one of the best among the numerous exchanges in the world today. Right now, it caters for over 20 million clients, making it rank as one of the largest crypto exchanges.
The OKEx Exchange has a native token referred to as “OKB”. The OKB token has a lot of utility on OKEx and its holders enjoy lots of benefits which includes exclusive access to giveaways, discounted fees and so on. The good thing about this OKEx is that it caters for both experts and newcomers in the crypto realm.
To get involved in the AltSeason on OKEx Exchange, smart investors and crypto enthusiasts do two things:
A. Try to find out when the AltSeason will begin.
B. Then run a research on which coins they expect to increase in value based on some criteria.
Spotting the beginning of an Altseason is somewhat easy, all you have to do is diligently look out for the BTC dominance on a reputable exchange, like OKEx of course.
BTC dominance refers to the ratio of bitcoin against all altcoins in the crypto market, a significant fall in the ratio of Bitcoin against altcoins in the market will signal a high probability of an impending AltSeason. You can link the decline in BTC dominance to an increase in the sell-off of Bitcoin. This scenario obeys the simple law of demand and supply in the economy.
An increase in the sales of BTC usually leads to a reduction in its value. This is what will prompt other BTC holders to either sell their yields for fiat currency or other Altcoins due to panic or fear of missing out on an impending AltSeason.
When BTC is exchanged for Altcoins in large volumes, several investors will not want to be left out on the altseason and therefore a large amount of capital is injected into the altcoins within a very short period of time which eventually results in a significant surge in the value and prices of altcoins.
It is easy to know when the AltSeason will begin by monitoring the value of BTC on OKEx Exchange
To make the right choice of Altcoins on OKEx, it is advisable that you have a portfolio of Altcoins that you’ll want to invest in just before the start of an Altseason.
OKEx Exchange offers tools that allow users know how strong a coin/token is in the crypto market. Therefore, the issue of carrying out a research on your own cannot be overemphasized.
No one can really state for a fact when an AltSeason may pop up without looking at the BTC dominance. To safeguard getting in at the right time, watching the BTC dominance on OKEx Exchange may be something to watch out for by all crypto users/personalities/enthusiast.
