Altcoin-related Search Volume Just Outnumbered Late 2017 Numbers
The term "Altcoin" refers to any cryptocurrency that is not Bitcoin. The term was created as an abbreviation of "alternative to Bitcoin". Altcoins can be created from scratch, as the Venezuelan Government attempted to do, or it can be created by diverging from Bitcoin consensus rules.
The altcoins which have been the most successful have the same fundamental building blocks as Bitcoin. Altcoins may have different monetary policy rules which encourage different uses and treatment.
Since the big boom in 2017, cryptocurrencies have been on a downward spiral and many crypto enthusiasts have lost hope in the crypto-economy and have turned away from their cryptocurrency investment.
In 2019, things are starting to look up for cryptocurrency and it is proving that it is not as easily swept under the carpet at banks and governments would like to think. Initially, it may have been thought to be a fad which boomed and then collapsed as it slowly disappeared. However, altcoins appear to have spiked and are on the rise. Some altcoins have even rewarded investors with 100% price gains in the last few weeks at the beginning of 2019. This has caused the term "alt season" to grow in popularity and it is has everyone in the crypto community keeping a close eye on what could happen next.
So, it alt season a real thing?
It is always wise to be skeptical when it comes to investing in anything and particularly when investing in cryptocurrency. the cryptocurrency market is known for being volatile, so looking into other factors is a wise path to take before making any decisions.
Taking a closer look into Google Trends would be one place to start. It has been observed that the beginning of 2019 saw more searches for altcoin than in the entire previous 12 months. These search results include direct searches of the term altcoin and other searches which include the actual cryptocurrency name such as Litecoin, XRP, Binance Coin, etc.
Unfortunately, altcoin is still down 90% when compared with its all-time highs. However, it is always best to buy when the market prices are low when a spike is anticipated. Whether or not we are "alt season", no one can really say or give a definitive answer to. We will only know once altcoin spikes to an all-time high.
One thing we can be sure of is that cryptocurrency, including Bitcoin, has definitely started to rise in 2019.