- The crypto market is close to the beginning of an altcoin season.
- Ethereum returned profits in seven of the past eight Februaries.
- Ethereum’s profit potential will affect the altcoins in its ecosystem.
An analyst who focuses on cryptocurrency trading solutions thinks the crypto market is close to the beginning of an altcoin season. In a post on X, the analyst used Ethereum’s monthly return data from the past eight years to forecast the future of the altcoins market.
Using data from a dedicated data feed from the Crypto Rover platform, the analyst revealed that Ethereum, the largest altcoin by market capitalization, made positive returns every February in seven out of the last eight years. The altcoin had a bearish February only in 2018, towards the end of the 2017 bull run.
Specifically, the analyst’s post highlighted Ethereum’s consistency in delivering positive returns in the second month of the year. Even in 2019, 2022, and 2024, when the leading altcoin ended the first month of the year down, it bounced back to deliver gains in the second month, showing its consistency during those periods. Therefore, on average, Ethereum has delivered a 17.13% gain in February since its creation, with a median profit margin of 14.89%.
Related: Altcoin Season Heats Up: XRP, HBAR, XLM, and ADA on the Rise
Ethereum’s Historical Performance Sparks Optimism
Referencing the cryptocurrency’s historical behavior bolsters investors’ confidence in Ethereum’s potential to recover from the current bearish trend. The top altcoin is currently on a 7.74% monthly loss in January 2025 after having a bearish December 2024. All in all, Ethereum has lost nearly 30% of its value since hitting a $4,109 high in December last year.
Meanwhile, it is worth noting that the flagship altcoin has maintained a bullish outlook since the middle of 2022 after recovering from a previous bear market. Crypto analysts expect Ethereum to herald a return of a full-blown altcoin season, considering its leadership status and the number of altcoins running in its ecosystem. The altcoin needs to embark on an immediate turnaround to achieve this, and analysts expect that to begin in the next few days.
Related: Golden Cross Signal and Trump’s Crypto Moves Spark Altcoin Season Hopes
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
