Bitcoin dominance: when to expect altcoin season ?
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Here’s what we’ve got for you today:
CELSIUS ATTORNEYS HAVE EARNED $140M
Bitcoin is up big, is altseason coming soon?
Meme of the day
CELSIUS ATTORNEYS HAVE EARNED $140M
Bankrupt Celsius owes its customers billions of dollars.
But what about the attorneys handling the company's bankruptcy case? They are currently due a whopping $140 million in fees
All the reported and anticipated fees that the lender will be required to pay were totaled by a software developer:
So what? All of the lawyer’s fees will be taken from the funds owed to the victims of Celsius’ fraud. Celsius is estimated to owe its customers ~$4.7B.
Unfortunately, that’s how it works across the gaggle of crypto companies that have gone belly up.
As of early February, FTX lawyers and advisors had billed $35M+… for just 51 days of working out the company’s bankruptcy mess.
BHB (billable hours, baby) is crypto lawyers’ newest fav token.
IS ALTSEASON ON THE WAY? Cryptocurrency prices are in the green.
Ladies and gentlemen, The cryptocurrency market is flourishing. Prices are rising, there is a strong sense of greed, and bags are being pumped.
A 16-month high was reached by the Fear & Greed Index (68). Since Thanksgiving of 21 when everyone was eating turkey with a helping of BTC, investors haven't felt this greedy.
For the first time in nine months, Bitcoin completed the week at $28,000 or more.
Since April 2019, Bitcoin has experienced its largest weekly increase (+26.11%). Four years have passed. (Titanic theme song)
If crypto was the Empire State Building, it’d be covered in green baby! Thanks to the US for coloring it green for the sake of Patrick’s day even,
So what? Well first of all, if you’re a Bitcoin investor - congrats, you’re up big.
If you aren’t, don’t worry because Bitcoin pumps like this are sometimes followed up by….
Altseason. This is a function of the market due to new participants flooding into crypto around the same time, and can be triggered by stuff like BTC halving events or a sudden loss of faith in centralized financial systems. (*cough*.... the U.S. Federal Reserve… *cough*)
And crypto investors love altseason more than Owen Wilson & Vince Vaughn love wedding season.
Right now, we’re probably in the overlap part between phase 1 and phase 2. ETH is also up big (~20% over the last 7d), but it hasn’t outperformed Bitcoin yet. But we could see a bigger flow into ETH as the Shanghai upgrade gets closer & closer…
Who knows if this is exactly how it’ll play out but, buckle up crypto investors - Altseason could be coming soon.