In Bitcoin’s 2013 and 2017 bull runs, the price hit a new all-time high in the month of December. Bitcoin’s dominance hit a peak in December, driving altcoin prices and market share lower.
Analysts have observed that December is the best period of the year to buy altcoins. Even in 2020, when Bitcoin price also plunged and over 40 billion dollars was wiped out of the crypto market altcoins followed suit, offering investors opportunities to buy at a rare discount. Altcoins lost a significant percentage of their market share alongside the Bitcoin bloodbath. Chainlink, Cardano, and XRP posted double-digit losses within a single day, offering investors an opportunity to buy. Analysts believe it is possible that this trend repeats itself, presenting a buy opportunity for altcoins this December. Michaël van de Poppe, a crypto analyst, and YouTuber recently tweeted:
“Historically, the best period to buy #altcoins is December. Most likely, this will repeat again.”
Bitcoin dominance is currently 38.6%, a correction could have a negative impact on altcoin prices as seen in previous BTC bull runs.
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