Grab a cup of coffee and start your day by getting a quick update on the crypto market.
We are starting January 2021 and like each month I analyse what happened to Bitcoin and the altcoin market. This time I decided to share the results with you here on Tradingview as well. In October Bitcoin gained 32%, in November Bitcoin gained 39%, and in December Bitcoin gained 54%! What an amazing way to end 2020!
In November altcoins could keep up with Bitcoin very well, but Bitcoin really pulled away from altcoins in December. While Bitcoin gained 49.2% in December, altcoins (on average) did not increase in dollar value (-0.55%). This means altcoin lost quite a lot in Satoshi value and Bitcoin dominance increased from 63% to 71%. This could have fantastic implications for the altcoin market.
The sad truth is that a lot of people are being congratulated on the price of bitcoin, but nobody actually holds a significant portion of BTC. We are all altcoin traders, and you're probably wondering whether you've been doing something terribly wrong not having seen the amazing bitcoin gains reflected on your own portfolio. Don't worry, everyone is in this situation right now. Altcoins are extremely low, and there are fantastic buy opportunities everywhere. You need to be patient, and make sure you don't take irrational decisions right now.
What is also important: Total crypto marketcap reached an ATH as well: 777.514B! The total crypto marketcap is now higher than it was in January 2018. This might come as a surprise to many of you, wouldn't you have expected that the total market cap was way higher given that BTC is trading 50% above the previous all time high? Again, this is a sign of btc dominance and a signal to show how low altcoins are as a whole right now.
Often when the price of bitcoin goes up, people take their money out of alts and put it in BTC instead. When BTC consolidates, that is when the altcoins rise. Again, I cannot stress this enough. Be patient and wait for those altcoin opportunities. The relative gain potential is much much higher on those than on the price of bitcoin. It'd be very surprising to see BTC double in value soon, as it required an entire doubling of the marketcap. To get double the price on altcoins is very easy however. For example, you could take a look at my XRP, ETH or LTC idea. But those would still be for higher marketcap coins. The true gains I expect come from the lower marketcap coins. Follow my channel to see more opportunities for those coming up in the coming weeks as well.
The top 5 performers in December were $TFUEL (+233.60%), $THETA (+197.38%), $ZIL (+176.74%), $MITH (+138.78%), and $CHZ (+70.90%). Biggest losers were $SYS (-37.79%), $HC (-39.17%), $SNGLS (-39.37%), $AE (-40.30%), and $XRP (-66.02%).
Follow me for consistent high quality updates, with clear explanations and charts.
Please like this post to support me.
- Trading Guru
--------------------------------------------------------------
Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
We are starting January 2021 and like each month I analyse what happened to Bitcoin and the altcoin market. This time I decided to share the results with you here on Tradingview as well. In October Bitcoin gained 32%, in November Bitcoin gained 39%, and in December Bitcoin gained 54%! What an amazing way to end 2020!
In November altcoins could keep up with Bitcoin very well, but Bitcoin really pulled away from altcoins in December. While Bitcoin gained 49.2% in December, altcoins (on average) did not increase in dollar value (-0.55%). This means altcoin lost quite a lot in Satoshi value and Bitcoin dominance increased from 63% to 71%. This could have fantastic implications for the altcoin market.
The sad truth is that a lot of people are being congratulated on the price of bitcoin, but nobody actually holds a significant portion of BTC. We are all altcoin traders, and you're probably wondering whether you've been doing something terribly wrong not having seen the amazing bitcoin gains reflected on your own portfolio. Don't worry, everyone is in this situation right now. Altcoins are extremely low, and there are fantastic buy opportunities everywhere. You need to be patient, and make sure you don't take irrational decisions right now.
What is also important: Total crypto marketcap reached an ATH as well: 777.514B! The total crypto marketcap is now higher than it was in January 2018. This might come as a surprise to many of you, wouldn't you have expected that the total market cap was way higher given that BTC is trading 50% above the previous all time high? Again, this is a sign of btc dominance and a signal to show how low altcoins are as a whole right now.
Often when the price of bitcoin goes up, people take their money out of alts and put it in BTC instead. When BTC consolidates, that is when the altcoins rise. Again, I cannot stress this enough. Be patient and wait for those altcoin opportunities. The relative gain potential is much much higher on those than on the price of bitcoin. It'd be very surprising to see BTC double in value soon, as it required an entire doubling of the marketcap. To get double the price on altcoins is very easy however. For example, you could take a look at my XRP, ETH or LTC idea. But those would still be for higher marketcap coins. The true gains I expect come from the lower marketcap coins. Follow my channel to see more opportunities for those coming up in the coming weeks as well.
The top 5 performers in December were $TFUEL (+233.60%), $THETA (+197.38%), $ZIL (+176.74%), $MITH (+138.78%), and $CHZ (+70.90%). Biggest losers were $SYS (-37.79%), $HC (-39.17%), $SNGLS (-39.37%), $AE (-40.30%), and $XRP (-66.02%).
Follow me for consistent high quality updates, with clear explanations and charts.
Please like this post to support me.
- Trading Guru
--------------------------------------------------------------
Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
Thảo luận về những biến động và nói cùng nhau về thị trường giao dịch ở cộng đồng Telegram này nhé!
t.me/Vietnam100eyes
(bắt đầu từ tháng 2 - 2023)
t.me/Vietnam100eyes
(bắt đầu từ tháng 2 - 2023)
