Why is December the greatest month to buy altcoins?
Historically, altcoin prices have dropped in December, wiping away millions of dollars in market value.
Analysts anticipate that the trend will continue, resulting in a dip in altcoin values over the following two weeks.
A reversal in Bitcoin’s dominance might have a detrimental influence on the price of altcoins.
Since 2017, the Bitcoin bull run has been accompanied by a carnage in altcoins as capital has returned to the primary cryptocurrency. As altcoin values plunged, millions of dollars in market capitalization were wiped out of the crypto market. Analysts feel that the ideal time to acquire cryptocurrencies is in December.
In December, altcoins outperform Bitcoin.
During Bitcoin’s 2013 and 2017 bull runs, the price reached a new all-time high in December. Bitcoin’s dominance peaked in December, bringing down altcoin prices and market share.
Analysts believe that December is the greatest time of year to buy cryptocurrencies. Even in 2020, when the price of Bitcoin fell and over $40 billion was wiped out of the crypto market, altcoins followed suit, providing investors with rare opportunities to buy at a discount.
