In our previous blog, we have stated the following regarding the altcoin season:
“Although it will happen eventually, nobody knows if it will start in one week, one month, or maybe even one year.”
Well, here it is. Altcoins are up over 62% this month, while BTC is up “only” 28%. As shown in the chart below, altcoins really started taking the lead after the mid-month market correction.
Bitcoin vs. the rest of the crypto market performance (1 Jan 2021 – 19 Jan 2021)
Retail investors are coming back to the market in droves, as can be seen by various metrics prepared by The Block (click for a larger image):
ETH is on fire today and on its way to a new all-time high. We expect this altcoin season to last for a while as the momentum is getting stronger.
Market overview
December marked the third consecutive month of positive returns for the crypto market. The month started with a minor correction and lost 11.7% in the first 11 days. A nice uptrend followed, and the month ended with a positive performance of 9.9%.
In total, 16 of the top 25 crypto assets by market capitalization posted gains in December, with the top three performers being THETA (+190%), Polkadot (+73%), and Bitcoin (+48%). Bitcoin reclaimed the spotlight in December and outperformed the majority of altcoins. Consequently, its dominance also increased to 71%.
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DISCLAIMER: This article is for informational and discussion purposes only and does not constitute a marketing message, an investment survey, an investment recommendation, or investment advice. The article was prepared exclusively for a better understanding of market dynamics.
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