TOP ALTCOINS FOR DECEMBER 2021🚀
So if you want to see my analysis and my view on bitcoin check, my live stream from yesterday were going to dive into the topic of which altcoins to buy in december or for december and were going to make it a little bit different than what im. Usually doing as were going to describe what im expecting from altcoins at this point, so instead of naming a few altcoins, were giving a broad view of the markets overall, but before we can continue, do not forget to subscribe to this youtube channel its completely free. We are accelerating with this youtube channel, so thank you for that, but making yourself a subscriber is already helping me to grow. The channel also do not forget to like this update and check out my twitter and instagram, where you can find daily content on the markets. Im posting on instagram, more often as well, and as you know, twitter is my main channel. So when were looking at the price action of the altcoins at this point, we can actually see that history is repeating itself. The only outlier in that perspective is ethereum. Ethereum is showing way more strength than bitcoin and is actually carrying the entire market. So, despite the fact that ethereum is also correcting with bitcoin, we can see that ethereum is accelerating even more through which the bitcoin dominance is currently dropping. This might be confusing for you because of the fact that ethereum is the main variable for the bitcoin dominance.
So you remind yourself of the fact that, when the bitcoin dominance is high, you want to buy all coins and when the bitcoin dominance is low, you dont want to buy altcoins. But what you do not understand is that approximately 60 to 70 percent of the bitcoin dominance is actually ethereum. So the moment that ether is going to run up, the dominance will drop down, while the other altcoins are showing weakness, thats. What were going to discuss, but also were going to dive into the fact that why is by? Why should you buy outdoors or while buying outcomes right now is actually historically one of the best periods to do so so lets dive into the charts Music. So when youre, looking at, which altcoins to buy the general feel, should be that youre looking at how altcoins are doing at this point and why they are interesting to buy um at a certain moment in time. So, while were looking at that, you want to know about cycles which we can derive from historical price action and when were looking at the cycles of ethereum were going to do that with multiple altcoins. We can see that the last quarter of the year is usually just a very bad period to have altcoins, as those are usually dropping down quite heavily in this chart. You can see the exact same. So what we see here is the fact that oh its the fact that the last quarter of the year has been consolidation and a breakout has been happening from january and december of every year in the past six years.
So every time weve had a drowndown in november and december when it comes to ethereum and weve, had a big breakout resulting in massive gains afterwards, the only outlier right now, as i just said, is ethereum at this point, as we can see that, instead of correcting, We are actually showing strength with ethereum against bitcoin at this point, so ethereum is carrying the markets and is showing more strength than bitcoin is doing at this point. So in that case, ether is showing more strength. We might be seeing the flipping this cycle too and were continuing that upwards run. Why could that be? Well? It could be due to the fact that ethereum has uh adjusted its economics towards a deflationary concept um, as that might be a difference or the way that its being that there is more adoption through ethereum at this point, and it is actually either cycle. We dont know um, we can only guess but thats the only outlier, resulting in the fact that the bitcoin dominance is dropping down, so were trending south. If you would look at it in a technical way, we are still making lower highs and we are eager to break south of this construction, but because of ethereum against bitcoin showing strength. You can actually conclude that the bitcoin dominance is not on a high, which previously has been a signal to buy into altcoins, because in those cases, ethereum against bitcoin has been correcting heavily too after which weve had a drop down taking place through which altcoins have been Doing well, in this case, weve also got a peak high in october, but the actual drawdown is happening on the dominance chart because of the fact that most of the actual impact is being made by ethereum against bitcoin and as ethereum against bitcoin is being the outlier Right now, through which this showing strength, this one is still dropping, although if this one drops beneath were going to make new loads – and i think the actual dominance of bitcoin will decrease over time as the entire market will expand itself into an ecosystem which can be Used um for every crypto platform to be built on, so this dominance will only be dropping even more, but if youre looking at other altcoins, we can actually copy paste.
What ethereum has been doing so cardano has been around for multiple years too, and when we conclude that ethereum against bitcoin has been showing weakness during the last quarter of the year, cardano has been doing the exact same especially last year, since the peak high in july. Weve had a corrective period after which we started to run in the last year. In 2018, 2019 sorry 2019 weve had a corrective move after april 2, in which we started to break out in january february and had a peak high in july 2017, breakout in november. In december peak high in january, after which we started to correct and then another breakout in december, resulting into this peak high in march 2019. right now, weve also had a breakout in january, resulting in a high in september and since then, again, q4 has been correcting. Quite heavily so anticipation of this is that we most likely are going to find ourselves a bottom with kadano, relatively soon too, in which we are most likely going to have a new run, taking place in q1. So when were looking at the overall market, we can just do the exact same everywhere. 2020 ave has been breaking out already from august, but the heavy breakout has been taking place from december onwards. We can see that we have been correcting since august 2020, resulting in a big breakout in january as well price. Action of ave for now, for instance, is copy pasting.
The corrective move that weve witnessed previously in 2020, in which q4 has been correcting heavily too so, were getting into a structure or were getting into a phase and im going to show link as well were getting into a phase where we potentially are getting a bottom Structure on the altcoins overall, so going back to whats a cardano on the right chart, which i cannot click here, its its likely that we like what we want to see is that bitcoin is going to bottom out, which most likely is the case right now. The more its going to consolidate and the more people will be confirmed that were getting close to a bottom bottoming structure, the more likely it is that were going to break out and oh those breakouts, especially when bitcoin breaks above the all time, high or breaks above 53 or 60 k that is going to be a trigger where altcoins are going to wake up heavily and start to trend with bitcoin. That has been the cycle of 2020 and i think that is also going to be the cycle of 2021 and 2022 in which uh we are going to break out together with bitcoin until bitcoin starts to accelerate. So at this point i think the conclusion can be made quite easily for this video um, in which we can say that you can look at altcoins to buy in december, or you can look at specific niche like metaphors to look at for potential buy opportunities.
But instead you are probably looking at an overall picture and conclude that altcoins have been moving well in q1, have been a great opportunity in december, despite the fact that its a very bearish markets, in which we just had a very harsh corrective move, i think its. The time that you want to dive into altcoins and the best way to do that just take the higher caps, the large caps, which have relatively low risk and can actually generate you. A massive amount of profits, like cardano, has been going 10x in the bitcoin pair um, in the usd pay even more as bitcoin was also running like 5x in between so thats. What you want to look at and thats also the conclusion of this update. I hope you have enjoyed it. Dont forget to subscribe. Dont forget to follow me on twitter and instagram today.