Altcoins

Altcoins Dump Heavily Thrashing The Altseason, Is It The Right Time To Accumulate Large Bags?

Written by: Delma Wilson

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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Dec 17, 2021

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Highlights

    As the bears prevail within the crypto space, most of the crypto assets fall into a bearish divergence

    Bitcoin and other altcoins shed gains, showcasing a good opportunity to stock more at the lowered prices

Usually, December is said to be the best period to buy altcoins almost every year as the upcoming days could be extremely bullish. The Bitcoin is moving sideways, chopping around a narrow range and hence paving way for the other altcoins to gear up. The lessened volatility on the space does signify that the bulls might be getting ready to enter the ring shortly. 

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The Bitcoin price is hovering around the range bound and hence during this time, the traders often opt to remain calm. Moreover, they look out for other options to make a quick profit that could be earned more than Bitcoin. Additionally, the Bitcoin dominance is also swinging around 40% while the dominance of altcoins surge. Therefore people intend to put money in altcoins as more FOMO is floating around as rightly said by the analyst. 

The dominance does play an important role in deciding the next phase of the crypto phase. As dropping dominance may make BTC a little aloof from trade and that could have been happening currently. As more altcoins surged with huge margin during the previous day’s trade while BTC remained comparatively low. 

Therefore, the upcoming days may witness the altcoin gearing up, manifesting the possibility of a huge alt season ahead. The main reason could be that most of the altcoins are nearly 80% and are around the higher timeframe support levels. And hence as said by a popular analyst, Micheal de van Poppe the sentiment is ultra bullish across the markets. Therefore, the best time to buy altcoins as the alt season may be on the horizon and could resume any time from now. 

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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