Altcoins

When Is the Right Time to Buy Altcoins?

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Bitcoin’s market dominance is back in the crypto space. Meanwhile, traders are eagerly waiting for the right time to grab some coins. We can expect altcoin to remain distant from the buzz until the BTC’s dominance subsides.

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Bitcoin Dominance and Its Effects on Altcoins

 The representation in the section is from The Birb Nest. Which gives a clear picture of how Altcoins react to the dominance of the star crypto. In simpler terms, when BTC dominance grows alongside BTC price, altcoin plummet. While the price of BTC falls, when the dominance of BTC grows, altcoin fall. 

In addition, when Bitcoin price consolidates, altcoin consolidates, while the dominance is still growing. The price of altcoin coins rises with the price of BTC rising, while the dominance falls. altcoin tends to rise or move sideways, while the price and dominance of BTC fall. altcoin rise, while the Bitcoin price consolidates, when the dominance falls, altcoin rises.

   Also Read : MATIC, SRM, KAVA, & XTZ Eyeing Massive Rally Ahead! Watch the Crucial Levels

Amidst growing curiosity regarding altcoin purchases. Popular analysts opine December/January to be the best time to buy some altcoin. The analyst expects USDT pairs with ALT coins to perform well. While altcoin paired with BTC might witness corrections for 6-8 weeks. 

Collectively, from historic price movements, it is evident that altcoin will be interrelated to the dominance and price of the star crypto. In addition, we can expect the dominance of Bitcoin to continue until the end of the year. Hopefully, by the first quarter traders and investors will be able to grab some coins for their portfolio.

Also Read : Cardano Price Enters Crucial Phase! Here’s When ADA Price can Blast Out of Consolidation!

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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