The altcoin season is here — Monthly crypto digest (January 2021)
Retail investors are coming back to the market in droves and altcoins are up over 62% this month.
In our previous newsletter, 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.
