Trader Altcoin Sherpa claims that the last few months of the year are often good periods to make gains in the cryptocurrency markets. As we enter Q4 2023, the following summarises the major developments for Bitcoin, Ethereum, and other cryptocurrencies to keep an eye on:
1. The Notable December/January Rallies of Bitcoin
Historical Trend: Even in negative markets, Bitcoin has shown a trend of notable rises in December and January.
Crypto Triumphs in Bear Markets: BTC & ETH Shine,Crypto Triumphs in Bear Markets: BTC & ETH Shine
Strategic insight: Throughout these months, investors should keep an eye out for any increases in the price of bitcoin and think about setting themselves up to profit from such movements.
2. The performance of Ethereum between January and Q4
Historical Trend: Historically, Q4 and especially January have seen significant price fluctuations for Ethereum.
Strategic Insight: Traders can gain insight into possible entry and exit positions by attentively observing the market activity of ETH during certain times.
3. The Importance of the Ratio of ETH to BTC
Market Indicator: The strength of the altcoin market is gauged by the ETH/BTC ratio.
Analyzing Binance’s 34% Spot Market Share Decline
Strategic insight: Watching drops in this ratio, particularly in the 0.05–0.06 region, might indicate good times to purchase altcoins.
4. Declining Bitcoin Dominance as an Altseason PrecursorMarket Structure: A decrease in the dominance of Bitcoin (BTC.D) usually signifies a change in focus towards other currencies, frequently indicating the start of an altseason.
Strategic insight: When BTC.D exhibits a negative trend, traders may want to diversify into altcoins and take advantage of altcoin rallies.
5. The November Altcoin Surge Historical Trend: Historically, altcoins have started to rise in November and have continued to do so into December and January.
Strategic insight: Increasing one’s cryptocurrency holdings starting in November might put traders in a position to profit from future rises in altcoins.
Tesla CEO Musk Pushes for US SEC and DOJ Overhaul
Grabbing the Chance
Given that ETH and BTC are showing signs of strength and that BTC supremacy is declining, it seems that the market is preparing for an altcoin rally that may last until early 2023.
Traders and investors should constantly be aware of the inherent dangers associated with cryptocurrency trading and consider placing themselves strategically to possibly ride the oncoming wave.
Crypto Triumphs in Bear Markets: BTC & ETH Shine,Crypto Triumphs in Bear Markets: BTC & ETH Shine,Crypto Triumphs in Bear Markets: BTC & ETH Shine