As we mentioned in our previous analysis of the Altcoin Season indicator, November would be decisive and could be concluding in favor of altcoins; Despite the fact that during the last days of October it seemed that Bitcoin was going to dominate the score, at the beginning of November there was a change from 53 to 59 points.
On the other hand, considering that altcoins continue to gain dominance in the market, and that every day more investors support emerging projects, cryptomemes and the like, it is not surprising that the Altcoin Season Index ends the year in favor of the altcoins.
Altcoin Season Index November. Source: Blockchain Center.
It is almost certain that the year will once again have an Altcoin Season, so perhaps this is the best time to start investing; as, according to the charts, the other non-Bitcoin cryptocurrencies are dominating the market once again.
The Altcoin Season Index Heading North
During the year 2021, the Altcoin Season Index has been in favor of alternative cryptocurrencies in the annual preview. Even when the year started there was a strong rebound from 29 points in favor of Bitcoin, to 88 points in May; suggesting that despite strong rises in BTC, altcoins are showing high volatility in the market.
Therefore, it can be summarized in that it has ended up being more profitable to invest in some altcoin on the market. Now, among some of the winners of the year for growth we have:
FTM accumulating 19,673.1%. LUNA with 17,359% .SOL with a gain of 16,778.8% .MATIC recording gains of 14,210.5% .DOGE accumulating 10,019.6% of gains. Among others.
One of the most important aspects to highlight from the data provided by the Altcoin Year indicator, is that it is located in the 80 points to the north due to the fact that 75% of the cryptos in the market have been registering gains higher than BTC. For this reason, the charts lean in favor of the other digital currencies.
Altcoin Year Index November. Source: Blockchain…
