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Mid-Month December Report: Traders are Skeptical, Will You Be a Buying Receptacle?

@brianq
1 min read
20.12.2022
XCN
CHZ
ETH


Goofy forced rhyme title aside, times are tough for traders right now! 2022 is at risk of being historically bad for cryptocurrency investors. Bitcoin is -68% and Ethereum at -71% since the start of year. For the vast majority of tradeable altcoins, price returns look a lot worse than these two.


But on the 30-day time scale, things have begun to look eerily similar to months throughout 2018 and 2019, when BTC and ETH essentially were flat and altcoins bled dry:


With the top two respective assets down just -1% and -3% since mid-November, respectively, one may think that altcoins may be split between thriving and diving, as we often see in flat markets. Instead, outside of a few anomalies, alts are undeniably taking a beating. Some assets, like CHZ and XCN, have lost over half of their market caps

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