2021 in review pt 2 of 5: A yearlong altseason

2021 has been a flying year for most altcoins. While bitcoin showed strength in 2021, we’ve seen a constant stream of capital trickling down into altcoins.
Source: Tradingview

Throughout the first five months of the year, bitcoin saw a continuous loss of dominance, as traders rotated into altcoins while bitcoin pushed above former highs. These months saw a mixture of “stupid” pumps in memecoins and Ethereum DeFi strength. Bitcoin’s dominance has since May 19th stabilized in the 40-50% range, with traders constantly rotating between narratives. Currently, we see the strongest narrative and momentum among the “ETH-killers”, and GameFi/Metaverse related tokens.

2022 prediction: Traders will continue rotating between narratives unless the bear forces her claws on the market.

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