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Hellooooo out there in the world of Crypto!
My name is Trevor and today I bring you the updated Historical Monthly Data Chart for Ethereum to wrap up the year!
That's right, we made it through 2021 and it is officially 2022 now.
Now we may feast our eyes upon the finished chart ??
Now if you are looking at this chart for the first time and a little bit confused, do not worry.
For a better understanding of what we are looking at here with Ethereum's price.
Make sure you check out the video or the article below for a more detailed explanation of how to read.
https://www.publish0x.com/trevor-balthrop/bitcoins-historical-monthly-chart-explained-xpplynr
https://youtu.be/8OrOJsz4etg
Now let's get into what we see on our handy data chart!
The year is over, the month has ended and Ethereum has opened 2022 at a price of $3,680.31 USD.
We have ended this month in the Red as massive amounts of fear and disappointment officially set in for the entire market.
Now as you may already know, the rest of the Crypto Market including Ethereum, follows Bitcoin when it decides to jet in one direction or the other.
So if you're wondering what's going on there be sure to check out the other article about Bitcoin's Historical Monthly Data Chart
https://www.publish0x.com/trevor-balthrop/bitcoin-historical-monthly-chart-december-1st-2021-xknvlez
So with the market following Bitcoin's Bearish momentum, are Alt Coins and Ethereum dead yet?
Absolutely not if Bitcoin's Dominance has anything to do with it!
Now if you're not familiar with Bitcoin Dominance, I will explain quickly what we are looking at here and why I am mentioning it in a topic about Ethereum.
For ages now, on-chain data and experts have be showing Ethereum is gaining on Bitcoin's price.
When Ethereum goes up in price more than Bitcoin goes up in price, the overall dominance of Bitcoin lowers.
So when Bitcoin Dominance goes down, it's because the rest of the Crypto Market is going up.
You can easily see Bitcoin's Dominance continues to lower as it respects the overall downtrend.
When Bitcoin's Dominance breaks below 40%...
It will be because things like Ethereum are starting to massive amounts of money thrown into them instead of Bitcoin.
We are approaching that squeeze closer and closer every day meaning Ethereum is about to go wild this year.
So while we may have started the month out on the edge of a cliff?
I personally think we are at the perfect prices for Whales to want to pump more money into the Crypto Markets.
Be super careful out there of course and please don't spend more than you are able to risk losing!
Thanks so much again for stopping by and I hope everyone has a BEAUTIFUL day in Crypto!
This is Trevor's signature
and article!
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Check out my website
www.TrevorBalthrop.com
