Price analysis 12/9: BTC, ETH, XRP, LTC, BCH, LINK, DOT, ADA, BNB, XLM

in a recent Reddit “Ask Me Anything” session, billionaire Ray Dalio warned investors that the current astronomical pace of money printing is unlikely to stop in the near future and holding wealth in cash could lead to losses. Dalio said that Bitcoin (BTC) “could serve as a diversifier to gold and other such storehold of wealth assets.”

A new report from CoinShares shows that the transition from gold to crypto products may have already started. The report highlights outflows of $9.2 billion from gold investment products and inflows of $1.4 billion into crypto products during the same period. Interestingly, along with Bitcoin, Ethereum funds are also attracting investments.

Daily cryptocurrency market performance. Source: Coin360

While institutions are increasing their investments into the crypto space, Galaxy Digital founder and CEO Mike Novogratz recently told CNN that people should invest about 5% of their net worth in Bitcoin and some in Ether (ETH). Novogratz did not rule out a 30-40% correction but asserted that Bitcoin will not go to zero.

On similar lines, the Winklevoss twins advised participants at the Singapore Fintech Festival to educate themselves about Bitcoin because they believe Bitcoin’s price will reach $500,000 in the future.

While the long-term picture looks bullish, smaller-sized traders may find it difficult to HODL in the event of a sharp fall like the one seen in the last 24-hours.

Let’s analyze the charts of the top-10 cryptocurrencies in order to spot the critical levels to keep an eye on.