This may sound like a broken record but it’s been a strong year thus far for altcoins compared to Bitcoin. Just look at the chart below, which shows that since the start of the year, BTC has underperformed many altcoins.
BTC vs. altcoins Tron, Ethereum, Cardano, and Crypto.com since the start of 2020. Chart from TradingView.com
Yet an analyst is expecting a strong correction in the altcoin market over the coming months, echoing the sentiment of many commentators.
Altcoins May Plunge Against Bitcoin, Analyst Warns
According to the trader that accurately predicted that Bitcoin would bottom 2019’s bear trend at $6,400, altcoins could see a “large correction.”
He shared the chart below on July 4th, showing that Bitcoin dominance — the percentage of the crypto market made up of BTC — could hit 76% in 2020. That would result in a massive correction in the altcoin industry, with most likely falling by ~30% or more.
Bitcoin dominance chart and analysis shared by trader “Dave the Wave” (@davthewave on Twitter). Chart from TradingView.com
The analyst who shared the chart above isn’t the only current bear on altcoins. Jason Calacanis, a prominent angel investor well known for investing in Uber, Robinhood, and Trello. He said late last month:
“Historically, 99% of crypto projects are garbage run by unqualified idiots, delusional but below average founders or grifters… the 1% that are not, could change the world. I’m waiting for that 1% to deliver their product so I can talk to their customers. you got customers?”
Prominent Crypto Fund Begs to Differ
Despite the sentiment against altcoins as investments, a prominent industry fund is still optimistic about digital assets aside from Bitcoin.
Pantera Capital, one of the earliest blockchain-centric funds and the earliest in the U.S., released its June report two weeks ago.
In it, company CIOs Dan Morehead and Joey Krug said that while they see upside in Bitcoin, they expect lots of value to accrue in altcoins.
“With proper selection, one can outperform bitcoin with a diversified portfolio including both large caps like bitcoin and ethereum and small to mid-cap alts even in the early innings of a bull market.”
The duo said that fundamentally speaking, the crypto ecosystem has “matured over the past three years,” separating the “wheat from the chaff.”
What they see as “wheat” is “non-debaseable store-of-value and decentralized finance.” Morehead and Krug explained further:
“We’re also focused on protocols that are enabling real world financial use cases and believe that most value will accrue to these assets on a long-term basis compared to utility/payment tokens.”
As an aside, the company’s outlook on Bitcoin is rather bullish.
They wrote in a separate letter earlier this year that BTC is likely to hit a new all-time high in 2020 or by early-2021.
The predicate of this optimism, according to them, is the fact that central banks are now printing more money than ever before. With BTC touting a fixed supply cap of 21 million coins, it stands to greatly benefit from an injection of literally trillions of dollars into the world economy.
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Price tags:
Charts from TradingView.com
An Accurate Bitcoin Analyst Expects a "Large" Correction in Altcoins origin »
This year promises to be a good one for altcoins and the crypto market in general. The performance from these altcoins from the start of the year to this time further strengthens the notion of them taking this year by storm.
There have been very few beneficiaries from crypto market movements this year. Bitcoin has clearly won the race and while a few of the altcoins have dragged themselves out of the mud at the bottom of the digital pond, many are still massively down from their all-time highs.
Latest Cardano News Last year, ADA prices did sink, printing new lows but then the team behind Cardano were unfazed and on a development overdrive, crashing milestones. No doubt, The Cardano Foundation, Emurgo and IOHK are working overtime and not just rehashing stuff.
The big bear year of 2018 has battered all digital currencies leaving no survivors. The majority of them have lost over 80% since their peaks this time last year. Some have lost even more and developers have closed up shop leaving the altcoins to die a slow death.
Bitcoin is the world’s first decentralized cryptocurrency which initially reared its shiny head into digital markets now way back in 2009. While regular currencies have a centralized authority which controls and prints them, Bitcoin was imagined as a community controlled currency that won’t have a single entity looming over it.
Latest Ripple News 2018 was a testing year for coin holders. The bear market wrecked the space and with the anchor coin, Bitcoin, dropping 75 percent, altcoins followed suit. The damage was severe in Ethereum (ETH), and their losses saw XRP replace it as the second most valuable coin.
The cryptocurrency market has had a rough year, no doubt. Bitcoin and all the other altcoins in the market have been in the red too long. With the new year commencing, there is a mixed feeling of hope, disappointment and uncertainty.
Bitcoin (BTC), Cryptocurrency–While no one will argue the fact that 2018 has been a horrible year for cryptocurrency valuation, with the majority of altcoins down 90 percent or more since the start of the year, Bitcoin-supported payment portal Square has been named a top finance company of 2018.
The year 2018 has arguably been one the most volatile for the crypto community. While bitcoin and altcoins enjoyed a total market cap of more than $800 billion in January 2018, the figure hovers around $130 billion at year’s end.
The year 2018 hasn’t been short of important events and milestones, good, bad and ugly. For one, the year began with Bitcoin trading at $15,000. It has since then shed 75 percent of its value and trades below $4,000 at press time.
Bitcoin is not dead, management consultancy AT Kearney has concluded in its 2019 predictions – the latest source to defy claims it is trending to zero. Cryptocurrencies Are ‘Post-Crash’ As part of its annual series of ten forecasts for the coming year, somewhat less ‘outrageous’ than a similar tradition at Saxo Bank, the company declared Bitcoin and altcoins to be “post-crash.
One of the oldest questions in cryptocurrency is whether Bitcoin is tethered to the performance of the overall stock market. The current crypto market rally could indicate that Bitcoin and other altcoins are independent from dips in U.
With the dust all but settled on 2018, it’s time to reflect on the year’s best and worst performing cryptocurrencies. In the Best category, there are few standout candidates, with all major altcoins deeply mired in the red.
December in 2018 has been the polar opposite of December 2017 in the cryptoverse. While bitcoin and the altcoins were establishing new all-time high values during the last year’s monumental bull run, the bears seem to have completely pulled down the industry in 2018.
In the last 24 hours, Bitcoin Cash was able to make up gains of 25 percent. The situation is similar throughout the crypto market. The Ripple price (XRP), Ethereum, IOTA and almost all Altcoins can also profit from the upswing.
The cryptocurrency tide is turning. On Monday, one year since Bitcoin (BTC) breached $20,000 in a jaw-dropping turn of events, the crypto market at large had its first double-digit rally in weeks.
Bitcoin (BTC), Cryptocurrency–With the crypto markets continuing to slip into December, with Bitcoin and altcoins hitting their new relative low for the year, the tone surrounding the industry of cryptocurrency has made a decided shift towards the negative.
There have been no winners in crypto land this year, everything has been battered. Some have fared better that others, however, and Bitcoin remains on top of the pile despite having lost half its value over the past month or so.
The holiday season is here. And even if crypto prices are on the coal heap, you can still have fun spreading some holiday bitcoin cheer. For the bitcoiners in your life, this could mean a crypto-related gift as a token of solidarity.
2018 has been a very hard year for Bitcoin (BTC) and virtual currencies. Bitcoin lost around 80% of its value since its all-time high and other altcoins dropped even more than 90%. However, there is a venture capitalist that shows that Bitcoin and Ethereum are currently oversold from a fundamental standpoint. Bitcoin and Ethereum (ETH) […]
It’s no secret that 2018 has been a rough year for cryptocurrencies, with Bitcoin falling over 80% from its 2017 highs, and most major altcoins dropping 90% or more. Despite the market’s poor performance, one venture capitalist laid out his case for why Bitcoin and Ethereum are currently oversold from a fundamental standpoint.
In a year in which every asset is a loser, who are the winners? No, we’re not talking about investors who sold Bitcoin in December 2017, but the assets themselves. Almost all of the cryptos lost at least 80% of their value this year during the bear market, so who won? The main losers are […]
FOMO Moments Cryptocurrency markets are still on the floor; tiny gains for most altcoins, BTC dominance climbs. There has been a little recovery since Saturday’s all time low for the year but nothing significant.
Despite the recent bear markets, panelists at a personal finance comparison site, Finder.com are predicting a strong rebound before the end of the year for Bitcoin and some of the top altcoins. In a recent forecast made by ten global crypto experts, it was predicted that Bitcoin would, by January 1, 2019, record an 81% […]
The post Finder Experts Predict Bitcoin at $6700 by January 1 and 100% Growth For XLM appeared first on ZyCrypto.
2019 is almost here if you have plans of venturing in the cryptocurrency business, this is the best time to do your calculations. Although 2018 has been such a tough year in altcoins preparing for the New Year with higher expectations is essential.
When it comes to cryptocurrency prices, it is a bit unclear what the future will hold for most of the altcoins. EOS is in a bit of an awkward position, even though the altcoin was met with a ton of hype earlier this year.
Considering how the year 2018 has been very brutal for Bitcoin and altcoins alike, a lot of people show signs of desperation. Even though there is a genuine chance all markets will come out stronger, there will undoubtedly be some casualties as well.
Currently there are more than 2000 cryptocurrencies in the market. One of them is Bitcoin (BTC), others are altcoins (alternative coins). So, what are the differences between BTC and altcoins? Bitcoin Bitcoin was invented by Satoshi Nakamoto in the year 2008.
Bitcoin (BTC), Cryptocurrency, TRON (TRX)–After two weeks of the worst price fall experienced in cryptocurrency since the start of the year, as prices for Bitcoin and altcoins hit their lowest point of 2018, the entire market is back in the green.
The crypto markets are going through turbulence – prices are falling, traders are panicking and companies are losing money. Bitcoin plummets below $4,000 for the first time since last year, putting an end to the months of “stability”.
It has become apparent the year 2018 may not necessarily end on a high for most cryptocurrencies. As Bitcoin and top altcoins continue to trend lower virtually every other day, the rest of this year will not be overly pleasant to watch either.
A lot of traders and speculators are keeping a close eye on short-term profits first and foremost. That is only to be expected after an incredibly bearish year for Bitcoin and altcoins. Stellar Lumens, or XLM, is one of the currencies people have high expectations of.
FOMO Moments Markets a licking wounds from yearly lows; altcoins clawing back a little. Cryptocurrency markets are flattening out and are not bouncing back. There has been a small recovery since the lowest level of the year a couple of days ago, but nothing significant enough to indicate that the weather is about to clear.
Kenetic, which is a blockchain investment firm that is based in Hong Kong, has just gone ahead to announce that their proprietary investment portfolio has 77% returns this year. At the same time, some of the altcoins in the market have been experiencing considerable losses, as they have bled between the 80 to 95%. It […]
The end of the year hasn’t been good for cryptocurrency prices so far. The crypto markets faced another bloodbath on Monday as Bitcoin reached 2018 lows, and is currently trading at $4,591. Ethereum and other altcoins are following suit, while Bitcoin’s market capitalization fell below $100 billion.
2018 was a crazy year for cryptocurrencies with many ups and downs. We saw the number of cryptocurrencies skyrocket, with there now being over 2000 cryptocurrencies available. But as you’d expect from a lot of these new coins, there isn’t much in terms of innovation and creativity.
Just a few days ago, the market experienced a sudden flash crash, with many cryptos being relegated to their lowest prices for the year. Despite having shown resilience during earlier volatile times for altcoins, Bitcoin couldn’t withstand the crash and traded at its lowest level in the past 13 months at $5,300.
The bearish market may not be in total control of most cryptocurrencies as was the case a few days back when the bears hit Bitcoin down to the $5k region for the second time this year. Altcoins were not exempted from the scary event that has now led the Ethereum and XRP to trade places.
According To Coinshares Executive, Bitcoin In Financial And Altcoins In Liquidity Crisis Notorious for their price fluctuations, cryptocurrencies had mostly seen a relatively stagnant trading scene in the past few months.
Following yesterday’s widespread and significant drop across the entire cryptocurrency markets, Bitcoin has settled below $5,600, the lowest price it has seen this year, and many altcoins have continued dropping.
With nearly a year of this brutal bear market under our belts, it’s safe to say that there are…
The post 5 Altcoins Under $20 Million Market Cap That You Should Know About (Opinion) appeared first on Invest In Blockchain.
While trading well-known and established cryptocurrencies among the top 10 by market cap is definitely a safer option, those looking to make a profit often attempt to bet on the underdog. In the crypto world, underdogs are many, and any one of over 2,000 altcoins may be the next big thing. This is what makes […]
Dash had its first significant spike since mid-October. The spike occurred in line with bullish movements across the rest of the market where altcoins outperformed the market leader Bitcoin. However, the analysis of Dash presents one of the more bearish pictures.
Data analytics platform Santiment has concluded that Ethereum based altcoins might be at the forefront of the next bull market. The End of the Bear Market Draws Near The last two quarters of 2018 have been dominated by talk of a Bitcoin-ETF approval by the U.
Data analytics platform Santiment has concluded that Ethereum based altcoins might be at the forefront of the next bull market. The End of the Bear Market Draws Near The last two quarters of 2018 have been dominated by talk of a Bitcoin-ETF approval by the U.
The scores of cryptocurrency hedge funds setting up shop in late-2017, during the infamous bull run, are facing an existential crisis after plunging prices, low investor interest, and poor fundamental growth in the broader cryptocurrency industry.
When it comes to trading altcoins in 2018, there hasn’t been much to be genuinely excited about. In the case of NEO, things are not looking half-bad right now, albeit there is still a major deficit compared to the $150 price recorded earlier this year.
Ripple’s digital currency XRP has underperformed Bitcoin for the majority of this year. Yesterday, in line with most altcoins, XRP managed to outperform. XRP still trades in a range despite this rise and may have much more downside risk than upside potential.
Bitcoin price is consolidating above the $95,000 support zone. BTC must settle above the $100,000 level to start a fresh increase in the near term. Bitcoin started a fresh increase from the $94,200 zone.
Bitcoin price started a fresh upward move above $100,000. BTC is facing resistance at $103,000 and might aim for an upside break. Bitcoin started a decent upward move above the $100,000 zone. The price is trading below $103,200 and the 100 hourly Simple moving average.
Bitcoin price settled above the $100,500 resistance zone. BTC is consolidating gains and might aim for a fresh increase above the $105,000 zone. Bitcoin started a downside correction from the $106,800 zone.
