• Sun. Oct 1st, 2023

Analyst Advices Investors To Turn To Altcoins Amid Bitcoin Struggles

Phillip Seefeldt

ByPhillip Seefeldt

Jan 23, 2021

The giant of the cryptocurrency space, Bitcoin, has always and looks like it will always be ahead of the others in the game. The most valuable cryptocurrency has had its fair share of ups and downs, but amidst it, all has stood its ground to trade at personal ATH even at the moment.

The digital asset has seen its value hit as high as $40,000 in the first 10days of 2021, despite trading a little above $30,000 as at the time of writing. The price volatility of the most valuable cryptocurrency and the other altcoins’ successes is now forcing experts and analysts to advise investors to take a sneak peek at the other digital assets.

Altcoins are outperforming Bitcoin

Bitcoin’s performance has been amazing. The cryptocurrency had earlier in 2021, trading at a price increase of more than 100% compared to what it sold in late 2020. The mainstream adoption and institutional commitment to the digital asset have favored the cryptocurrency in the last 24 months.

The Bitcoin market’s growth has been outstandingly successful as investors have particularly turned to the token to maximize profits. However, a keen look at the performance of other altcoins like Ethereum and Chainlink shows that they have outperformed Bitcoin in the last two weeks. The outperformance must not be rated at a price as none of the altcoins currently trade at 10% of Bitcoin’s value.

(Advertisement)Artificial Intelligence Crypto Trading
CypherMindHQ.com Artificial Intelligence Crypto Trading System – Get Ahead of the Curve with this sophisticated AI system! Harness the power of advanced algorithms and level up your crypto trading game with CypherMindHQ. Learn more today!

But in comparison to the position where they were before now, one would observe that they have performed better than Bitcoin. Experts and analysts on social media are now saying this might be the time for crypto investors, traders, and institutional investors to look at altcoins like Ethereum, Uniswap, and co. They are pulling up the weight to level up.

Bitcoin will be back despite struggles

In reality, it may be impossible for many altcoins ever to catch Bitcoin, even if the crypto giant remains stagnant, a situation that defeats the volatile nature of crypto assets. However, worthy to note is that the second most valuable digital assets and the king of altcoins, Ethereum, is outperforming Bitcoin.

The token, which had not been without its ups and downs, had since witnessed a price increase of at least 100% since the launch of its new network, Ethereum 2.0. The continuous institutional adoption of Bitcoin and the mass attention associated with the token compared to other altcoins only boost the prediction that the crypto giant will soon bounce back to ATHs.

The sad reality for the performing altcoins will still hover around the less attention and institutional adoption they are getting, despite outperforming Bitcoin. However, analysts believe that the best time for investors and institutional investors to look at the altcoins market is now, as it favors everyone involved. The Bitcoin market will be back, but right now, altcoins are on top.

Phillip Seefeldt

Phillip Seefeldt

Phillip Seefeldt is a skilled and perceptive news writer known for his comprehensive analysis and engaging writing style. With a commitment to accuracy and a deep understanding of current affairs, his articles provide readers with insightful perspectives and thought-provoking insights.

Leave a Reply

Your email address will not be published. Required fields are marked *

Don't Miss Out On CypherMindHQ

#1 Artificial Intelligence Crypto Trading System

Sign Up Now

Try Crypto Engine With a Trusted Broker