Several Altcoins Have Outperformed Bitcoin in the PastMay 29, 2019
Major Altcoins have been in their near-yearly highs. However, it is seen that there is more room to pump for these tokens. The recent market surge has pushed several coins to the yearly highs.
There are several coins which provide for potential profits to the investors. Those who are placing speculative bets on these coins will be paying their dividends. This will happen when the broader market continues to improve in value. However, with the Altcoin being underway, several other coins will provide the potential profit.
Despite the recent gains, there is a lot that one will be able to gain with Bitcoin. There has been a phenomenal 500% growth in the price of the Bitcoin. There was a Bitcoin Hash War, and the Bitcoin lost a lot of its value during this period. However, the benefits are shifting back in favor of Bitcoin.
There is room for return in every kind of Altcoin whether NEO, TCAT tokens, ONT, Litecoin or others. Several Altcoins have outperformed Bitcoin in the past. The list of coins is not limited to ONT, OKG, Augur, EOS, BCH, BAT, and others.
Analysts opine that the profit-making potential after the Bull Run is more for Bitcoin than with Altcoins. The buying sentiment for the Altcoins is weaker this year. Bitcoin is moving on to the April profits, and the traders are moving back into the Bitcoin market considering its rebound. The market dominance of Bitcoin is close to 54% at the current time.
With the overall cryptocurrency market going through a major recovery, it is expected for those Altcoins, which improved to be facing the consequences. The optimism of the investors has returned. All the investor eyes are on the Bitcoin. There are a price breach and a subsequent price correction. Decoupling has been predicted for a few coins which outperformed Bitcoin. Of note, the update of BCH caused a second market crash in November 2018.
Jimmy Song, recently stated that diversifying cryptocurrency assets “made little sense.” He noted that those portfolios, which already has diversified Altcoin investments, will not do well by adding Bitcoin now. This is not in any way going to improve the chances of receiving a higher return on investment on their invested capital.
Song, further added that asset diversification would make sense only in traditional investment portfolios. He proposes a safe assumption stating, “The reality of a cryptocurrency [and related investments] is in the code which, unfortunately, is very dense, hard to read and impossible to understand for a large [number] of people.”