{"id":436055,"date":"2020-08-24T20:00:18","date_gmt":"2020-08-24T20:00:18","guid":{"rendered":"https:\/\/ktsl888.com\/?p=436055"},"modified":"2020-08-24T15:01:48","modified_gmt":"2020-08-24T15:01:48","slug":"analyst-the-real-altcoin-party-begins-in-early-2021","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/analyst-the-real-altcoin-party-begins-in-early-2021\/","title":{"rendered":"Analyst: The “Real” Altcoin Party Begins In Early 2021"},"content":{"rendered":"
Thus far, 2020 has been the year of the altcoin<\/a>, not Bitcoin. Which altcoin is the year’s biggest star may be arguable, but its quite clear that the alternative digital currencies have beat out the first-ever cryptocurrency by a wide margin.<\/p>\n And although altcoins have vastly outperformed Bitcoin so far this year, one pseudonymous crypto analyst claims that the real altcoin party doesn’t start until early next year. Will 2021 be the real year for altcoins to shine?<\/p>\n All throughout the world of finance, Bitcoin is being looked at as the best performing asset of the year<\/a> thus far. And in mainstream finance, this is true. Bitcoin has outperformed the stock market, gold, oil, and nearly every other asset on the face of the planet.<\/p>\n However, crypto market insiders know that Bitcoin’s 60% ROI for the year is nothing compared to several other altcoins. For example, Chainlink is up 750%<\/a> in 2020 in comparison.<\/p>\n Related Reading | Easy Money? Coinbase Crypto Coins Grow Over 50% On Average In August<\/a><\/strong><\/em><\/p>\n The top altcoin, Ethereum, is up 200% year to date, more than tripling Bitcoin’s returns. In fact, Ethereum beats out just about any other investment<\/a> made with a $1,200 stimulus check, if held through now.<\/p>\n <\/p>\n Even the total altcoin market cap as a whole is up well over 125% for the year, led by the seemingly unstoppable DeFi trend<\/a>. Buying nearly any altcoin on Coinbase in this month would have resulted in a 50% or more return on average<\/a>.<\/p>\n But even with so much wealth being generated, could the real altcoin party still be a far way off?<\/p>\n According to one pseudonymous trader<\/a> analyzing the charts of top altcoins Ethereum and XRP, the altcoin party won’t be starting until “the beginning on next year.”<\/p>\n Related Reading | Will An Ascending Trendline Bring a Return of Altcoin Apocalypse?<\/a><\/strong><\/em><\/p>\n Three and a half years later, the analyst says, both the number two and three ranked cryptocurrencies are exhibiting a similar flip of resistance into support. This high timeframe resistance should be tested as support in the next few months, according to the analyst’s charts.<\/p>\n <\/p>\nAltcoins Shine in 2020, Outperform Bitcoin, But Party May Not Begin Until Next Year<\/h2>\n
Bitcoin and Altcoin Market Cap Chart Comparison | Source: TradingView<\/a><\/pre>\n
Alt Season Outperformance Expected in 2021, Even As BTC Surges To $300,000+<\/h2>\n
Ethereum and XRP Chart Comparison | Source: TradingView<\/a><\/pre>\n