According to new research by investment firm Pantera Capital, investing in altcoins can bring more profit than investing in bitcoin. Experts have analyzed what is happening in the industry and said that the cryptocurrency market is in the midst of a bullish cycle. However, the repetition of the growth rate of the price of the coins for example 2017 never expected. Accordingly, it will be much slower.
Today, the cryptocurrency market is mostly in a stable condition. Basically the industry is dominated by the fall, but it rates low. In particular, Bitcoin is teetering just above the line of 9 thousand dollars, and the Ethereum sank approximately for the same one percent. In the evening, the capitalization of the niche coins is $ 260 billion. At first cryptocurrency accounts for 64.8 per cent of this amount.
What cryptocurrency should I buy?
As a confirmation of their statements, the representatives of Pantera Capital has published a table with the profitability of some altcoins since early this year. Note that their sample only investing in Ripple brought losses to investors during this time period.
Altcoins from the selection of researchers and their profitability since the beginning of this year
As you can see, altcoins has already surpassed Bitcoin in profitability is 0x, Augur and Ethereum. For comparison, from the beginning of 2020, the price of BTC rose only 34 percent. From the sample of researchers is most advantageous was Aldon 0x ZRX.
Here’s a chart rate of the coins from the first of January. The first day of this year, the cryptocurrency began at 18 cents, and today it is estimated at 33 cents. Note that the local peak in the 46 cents recorded may 9 — and it is growth by 2.5 times.
Rate 0x zrx in 2020
Here is a quote of the representatives of the team of analysts.
During the bull cycle, we expect higher profitability from altcoins rather than Bitcoin.
That is, experts believe that in the next race of the coin market leaders will be altcoins, not Bitcoin.
The upward trend in violas will continue in the future, say analysts. At the moment the share of the Bitcoin market capitalization is about 65 percent, but in the coming months this figure will begin to decline. That is, we will see increasing capitalization of all other coins regarding Bitcoin — at least sure employees Pantera Capital.
Here’s another quote of the representatives of the team of analysts. In it they recalled the original reason for the creation of the BTC.
Bitcoin was created as a reaction to the big issue of money. The price of BTC has grown exponentially in the decade since the previous economic crisis. Now the world is experiencing much more devastating for the global economy events.
Thus, experts are hinting at the prospects of at least not less than intensive growth. However, they do not talk about it.
The increase of the greenback in circulation (marked in blue) on the background of the growth of Bitcoin prices
Here also refers to the large economic losses caused global quarantine measures due to the spread of the coronavirus. That is sort of a new bullish cycle, which next year should be even more noticeable will be the reason for the rapid growth of altcoins. Earlier in response to the crisis grew only price of BTC, now will increase the cost and other coins — this is the conclusion of analysts.
The conclusions of the experts is obvious: they believe in great potential altcoins in the near future, because given the current profitability of the coins investors will bet on them. Hence, the projected decline in the share of the dominance of BTC and other related things.
Note that altcoins really brought huge profits to its owners in late 2017 and early 2018. Many of them not only grew in price of Bitcoin more actively, but also makes it faster the first cryptocurrency.
We checked the charts: for example, the data at the rate of Ethereum. The first of November 2017, the cryptocurrency was estimated at 297 dollars, and already on January, 13 coin set a record above $ 1,400. And this is growth of more than 4.5 times.
Schedule of Ethereum in 2017-2018
So the rate of representatives Pantera Capital altcoins are quite clear. The only question is, whether justified best first glance prediction. As we know, in the niche of the coin, everything happens Vice versa.