The further Bitcoin has climbed, the worse the altcoin market has suffered, to the point many are calling for an altcoin apocalypse that takes the price of most crypto assets to zero, except for Bitcoin and a select few that still provide value and utility.
Of the top ten crypto assets, only two altcoins have statistically outperformed Bitcoin year-to-date and could provide insight into which altcoins have the best chance of recovering and reaching a new all-time high.
Only Two Out of Ten Crypto Coins Have Outpaced Bitcoin
While many crypto analysts are calling for another 50% drop in the altcoin market that’ll form a double-bottom, others believe an all-out “alt season” is just ahead. The answer, however, is likely somewhere in between, with many altcoins from the last hype bubble doomed forever, and other clear winners with real utility emerging from the ashes of the altpocalypse.
A quick look at the crypto market top ten by market cap and how they’ve performed in correlation with Bitcoin could help shed some light in which of the bunch will return to their former glory and even go on to set new highs.
According to data shared by San Diego-based Blockforce Capital Chief Investment Officer David Martin, only two of the top ten crypto assets have outpaced Bitcoin in 2019 thus far: Litecoin and Binance’s native token, Binance Coin or BNB.
10/ #Altcoins Altcoins continue to underperform #bitcoin, as #BNB and #LTC are the only two in the top ten that are outpacing bitcoin year-to-date. #ETH #XRP #BCH #EOS #XLM #TRX #ADA #BTC pic.twitter.com/DUzRMe2JZF
— David Martin (@mrtn_dvd) August 12, 2019
Bitcoin has grown 168% in 2019, while Litecoin has brought investors as much as 214% year-to-date. Binance’s native crypto token’s year has been nothing short of amazing, setting new records and gathering more and more use cases each new day. It’s helped the altcoin…