Since BitcoinMarket.com went live in March 2010, cryptocurrency trading began, with Bitcoin being obviously the first digital asset to be bartering on the internet.
Over the past 10 years, we saw many altcoins, or simply cryptocurrencies other than Bitcoin, pop-up, grow, and fall, if not completely evacuated due to the degree of unregulated markets operating until 2016 when the first regulations started to show up and influence this totally new industry.
Today, even though there is a tiny probability to cross a scam ICO or an exit scam performed by a major exchange, Bitcoin is the #1 cryptocurrency since forever and while it keeps growing, altcoins seem to be having a “bad season”.
We’re going to analyze and go through the possible reasons that hold alternative digital currencies to Bitcoin back, and see if there’s is a point in the future where they’ll gain the chance to shine again, as they did in the big pump of 2017-18, even for a brief period of trades.
Altcoins in zoom
Just in July 2019, most altcoins had a decline of up to 40%, compared to Bitcoin which managed to sustain its position with only a 2% loss the exact same period.
The table below shows us the three-month change for Bitcoin and some major altcoins, and as you can see, besides Binance’s native currency Binance Coin, which underwent a token burn that significantly affected its price per unit, most altcoins are plumping into a -20% to -45% abyss.
According to recent researches conducted by various crypto-watchdogs, we see that all of them conclude to the fact Bitcoin’s dominance in the digital asset market is attributed to its longevity and institutional trust.
In addition, most experts agreed that altcoins might be in a “bad season” at the moment, but there is definitely a chance to recover in the near future, making them an attractive investing field.
For example, take a look at IOTA, which is trading at around $0,23 at the moment. An Internet-Of-Things (IoT) token,…