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Breaking News: Bitcoin Reaches Forecasted All-Time High: Prophecy Predicts Bear Market Low In 364 Days
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Breaking News: Bitcoin Reaches Forecasted All-Time High: Prophecy Predicts Bear Market Low In 364 Days

Altcoin Apocalypse: Only Two of Top Ten Crypto Cap Have Outperformed Bitcoin

Tony "The Bull" Severino
Tony "The Bull" Severino
6 years ago
3 mins read

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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.

Related Reading | Continued Bitcoin Correction Could Cause Lead to Altcoin Market Double Bottom 

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 (@cryptoquantopia) 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 asset perform 364% in 2019 so far, making it the top-performing crypto of the year.

Bitcoin Cash is right behind Bitcoin in fourth place, and EOS edges out Etheruem in a neck-and-neck race for fifth and sixth. Cardano is in seventh, followed by Tron in eighth place.

In ninth place is Ripple, held down by the company behind the protocol selling off an abundance of tokens throughout the year – something that they say will be reduced in the future. In dead last in the top ten, is Stellar, which has barely shown any performance in 2019 and has only declined further year-to-date, making it the clear loser of the bunch.

Most Alts Won’t Reach All-Time High If Altcoin-to-BTC Ratio Remains

Many of these altcoins would have suffered further if not for Bitcoin driving up their USD values due to their close relation to Bitcoin via their ratio and trading pairs. Altcoin ratios and value relative to their BTC trading pairs have only further dropped, showing just how poorly these assets have performed in correlation to Bitcoin.

Related Reading | Crypto Capitulation: An Altcoin Obituary, Or the Biggest Buy Signal Ever? 

If current ratios are maintained, most altcoins would never again revisit their all-time highs or set new ones, even if Bitcoin were to reach $100,000 per BTC. The realization that crypto investor’s already heavy bags may only get heavier, while Bitcoin continues on toward its next bull run, the leading crypto asset has only further absorbed the capital from altcoins. While most believe that an alt season could occur once Bitcoin continues to correct, others believe that the negative sentiment and sell pressure surrounding altcoins could drag Bitcoin down and cause the crypto market to collapse completely.

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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

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Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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