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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Last Year’s Top Crypto Market Performers Are Lagging Behind Altcoins in 2020

Tony "The Bull" Severino
Tony "The Bull" Severino
5 years ago
3 mins read
crypto altcoins bitcoin

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Last year’s most successful investments in the crypto market are strangely lagging behind the year’s top-performing altcoins thus far.

Is this a sign of things to come, or are oversold assets simply correcting more powerfully than assets that have had less overall drawdown?

Bitcoin and Exchange Tokens Lag Behind Altcoins in 2020

2019 was the year of the exchange token, led primarily by the native cryptocurrency token of the leading crypto exchange by trading volume, Binance.

Binance Coin has among the most utility in the crypto market, offering holders of the asset discounts on trading fees, access to voting privileges, and the ability to buy into new altcoin projects via initial exchange offerings.

Related Reading | Exchange-Related Tokens Dominate Crypto ROI Last Year 

IEO coins like Matic, BitTorrent Token, and others, went on to be some of the most hyped altcoins of 2019.

IEOs, however, have since been demonized, being called “unregulated crypto-casino fundraising mutations” by a former SEC chief, causing them to lose much of the luster they had throughout 2019.

The success of Binance Coin has prompted other crypto platforms to launch native utility tokens of their own.

The year closed out with Bitfinex’s UNUS SED LEO and Huobi’s token leading the charge as some of the top-performing altcoins of the year last year.

But this year, exchange tokens have been underperforming collectively.

Bitcoin was also a top performer during 2019, rising in dominance substantially and cannibalizing the altcoins space in its wake.

https://twitter.com/ceterispar1bus/status/1223215909067743238?s=21

Crypto Comeback: Why Alts Are Overperforming the Rest of the Market

Come 2020, though, despite Bitcoin rising as much as 30% since the start of the year, it has been underperforming other assets like Ethereum, Litecoin, EOS, and many others in the top ten cryptocurrencies by market cap.

Bitcoin and exchange tokens may have crushed altcoins in 2019, but in 2020, it appears that the altcoin market is prepared to make up for lost ground, and will leave Bitcoin and exchange tokens in their dust.

The increased performance is likely due to just how oversold and illiquid altcoin markets are currently after two full years of a bear market and drawdown.

Altcoins have fallen by as much as 99% in value, so very little buy power can send altcoin prices flying.

Still, many alts remain relatively stagnant, including XRP and Stellar. XRP has underperformed the rest of the crypto market top 10, and Stellar’s performance surely hasn’t lived up to the altcoin’s namesake.

Related Reading | Ravencoin, HoloChain, and Binance IEO Altcoins Expected To Skyrocket Next Bull Run 

The early rise in altcoins could lead to a full-blown alt season where altcoins vastly outperform Bitcoin for a period of time, resulting in massive rallies not only in USD value but BTC value as well.

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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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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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