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Home Cryptocurrency news

Altcoins Could Get Crushed By BTC Halving Volatility, Here’s Why

Tony Spilotro by Tony Spilotro
10 months ago
in Cryptocurrency news, Bitcoin
Reading Time: 2min read
altcoins btc halving crushed
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Bitcoin‘s halving is in less than three weeks away, and the biggest event in crypto has everyone talking and speculating once again. But while things are potentially looking bullish for Bitcoin, altcoins could get crushed during the explosive volatility expected when the BTC block reward halves in just a couple short weeks from now.

Here’s why altcoins may suffer amidst the upcoming BTC block reward halving.

BTC Halving: Upcoming Bitcoin Volatility Could Crush Altcoins

Bitcoin‘s halving is at this point just days away – an incredibly important event for the cryptocurrency and a true make it or break it a moment.

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For the last few years, crypto investors have been holding out hope that history repeats, and just like the last two times it occurred, the Bitcoin halving caused a dramatic bull run causing BTC to reach sky-high prices.

The last time around, Bitcoin rose to over $20,000 and made the asset a household name, and put it on the same pedestal next to stocks, commodities, forex, and more as a viable financial asset that investors and traders both can look to for profits.

Altcoins, however, didn’t make the cut. This smaller subset of the cryptocurrency asset class lacks the same acceptance and adoption as Bitcoin and is far more speculative in nature.

Altcoins are also highly susceptible to BTC price movements.

Related Reading | Altcoins Break Out Against Bitcoin After Six Months Of Sideways 

Take the 2019 Bitcoin bull run for example. At the start of the year, it was altcoins like Litecoin that kicked off the rally in crypto markets, but later these assets were annihilated as Bitcoin price exploded from $3,200 to as high as $14,000.

Altcoin investors capitulated en masse, as looming concerns over a changing regulatory landscape began to unfold. Bitcoin’s acceptance by regulators made it the one crypto asset that investors could trust, and the capital leaving altcoins into Bitcoin further caused the number one cryptocurrency price to balloon.

The same could happen once again if Bitcoin price takes off with the halving ahead, and rockets to new highs. Altcoins, that have continued to lag behind the first-ever cryptocurrency, could further be left in Bitcoin’s dust.

Related Reading | This Class of Once Hyped Altcoins Is Headed To Zero

Alternatively, Bitcoin could suffer an enormous crash if miners suddenly panic sell and dump their BTC rewards, closing up shop due to the suddenly doubled cost of production. Crashing Bitcoin prices also doesn’t bode well for altcoins, either, and could cause them to bleed out.

So you think #BTC will pump hard into the halving but you also think altszn is on the horizon?

I hate to break it to ya, but it's one or the other…

BTC volatility = Alts getting crushed

— Posty (@PostyXBT) April 27, 2020

The main time that altcoins shine is when Bitcoin is trending sideways and lacks volatility. Since altcoins get crushed whether BTC moves up or down, any volatility ahead won’t be good for the alternative crypto assets.

Featured image from Pixabay

 

Tags: altcoinsbitcoinbtccryptohalving
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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