• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news

Bitcoin Outperformed: Altober Continues as Altcoins Show Upsurge

Tony Spilotro by Tony Spilotro
1 year ago
in Cryptocurrency news, Bitcoin
Reading Time: 3min read
altcoins altober bitcoin
Advertisement

Bitcoin has started once again trading sideways after a breakdown from its previous trading range, and when Bitcoin trades sideways, altcoins often get their time to shine.

Thus far in October, altcoins have outperformed Bitcoin by a wide margin, and according to crypto analysts, the surge in alts could last all month long and have dubbed the month of October “Altober,” as a result.

Move Over Alt Season, Bitcoin Beware, Altober Is Here for Altcoins

The crypto community has affectionally dubbed the month of October as Altober, due to altcoins like Etheruem, XRP, Litecoin, and many more vastly outperforming Bitcoin in recent days.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Related Reading | Bitcoin Dominance Breaks Down As Altcoins Begin to Rebound 

The normal term for when altcoins outshine Bitcoin is called an alt season, but the term has been used to the point of meme status over the course of 2019, as each glimmer of hope that altcoins would rebound was stopped short by the king of crypto, Bitcoin.

But now that Bitcoin dropped from local highs, it is now trading in a sideways range – creating the perfect environment for the altcoin market to pop and regain some lost ground against Bitcoin.

Of the top ten, almost all crypto assets have outperformed Bitcoin. From October 1 through today, Bitcoin is up roughly 2% from high to high. Meanwhile, Ethereum has risen 8% and Litecoin 7% in the same timeframe.

XRP is another standout from the top ten cryptocurrencies by market cap, posting a 12% gain during the month of October thus far. Binance Coin, the crypto platform’s native token – and the best performing altcoin of the year – also rallied by as much as 17%.

Related Reading | Ethereum, XRP, Litecoin and Other Large Cap Altcoins Poised For 20% Breakout 

Below the top ten, Maker has surged, cementing a 22% gain since October 1. However, few crypto assets have performed as well as Chainlink this month, with an over 61% gain in less than ten days. With such performance, it won’t be long until Chainlink enters the top ten cryptocurrencies by market cap.

Despite the gains across the board in the altcoin market, it’s not clear whether this is the first signs of a true reversal from the bloodbath the crypto market has seen over the last two years, or if this is just another dead cat bounce to be swatted down by crypto traders bearish on altcoins.

If you look at #Bitcoin's previous Market Cycles…

Altcoins have always rallied after $BTC's first major pullback in its new Bull Market

It doesn't look like this time is different#Crypto

— Rekt Capital (@rektcapital) October 9, 2019

An alternative theory is that capital from Bitcoin profit-taking is still making its way into altcoins. The entire asset class had been bleeding out, but with Bitcoin reaping most of the benefits and helping to drive the asset further along its parabolic rally. With the rally now over for Bitcoin, altcoins will likely find some relief, and the relief rally could last the entirety of October, truly earning it the title of Altober.

Tags: altcoinsBinance CoinchainlinkethereumLitecoinmakerxrp
TweetShare21
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
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.

Related Posts

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Holds $50,000 on Global Corporate FOMO; What to Expect?

3 hours ago
Uniswap’s UNI Hung After Hitting Record High; Breakdown Risks Persist

Uniswap’s UNI Hung After Hitting Record High; Breakdown Risks Persist

5 hours ago
easyfi

Leading DeFi Protocol EasyFi Expands to Binance Smart Chain

23 hours ago
DAFI

How DAFI Protocol Rewards Long-Term Token Holders and Supports Sustainable Project Growth

1 day ago
bitcoin and Ethereum macro beating

Economist: Ethereum and Bitcoin Look “Bullish” After Withstanding “Macro Beating”

3 days ago
paradox

How Paradox Group Is Helping DeFi

3 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Router Protocol and Polygon Partners With DFyn to Launch L2 GalaxyFarm

March 8, 2021

Get the Latest Crypto News, Trends and Insights at Interactivecrypto

March 8, 2021

Connect Financial to List CNFI Tokens with BitMax

March 8, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Buy Silver

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.