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Bitcoin’s meteoric rise not only made the crypto asset a household name and caused extreme FOMO at the tail end of 2017, it also caused a surge in interest in altcoins from those seeking to find the next Bitcoin.
While a “next Bitcoin” may not exist, many altcoins very well could outshine the first-ever cryptocurrency, and an expert altcoin trader and published author on the subject has shared his list of the top 5 cryptocurrencies that have a strong chance of outperforming Bitcoin in 2020.
Who is Altcoin Trader Nik Patel?
Nik Patel is the author of a top-selling cryptocurrency book titled An Altcoin Trader’s Handbook, and runs an ongoing blog of the same name that provides regular cryptocurrency market updates, with the majority of them focused on more obscure altcoins the analyst expects to grow in value and dominance.
Related Reading | Experienced Altcoin Trader Outlines Expectations For Bitcoin and Alt Bull Cycles
Patel is an expert in the space, having first got into cryptocurrencies in 2013 after stumbling upon the meme-filled Dogecoin subreddit. After he became enamored with the digital asset class, Patel tried his hand at trading altcoins and found much success, earning him a reputation as an authority in the space.
Even today, Patel shares regular updates on altcoins he sees with potential and shares it with the greater crypto community. In his latest report “Coin Trader Nik” highlights the top 5 cryptocurrencies he expects to outperform Bitcoin in the next year.
Morning ☕️
My ‘Top 5 Alts For 2020’ post will be published shortly.
— Nik (@cointradernik) November 6, 2019
…And the Top 5 Crypto Set to Outshine Bitcoin Are?
Cryptocurrencies are a speculative market driven by hype. Outside of the top ten cryptocurrencies, which offer true value or utility, most of the top-performing altcoins on the market offer very little value or utility, and instead are driven almost entirely by hype and promise.
That promise of potentially outperforming Bitcoin, is often too enticing an opportunity for crypto investors to pass up, and they load up bags of obscure altcoins hoping for a moonshot.
Nik Patel hopes to take some of the guesswork out of this for crypto investors and has released his list of the top 5 crypto assets he expects to outperform Bitcoin in 2020. The published author uses a combination of fundamental analysis coupled with technical analysis to provide a detailed overview of each asset.
On the list is Komodo (KMD), a scalable, business-friendly blockchain solution; New Kind of Network (NKN), offering decentralized networking; V-ID (VIDT), a blockchain-based solution for file protection and validation; Fantom (FTM), a smart contract focused network that aims to solve scalability issues found in Ethereum and others; and finally, Constellation (DAG), designed to improve data transfer efficiency and monetization.
Related Reading | Altcoin Trader: Alt Market Cap Shows Longest Accumulation Phase Yet
Whether these assets actually go on to outperform Bitcoin is a coin toss, however, given Patel’s experience with analysis of this type and success in the cryptocurrency market, investors may want to dig in further before placing a buy order. Additional information on each altcoin can be found on Patel’s blog, An Altcoin Trader’s Blog.
