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Nexo Logo

Small Cap Altcoins Have Outperformed Bitcoin By 5x in 2020

Tony Spilotro by Tony Spilotro
2 years ago
in Bitcoin, Cryptocurrency news, Ripple
Reading Time: 3 mins read
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Over the last several years of crypto bear market, Bitcoin has vastly outperformed altcoins of all types. However, now that the first half of the year is in the books, data shows that alts have shined compared to Bitcoin in 2020.

In fact, small-cap altcoins alone have grown by five times as much as BTCUSD over the last six months of 2020.

First Half of 2020 Closes With Strong Crypto Performance, Despite Pandemic

2020 has been an unusual year, both for the world and for the crypto market. People everywhere are dealing with an outbreak that is spiraling out of control. Life has been changed for the long term.

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The initial onset of fear and uncertainty the pandemic brought about, caused a major collapse in all markets, including crypto. All signs had been pointing to a new long-term uptrend forming in the asset class.

But Black Thursday set valuations backs months. A strong recovery has brought Bitcoin back to former resistance, but it has been thus far been unable to break $10,000.

Related Reading | Ongoing Crypto “Alt Season” Might Spark a Much Bigger Rally in 2021: Analyst

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Meanwhile, altcoins across the market are surging, setting new all-time high price records and rallying while Bitcoin stagnates.

The first-ever cryptocurrency has been trading sideways for months, which is ideal conditions for alts to thrive. Boredom during consolidation and constant shakeouts sends trader to the sidelines or towards greener pastures.

Many BTC holders sitting in profit may be taking capital and putting it into altcoins, causing them to surge.

Even the market’s worst performers, such as XRP, are starting to show signs of life once again.

And although even large-cap crypto assets like XRP, and mid-cap alts like Chainlink are exploding in value, it’s small-cap altcoins that are really shining.

 

bitcoin small cap altcoins

Small-Cap Altcoins Outshine Bitcoin By Five Times in H1 2020

Data from the first half of the year of cryptocurrency market price action shows how Bitcoin stacks up against small, mid, and large-cap altcoins.

According to intel from Arcane Research, Bitcoin grew by 27% in H1 2020. Meanwhile, large-cap alts like Ethereum, XRP, and Litecoin grew by 29%.

In the same timeframe, mid-cap alts such as VeChain or Dogecoin have nearly doubled Bitcoin’s growth at 54%. However, it’s small-cap altcoins that significantly outperformed Bitcoin.

The small-cap index grew by a staggering 141%, or over five times more growth than Bitcoin’s meager 27%.

Related Reading | Alt Season: Search Volume Surges On Google Trends

The growth is fueled both by a fall in BTC dominance, and several small-cap altcoins setting new all-time highs recently.

These low liquidity crypto assets take far less capital to move the needle, causing them to break out from downtrend resistance ahead of other crypto assets.

This type of price action is all said to be part of a greater crypto market cycle. Profit-taking in BTC rallies moves into small-cap altcoins. Once gains have been realized, profits flow into mid-caps, then large-cap altcoins as we are now seeing with XRP.

Once large-cap altcoins pump, it’ll be Bitcoin’s time to shine once again. For now, or at least during the first half of the year, the best investments were small-cap alts.

Tags: bitcoinbitcoin dominancebtc dominancebtc.dbtcusdBTCUSDTcryptoxbtxbtusdxrp
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. 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 at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

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