More

    Alt Season Coming: Which Altcoins Will “Outperform Bitcoin” in 2020?

    With BTC dropping below $9,000 again and Bitcoin dominance hovering around 66%, will altcoins finally break out as crypto traders have been predicting?

    In the past five days, Bitcoin has declined 5.7%, as it went from about $9,520 on Nov. 4 to going under $9k again at $8,980.

    As BTC trades in red by 1.59% at $9,114, as per Coincodex, altcoins have fallen even deeper.

    XRP is leading the top cryptocurrency losses with -6.21% followed by Bitcoin SV with 5.82 losses and then Monero (3.44%) and Litecoin (3.13%).

    Having said that, several altcoins farther down the list are meanwhile registering gains. Tezos is still feeling the after-effects of Coinbase announcing the staking program. After surging 117% on Coinbase, XTZ is still up 6.41%.

    However, it’s Maker that is leading the market with 14.64% gains today. Other coins enjoying the greens are VET (6.10%) and Pundi X (8.52%).

    Source: Coin360

    Majority of Altcoins are Degens

    In 2019, the Bitcoin price has surged 140% while altcoins have been struggling. As such the BTC dominance has been on a continuous uptrend from April till Sept. when it reached 88%. Last month, BTC dominance went below 70% and have been struggling around this level ever since.

    So, this decline in the dominance of the world’s leading cryptocurrency and its market cap could mean good days ahead for altcoins.

    But unlike last time, it doesn’t seem likely that all the cryptocurrencies will make a jump.

    As prominent analyst Willy Woo said,

    “The vast majority of altcoins are Degens. Their price chart has a measurable half-life, like radioactive decay. Plotted on a log chart, it's a straight line down.”

    Which Altcoins will Make it?

    So, which altcoins have the chances to make it this time?

    According to trader DonAlt, Doge is at cycle lows in November while Nano, he said is “Looking good for the first time in 250+ days.”

    Trader Nik Patel on his “An Altcoin Trader’s Handbook” blog shared the top five cryptocurrencies that he expects to outperform Bitcoin in 2020.

    His first pick is Komodo that is a “plethora of solutions to a number of problems,” and is the host of its own ecosystem of tokens. His prediction for Komodo, currently sitting at 7,320 satoshis, is 30,000 satoshis in 2020.

    New Kind of Network (NKN) is another one that he projects can leap 305 satoshis to 1,500 satoshis next year. V-ID is projected to surge over 567% to 6,000 satoshis and a 230% increase in Constellation cryptocurrency.

    Fantom, a Directed Acyclic Graph token is also on this list that is trading at $0.014 (148 satoshis) and Patel is predicting it to hit 600 satoshis in 2020.

    Bitcoin (BTC) Live Price

    1 BTC/USD =$8,633.2034 change ~ -3.10%

    Coin Market Cap

    $156.86 Billion

    24 Hour Volume

    $8.2 Billion

    24 Hour VWAP

    $8.93 K

    24 Hour Change

    $-267.8996

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    AnTy
    AnTy
    AnTy has been involved in the crypto space full-time for over a year now. Before his blockchain beginnings, he worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,260FansLike
    2,714FollowersFollow
    4,081FollowersFollow

    Live Bitcoin Price & Latest BTC Chart News

    Today's Latest Crypto News

    Open Interest on CME Bitcoin Futures Outgrowing BTC Price

    If BTC closes above the 200-day moving average, just above $9,000, we could see $10k Institutional investors leading the way for a new...

    Here’s How DeFi’s Smashing Growth Puts a Trillion-Dollar Case for Ethereum

    Total USD value locked in DeFi surpasses $800 million creates “a new paradigm for global finance” with one common theme Ether The trillion-dollar...

    This Uncannily Accurate Bitcoin Chart from Dec. 2018 Predicts a New ATH in 2020/21

    Analyst ‘s post from Dec. 2, 2018, correctly predicts Bitcoin’s bottom and momentum in 2019 Bitcoin price is currently hovering around $9,000 after surging...

    Lawmaker Proposes Bill For State-Chartered Institution For Blockchain & Crypto Innovations

    An Oklahoma lawmaker has come forward with the proposition of creating a financial institution chartered by the state and that functions as a central...

    Block.One's ‘Voice' Social Network Has An Open Door Policy To Other Blockchains, Not Just EOS

    During its June ICO, Block.one had indicated that its Facebook rivaling social network dubbed Voice, would be launched on the EOS network. However, plans...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.