Tesla Is to Begin Manufacturing Electric Vehicles in China

10分钟前
cryptonewmedia

Blockchain Voting: 2 Oregon counties offer voting to military overseas

16分钟前
bitcoinwarrior

Major Bitcoin Milestone: Only 3 Million BTC Left To Mine

24分钟前
newsbtc

Poloniex Spins Out From Circle to Form New Exchange Not Available in US

35分钟前
cointelegraph

Buy High and Sell Low? Circle Dumps Poloniex As Crypto Market...

43分钟前
newsbtc

Blizzard Bans Hearthstone Player, Blockchain Comes to Rescue

1小时前
cointelegraph

Buy High and Sell Low: Circle Dumps Poloniex Crypto Exchange

1小时前
newsbtc

Altcoin Miners Are Leaving Networks Due to Low Fees

1小时前
beincrypto

The Evolving Role of Exchanges

1小时前
coinspeaker

Cryptocurrencies Like Bitcoin Are Too Volatile to Store Value, G7 Says

1小时前
cryptoglobe

Cardano shares details of its partnership with New Balance to solve authenticity on the blockchain

1小时前
cryptoslate

Telegram moves TON blockchain launch date to 2020

1小时前
bitcoinwarrior

Crypto Firms Join Azure as Microsoft Fights Amazon for Market Share

2小时前
cointelegraph

Binance Raises Maximum Leverage On Bitcoin Futures To 125x

2小时前
zycrypto

Trading Jam Activists Stage Protest Outside XTB Offices

2小时前
financemagnates

Poloniex Breaks From Circle, Offers 0% Trading Fees Until 2020

2小时前
beincrypto

Huobi Lira Onramp to Enable Crypto Trading for Turkish Users

2小时前
cointelegraph

Circle to Spin Out Poloniex Less Than 2 Years After $400 Million Takeover

2小时前
coindesk

European Regulators won’t Oppose Stablecoins but Double-Down on Libra Warning

2小时前
cryptonewmedia

“Full Rollout”: Fidelity Opens Up Bitcoin Business to...

2小时前
newsbtc

Bermuda introduces cryptocurrency tax payment in USDC

2小时前
bitcoinwarrior

U.S. Senator Backs Libra Association Member Despite Departures From Project

2小时前
cryptoglobe

Litecoin Fluctuates as Bulls or Bears Fail to Control the Market

3小时前
coinidol

Daily Trending News and Market Sentiment: Death Crosses, Bermuda Crypto Love

3小时前
bitcoinnews

Bitcoin Whale Seemingly Unloading Large Stacks on OKEx

3小时前
beincrypto


Bitcoin Outperformed: Altober Continues as Altcoins Show Upsurge

newsbtc

9天前前

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.

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.

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.

若涉及版权问题,请联系:content@hashbee.com,我们将立刻撤下新闻内容

0个评论