The latest altcoin news show a pile of losses for the most popular cryptocurrencies in the market cap. It seems like the altcoin apocalypse is strong at this point – showing that the further Bitcoin has climbed, the worse the altcoin market has suffered.
It all went to the point where many are calling for an altcoin apocalypse that takes the price of most cryptocurrency assets to zero, except for Bitcoin and a select few coins that still provide value and utility.
A new report shows that of the top ten crypto assets, only two altcoins have statistically outperformed Bitcoin this year (2019). The coming altcoin news also feature these coins as the ones with the best chances of recovering and reaching new all time highs.
In times when a lot of crypto analysts are calling for another 50% drop in the altcoin markets which may form a double-bottom, others believe that an all-out “alt season” is ahead. What we can see right now, however, is nothing short of an altcoin apocalypse and something in between. Many altcoins from the last hype bubble doomed forever – and other clear winners with real utility emerged from the ashes of the “altpocalypse.”
According to data from the San Diego-based Blockforce Capital Chief Investment Officer David Martin, the altcoin apocalypse shows that only two of the ten cryptocurrency assets have outpaced Bitcoin in 2019. These include the names of Litecoin (LTC) as well as Binance’s native token, Binance Coin (BNB).
10/ #Altcoins Altcoins continue to underperform #bitcoin, as #BNB and #LTC are the only two in the top ten that are outpacing bitcoin year-to-date. #ETH #XRP #BCH #EOS #XLM #TRX #ADA #BTC pic.twitter.com/DUzRMe2JZF
— David Martin (@mrtn_dvd) August 12, 2019
While Bitcoin (BTC) managed to grow by 168% in 2019, the latest cryptocurrency news show that Litecoin (LTC) brought in 2014% in gains while Binance’s native crypto token BNB has been nothing short of amazing – posting 364% gains in 2019 which makes it the top performing cryptocurrency of the year.
Bitcoin Cash (BCH) is right behind Bitcoin in the fourth place, while EOS is edging out Ethereum in a neck-and-neck race for the fifth and sixth position. Cardano (ADA) is at the seventh spot, followed by Tron (TRX) in the eight place. Ninth place is reserved for Ripple (XRP) which is held down by the company behind the protocol that sold of an abundance of tokens throughout the year.
Most of the alts won’t reach all time high if the altcoin-to-Bitcoin ratio remains the same, according to analysts. The altcoin apocalypse shows just how poorly these assets have performed this year in correlation to BTC.
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