Bitcoin Still Outperformed 85% Of The Top Altcoins In 2019

Even with the recent crash and the cryptocurrency news showing that the market is bleeding, Bitcoin still outperformed 85% of the top altcoins this year. Based on the market capitulation, Bitcoin (BTC) is a clear winner and altcoins also split ways with a handful of the top assets surviving and the smaller coins and tokens almost disappearing nowadays.

The fact that Bitcoin still outperformed 85% of the market and grew by more than 400% at one point (between the market bottom and June-July top) shows that the cryptocurrency is the most mature on the market. Even at $7,200 which is its current price now, the coin brought significant gains to recent buyers.

https://twitter.com/ceterispar1bus/status/1198348431716052992

The start of this year was basically a low basis for both Bitcoin and altcoins. Ever since then, the performances have varied and the altcoin news showed some coins rallying against the market – and others which have also been much less volatile this year.

All in all, the altcoin market finds 10-fold gains a true rarity nowadays – even for the stronger coins out there. As Bitcoin still outperformed 85% of the market, altcoins are less volatile but with more lost interest compared to the dominant coin.

Still, it is important to note that altcoin trading has been on the rise and continued this year with a much more conservative outlook. On top of this, the selection of coins shrank and the speculations centered around a handful of assets. Traders, however, still look to compensate for some of the BTC loss through taking altcoin positions.

Current thoughts on BTC:
1. My 8k spots will be used for margin/altcoin trades, since I have no interest in selling at a loss for EUR, was sloppy and will stay underwater a while
2. No low tf now, only daily, IF we close below 7270, that is the lowest daily close since June pic.twitter.com/ilNtg6t4ld

— Levi Alterman (@levi_alterman) November 22, 2019

What’s also true is the fact that BTC failed to fulfill the predictions for dominance as high as 90% towards the end of the year. After it peaked at about 70% dominance, the dominance is now down to 66%. We can also see that smaller altcoins take up about 10% of the entire market cap.

The delisting of smaller assets is why Bitcoin outperformed 85% of all altcoins, too. However, there are rivals from the smaller coins as well – Tezos (XTZ) gained as much as 300% during its rallies while Cosmos (ATOM) and Chainlink (LINK) also outperformed the market – but with higher volatility.

On the negative side, 2019 was a year when two coins lost their appeal – Ripple’s XRP token and Stellar (XL) which both fell by double digit percentages.