- Many Crypto Enthusiasts Believe Bitcoin (BTC) Will Continue to Outpace Altcoins
- Altcoins Have Performed Poorly against Bitcoin (BTC) than the US Dollar
- Many still believe altcoins would rebound in the future
Bitcoin News Today – The trust and belief in Bitcoin (BTC) are growing every day. Many are now seeing a positive and bright future for the world’s largest cryptocurrency. A recent poll just revealed that the majority of people believe that Bitcoin (BTC) would outpace altcoins in the next thirty days. Besides, the number of people holding altcoins have dropped since April this year.
Many Crypto Enthusiasts Believe Bitcoin (BTC) Will Continue to Outpace Altcoins
Recently, a very popular digital currency commentator – Alex Saunders – initiated a poll on Twitter. Saunders asked people if they think altcoins will outperform Bitcoin (BTC) over the next thirty days. The result of the poll was not surprising. A total of 1,532 people responded to the poll. Fifty-three percent of the respondents believe that Bitcoin (BTC) will outperform altcoins over the next thirty days.
— Alex Saunders (@AlexSaundersAU) September 9, 2019
So far this year, the price of Bitcoin (BTC) has surged by about 175 percent. The BTC market has also been relatively stable, despite the fact that BTC price has plunged by 27% from its year-to-date high. Over the past month, the digital currency has not witnessed any violent declines. However, the situation is not the same for altcoins. The performance of the majority of altcoins in the market over the past couple of months have been bleak.
For instance, the price of the world’s largest altcoin – Ethereum (ETH) – has plunged by more than 45 percent from its year-to-date high. Binance Coin (BNB) has also plunged by that same amount. The situation is even worse when you compare the performance of altcoins against Bitcoin (BTC). Most altcoins have reached long-term lows against Bitcoin, and they are not showing any recovery signs.
Altcoins Have Performed Poorly against Bitcoin (BTC) than the US Dollar
Against Bitcoin (BTC), the price of Binance Coin (BNB) has plunged more than 55 percent from its peak this year. On the other hand, the price of Ethereum (ETH) against Bitcoin (BTC) is down by more than 50 percent since January this year. There are lots of bullish altcoin news out there. However, there has been no actual impact on their values. It seems like investors have quit putting their money in altcoins.
Earlier this year, CryptoPotato released a report that stated the difference between Bitcoin (BTC) and altcoins. According to the report, the major difference between Bitcoin (BTC) and altcoins is that Bitcoin (BTC) has proven its utility while most of the altcoins in the market have not yet done so. It appears that investors are losing confidence in altcoins. However, there are still many who believe in altcoins, as the poll’s result revealed that 31 percent of respondents believe that altcoins would outperform Bitcoin (BTC) over the next thirty days.