- XRP (XRP) and Litecoin (LTC) Show the Maximum Potential to Rise
- Moving Away From Bitcoin (BTC) Could Be Unproductive – Willy Woo
Cryptocurrency News Today – The year 2017 was a great year for digital asset investors and traders. It was a year when every crypto holder was a winner. Since then, more than 2000 altcoins have faded into oblivion. Nevertheless, a recent analysis from Bitcoin Economics suggests that if altcoins could ever emerge again from obscurity, this is the best time.
Bitcoin (BTC) Price Today – BTC / USD
XRP (XRP) and Litecoin (LTC) Show the Maximum Potential to Rise
The analysis from Bitcoin Economics was published on Twitter and it basically focusses on analyzing the price movements and market trends in the digital currency market. In a recent tweet, Bitcoin Economics gave its opinion why some alternative coins are showing the maximum potential to rise and others are showing a parallel trend to Bitcoin’s. While digital currencies such as Dash, Ethereum, and Monero followed the path of Bitcoin (BTC) and experienced the same correction, three altcoins followed another pattern to fend for themselves. Bitcoin Economics said:
“For people who missed the train and still want to enter in the final weeks of a bull market, Litecoin, XRP, and Stellar Lumens are the best choice to make the most gains. But at the start of a bull market, like now, they are a horrible choice. They wear you down with their inactivity.”
The analysis pointed out that XRP, Stellar Lumens (XLM), and Litecoin (LTC) could be the reason why altcoins should never be forgotten, as they could be highly profitable. This implies that Litecoin, XRP, and Stellar Lumens are the best altcoins to invest in at the moment.
Moving Away From Bitcoin (BTC) Could Be Unproductive – Willy Woo
A prominent on-chain analyst and partner at Adaptive Capital – Willy Woo – said that it would be unproductive to move away from Bitcoin (BTC), especially when it comes to long-term investments. In a recent tweet, Woo said that almost all altcoins are moving in the same pattern as Bitcoin (BTC).
…and for the record, alt-coins are highly correlated to BTCUSD. Buying alts in an attempt to diversify only increases portfolio risk. This is why I am not a fan of alt-coin index baskets. https://t.co/y6HNIziZAR
— Willy Woo (@woonomic) September 21, 2019
Woo defended the proclaimed inefficient and slow technology of Bitcoin by drawing an analogy between the Lindy effect and its endurance. According to the theory of the Lindy effect, the chances of survivability of a non-perishable item such as a technology is directly proportional to its period of existence. He said Bitcoin (BTC) is a time-hallowed technology and it is a potential victor due to the most extensive network effects. Willy Woo concluded by saying:
“Bitcoin (BTC) is and would remain the only digital currency I would park my investments in for the long term.