"Alternative to Bitcoin" known as "Alt Coins" rose to fame after a successful launch of Bitcoin as a digital asset. There are over 900 altcoins in the digital network in their respective blockchain. Notably, Bitcoin come always as the star for the past 2 bull market cycles. Basing on history in the past couple of years whenever Bitcoin hits its all-time high surge in altcoins is greatly observed as well.
Take off for Altcoins this 2021
With so much new money entering the cryptocurrency market. Large-cap investors are treating Bitcoin as a global investment as this is impenetrable and mining is so scarce due to the halving of Bitcoin. Since alternatives spikes, altcoins are getting more and more popular in bull markets and people have perspective risk/reward ratio as they base it to Bitcoin's data over the past couple of years.
Speculatively, it is the best time to buy altcoins as some tokens are just less than over a dollar. To stress more, as altcoins hitting astronomical highs, the price stabilizes and the market becomes easier to predict and trade.
Market Capitalization of Alt Coins
The first exchanges were first initiated with the barter of goods, then followed by precious metals then printing of paper money. New market upsurge when cryptocurrency was put into realization, the demands are extremely astounding. Altcoins are one of the hottest picks for 2021, if we base it through the chart below, with over $359 billion dollar worth of total market capitalization excluding Bitcoin. Then, this might create another all-time high since 2018 as the bull cycle is just starting.
Good Signs for an Another Bull Run
With multiple projects being laid in the blockchain especially in the Defi Markets that aim to lower down an exorbitant amount of fees. A multi-billion company such as PayPal, giant institutional players are now entering the crypto markets. They have also expanded not just with Bitcoin but with the other altcoins as well including ETH, LTC, and Bitcoin Cash (BCH) to their clients. A good sign for other companies to take in more altcoins as their mode of exchange.
