Thus far, 2020 has been the year of the altcoin, not Bitcoin. Which altcoin is the year’s biggest star may be arguable, but its quite clear that the alternative digital currencies have beat out the first-ever cryptocurrency by a wide margin.
And although altcoins have vastly outperformed Bitcoin so far this year, one pseudonymous crypto analyst claims that the real altcoin party doesn’t start until early next year. Will 2021 be the real year for altcoins to shine?
Altcoins Shine in 2020, Outperform Bitcoin, But Party May Not Begin Until Next Year
All throughout the world of finance, Bitcoin is being looked at as the best performing asset of the year thus far. And in mainstream finance, this is true. Bitcoin has outperformed the stock market, gold, oil, and nearly every other asset on the face of the planet.
However, crypto market insiders know that Bitcoin’s 60% ROI for the year is nothing compared to several other altcoins. For example, Chainlink is up 750% in 2020 in comparison.
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The top altcoin, Ethereum, is up 200% year to date, more than tripling Bitcoin’s returns. In fact, Ethereum beats out just about any other investment made with a $1,200 stimulus check, if held through now.
Bitcoin and Altcoin Market Cap Chart Comparison | Source: TradingView
Even the total altcoin market cap as a whole is up well over 125% for the year, led by the seemingly unstoppable DeFi trend. Buying nearly any altcoin on Coinbase in this month would have resulted in a 50% or more return on average.
But even with so much wealth being generated, could the real altcoin party still be a far way off?
Alt Season Outperformance Expected in 2021, Even As BTC Surges To $300,000+
According to one pseudonymous trader analyzing the charts of top altcoins Ethereum and XRP, the altcoin party won’t