The Future Coin

Bitcoin

$45,947.75

BTC -6.28%

Ethereum

$1,461.73

ETH -8.53%

XRP

$0.42

XRP -7.39%

Litecoin

$170.44

LTC -3.98%

EOS

$3.57

EOS -6.37%

  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • Blockchain News
    • Business News
    • Technology News
    • Policy & Regulations
  • Markets
    • Market News
    • Market Analysis
    • Price Indexes
    • Top Cryptocurrencies
    • Heatmap
  • Opinion
  • Cryptopedia
    • Explained
    • Bitcoin101
    • Ethereum101
    • Bitcoin Cash101
    • ICO101
    • Ripple101
  • Press Releases
No Result
View All Result
The Future Coin
No Result
View All Result
Home Altcoin News

Buy Crypto That Holds Up During Bitcoin Breakdown

by The Future Coin
January 22, 2021
in Altcoin News
0
Buy Crypto That Holds Up During Bitcoin Breakdown
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

Bitcoin has plummeted by more than $11,000 from its recent FOMO-driven peak. Normally, the bearish momentum in the top cryptocurrency is enough to drag down the rest of the market, but select altcoins are holding up surprisingly well.

One altcoin expert who has traded his way through multiple bear and bull cycles, suggests watching for and buying any alts that are holding up especially well against BTC during the current drawdown. Here’s a closer look at a few cryptocurrencies that fit the bill.

Bitcoin Bleeds, But Buyers Focus on Accumulating Select Altcoins

Bitcoin and altcoins have an on-again, off-again relationship, which is no surprise for the two types of volatile digital assets.

Bitcoin typically must be bullish or consolidating for altcoins to perform well. When sentiment turns on the market leader, alts take a much worse beating.

Related Reading | Technicals Point To Extended Ethereum Dominance Over Bitcoin

This time around, certain alts are holding up against the market’s abuse more so than others, and one expert says that those are the crypto asset to buy for the biggest profits in the months ahead.

That expert is Nik Patel, author of An Altcoin Trader’s Handbook.

bitcoin versus altcoins

Buy altcoins that have held up well against BTC, claims expert | Source: BTCUSD on TradingView.com

Why Investors Are Scooping Up Alts Over BTC Currently

Patel knows Bitcoin and altcoin cycles, and has made more than one fortune off of the repeating, cyclic patterns of cryptocurrencies. The author also in the past has explained alt season boom and bust cycles, where certain cryptocurrencies outperform BTC by a wide margin.

Altcoins like Ethereum, Chainlink, and Uniswap have been beating Bitcoin at its own game recently, and according to Patel, these might be coins worth paying closer attention to.

These alternative digital currencies showing strength when sentiment is turning on the leading cryptocurrency by market cap, says that buyers are buying the blood currently, but they are avoiding Bitcoin for now.

As to why altcoins could be holding up better than Bitcoin, it all comes down to unrealized profits. After the epic Bitcoin rally, investors have plenty of profit left to realize, before its too late. This results in the selloff becoming more severe.

Related Reading | Proper Altcoin Season While Bitcoin Drops Has Traders “Cautious”

The altcoins highlighted have all set a new all-time high, but still have much more to go before prices double like they have in Bitcoin. On the flip side, there are some alts out there that aren’t anywhere near in profit, and given the lack of interest still, likely won’t be in the near future.

Featured image from Deposit Photos, Charts from TradingView.com



Source link

EDITOR’S CHOICE

Global Crypto Investment Fund FD7 Ventures to Sell $750M USD Worth of Bitcoin to Increase Cardano and Polkadot Holdings

Coinbase Files for Direct Public Listing With SEC - Cryptocurrency Regulation

Tanla to take Blockchain platform Trubloq abroad

From mail-in ballots to business as usual, Vermont municipalities prepare for Town Meeting

CI files prospectus for Ethereum ETF - Advisor.ca

Crypto bull run on track amid surge in US inflation expectations

Best Pick For You

News

  • Altcoin News
  • Bitcoin News
  • Blockchain News
  • Business News
  • Ethereum News
  • Litecoin News
  • Ripple News

Features

  • Market Analysis
  • Opinion
  • Explained
  • Policy & Regulations
  • Top Cryptocurrencies
  • Technology News

Market Tools

  • Market News
  • Price Indexes
  • Bitcoin Price Index
  • Ethereum Price Index
  • Bitcoin Cash Price Index
  • Litecoin Price Index
  • Monero Price Index
  • HeatmapPartner

Cryptopedia

  • Explained
  • Bitcoin101
  • Bitcoin Cash101
  • Ethereum101
  • ICO101
  • Ripple101

© 2020 Coingraph

No Result
View All Result
  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • Blockchain News
    • Business News
    • Technology News
    • Policy & Regulations
  • Markets
    • Market News
    • Market Analysis
    • Price Indexes
    • Top Cryptocurrencies
    • Heatmap
  • Opinion
  • Cryptopedia
    • Explained
    • Bitcoin101
    • Ethereum101
    • Bitcoin Cash101
    • ICO101
    • Ripple101
  • Press Releases

© 2020 Coingraph

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
bitcoin
Bitcoin (BTC) $ 46,122.00
ethereum
Ethereum (ETH) $ 1,464.62
tether
Tether (USDT) $ 1.01
binance-coin
Binance Coin (BNB) $ 222.62
cardano
Cardano (ADA) $ 1.07
polkadot
Polkadot (DOT) $ 29.63
xrp
XRP (XRP) $ 0.429302
litecoin
Litecoin (LTC) $ 170.56
chainlink
Chainlink (LINK) $ 24.84
bitcoin-cash
Bitcoin Cash (BCH) $ 478.52
usd-coin
USD Coin (USDC) $ 1.01
stellar
Stellar (XLM) $ 0.369592
uniswap
Uniswap (UNI) $ 22.36
dogecoin
Dogecoin (DOGE) $ 0.050294
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 45,949.00
okb
OKB (OKB) $ 15.89
nem
NEM (XEM) $ 0.457377
cosmos
Cosmos (ATOM) $ 17.12
aave
Aave (AAVE) $ 322.62
crypto-com-chain
Crypto.com Coin (CRO) $ 0.152156
solana
Solana (SOL) $ 13.66
monero
Monero (XMR) $ 201.03
eos
EOS (EOS) $ 3.55
bitcoin-sv
Bitcoin SV (BSV) $ 178.86
tron
TRON (TRX) $ 0.044599
iota
IOTA (MIOTA) $ 1.09
theta-token
Theta Network (THETA) $ 2.99
huobi-token
Huobi Token (HT) $ 16.07
havven
Synthetix Network Token (SNX) $ 17.97
neo
NEO (NEO) $ 36.90
tezos
Tezos (XTZ) $ 3.33
terra-luna
Terra (LUNA) $ 6.01
vechain
VeChain (VET) $ 0.038641
ftx-token
FTX Token (FTT) $ 27.03
dai
Dai (DAI) $ 1.01
binance-usd
Binance USD (BUSD) $ 1.01
cdai
cDAI (CDAI) $ 0.021404
dash
Dash (DASH) $ 211.30
avalanche-2
Avalanche (AVAX) $ 26.50
the-graph
The Graph (GRT) $ 1.63
elrond-erd-2
Elrond (EGLD) $ 110.91
kusama
Kusama (KSM) $ 211.83
filecoin
Filecoin (FIL) $ 34.40
leo-token
LEO Token (LEO) $ 1.97
celsius-degree-token
Celsius Network (CEL) $ 4.92
compound-usd-coin
cUSDC (CUSDC) $ 0.021901
compound-ether
cETH (CETH) $ 29.25
maker
Maker (MKR) $ 1,984.08
sushi
Sushi (SUSHI) $ 13.75
compound-governance-token
Compound (COMP) $ 389.28