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Accra, Ghana
October 22, 2019
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Altcoin Bitcoin Finance

Here is Why Bitcoin Crushing Altcoins in 2019 Delaying The Alts Season.

Investment in altcoins continues to decline and  be at high risk the fact that Bitcoin continues to rise in value and as well Bitcoin dominance breaking new highs. As we all expected unlike 2017 bull run, altcoins had its bull season as Bitcoin broke new highs. Unlike 2017 altcoins are not gearing up as we expected making a lot of people a little disappointing as to whether altcoins are dead or not.

A lot of factors are affecting altcoins in 2019, as I am about to walk you through some of the factors, it risks investors capital and makes even some people doubt what could cause this major decline and delay alts season as a matter of fact.

Looks like investors are getting smarter in 2019 as to where they want to put their capital for investment in crypto. As investors gets smarter they look for an asset class in the crypto space that have more liquidity, some sort of intrinsic value and the one that looks safer for a store of value with bigger trade volumes. And as you can see it is no other crypto asset than Bitcoin. If you have been in the crypto market for some time you will agree with me that whenever we get whether a major or a minor pull back in the market, whenever Bitcoin drops in value, the damage it causes to it alternative coins sometimes could be twice,  thrice the lost in Bitcoin or maybe more, even ten times the drop in Bitcoin is even likely. As this longest bear market comes to an end, those who stayed to learn have gotten smarter to understand that Bitcoin is a store of value than altcoins and a way of adding up to their knowledge they now choose Bitcoin over altcoins and that is one major setback for altcoins as  as the name goes alternative to Bitcoin but people have a choice now.

Secondly, don’t be disappointed that 2019 is unlike 2017, as a matter of fact in 2017 we had tons of ICOs (Initial Coin Offering) that brought a lot of money into the market and it brought more liquidity into altcoins as people purchase Bitcoin and ethereum mostly to participate in ICOs. The fact that it brought huge liquidity in the alts market, tons of people got scammed too and it could not continue like that.Though i believe we are never going to get such an opportunity like ICOs bringing money into the market like 2017 because, people are smarter now, which is a major factor why alts are struggling, the new monies that come in the market are from different smarter sources which mostly, the larger parts are allocated to Bitcoin.

Likewise, one major setbacks for altcoins is the fact that Bitcoin dominance continues to break new highs. In 2017 as we had more money flowing from ICOs and alts, though Bitcoin dominance grew up to 80% plus in 2017 but it constantly began falling before the alts season started, as at now that it is breaking new highs one could hardly tell the fate of altcoins as to when we will see the bull season. Bitcoin dominance as at now breaks new highs of the year 2019 and stands around 65.30% now.

In conclusions to all of this I had hope the alts season comes earlier but is unfortunate as you can see sometimes when Bitcoin goes up in value in USD, alts go down in USD but gain value in Bitcoin basically in satoshi, as it based on more of Bitcoin and in satoshi I still hope the alts season will come. Just like it happen to Bitcoin when it came below $3000 people lost hope and thought it was coming to zero, funny thing, that was the bottom. Though TA speaking, some alts looks extremely bad in chart but I am beginning to think the bounce could be soon as people turn their backs and loses hope so could some magic happen. Having said that it would not be a bad idea to hedge altcoins now or maybe possibly tether it into USD as everything  now looks uncertain as to whether we bounce back to uptrend soon or not. Not an investment advice just my opinion though. Regardless, some altcoins are performing just nice as we expected and am proud of that because not all alts are declining in price and value, some are actually doing just fine like there is no Bitcoin influence.

I Am CryptoRas.

Feartured Photo by Austin Distel on Unsplash

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