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Why Bitcoin, Ethereum May Not Be The Best Plays For The Next Bull Market

Since the launch of bitcoin, there have been massive gains recorded by those that got in early and held on long enough. The same was the case with Ethereum, whose market cap grew to the hundreds of billions. However, the growth that these digital assets have already seen over the years, it has put a hamper on how much they can still grow over the coming years. This is why investors are looking elsewhere for larger gains. Bitcoin, Ethereum Gains Are Lower Over the last bull market, it became apparent that bitcoin and Ethereum will no longer be able to give the kind of returns that early investors had gotten. During the previous cycle low, bitcoin had dropped to as low as $6,000 but had reached $69,000 during its peak. This was a 10x growth for the digital asset. Related Reading: Why Most Public Bitcoin Miners Have Performed Terribly In Their Lifetimes The case was similar to Ethereum, the second-largest cryptocurrency by market cap, although it had fared much better compared to bitcoin. It had grown from its cycle low of around $100 to $4,800 at its peak. This was about a 500x growth for the digital asset. BTC grows 10x | Source: BTCUSD on TradingView.com However, their already massive growth has been putting investors off of them, not because they are not good investments but because the potential to explode exponentially has been greatly reduced. An example is that from bitcoin’s current price, even if it were to reach $100,000 per coin, it would still be a less than 10x growth. The same with Ethereum, although the digital asset does carry more potential for larger growth compared to bitcoin due to it being much younger. If ETH were to grow to $10,000 per token, it would barely be a 10x growth. Altcoins Take The Cake Altcoins had barreled ahead of market leaders such as bitcoin and Ethereum when it came to gains in the last bull market. Where these large digital assets were doing below 500x, smaller altcoins such as Dogecoin and Shiba Inu had recorded ROI in the thousands. Related Reading: Bitcoin Sees Massive Decline In On-Chain Activity Mainly, meme coins were notorious for such returns, but altcoins from other spheres had seen the same kind of growth too. FTM is a token that had traded as low as $0.2 and peaked above $3.4 during the bull market. DOGE’s price had made an impressive run-up from $0.004 to $0.7 at the height of its rally. However, these are only, but a small example of the many ways altcoin had been great investments during the bull market. With the next bull market expected to happen in 2024, it is no surprise when investors are turning to smaller cap tokens in hopes of catching the next DOGE or SHIB. Disclaimer: The following op-ed represents the views of the author, and may not necessarily reflect the views of Bitcoinist. Bitcoinist is an advocate of creative and financial freedom alike. Featured image from Medium, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

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Trading Giant Robinhood Enables Transfers for Recently Listed Ethereum (ETH) Challenger

Customers of the trading giant Robinhood can now execute external transfers of the Ethereum (ETH) competitor Avalanche (AVAX). Robinhood first launched crypto transfers in and out of its platform in July, adding trading support for AVAX and XRP rival Stellar (XLM) last month and unlocking transfers for Avalanche on Thursday. AVAX is trading at $17.31 […]

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Texas and Vermont State Regulators Object to Celsius Seeking Permission To Sell Stablecoin Holdings

Regulators from two states are objecting to bankrupt crypto lender Celsius seeking permission to sell their stablecoin holdings. According to recent court documents, the Vermont Department of Finance alongside two regulatory agencies from Texas are filing objections to Celsius asking the bankruptcy court if it can sell its remaining stablecoins. The Texas agencies say that […]

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Cardano Vasil Upgrade Cuts Gas Fees by Nearly 50% and Transaction Space by 10x: ADA Decentralized Exchange

Cardano (ADA)‘s Vasil hard fork has had a dramatic impact on the network’s efficiency, according to a decentralized exchange (DEX). MuesliSwap, a DEX built for Cardano, says the upgrade has reduced transaction sizes from 14.73kB to 1.31kB, and gas fees from 1.44 ADA to 0.73 ADA.  Cardano creator Charles Hoskinson touts the numbers quoted by […]

The post Cardano Vasil Upgrade Cuts Gas Fees by Nearly 50% and Transaction Space by 10x: ADA Decentralized Exchange appeared first on The Daily Hodl.

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Analyst Says One Crypto Asset Could Surge in October, With Entire Altcoin Market Loaded Like a Spring

A leading crypto analyst says traders are staring down the barrel of a loaded altcoin market, ready to blow. Crypto trader Justin Bennett tells his 109,600 Twitter followers that the altcoin markets, crypto markets excluding Bitcoin (BTC), are preparing to explode. “The altcoin market cap chart is coiled for something big in October.” Bennett tags the leading […]

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Crypto Trader Updates Outlook on Bitcoin and XRP, Says Ethereum’s Preparing a Move Up – Here’s His Target

A widely followed crypto trader is giving a bearish forecast for Bitcoin (BTC) and XRP as he expects Ethereum (ETH) to surge once the leading smart contract platform bottoms out. The pseudonymous analyst known as Altcoin Sherpa tells his 183,600 Twitter followers that the price of BTC will likely continue trading within the $18,200 and $19,500 […]

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Astar Network Partners With Legendary Artist Yoshitaka to Release an NFT collection on Its Blockchain

Astar Network Partners With Legendary Artist Yoshitaka to Release an NFT collection on Its Blockchain

A Build2Earn multichain network for smart contracts, Astar Network, is pleased to announce that it has partnered with legendary artist Yoshitaka Amano, a renowned Japanese artist responsible for iconic artworks. According to the announcement, the partnership follows the platform’s plans to create and release an exclusive NFT collection on its blockchain. Meanwhile, it marks the […]

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LBank Crypto Exchange Weekly Listing Report — September 26, 2022

LBank Crypto Exchange Weekly Listing Report — September 26, 2022

The weekly report from the LBank Exchange provides an overview of the intriguing new listings from this week and the week prior. Users can learn more in this report to comprehend these exceptional opportunities. New Listings on LBank Exchange Project: SIDO Listing date: 26th September Official Website: sidogame.io & sidogames.io About: SIDO P2E platform project avoids paying […]