Altcoins See Massive Gains in 2020 as the Crypto Market Welcomes Bitcoin Institutional Adoption

In the last 10 days, the altcoins market has shown impressive growth while Bitcoin continues to see steady momentum.

Bitcoin has already touched the $8, 750-mark with some analysts noting that we could see another major rally to highs of $9, 100.

Here is a an overview of the altcoins market currently:

• Dash – Up by 70% in the last 4 days
• Bitcoin SV – Up by 300% in the last 10 days
• Ethereum – Up by 11% in the last 7 days
• EOS – Up by 25% in the last 7 days
• Ethereum Classic – Up by 41% in the last 7 days
• Bitcoin Gold – Up by 172% in the last 24 hours
• ZCash – Up by 45% in the last 4 days
• Bitcoin Cash – Up by 54% in the last 10 days

From the look of things, Bitcoin forks are showing strength with many privacy coins showing a similar move.

SEE ALSO: [GENESIS TRADING CLASS] GETTING STARTED WITH CRYPTO TRADING – JANUARY 2020 TRADING CLASS

As institutional investment firms and brokers add bitcoin futures products to their offerings, we are likely going to massive volumes that could impact on the price trend of Bitcoin in the medium to long-term. There is already open and growing interest in Bitcoin derivatives products with demonstrated substantial increase in open interest ongoing.

Overall, strong bullish momentum seems to be the trend with the altcoins. While Bitcoin and Ethereum continue to hold on, the real deal currently lies with altcoins.

 

Disclaimer: The above post is for informational purposes only. You should not construe any such information or other material on this website as legal, tax, investment, financial, or other advice.

 

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