Just after the successful launch of Bitcoin in 2019, the cryptocurrency market saw an emergence of several altcoins. They work as an alternative to Bitcoin and project themselves to be better substituted. Altcoin’s main objective is to perceive the limitations inherent in Bitcoin. Investors are earning profits from altcoin arbitrage. In the last bull run, several altcoins rose ten times to their current value. In this article, we will learn from some prominent crypto experts whether a crypto bear market is over or we will see some more potential from Altcoins in the future.
Let’s See Whether Crypto Bear Market Will Be Over
1. John Frigo
MySupplementStore is a digital platform that provides substantial discounts in bodybuilding supplements, protein supplements, and fat burners. MySupplementStore’s digital marketing lead, John Frigo points out that when it comes to Altcoins, people start comparing their worth with dollars rather than Bitcoin itself. Earlier, crypto exchanges did’ not provide an exchange of altcoins with dollars, but today, these exchanges are providing the facility to trade altcoins with dollars. John Frigo is more interested in cryptocurrencies like Bitcoin, Litecoin and Ethereum. He is not a big fan of altcoins and finally concludes that as these altcoins lack any working project, they will not perform as earlier bull run.
2. Kelly A. Ferraro
He is the Principal of KAF Communications and states that the movement of an altcoin is dependant on that of Bitcoin Cash (BTC). Due to this, the altcoins’ prices may go up and down after the previous bull market run. According to him, crypto investors would benefit more from these altcoins if they hold them for a long term rather than just selling them.
3. Jimmy Nguyen
Jimmy Nguyen is a prominent person who comes from Bitcoin Association. Bitcoin Association is a non-profit organization that was started in September 2012. Its main objective is to maintain the value of Bitcoin.
According to Jimmy Nguyen, as the altcoins follow the same trend with BTC and are unfortunate byproducts that have risen from cryptocurrency exchanges. It is essential to note whether digital assets like altcoin build real term values, which makes it independent of BTC and other cryptocurrency performances.
4. Henry Stanley
ICOAxioms provides the data analytic service for ICO. The company is well known to provide detailed review and ratings about ICOs. Ceo of ICOAxioms is somewhat positive with the increase in altcoin price. According to him, this rise in the value of altcoin will continue in the future. Altcoins will develop their benefit and will become independent from Bitcoin cash in the coming future.
5. Martin Weiss, Founder, Weiss Crypto Ratings
Altcoins are newer than Bitcoin, and they have progressed well from the time they came into existence. Altcoins are dominating the cryptocurrency market together with Bitcoin. While the Bitcoin has risen to 62%, and the pair of altcoins are up with more than 80%, by which we can conclude that altcoins have somehow outperformed Bitcoin this year.
In our discussion of whether the crypto bear market will be over or not, we have seen that altcoins came after the successful launch of Bitcoin. In the previous market bull run, they performed incredibly well, rising to 10 times the current value. The investors are expecting such performance in the coming years. Altcoin news today predicted altcoin had outperformed Bitcoin, and they did so by raising its worth more than 80%, which is 20% more than the latter. Prominent people from the cryptocurrency market are positive about altcoin. They expect that it will become independent of Bitcoin cash and will develop their value in the future.