Altcoins Continue To Tighten The Gap Between The Leading Crypto And Others
A cryptocurrency expert has said that there are chances of the bitcoin being squeezed. The expert attributed the squeezing to the elaborate developments that are taking place. Unlike in the past years, today, there are many digital coins. Many of them are moving up fast. When you compare their age with the bitcoin, you will agree that they are coming up fast. Bitcoin Cash and Ethereum are just examples of the digital coins. The two are placing themselves in the market as traditional cryptos. It is for this reason, mobile casino sites are accepting them.
Why Are Altcoins Tightening The Gap Between The Leading Cryptocurrencies?
Dan Nathan, CNBC Fast Money expert, says that Bitcoin Cash is moving fast. As such, Nathan says that it is likely that BCH will replace the red-hot coin. Although for now, the latter has many billion in the market cap, BCH will do fast to reach it. Dan revealed this in a post. He said that it is shocking, but that is the truth. Nathan says that in recent years, bitcoin faces technical hitches. On the other hand, the CNBC Fast Money expert says that Ethereum and Bitcoin Cash seem stable. Besides, the two seem to be coming up fast.
The analyst even said that following the recent shakeups, the traditional coin has been most affected. He pointed out that whenever there is an announcement that is negative to altcoins, bitcoin is the target. It is most likely that other digital coins suffer. But the red-hot altcoin suffers most, which This is costing the bitcoin a lot. Many people are now trying alternative methods. Investors want to try something else. They have a feeling that by the time other digital coins will face the same problems, they’d have achieved their goal. Dan finishes with his reasons why the two are the options. He takes us back in the days. He says that interest in BCH rose when people realized that it was cheap and faster to transact.
What Specific Altcoins Are Closing The Gap Between Cryptos?
He says that he buys ether and BCH. The two are faster than the bitcoin. He even says that whenever he tries the traditional coin, he incurs technicalities. Nathan says these are the reasons why people will run away from the first altcoin. “People want to build on the ones where they think it’s cheaper and faster and those are ethereum and bitcoin cash,” Nathan said. Fellow panelist at CNBC Karen Finerman opines with Nathan. The panelist said, “Bitcoin cash is more interesting. The discrepancy with bitcoin is there, but the gap will close, which is the interesting part of cryptocurrency business.”
Most Altcoins and even the bigger cryptocurrencies like Bitcoin, Litecoin, Ethereum and Bitcoin Cash have had a hard time in 2018. Many cryptocurrency investors and stock market traders got involved in the cryptocurrency trading market because of the volatility. While this idea sounded good, most of the investors and stock market day traders lost money.
Unless you are one of the very few people that can successfully make a profit day trading, you may find it even harder to bet on Bitcoin and other cryptos in 2018. Having said that, people like Tom Lee from Fundstrat have high hopes for Bitcoin and other altcoins in 2019. Their extrapolations were very wrong in 2018 to the point where they predicted Bitcoin to high over twenty thousand dollars. Will the cryptocurrency market turn from a bear market into a bull market in 2019? Only time will tell.
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