Since Bitcoin’s launch, there have been huge profits recorded by those who got in early and held out long enough. However, these digital assets have already been growing for years, hindering how much they can grow in the years to come. That’s why I’m pointing.
Bitcoin, Ethereum Profit Low
The last bull market made it clear that Bitcoin and Ethereum would not be able to offer the returns that early investors got. At the last cycle low, Bitcoin fell to $6,000, but at its peak, he reached $69,000. This was his 10x growth in digital assets.
The case was similar to Ethereum, the second largest cryptocurrency by market capitalization, but far superior to Bitcoin. From cycle lows of around $100, he has grown to $4,800 at the peak. This was about 500x growth in digital assets.
BTC grows 10x | Source: BTCUSD on TradingView.com
But their already massive growth is keeping investors away, not because they’re not a good investment, but because their chances of exponentially exploding have greatly decreased. From that point of view, even reaching $100,000 per coin would only grow less than 10x.
Same as Ethereum, but the digital asset is younger than Bitcoin, so it has more growth potential.
altcoins take the cake
Altcoins were ahead of market leaders like Bitcoin and Ethereum when it came to rallying during the last bull market. Smaller altcoins such as Dogecoin and Shiba Inu recorded his ROI in the thousands when these larger digital assets were performing at less than 500x his.
Primarily, memecoins were famous for such returns, but altcoins in other areas were seeing similar growth.FTM traded to $0.2 in the bull market and peaked above $3.4. A token that has reached DOGE’s price climbed from $0.004 to $0.7, reaching a new all-time high.
But these are just a few examples and just a few of the many ways altcoins have become great investments during bull markets. With the next bull market expected to occur in his 2024, it makes sense for investors to look to smaller cap tokens in hopes of catching his next DOGE or SHIB. That’s it.
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
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