With The Stage All Set, Which Cryptocurrency Will Be The Next To Witness A Massive Turn In Its Fortunes?
It seems as though the economic climate is just about right for us to experience another bullish explosion within the world of crypto-based finance.
However, this time around, it feels as if it might not be Bitcoin that triggers the run but rather some other top 10 altcoin.
Straight off the bat, it is worth saying that 2018 has definitely not been the best year for the digital currency market. This is made evident by the fact that a host of alt-assets have lost up to 80% of their ATH value (since January 2018).
A Closer Look At The Matter
Over the course of the last two months (Oct-Nov), the price of BTC has remained remarkably steady.
Not only that, a quick glance at Bitcoin’s volatility index for the past 30-days shows that the currency has only displayed value fluctuations that range in the 1.55% region (which is very impressive to say the least).
As a result of this, many investors have begun to view the asset with a renewed sense of purpose, especially since Bitcoin provides them with a long term option of serving as a digital transaction medium (as well as an excellent store of value).
Another point worth mentioning here is that as time progresses, the US SEC might also take into consideration BTC’s low volatility when deciding to approve the status of various Bitcoin ETF proposals that have been put forth by a host of firms to the regulatory body (in recent times).
In regards to the matter, Anthony Cuthbertson, a leading crypto analyst, writes:
“Cryptocurrency analysts believe the market might be on the verge of mirroring the gains it experienced in late 2017.
How to evaluate which crypto will BOOM next
The only caveat is that it might not be bitcoin that leads the charge this time.”
Which Currency Is Destined To Hit It Big Soon?
With the official numbers out there, the looming question that now seems to be on everybody's mind is:
“Will XLM or ETH be the altcoins to witness a huge economic surge in the coming few weeks?”
According to crypto research organization, Santiment, Ether is on its way to bouncing back thanks to its recent market moves.
This sentiment is also echoed by Ian Mcleod who too believes that Ethereum “could be on the verge of a monumental, defining global breakout.”
Likewise, there are those who say that Stellar Lumens (XLM) too could be the alt-asset which serves as the catalyst for a fresh new bull run within today’s digital currency market.
This could be in part due to the firm’s decision (on November 6, 2018) to give away $125 million worth of XLM to its Blockchain wallet users (i.e those who sign up for the airdrop).