Should you invest in Bitcoin or Altcoins?

Bitcoin has become an inaccessible

There is no doubt that 2021 is being a great year for Bitcoin (BTC), but while the first and most famous of the digital currencies lose the momentum that previously propelled it to great heights, the rest of the cryptocurrencies are gaining ground.

These other currencies, called “altcoins” (alternatives to Bitcoin) may not enjoy the name and recognition of Bitcoin, but it would be a mistake to underestimate them, since many of these altcoins represent great investment opportunities that could well surpass Bitcoin, such as They also demonstrate the latest trends in the market.

Following recently observed losses, Bitcoin’s dominance rate now stands at 49.5%, its lowest level in nearly three years.

This fluctuation is a clear reflection of the growing interest in altcoins in the market and has led many traders to declare the season open for altcoins, estimating that they will win the race against Bitcoin in the short term.

The prevailing popular wisdom in the relatively new world of cryptocurrencies establishes that the value of altcoins is subject to the price of Bitcoin, so the waves caused by the advance of Bitcoin also tend to favor the advance of the rest of the vessels in the open sea.

In the same way, when a waterway is discovered in the Bitcoin ship, it can sink the altcoins, although it is true that this dynamic seems to have now ended.

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Don’t lose sight of these altcoins

2021 has been discovered as a true tipping point for cryptocurrencies whereby previously observed patterns are no longer met, and the value of altcoins is increasingly decoupled from Bitcoin.

Of particular relevance is the case of the second digital currency according to its market capitalization, Ethereum (ETH), which this week reached new historical highs while Bitcoin lost 20% compared to its historical maximum.

This could well be due to the encouraging statements made by Visa at the end of March after stating that it will accept transactions and payments with cryptocurrencies, using the Ethereum blockchain for this.

Dogecoin (DOGE) has once again reached all-time highs, thanks again to Elon Musk’s tweets.

Thus, the founder of Tesla called himself “Doge’s father” last Wednesday while promoting his upcoming appearance on the television show Saturday Night Live on May 8.

Certainly, a date that Doge traders should highlight on their agendas! Musk has promised that he will “literally take Dogecoin to the moon” with the launch of the SpaceX rocket, a company with which Musk has joined the race for commercial flights to the moon.

Chainlink (LINK) has also obtained good results after publishing its version 2.0 Whitepaper, a technical document in which it presents a new architecture for the creation of smart contracts through a framework for multiple interoperable decentralized oracle networks.

For its part, LINK posted an all-time high of $ 44 before experiencing a correction to $ 36.

Nonetheless, it is still a solid investment option.

Other altcoins that should be watched are Qtum (QTUM) and Pancakeswap (CAKE).

These are innovative tokens that recently hit all-time highs but are still affordable for retail investors.

Without forgetting the already consolidated Litecoin (LTC) and Monero (XMR).

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Why Altcoins are becoming popular instead of Bitcoin

Each currency obeys a function, be it a digital currency, government token, a smart gas contract, etc.

Even ‘meme coins’ like Dogecoin do the job.

A clear factor in its favor is its profitability, which could well be the reason behind the attraction to altcoins that so many traders are experiencing during the Bitcoin pullback.

While it is true that BTC has lost ground with respect to its all-time highs, it is an asset with great recovery capacity that has managed to rise after the fall suffered, remaining at $ 55,000 as of this writing.

Even so, with such a price, many retail investors cannot even consider the idea of ​​buying a whole Bitcoin.

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Trade all the popular Altcoins with StormGain

With the altcoin season open and in full swing, every trader should carefully choose a trusted cryptocurrency platform that makes a wide variety of altcoins available to them and produces the best returns on their investments.

StormGain, the cryptocurrency trading platform with low commissions and a high level of leverage, has just presented its new range of altcoins, among which you will find all the above-mentioned currencies and many other assets.

StormGain users trade ETH, XMR, LINK, CAKE, DOGE, and other altcoins with the best conditions, but they can also enjoy certain exclusive advantages of the StormGain platform, such as accrued interest or the Bitcoin cloud miner.

Creating an account at StormGain is very easy; All you have to do is register through StormGain’s Official Website or smartphone application, choose your username and password and start operating in just a few seconds! Register now and start reaping your benefits during the altcoin season thanks to the cryptocurrency trading platform that offers you the best incentives on the market.

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