With greater regulatory pressure and increased skepticism, Bitcoin and other cryptocurrencies (altcoins) are suffering in market value. Analysis agency Ceteris Paribus ascertains that altcoins have permanently lost their value.
Alts investing remains picking a needle in a haystack. Though, if you pick right, the returns are disproportionately higher than Bitcoin.
Alts are active investing & Bitcoin is passive.
— Gautam Chhugani (@GautamChhugani) July 24, 2019
The values of altcoins against Bitcoin (BTC) are dropping, and the value of BTC itself has fallen below the benchmark of $10,000. If these rates continue, altcoins will also suffer.
In terms of growth rate, earlier this year, altcoins were growing at a quicker rate than BTC, some even growing at a rate double that of Bitcoin. Litecoin grew by 600%, for instance.
Unfortunately, since April, Bitcoin and other altcoins have started to depreciate, reaching lower values, and investors are quickly abandoning the market. A lot of negative speculation is from impending legislation on Binance, a majorly-used crypto exchange platform.
Many investors are optimistic about the future performance of altcoins. On the other hand, analysts warn that altcoin crazes have damaged the assets permanently, and they will never rise to their all-time high again.
Cryptocurrency analysis website Ceteris Paribus reported that if the subcoins retain their BTC rate, even if the Bitcoin reaches $100,000, the altcoins will be below the all-time high..
Such a situation inevitably means that the loss cannot be recovered for the investor buying at high levels.