Altcoins Will Reportedly Not Outperform Bitcoin In The Long Term
There are all kinds of speculations in the crypto space these days, and among them is the fact that altcoins might outperform Bitcoin. But not everyone agrees.
A crypto hedge fund analyst at Adaptive Capital said that the notion that his firm invests in crypto is mistaken.
Adaptive Capital plays boom and bust cycles
Willy Woo said that Adaptive Capital plays a crypto boom and bust cycles and does not merely make investments with the intention of holding on forever.
On the other hand, when it comes to enthusiasts looking to buy crypto for the long haul, Woo says he believes there’s little chance Ethereum, XRP or any other digital asset will outperform Bitcoin.
“Crypto asset investment is a misnomer. It’s unlikely any crypto asset will outperform Bitcoin over a long arc of time, so in order to get alpha, it’s really an active trading strategy,” Woo said.
He continued and said: “Adaptive does not invest, we trade with the latest learnings in on-chain / fundamental signals.”
Woo also pointed out the fact that Litecoin’s price action may foreshadow what happens in the future with Bitcoin.
“Using on-chain investor activity, which gives a read of where this may go; LTC is already very bullish, while BTC is still consolidating around an early bullish swing. In a nutshell, I’m expecting a bullish run in BTC lead by LTC as a confirmation signal.”
BTC enters a new bull phase
It’s also worth noting that back in December 2019, Woo stated that Bitcoin is entering a new bull phase.
Bitcoin has been indeed really bullish these days and this week marked an important race of the coin.
At the moment of writing this article, BTC is trading in the green and the most important coin in the crypto market is priced at $9,785.96.
There are various optimistic predictions surrounding the price of BTC these days.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.