{"id":400936,"date":"2019-10-09T19:00:27","date_gmt":"2019-10-09T19:00:27","guid":{"rendered":"https:\/\/wncen.com\/?p=400936"},"modified":"2019-10-09T17:11:18","modified_gmt":"2019-10-09T17:11:18","slug":"bitcoin-outperformed-altober-continues-as-altcoins-show-upsurge","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-outperformed-altober-continues-as-altcoins-show-upsurge\/","title":{"rendered":"Bitcoin Outperformed: Altober Continues as Altcoins Show Upsurge"},"content":{"rendered":"

Bitcoin<\/a> has started once again trading sideways after a breakdown from its previous trading range, and when Bitcoin trades sideways, altcoins often get their time to shine.<\/span><\/p>\n

Thus far in October, altcoins have outperformed Bitcoin by a wide margin, and according to crypto analysts, the surge in alts could last all month long and have dubbed the month of October \u201cAltober,\u201d as a result.<\/span><\/p>\n

Move Over Alt Season, Bitcoin Beware, Altober Is Here for Altcoins<\/h2>\n

The crypto community has affectionally dubbed the month of October as Altober, due to altcoins like Etheruem<\/a>, XRP<\/a>, Litecoin<\/a>, and many more vastly outperforming Bitcoin in recent days.<\/span><\/p>\n

Related Reading | Bitcoin Dominance Breaks Down As Altcoins Begin to Rebound\u00a0<\/a><\/strong><\/em><\/p>\n

The normal term for when altcoins outshine Bitcoin is called an alt season, but the term has been used to the point of meme status over the course of 2019, as each glimmer of hope that altcoins would rebound was stopped short by the king of crypto, Bitcoin.<\/span><\/p>\n

But now that Bitcoin dropped from local highs, it is now trading in a sideways range \u2013 creating the perfect environment for the altcoin market to pop and regain some lost ground against Bitcoin.<\/span><\/p>\n

Of the top ten, almost all crypto assets have outperformed Bitcoin. From October 1 through today, Bitcoin is up roughly 2% from high to high. Meanwhile, Ethereum<\/a> has risen 8% and Litecoin<\/a> 7% in the same timeframe.<\/span><\/p>\n

XRP<\/a> is another standout from the top ten cryptocurrencies by market cap, posting a 12% gain during the month of October thus far. Binance Coin, the crypto platform\u2019s native token \u2013 and the best performing altcoin of the year \u2013 also rallied by as much as 17%.<\/span><\/p>\n

Related Reading | Ethereum, XRP, Litecoin and Other Large Cap Altcoins Poised For 20% Breakout\u00a0<\/a><\/strong><\/em><\/p>\n

Below the top ten, Maker has surged, cementing a 22% gain since October 1. However, few crypto assets have performed as well as Chainlink this month, with an over 61% gain in less than ten days. With such performance, it won\u2019t be long until Chainlink enters the top ten cryptocurrencies by market cap<\/a>.<\/span><\/p>\n

Despite the gains across the board in the altcoin market, it\u2019s not clear whether this is the first signs of a true reversal from the bloodbath the crypto market has seen over the last two years, or if this is just another dead cat bounce to be swatted down by crypto traders bearish on altcoins.<\/span><\/p>\n

\n

If you look at #Bitcoin<\/a>'s previous Market Cycles… <\/p>\n

Altcoins have always rallied after $BTC<\/a>'s first major pullback in its new Bull Market<\/p>\n

It doesn't look like this time is different#Crypto<\/a><\/p>\n

— Rekt Capital (@rektcapital) October 9, 2019<\/a><\/p><\/blockquote>\n