The Altcoins still have an advantage over Bitcoin, despite the massive bomb of the king currency. During the last hours of January 18, Bitcoin broke the $ 9,000 limit for the first time since November, with the world's largest cryptocurrency above its 200-day moving average. However, despite such abrupt movement, major alternative currencies such as Ethereum and Binance Coin have seen larger movements since the beginning of the year.
The best altcoin, Ethereum , has registered a massive increase in the market lately due to a number of factors. From DeFi to MakerDao, the Ethereum network has been constantly developing, with the same indirect effects on the price of Ether [ETH].
Since the beginning of the year, three weeks ago, ETH has increased by almost 40 percent, and its price has increased from $ 128 to more than $ 175. The above-mentioned increase has positioned ETH as the highest-profit large-capped cryptocurrency. this year.
Source: ETH / USD through Trading View
While it should be noted that Bitcoin SV registered a larger increase, especially during the last week due to the events in the Wright v. Klieman, most important exchanges, except Bitfinex , OKEx and Huobi , do not offer BSV trade. Therefore, markets are dominated by less known exchanges that are known to counterfeit volume.
Another constant YTD performance was recorded by Binance Coin as it registered a 38 percent inclination since the beginning of the year, trading at more than $ 18 after the year started at $ 12. After closing 2019 at a minimum, losing almost Half of its value in the last two months of the year, BNB began its resurgence in mid-December and has since added more than $ 8 to its price.
In comparison, Bitcoin has only gained 30 percent since the beginning of the year. In addition, altcoins were not driven by the global macroeconomic market, as Bitcoin did. In the first week of the year, as the United States delicate an Iranian military commander, oil, gold and Bitcoin saw a massive increase, all assets of "safe haven". This conflict between the United States and Iran led Bitcoin to more than $ 8,000 on January 7 for the first time since November.
Gold , despite seeing 10 consecutive green candles on the daily chart and reaching its highest point in more than 6 years, has seen a price increase of 3.84 percent at its ATH 2020 by $ 1,574 per ounce of gold. To be fair, gold, which had one of the best performances last year, compared to previous years, increased by only 21 percent. Therefore, volatility and the immediate inclination of prices are not the strong yellow metal.
The main equity index, the S & P500, also experienced a 3% increase since the beginning of the month.