Bitcoin
These coins kicked off a ‘massive Altcoin Rally’ by outperforming Bitcoin and Ethereum
No Crypto Banter’The sniper trade show’ the analyst took a closer look at the market, particularly with regards to altcoin investments and long-term holdings. He highlighted the importance of understanding the relative performance of Bitcoin and Ethereum, the two main players in the market.
By adjusting settings to view coin performance relative to Bitcoin or Ethereum, investors can discern which tokens outperform Bitcoin. Although few tokens outperformed last week due to temporary factors such as dominance retests, some tokens showed promising performance against Bitcoin last month.
With Bitcoin and Ethereum receiving attention and experiencing uptrends, the focus now shifts to identifying tokens that can outperform. Tokens such as Injective, Render, Blockstack, AVAX, Ethereum and Sushi show signs of awakening and outperforming Bitcoin.
The analyst explained that if you look at Ethereum, little has outperformed it lately, except dydx, a decentralized exchange, and a few others. He thinks Ethereum will perform better than most altcoins for now, but many altcoins will follow it when it makes a big move.
He explained that comparing Solana with Ethereum, you can see which one outperforms the other. When the graph is green, Solana is better; when it is red, Ethereum is winning. So, if you had exchanged one Ethereum for Solana last September, you would have already gained three Ethereum. Many focus on the token’s price, but what matters is its performance relative to Bitcoin and Ethereum.
The analyst highlighted how platforms like Optimism can help you earn more Ethereum. He loves charts that show consistent patterns over time, just like the one in Cosmos. If you notice when the pattern changes, you can make smart moves. For example, selling one Ethereum to buy Atom and then buying back the Ethereum can help you grow your assets.
He suggested slowly accumulating tokens like Injective, and when it starts to emerge, it’s time to take the plunge. Look at Theta – he’s perfectly positioned now. Remember, in the last cycle, some tokens outperformed Ethereum by 1,300%. Currently, Ethereum is the focus, but we must also be ready for the next phase when altcoins start to overtake Ethereum.