Which are the top altcoins VS Bitcoin in Q1 2020?

bitcoin altcoins kyber network ethereum classic bitcoin sv

Are you curious about learning how Bitcoin has been developing during 2020? Great! You’ve come to the right place. To learn blockchain development and be certified I recommend visiting Ivan on Tech Academy

Blockchain is currently #1 ranked skill by LinkedIn. Because of that, you should definitely learn more about Ethereum to get a full-time position in crypto during 2020.

In my first and second pieces, I’ve discussed Ethereum 2.0 and the best tools for developers. In my third and fourth articles, I’ve discussed quadratic voting and open governance models. Then, in my fifth piece, I’ve looked into Swarm’s infrastructure.

In my sixth, seventh and eight ones, I’ve dove-deep into consensus algorithms and the blockchain trilemma. Lastly, I’ve looked into blockchain sharding technology, which projects are making it thrive and I’ve done an intro to Plasma and Looms

Last month I’ve explained the importance of blockchain explorers, why tBTC matters for Ethereum developers and the difference between cryptocurrencies, crypto-tokens and stablecoins.

This previous week I’ve discussed the value of cryptocurrency networks, hot and cold storage systems, why privacy matters to the crypto-space, the value of high time preferences and how can traders maximize ROI and profits.

This week I’ve looked into how Bitcoin’s technology has been evolving throughout the year. 

Today I’m looking into the top three altcoins versus Bitcoin in 2020: Kyber Network, Bitcoin Satoshi’s Vision and Ethereum Classic!

Let’s dig deep!

Bitcoin vs altcoins

btc-alts-2020

Over the past 90 days, there has been three altcoins which have fared quite strongly against Bitcoin: Kyber Network, Bitcoin SV and Ethereum Classic. 

My goal is to look into which altcoins might help you increase your Bitcoin portfolio in the short term. I’ll be using Messari.io’s awesome dashboard during my analysis.

During January 2020, some altcoins doubled in price versus Bitcoin, meaning you could conceivably greatly increase your Bitcoin holdings. You had only to spread your investment out to include some top-performing altcoins and then convert your profit back into Bitcoin.

As always, the views in this article should not be considered financial advisement. The volatility of the crypto markets means money can easily be lost. Never invest more than you can afford to lose and always do your own due diligence.

Now, to what matters. Let’s take a look at the top three coins of January 2020: Kyber Network, Bitcoin SV and Ethereum Classic. 

Kyber Network

At the moment of writing, Kyber Network is valued at around 7,850 sats. Not only that, but price almost tripled since the start of the new year. KNC has been gaining some momentum, following the necessity of having decentralized exchanges and oracles. 

Because of volatility, decentralized price feeds are hard to stabilize. Kyber Network is tackling that issue with some sweet oracles. Check out the Ivan’s video above to learn more about what’s been going on.

In terms of market liquidity, KNC is over $150,000,000. It means it’s fairly straightforward to sell your tokens in case you wish to do so.

To conclude, looking at the yearly change, Kyber Network has also been the top performer so far, increasing in price over 70% versus BTC. 

Let’s hope the momentum continues for KNC holders!

Bitcoin SV

Bitcoin Satoshi’s Vision, BSV, led by the infamous Craig Wright, has been outperforming Bitcoin over the past few months as well.

Since the start of the year the altcoin has more than doubled in price. At the moment, it’s worth close to 3 million sats. 

Even though tehnically the altcoin has been outperforming, you guys know how I feel about the project fundamentals. They suck. Hence, this might be a great opportunity to take some gains. Or not, it’s up to you as always! 

As long as volume does not decline too much, I don’t see a reason why BSV couldn’t keep pumping over the next few months.

In terms of market liquidity BSV has surpassed $4 billion, and is currently one of the most liquid coins after Bitcoin, Ethereum and Ripple. 

Ethereum Classic

Ethereum classic is one of the community’s favourite. 

It was born in the aftermath of the hard fork succeeding the DAO hack. 

Since the beginning of 2020, Ethereum Classic, ETC, has been growing quite substantially, versus Bitcoin. It has increased close to 80% in the past 90 days. 

Ethereum Classic is priced close to 1 million sats and in terms of liquidity, the market is close to $1 billion, making it a highly liquid altcoin.

Even though the cryptocurrency has grown since early 2020, it has underperformed Bitcoin in the past year, leaving quite some room for improvement.

Resources

This article is not financial advisement