Alternative Cryptocurrencies Steal the Show

[gembelmonte18]

Alternative cryptocurrencies, also known as altcoins, a term that is generally used to describe cryptocurrencies outside of the major currencies like bitcoin and Ethereum, have continuously outperformed bitcoin and other large cryptocurrencies in the market over the past few weeks.

Today, on April 24, some of the best performing altcoins include ICON (ICX), Ethos (BQX), EOS, and Kyber Network (KNC). All of these ERC20 tokens have recorded more than 10 percent gains against bitcoin which also recorded a solid gain of its own at around 3 percent.

ICON’s daily trading volume has reached 15,500 BTC, with around 50 percent of that coming from the world’s largest cryptocurrency exchange Binance and the other 50 percent from South Korean cryptocurrency trading platforms Bithumb and Upbit.

Against the US dollar, ICON has demonstrated an increase of 16 percent, rising to $1.5 billion in market valuation and $145 million in daily trading volume. Traders are attributing the surge in the price of ICX over the past two weeks to the upcoming launch of its main platform on April 30.

Even with today’s 16 percent surge against the US dollar, technical indicators demonstrate a decent buy signal for ICX, with both exponential and simple moving averages showing a positive short-term trend for ICX. But, with the Relative Strength Index (RSI) at 72 and Williams’ Percent Range at -9, ICX is currently overbought and subsequent to the current strong rally, ICX could suffer a minor drop.

[leetlezee]

I think this is like a comparison of the growth of a company like Google with a new startup. A successful new startup could have growth in the 1000+% region, whereas there is no possible way Google could experience the same rate of growth. However, Google is also more likely to last the next 5 years than the average startup, and I think the same applies to cryptocurrencies. Altcoins or tokens have the opportunity to experience massive growth, but they have a very real risk of falling by the wayside and in fact, we've seen many altcoins and tokens die, and I think many more will die along the road in the next couple of years.

This is not to say that I don't invest in altcoins, in fact, I put most of my effort and money into altcoins, however, I looks for altcoins that have planned out their place in the soon-to-be commonplace world of Crypto, instead of just hopping on the crypto boat because they saw a bunch of pretty girls on the bow--well, maybe just because someone saw $$$$$ to be made.

[googs84]

Off course they are the show stealer because we have nothing left after the bitcoin to invest into! There is huge crowd which love alts more than the BTC and they make this happen. I am not sure about the ICX, BQX etc but I do know that there is almost more than 100 coins which has shown their potential to grow when ever the time is right.

Altcoins are second best choice for the investment and they will always bloom whenever the BTC will start up rising. Most of the people are fond of altcoins so once the BTC rises they know that alts will rise too but in broad sense they invest on them heavily and then they rise. Yes they are real stealer!