A Look At the Performance of the Top Cryptocurrencies In the First-Half of 2020

[KenCryptos]

The first of 2020 has been roller-coaster ride for Bitcoin and the overall cryptocurrency market. The outbreak of the Coronavirus pandemic world-wide has the dynamics of global economics as well as for the crypto markets.

Besides, we also have some important events from the crypto space like the Bitcoin halving in May 2020 and the accelerated development of ETH 2.0. Let’s take a look into the performance of Bitcoin and other top-five altcoins in the crypto market.

Bitcoin Performance in First-Half of 2020

2020 started on a pretty good note for the Bitcoin investors as the BTC price appreciated over 40% just in the first 45 days of the year. Bitcoin went all the way from $7000 to over $10,000 by mid-February.

However, Bitcoin couldn’t cross its major resistance at $10,500 levels and soon after the outbreak of COVID-19, BTC price plunged more than 50% from its 2020-high to go below $5000 levels just in a month’s time by mid-March 2020.

If we look at the BTC year-to-date chart, BTC’s performance has been very similar to the traditional stock markets. BTC’s price collapse is in tune with the global market collapse in March 2020. Thus, Bitcoin failed to live to its image of being the ‘Digital Gold’ and a safe haven for traditional market investors.

On the other hand, the price of physical Gold continued to rise with the global markets plunging. Soon after this price crash, Bitcoin investors yet again started accumulating the world’s largest cryptocurrency.

But investors’ hopes remain up and alive for the Bitcoin halving event in May 2020. Investors once again started accumulating BTC and BTC price started. Just before the scheduled Bitcoin halving data of May 11, BTC price touched $10,000 surging 100% from its 2020-low.

Pots the Bitcoin halving, Bitcoin price has remained volatile moving back-and-forth in the range of $8800 (support) and $10,500 (resistance).

If we compare the year-to-date graphs for Bitcoin and the overall cryptocurrency market, they are largely identical showing that BTC still decides the over crypto market momentum single-handedly.

Currently, BTC is trading at 30% year-to-date premium around $9200 levels.

A Look At the Altcoin Performance

The world’s second largest cryptocurrency and the most popular altcoin - Ethereum - has remained on investors’ radar for 2020. The Ethereum community has been eagerly waiting for the launch of Ethereum 2.0.

As Ethereum prepares to move from the PoW to the more efficient PoS consensus model, investors are accumulating ETH to participate in the staking process in Ethereum 2.0. In ETH 2.0 investors need to have a minimum of 32 ETH to participate in staking.

Of lately, developments with respect to ETH 2.0 have been in an accelerated mode. Last week, blockchain engineering firm ConsenSys announced its Codefi staking platform to offer institutional-grade, exchanges, and wallets, its ETH 2.0 staking as a service.

Ethereum has been one of the best performing altcoin trading at 80% premium year-to-date. At press time, Ethereum is trading at $228 with a market cap of $25 billion.

Stablecoin Tether (USDT) has managed to climb up the ranks and is currently the third-largest cryptocurrency by market cap. Thanks to the poor performance of other altcoins like XRP, Bitcoin Cash (BCH), and Litecoin (LTC).

One altcoin which has turned very popular and given massive returns is Chainlink (LINK). The price of LINK cryptocurrency has surged over 3000% year-to-date. Chainlink is an oracle service provider which helps to transfer off chain data to other blockchain networks. Recently, Chainlink partnered with China’s Blockchain Services Network (BSN) to transfer real-word data using the interchain service hub IRITA.

Source: https://www.worldcoinindex.com/news/a-look-at-the-performance-of-the-top-cryptocurrencies-in-the-first-half-of-2020

[tabas]

I think it's inappropriate to include stable coins like USDT for the half-years performance of altcoins. We know that they are stable and even if they make a significant volume that wouldn't matter as they remain volatile free.
There's more room for bitcoin as usual and also to Ethereum. It's exciting to see how huge it will increase when the pos transition's done.

[Lanatsa]

I think it's inappropriate to include stable coins like USDT for the half-years performance of altcoins. We know that they are stable and even if they make a significant volume that wouldn't matter as they remain volatile free.
There's more room for bitcoin as usual and also to Ethereum. It's exciting to see how huge it will increase when the pos transition's done.

Its no surprising that stable coins shouldnt really be on the list nor do put up some emphasis since we do know that this one wont really move out on such high percentage.

Yeah, theres always a volume yet we know that there are lots of fellas in the community dealing up with stable coins not on investment matters but its used to save their

asses when theres high volatility in the market. When talking about performance then this market neither in bitcoin or alts would always be having that bumpy ride.

[kotajikikox]

I think it's inappropriate to include stable coins like USDT for the half-years performance of altcoins. We know that they are stable and even if they make a significant volume that wouldn't matter as they remain volatile free.
There's more room for bitcoin as usual and also to Ethereum. It's exciting to see how huge it will increase when the pos transition's done.

same sentiment here because i don't think Stable coin really need to be added as a top ranking currency in crypto because this is not even part of crypto for me.
I don't know what Op's basis in this list but for me this is not really appropriate lists.


I rather put the set of my own folio instead of those on the OP.

[jacafbiz]

People should not get carried away with the recent hype around the DEFI and the Robinhood investors plus the tik-tok hype around Altcoins recently, there could be more drama coming out of the year 2020 so do not get carried away, just invest in the right projects and not hype

[kingzpro]

For some people it is already bull market especially those who got the chance to enter btc around 3k mark and ethereum under 100 those are the people that have already made 2 to 3x in a matter of months but longterm holders or the large number of investors that entered around last time peak are still waiting for prices to really surge and break previous highs so that they can take some profit. I think market will take some time but eventually big bull cycle will be here so the patience will really pay off.

[Febo]

I think it's inappropriate to include stable coins like USDT for the half-years performance of altcoins.

When comparing marketcap of top coins a lot is like comparing apples with oranges.  
You can compare:
1. PoW coins that are not bitcoin blockchain forks and have no premine or instamine or dev tax.
2. bitcoin blockchain forks
3. PoW coins that have premine or instamine or dev tax.
4. tokens
5. stablecoins
6. ...


I am sure there are more categories.

[GreatArkansas]

For some people it is already bull market especially those who got the chance to enter btc around 3k mark and ethereum under 100 those are the people that have already made 2 to 3x in a matter of months but longterm holders or the large number of investors that entered around last time peak are still waiting for prices to really surge and break previous highs so that they can take some profit. I think market will take some time but eventually big bull cycle will be here so the patience will really pay off.

For me, a new big bull cycle once we are close to the all-time-high price, $15,000 above.
We are still almost 50% before the all-time-high of Bitcoin and we still got multiple rejections in $10,000 these past few months.
For me, those people only bought around $3,000 was just buying the dips, and it's worth it, then they must be rewarded then for that 2x or 3x.

[Pegiz]

Yes, now we are half way to the historical maximum, but it seems to me that Bitcoin will not cross the 10K mark and all these predictions will turn out to be unrealistic.

[glowing10]

Yes, now we are half way to the historical maximum, but it seems to me that Bitcoin will not cross the 10K mark and all these predictions will turn out to be unrealistic.

Bitcoin has already crossed the levels of 11100$ and had also touched 12000$ mark and came back again to 11k range. Though it was a very short time before the pullback came from 12k price. But still the second half of the year has started well and we can expect some fireworks in this half atleast.

[Eddyc]

In my opinion, there was a stagnation and it was only recently that the market started to show some appreciation. Therefore, I don't need to mention the events of the world to explain the reasons for the stagnation, but we are starting August and we have 4 months for the market to have a readjustment and a great appreciation.

[inanilujimi]

this is a fact, if we do not have a strong mentality it will be easily swayed and suffer losses if entered in a state not ready.
and we will see this year whether we can make history in the midst of a cryptocurrency price pandemic especially bitcon whether it can touch the new ATH or not.

[optimisticcm]

All top coins are doing good and it is really thrilling to see market moving. I would love to see bitcoin and ethereum both breaking their previous all time high prices by the end of this year so that next year stage would be set for new massive peak.