Cryptocurrency

This 3 Altcoins to beat BTC

In the last two months, we saw a significant decline in Bitcoin’s dominance. While the value on the 15. May was 69,60%, it declined until yesterday, Sunday at around 62,60 percent. So that means that a lot of Altcoins are performing better than BTC. However, in view of the over 5000 Altcoins, the question of which Coins should outperform exactly is Bitcoin, of course. The wingspan ranges from the well-known Alts like Ethereum and up to the new Top performers à la Chainlink.

In this article we want to take a look at an analysis of the company Santiment and look at why you think that Ethereum (ETH), Chainlink (LINK) and Ren (REN) Bitcoin could be beat.

Santiment underlines the sense of Altcoin-Season

First of all, it is in the presented report, the company Santiment a so-called short-term outlook. So that means that all of the statements refer to a short-term period. And for this short period, the analyst firm now sees, in particular, the Altcoins ETH, Link and REN on the Front line.

The report begins with a brief summary of the Situation. During the Bitcoin exchange rate stands largely still in the price range of 9,000 – 9,500 K$, can list many Altcoins strong growth. The greatest potential Santiment here at Chainlink (LINK).

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Chainlink as the winner in front of Ethereum and REN

Santiment uses in the presented report, 3 indicators for the evaluation of the current Situation of the Altcoins. Chainlink looks here in the first place. In addition to the positive indicators, the company certifies to the on the Ethereum Blockchain-based tokens, a bullishes Signal by the use in the context of China’s national Blockchain Service network (BSN).

After this message the 8. July was made public, showed the LINK rates strong growth. We look briefly at the Chart:

We can see from the 30 day Chart, that the rate of Chainlink from the Beginning, around 4 USD has risen to currently be$ 6. This LINK is one of the greatest performers of the last 30 days.

Ethereum and REN are more Kanditation

In addition, the company says that you will see Ethereum and REN as a further candidate for Outperformance. As already mentioned, 3 indicators were considered for this purpose. What to put behind it, let’s look at now. Then, we consider, of course, the values for each of the Altcoins.

NVT, DAA, and Sentiment Volume Consumed as indicators

The first examined the indicator of the Network Value to Transactions Ratio (NVT) is. This is a metric that sets the volume of transactions divided by the number of outstanding Coins/tokens in proportion to market capitalization. This is done over a certain period of time. In our case, this is the 3-day average.

The second indicator is the Daily Active Addresses in relation to the price divergence are. Just the price is said here in relation to the number of active addresses set. Proximity information can be found here. The third Parameter is called Sentiment Volume Consumed. This is the measured “mood” (engl. sentiment) on Twitter.

Now let’s look at the valuation for Bitcoin, Ethereum, LINK and REN. The company awarded for each indicator, a numerical value of 0-10, which varies between a maximum of bearish (0) and a maximum of bullish (10).

LINK Ethereum, and Bitcoin: The results

We start at the Platzhirsch Bitcoin. BTC received for the indicator NVT only a value of 2. The DAA value was 5 and the value for Sentiment Volume Consumed at 6.5. Thus, a total value of 4.5, what is seen of Santiment as a neutral assessment results.

Ethereum itself receives 5 points for NVT, 8 points in the case of DAA and 7.5 in the SVC. Thus, a total value of 6.8. Santiment rating this with bullish. Ethereum received the second-best overall value to the Chainlink.

LINK even got 9 points in the area of NVT. 5.5 points were awarded for DAA and 7 points in SVC. Thus, a value of 7.2 is obtained.

REN received 8 points in the case of NVT, 7.5 in the case of DAA and only 3.5 in the case of SVC. This results in a total value of 6.3, which is, in total, still bullish.

Conclusion: short-term Outperformance is possible

From the Report of Santiment shows that the 3 crypto-currencies offer Ethereum, Chainlink, and Ren, the short-term potential, the Top crypto-currency Bitcoin outzuperformen. It is understood, however, that these Figures give only a short-term Outlook and, therefore, no long-term trade recommendation represent.

For those who speculate, however, in the short term, and/or trade can arise as a result of such an analysis, a Chance. In the case of an Outperformance of Altcoins/Bitcoin is the number of BTC, for example, increase. If you’re still in search of a suitable trading platform, we can recommend eToro as a winner of our exchange comparison.

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You act with Ethereum, LINK or Ren? – How do you see their short-term potential?

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The comments in this article do not represent any trading recommendations or investment advice.

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.

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