There has been a holy war raging over Bitcoin for years now: BTC vs. altcoins. A leading analyst recently came out to issue his thoughts on the debate.<\/p>\n
Since 2017’s crypto-mania, there has been a mass hubbub about altcoins. You see, during the previous bull cycle, cryptocurrencies that were not BTC saw massive gains against both Bitcoin and the U.S. dollar. Ethereum<\/a>, for instance, moved higher by over 100x within a 15-month period, rallying from single digits to effectively $1,400 by early-2018. This trend resulted in Bitcoin dominance \u2014 the metric used to define how much of the cryptocurrency market’s value is derived from BTC only \u2014 fall from well above 90% to 33%. At the time, many altcoin traders were yelling from the rooftops that the king was dead and the era of altcoins was upon this nascent market.<\/p>\n But, Willy Woo, a leading on-chain analyst and a partner at Murad Mahmudov’s Adaptive Capital, has argued that investing in altcoins may actually not be as wise as some shills say.<\/p>\n In a recent tweet,<\/a> he said that altcoins are “highly correlated to Bitcoin<\/a>“, and thus don’t act as portfolio diversifiers. Instead, cryptocurrencies “only increase portfolio risk”, Woo explained.<\/p>\n …and for the record, alt-coins are highly correlated to BTCUSD. Buying alts in an attempt to diversify only increases portfolio risk. This is why I am not a fan of alt-coin index baskets. https:\/\/t.co\/y6HNIziZAR<\/a><\/p>\n — Willy Woo (@woonomic) September 21, 2019<\/a><\/p><\/blockquote>\n\n