A number of altcoins have done quite well in the last one year, top among which are exchange tokens, some of which have returned over 7 times their initial prices in 2019 alone.
One such token is Binance Coin which has emerged as the only coin that surpassed Bitcoin’s price index in the last year according to CoinMetrics data tracking report.
The report covers 9 cryptocurrencies which CoinMetrics has tracked for the last one year, including Ethereum, Litecoin, XRP, Bitcoin Cash, EOS, Zcash, Monero, Stellar, Tron, Bitcoin Cash SV and Binance Coin.
Bitcoin has maintained price Increase for a year
CoinMetrics ranked the 9 cryptocurrencies based on their percentage price change over a one-year period. Based on the data, Bitcoin is the only one that did not record a negative change in price apart from BNB which gained 44%. BTC has stayed at exactly 0% with no gain or loss.
The highest loser happened to be Stellar which recorded -81% followed by privacy coin Zcash followed with -80% and did not record any gain during the period. The next is Bitcoin Cash which lost 68% of its price, Ethereum lost 63%, EOS lost 54%, Tron -49%, Monero -45%, XRP -44%, Litecoin -20% and Bitcoin Cash SV -15%.
What’s next?
Bitcoin has maintained its price index for a year, which is pretty remarkable considering the bumpy 2018 market. What matters now is what lies ahead both in the short and long term.
The crypto community is anticipating a bull market as 2019 raised the hope of such a market coming when Bitcoin price rose from $4,000 to $14,000 in less than 6 months.
There has been a delay in the possible bull market recently and the top cryptocurrency is experiencing a slight pullback. The top cryptocurrency has dipped to $10,600, losing 6.39% in the last 24 hours.
It is not certain how long the pullback will last but analysts are still positive that a positive move is coming on the way especially as the Bitcoin halving approaches in 2020.