Bitcoin is at its highest level in nearly three years, and a new all-time high is approaching.
The bull market is just beginning, and smart money continues to pile in.
Bitcoin is at center stage. But if history repeats itself, another group of cryptocurrencies has the most to gain.
Altcoins Are Positioned to Climb Dramatically Again
During bitcoin’s historic 1,300% rise in 2017, crypto investors were in “fear of missing out” mode.
With bitcoin’s price in the thousands, investors began buying up other cryptocurrencies in search of huge gains.
Cryptos other than bitcoin skyrocketed, sending the Exante Altcoin Cryptocurrency Index 16,200% higher in less than a year.
Investing in bitcoin could have made you a fortune. But investing in these altcoins could’ve made you 12 times richer.
Altcoins (Blue) vs. Bitcoin (Red)
As the crypto bull market unfolds, it looks like altcoins are positioned to climb dramatically again.
And this time, there is more interest than ever before.
The Smart Money Is Betting on Crypto
Institutions are putting their money into the crypto market. According to Fidelity, 36% of institutions in the U.S. and Europe are invested in cryptocurrencies.
To put this into perspective, institutional ownership currently accounts for 80% of global stocks, amounting to $75 trillion.
If even 2% of these assets are allocated to cryptos, the crypto market would add $1.5 trillion and triple in size.
This scenario is more likely than not. With global bond yields near zero or even negative, institutions have to invest their money somewhere to meet their required gain objectives.
Choosing the Right Altcoins Isn’t Easy
Bitcoin has historically been the investment of choice for institutions and makes up 65% of the entire crypto market.
But recent developments in the crypto market are changing the landscape. I expect the value of other cryptos to quickly converge toward bitcoin.
With 7,700 cryptocurrencies in the world, though, choosing the right ones isn’t easy.
Fortunately, Ian King’s Crypto Profit Trader research service helps Main Street investors learn how to identify and invest in the exponential growth in the crypto markets.
Analyst, Automatic Fortunes