The altcoins market has seen substantial growth in 2020

For those who trade cryptocurrencies frequently, the year 2020 has offered multiple earning opportunities. Since the beginning of the year, the altcoins market has seen substantial increases, but also sharp decreases.

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1 The Altcoins Market registered substantial increases – Pay attention to the correction!

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Altcoins thus remain riskier and much more volatile compared to Bitcoin (BTC). If the price of Bitcoin increased from $ 7,000 in January to over $ 10,000, some top cryptocurrencies far outperformed it.

If a trader had allocated $ 1,000 in altcoins on January 1, 2020, the average winnings of the first 20 coins were 43%. The growth average may not be impressive, but some of the cryptocurrencies have made significant gains.

The best developments in the crypto space this year registered Bitcoin SV (BSV) with 274% gains; Tezos (XTZ) with 222%, Chainlink (LINK) with 234% and Dash (DASH) with 254%.

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The average profit of these four assets is close to 246%, significantly higher compared to the top 20 total of cryptocurrencies. However, there is a caveat – these assets are viewed with some skepticism, especially in the case of BSV.

However, if the $ 1,000 were evenly divided between these four assets, the final result would be $ 2,460 in a month.

Of course, altcoins prices fluctuate massively and down – for example, BSV dropped from $ 350 to $ 250 in a week, before returning to the current price of $ 320. Similarly, Tezos (XTZ) fluctuated from $ 3.5 to $ 2.5 in the same range, before returning to $ 3.25 at present.

This means that a trader looking to make the most of profits must carefully monitor the market, in order to take advantage of the perfect times to sell and buy altcoins.

The Altcoins Market registered substantial increases – Pay attention to the correction!

Among the first 20 cryptocurrencies, earnings were on average 185% and almost any asset rose above the minimum values. Currently, altcoins have made significant gains, but a 60% correction is also quite possible.

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Altcoins can make significantly higher profits compared to BTC. But, most of the time, the liquidity of their market diminishes in a few days. The selection of cryptocurrencies to invest in is a matter of personal preference, without a clear way to predict which asset will have a positive evolution.