As a leader, Bitcoin (BTC) is the only crypto that drives the market during bear and bull periods. In the collapses of Terra and FTX, which appeared in May and then in November, its alternatives also had a chance to stand out. Analysts at the financial firm Fool are taking this opportunity to consider two altcoin projects that are poised to close the gap with Bitcoin.
Finance experts suggest two altcoins to snatch Bitcoin’s share
While the BTC price fell by over 15% over the past November, Litecoin and Dash were the cryptos that were on the rise in the meantime. LTC price gained around 8% during this period. At one point it managed to carry over 20% of its weekly earnings. Similarly, the DASH price manages to find new buyers in the midst of sales. The common feature of these two cryptocurrencies is to be an alternative to Bitcoin’s technology. Litecoin is one of the older cryptocurrencies that was launched just two years after Bitcoin. Its purpose is to provide faster, more affordable payments than Bitcoin.
Litecoin later saw the Dash token released as a more advanced version of itself. Just as Litecoin was separated from Bitcoin, in Dash, Litecoin was forked. Both cryptocurrencies mainly focus on fast and low-cost payments. The expectations of Fool analysts from these altcoin projects are based on the upcoming halving dates.
The halving has historically served as the catalyst for the crypto market. This event tends to show its effect usually 12 to 15 months in advance. The cryptocurrency community is currently waiting for Litecoin’s halving in July 2023 as its next date. This date will appear with the halving in March 2024 for Bitcoin. Dash’s halving event is scheduled for May 2023.
Litecoin and Dash prioritize moves with earlier halving date
Considering the dates above, it’s pretty easy to understand why LTC and DASH are moving away from Bitcoin. It also calls for a similar fate in Dash, as Litecoin reacts with over 50% pricing on the upcoming date. Fool analysts suggest that we can see the activity in Litecoin rallying before the halving on the Dash chart. DASH is currently trading at $47.15, up 6% from the last 24 hours. Priced over 30% since late November.
How long will this rally last?
The cryptocurrency market has already started talking about the “pre-halving rally”. Since the date for the Bitcoin halving stretches back to 2024, it will likely remain in the spotlight until its own events in Litecoin and Dash. Therefore, Litecoin and Dash have some time to outperform Bitcoin. But that’s still a hype that will last until May 2023 at most. When Dash completes its halving in May 2023, all eyes will be on the Bitcoin halving in March 2024. As Kriptokoin.com, we have mentioned the researches of Fool analysts on institutional money in this article.
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