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Bitcoin Cash, Litecoin, Ripple (XRP) 2020 Price Performance Superb but Nowhere Close to Their All-Time Highs

Bitcoin Cash, BSV, Litecoin, Bitcoin, Ripple Price action

Bitcoin Cash (BCH), Litecoin, EOS, and Ripple (XRP) are performing superbly, registering double digit gains in the last 7 trading days but are on average 60% down from their all-time highs. Notably, these coins have a bit of history and have been around for the past several years. Litecoin and XRP are at least 5 years old with Charlie Lee launching LTC in 2011 while Ripple began operations in 2012. However, the idea had stuck around for quite sometimes being floated first in 2004.

60% Drop from All-Time Highs

Aside from history, this week’s super rally could be the beginning of an encouraging return to former glories. Despite yesterday’s stir and resuscitation of what had appeared to be stagnant price action, XRP, LTC, BCH and EOS are trading still down a ball-park 60% from their previous all-time highs registered during the great ICO-mania which pumped prices to new highs.

Nostalgically, BTC rose to $20,000 before the bubble was popped after the CFTC whilst working with several US agencies including the SEC gave the green lights the launch of the first Bitcoin derivatives product, the Bitcoin Futures.

At $330 for BCH, $57 for LTC, $0.23 for XRP and $8,600 for BTC, these coins pale in comparison to what they registered in late Dec 2017 when they soared to $3,800, $310, $3.5 and $20,000, respectively.

Because of yesterday’s gains and revival of the crypto market, an observer now says all coins, even with decent gains in the

past 24 hours are shit coins and a savvy investor should angle to buy Bitcoin at spot levels.

Bitcoin Price Marked by a series of Boom and Busts

Expectedly, for his comments, it was enough to spur discourse. It drew different supporters of individual projects and those who were practical enough to note the same characteristic in Bitcoin.

In the first half decade of Bitcoin, the coin prices experienced a series of boom and busts. The recent being 2017-2018 cycle that saw prices soar before collapsing, crushing investors.

“This is not a legitimate argument crypto is antifragile if you see the price of bitcoin you will see Bitcoin did the same exact thing during the developmental stage of its growth.”

Another observer chimed in:

“They have different risks associated with them. XRP went from $.005 to $3.50 in about the same time BTC went from $1,000 to $20,000. LTC went from $4 to $310. ETH + others have similar stories. If underperforming BTC = Shitcoin, Outperforming = what?”

The post Bitcoin Cash, Litecoin, Ripple (XRP) 2020 Price Performance Superb but Nowhere Close to Their All-Time Highs appeared first on Coingape.



Source: Bitcoin Cash, Litecoin, Ripple (XRP) 2020 Price Performance Superb but Nowhere Close to Their All-Time Highs

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