Sorry, Bitcoin, Altcoins Start Grabbing the Spotlight in Mainstream Media

Source: Adobe / Dusan Zidar

Bitcoin (BTC) prices have made headlines in mainstream media lately, with the token moving towards the $ 20,000 mark. However, as altcoins also rise, some major conventional media are now helping millions of their readers find altcoins that surpassed BTC.

In about 1,000 words report Bloomberg with the name “Beyond Bitcoin: These cryptocurrencies make it even better” delved deep into the world of altcoins and commented that tokens like Ethereum (ETH) RippleXRP, Litecoin (LTC), are currently giving “the world’s most famous digital currency a run for its money”.

The journalist Edward Robinson wrote that some “cryptocurrencies publish even gaudier numbers than the forerunner of digital money”.

He selected ETH as the “long-time favorite of technology freaks”, with XRP being described as a “lightning rod for crypto critics”.

However, the media warned that “crypto veterans” claimed that the rush to buy up altcoins equated to “betting based on little more than market dynamics,” which could be an “unwise” decision.

Robinson wrote:

“While many of these cryptocurrencies rose right next to Bitcoin in 2017, they also crashed when Bitcoin collapsed in 2018 and stalled in a time known as the crypto winter. Now they seem to be following the same pattern again. “

And Robinson added a “Guide to the Most Valuable Alternatives to Bitcoin in the Crypto Universe,” re-naming ETH and XRP, as well as LTC, adding:

“A new generation of digital assets climbing the rankings will be more influenced by the design of Ethereum than that of Bitcoin. Three of the outstanding features are Chainlink (LINK), Cardano (ADA) and Polkadot (DOT). “

Altcoins have also hit a peak on Google Trends lately, an indication that not only mainstream journalists may have developed an interest in ETH, XRP, and the rest of the lately.

Meanwhile, CNN followed a very similar course in one items with the name “Forget Bitcoin. These cryptocurrencies are increasing even more. “
CNN Business writer Paul R. La Monica also wrote about XRP and also reviewed litecoin, polkadot, cardano and stellar (XLM).

La Monica stated:

“These smaller coins are, to some extent, part of the hype that set Bitcoin to a new record. Bitcoin has benefited from a weaker dollar and expects an extended period of extremely low interest rates to ultimately lead to inflation. This increases the attractiveness of a digital currency. “

And in a bullish rally that altcoin cheerleaders will be delighted with, he added:

“A lot of cryptocurrencies have done well lately, some of them are still well below their highs – unlike Bitcoin. So you may have more space to catch up. “

Meanwhile, earlier this year, big crypto exchanges Coinbase Although most users initially prefer BTC, the vast majority also trade in altcoins and other digital assets: “For customers with at least five purchases, 60% start with Bitcoin, but only 24% stick with BTC exclusively.”

At the time of writing (08:58 UTC), BTC is trading at USD 19,402 and will remain unchanged for one day. In a week it increases by 15%. The price is up 42% in a month and 165% in a year.
Learn more:
Coin Race: Top Winner / Loser of November; XRP steals Bitcoin the month
Institutional Bitcoin investors Hodl as S&P DJI opens new Crypto Bridge
Crypto in 2021: Institutions prefer Bitcoin, retailers open to Altcoins
In 2021, Bitcoin hits USD 25,000, Ether – USD 900 – median pre-rally estimates

(This article was updated at 10:05 UTC to add the results of an investigation by Coinbase.)