Michael Novogratz: season altcoins will not be as profitable as it used to

Over the past six weeks, the index of dominance of a Bitcoin has increased from 53 to 60 percent. Those who allocated most of their portfolio under altcoins suffered quite serious losses even with the rise in price of BTC. While the cryptocurrency is in the focus of attention of all players of the stock market, so other coins there are no significant capital inflows.

We will remind, the share of Bitcoin has reached 60 per cent on 13 may.

A former Goldman Sachs financier Mike Novogratz believes that this situation should not expect too much of x from the upcoming season altcoins. He does not expect a repeat scenario of 2017, when a cryptocurrency is more expensive in tens times, even in relation to Bitcoin. His view is contrary to previously announced forecast of the chief analyst Fundstrat Tom Lee, who previously reported the high potential of the marketand not only BTC.

Why you need to invest only in Bitcoin

Towards a new global uptrend the stock market managed to go through several important stages of development, so now it is much more “Mature” than before. Large investors will not use the same tactics several bullish cycles.

In other words, investing money in Bitcoin is more profitable and secure than investing in altcoins. Even with large capitalization.

However, not all cryptomnesia share the opinion of the Novogratz. Recently, Bitcoin analyst under the name Jack posted an interesting chart with the ratio of capitalization of the market for Bitcoin. According to him, soon we will witness quite major of the season altcoins.

By the way, the research Department Binance also supports this idea.

At the moment, the index of dominance of Bitcoin is 56.5 per cent, and the cryptocurrency is trading at $ 7824. Tuned to the market situation follow our cryptodata.


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