With so much negativity suddenly in the crypto market following increased regulatory concerns surrounding Bitcoin, Facebook Libra, and the rest of the asset class, the sell pressure and fear has caused altcoins to capitulate and even Bitcoin to begin to crash.
Altcoins are not only dropping to new lows in USD value, but their BTC ratios are at extreme lows. So low, that it if these ratios were maintained all the way to the top of the next Bitcoin bull run, even $100K BTC wouldn’t let most altcoins reach a new all-time high in USD value
If Altcoins Maintain BTC Ratio, $100K Bitcoin Won’t Take Them to New ATH
At the start of 2019, altcoins had outperformed Bitcoin, with many doubling in value in USD and in BTC ratio. Litecoin is a great example of this, and it stopped its rally after a 600% increase.