If we look at the history of the performance of bitcoin in the market, then we can form a pattern that bitcoin does not generate impressive results in June and July. The month of August is mildly sour for the bitcoin market. On the contrary, months such as March, September, and October have yielded good results for bitcoins, and they have also been successful in achieving a hundred percent hike. June seems to generate a rough environment for the bitcoin, and the chances are as high as 75% that the same trend will be observed in July. And such predictions are made by many investors and Bitcoin traders.
But the investors and traders are happy with the performance that is been showcased by bitcoin over the years; however, the performance of bitcoin today is still 60% below its peak performance. Bitcoin’s peak record has been nearly $2000, and currently, it is far from this mark. On the other hand, bitcoin may soon experience some outstanding performance in the near future. It will primarily be due to the rise of other cryptocurrencies. It is expected that some cryptocurrencies are on the verge of getting closer to their previous ceiling records. So, here is a list of cryptocurrencies that may soon overtake bitcoin and may probably de-throne it.
- Binance (abbreviated as BNB): – This cryptocurrency reached its peak value two weeks back, on the 25th May 2019. It reached to a level of $ 35.43 that day, and today, the trading performed through BNB is $30.5, which is nearly 13.5 percent below the peak value.
- Ravencoin (abbreviated as RVN): – Witnessed for the first time in March 2018, RVN reached its first peak value of $ 0.7890 on the 3rd June 2019. The trading of this cryptocurrency is done at $ 0.06214 compared to the 23.59 Territory Sales Incharges and is 21.6 percent below its peak value.
- ChainLink (abbreviated as LINK): – Was launched in September 2017, and has reached the historic peak value of $20000 on the 8th January 2019, with almost all cryptocurrencies reaching to their respective highs. LINK has now been seen as a very tough competition for Bitcoin. The rate on that day was $ 1.45, and at present, the crypto is at $ 1.11, that is nearly 23.6 percent lagging from its peak value.
- Bitcoin Cash Fork (or the Bitcoin SV): – This is the crypto that stands closest to Bitcoin. At present, this crypto trading happens at $ 183 which is 26.4 percent lower than its $248 peak value.
- Holo (abbreviated as HOT): – Launched in May 2018, makes the top mark in this list. This cryptocurrency reached its first historic milestone on May 29, 2019, at $ 0.00254. HOT, 26.6% low than its peak value, $ 0.00185 is changing hands.
According to trader Josh Rager, Bitcoin may probably continue the same trend for now, but if the currency fails to reach $8,000, then we can assume that the digital currency would fail to make it to the future.