@vladolad
Altcoins Significantly Outperform in Later Half of the Cycle
In both major cycles, altcoins significantly outperformed Bitcoin after an initial phase where their returns were comparable. This trend reflects investors' increased risk appetite and how reflexive the alts market can be with increased risk capital. In the second half of the 2015-2017 cycle, alts returned 344x versus BTC’s 26x. Similarly, in the second half of the 2019-2021 cycle, alts returned 16x versus BTC’s 5x. We are about halfway through the current cycle post-FTX, with alts slightly lagging behind BTC. This trend suggests a potential altcoin outperformance in the second half.
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