Decentral Block Post

Altcoins offer diverse, innovative features, promising technological advancements, and potentially lucrative investment opportunities.

Many-a-time specific altcoins post handsome gains that surpass Bitcoin (BTC), popularly known as altcoin season. However, K33 Research analysis shows over the long-term, ‘Bitcoin only’ has been a better investment strategy than an altcoin portfolio.

Altcoin portfolio underperformed Bitcoin over the long run

Bitcoin has had three consecutive bull and bear market cycles, starting in 2013 with the latest one coming in 2021. In each cycle, Bitcoin’s price rose parabolically in a very short span, usually a few months, after surpassing the peak of its previous cycle.

In 2013, BTC peaked around $1,175 and after that followed a downtrend for two years. At the time, the altcoin market was in its nascent stage. The fiat onramps to Bitcoin were limited and exchanges to convert them to altcoins were rare.

However, by the end of 2015, a number of altcoins, including the invention of Ethereum had occurred. A few exchanges had also propped up that supported conversion of Bitcoin to other cryptocurrencies, paving the way for an altcoin market.

Bitcoin (BTC) will unlikely see its first spot price exchange-traded fund (ETF) in the United States soon.

That is the opinion of trading firm QCP Capital, which in its latest market update on June 22 warned over spot ETFs’ prospects.

SEC's Gensler presents Bitcoin ETF roadblock

BTC price action has offered more than 20% gains since BlackRock, the world’s largest asset manager, applied to list a U.S. spot Bitcoin ETF.

This would be the first of its kind, as all such spot ETF applications have been rejected so far by U.S. regulator, the Securities and Exchange Commission (SEC).

While institutional involvement in the Bitcoin space is destined to increase, QCP says, the current makeup of the SEC means that spot ETFs getting the go-ahead remains unlikely.

Bitcoin (BTC) lingered near $30,000 on June 22 as traders sought opportunities to “buy the dip.”

Bitcoin dip-buyers "ready" for $28,000

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD volatility calming overnight after rapid gains.

BTC price performance had wowed the day prior, the largest cryptocurrency returning to the $30,000 mark for the first time since mid-April.

Now, hopes were increasing over a modest correction next, enabling lucrative entry points for further long positions.

“Bitcoin looking at this scenario,” Michaël van de Poppe, founder and CEO of trading firm Eight, told Twitter followers.

Blockchain-based payments firm Ripple has obtained in-principle regulatory approval from Singapore’s financial regulator to offer digital asset payments and token products in the city-state.

Ripple confirmed the approval from the Monetary Authority of Singapore (MAS) in a June 22 statement. The approval will allow its subsidiary — Ripple Markets Asia Pacific — to further scale its On-Demand Liquidity (ODL). The ODL helps Ripple’s customers to move XRP around the world without the banks intervening as intermediaries.

The firm applied for the institutional payment license under Singapore’s Payment Service Act.

Ripple CEO Brad Garlinghouse praised the Singaporean regulator for its “pragmatic, innovation-first approach” to cryptocurrency-related services, adding that the country will provide a “prominent gateway” for Ripple’s business operations in the Asia Pacific region.

Ripple’s chief legal officer, Stu Alderoty also noted that Singapore’s “early leadership” is paving the way for other regulators looking to develop a “clear taxonomy and licensing framework.”