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Solana outperformed main cryptocurrencies in 2023
Bitcoin gained over +64%
Cryptocurrency market bulls may deal with different main cryptocurrencies till the hole with Bitcoin shrinks
Cryptocurrencies began 2023 with a bid tone. The bullish momentum continues into the 4th month of the yr, as traders nonetheless imagine that extra upside is feasible.
A fast have a look at the main cryptocurrencies and the way they carried out in 2023 reveals one thing fascinating. That’s, three cryptocurrencies lag behind Bitcoin’s rally, that means that there is likely to be some momentum left within the race to meet up with Bitcoin.
TradingView ranks the highest 10 cryptocurrencies, as seen beneath. If we exclude Tether and the USD Coin and deal with the opposite, we discover that Doge, Polygon, and BNB have underperformed in 2023.
Doge, Polygon, and BNB may meet up with Bitcoin
Surprisingly, Bitcoin just isn’t the cryptocurrency that carried out probably the most in 2023. Solana is, up +67.12% YTD.
Bitcoin chart by TradingView
One situation transferring ahead is that if Bitcoin offers up a few of its 2023 positive aspects, it should drag the opposite cryptocurrencies down. However these nonetheless believing within the Bullish potential of this market may see issues otherwise.
Particularly, the final three cryptocurrencies within the high 10 have a whole lot of room to meet up with Bitcoin. For instance, Dogecoin is up solely +13.29% in 2023. Additionally, Polygon gained +28.54%, whereas BNB delivered a +34.71% YTD.
Certain sufficient, these are all gorgeous performances for such a brief interval. However Bitcoin gained +64.64% over the identical interval, so there may be nonetheless a possible for some catch-up to do.
General, the lagging cryptocurrencies look engaging right here for traders believing that the bullish rally nonetheless has some legs. As such, avoiding Bitcoin may make sense till the hole shrinks.
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