Bitcoin has been having a strong year so far, despite the recent volatility, which saw the leading cryptocurrency rise from around $8,500 to nearly $14,000 this month. This is great performance keeping in mind how BTC was trading around $3,500 in December last year.
Typically when Bitcoin surges like this, altcoins or alternate cryptocurrencies are quick to follow, but this time might be different if veteran trader Peter Brandt is to be believed.
In his most recent Tweet, he cited the original dotcom bubble and reminded everyone how once the dust settled, only companies with real value exploded while others sunk into oblivion. He believes the latter fate awaits most altcoins, and that may not be far from the truth.
