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- Solana outperformed major cryptocurrencies in 2023
- Bitcoin gained over +64%
- Cryptocurrency market bulls would possibly deal with different major 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 consider that extra upside is feasible.
A fast take a look at the main cryptocurrencies and the way they carried out in 2023 reveals one thing attention-grabbing. That is, three cryptocurrencies lag behind Bitcoin’s rally, that means that there could be some momentum left in the race to meet up with Bitcoin.
TradingView ranks the highest 10 cryptocurrencies, as seen under. 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 would possibly meet up with Bitcoin
Surprisingly, Bitcoin will not be the cryptocurrency that carried out probably the most in 2023. Solana is, up +67.12% YTD.
One state of affairs transferring ahead is that if Bitcoin provides up a few of its 2023 beneficial properties, it’ll drag the opposite cryptocurrencies down. But these nonetheless believing in the Bullish potential of this market would possibly see issues otherwise.
In explicit, the final three cryptocurrencies in the highest 10 have loads of room to meet up with Bitcoin. For instance, Dogecoin is up solely +13.29% in 2023. Also, Polygon gained +28.54%, whereas BNB delivered a +34.71% YTD.
Sure sufficient, these are all gorgeous performances for such a brief interval. But Bitcoin gained +64.64% over the identical interval, so there’s nonetheless a possible for some catch-up to do.
Overall, the lagging cryptocurrencies look engaging right here for traders believing that the bullish rally nonetheless has some legs. As such, avoiding Bitcoin would possibly make sense till the hole shrinks.
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