Top 5 altcoins to buy in February - 2020

Top 5 altcoins to buy in February – 2020

Top 5 altcoins to buy in this month – January was a bullish month for both Bitcoin and Altcoin Market. 10 out of 100 coins by market cap recorded over 100% gain last month. Things are looking positive for the overall cryptocurrency market and Altcoins can continue the upside run in February.

Bitcoin Dominance update

Bitcoin dominance is a key metric to identify trends for Overall ALTCOIN/BTC Market. Altcoin market rise when Bitcoin dominance falls down and vice versa.

Bitcoin dominance is currently trading at 66.65%, It had dropped over 7% last month and looking ready for another brief drop in the next few days. On the daily chart: We can spot a descending triangle formation – which is a bearish formation, and BTC.D could drop by 2-3% from the current level.

BTC.D Update on daily chart — BTC.D Update: Daily

65% should act as the key support for BTC.D which is also major trendline support. I am expecting BTC.D to bounce from this support on the daily timeframe.

Altcoins are retesting range high

A number of altcoins on Binance Exchange has been trading in a six-month-long accumulation range, and recently started breaking out from this range, Few of them: most of the major cap altcoins – Like ADA, EOS, BCHABC had also tested the range high from July month of 2019.

In the last few days, Money is flowing into Midcap and low cap altcoins, they should show a positive price growth for the coming weeks.

Based on the Bitcoin dominance update, and Major cap altcoins reaction last month, We have identified Top 5 altcoins available on binance which can outperform bitcoin this month. All these altcoins can give you an average return of 30-40% in this month. You can check them out below.