Right here’s why IOST, Horizen (ZEN) and Avalanche (AVAX) surged as Bitcoin crashed

Bitcoin’s (BTC) current plunge may have been triggered attributable to profit-booking by institutional traders, in accordance with a report by crypto fund supervisor CoinShares. The report famous a pointy drop in institutional inflows throughout the first week of the brand new 12 months and weekly outflows from a number of crypto funding merchandise.

Crypto market information day by day view. Supply: Coin360

Whereas the current 28% decline might have scared some new traders, Bitcoin HODLers have been seemingly unfazed as they’ve encountered six larger corrections throughout Bitcoin’s huge bull run in 2017. Due to this fact, describing a 20% fall as a bear market might not apply to cryptocurrencies.

As Bitcoin makes an attempt to stage a restoration, let’s analyze three altcoins that will outperform within the brief time period.