In the past 24 hours, the Bitcoin price has remained stable above the $4,020 mark, unable to break out above a key resistance level at $4,200. Meanwhile, a handful of crypto assets and tokens recorded gains in the range of 5 to 30 percent.
The Bitcoin price continues to range-trade around the $4,000 mark. | Source: CoinMarketCap
Polymath, the best performing crypto asset on the day, recorded a 31 percent gain against the U.S. dollar, with most of the volume coming from Upbit, a major cryptocurrency exchange in South Korea.
As seen in the chart of Polymath below, most alternative cryptocurrencies and tokens remain down about 90 percent down from their all-time highs and are not near towards entering a proper accumulation phase.
Polymath, which declined 90 percent from its all-time high, is now trending back up. | Source: CoinMarketCap
But, if Bitcoin continues to show a sideways price movement in the foreseeable future above the critical $4,000 mark, some traders see crypto tokens continuing to demonstrate substantial gains.
Will Crypto Assets Outperform Bitcoin in the Coming Weeks?
In recent months, several cryptocurrencies in the likes of Cardano, Litecoin, and Binance Coin, along with small tokens, have outperformed Bitcoin by large margins.