After Bitcoin's Surge, Eyes Shift to Altcoins

Zaye Capital Markets reported that as Bitcoin reaches record highs, investors are closely monitoring alternative cryptocurrencies or altcoins. Zaye analyst Naeem Aslam noted that for many retail traders, altcoins represent "a much better risk-reward ratio" since many cannot afford to buy a whole Bitcoin and it is unlikely that the cryptocurrency will double their money so quickly. Aslam argued that for some investors, the only option is to take on more risk by purchasing altcoins, which are "speculative assets with little or no fundamentals behind them." Bitcoin is currently trading at $90,685, having reached a high of $93,480 yesterday, setting a new record. Over the past month, Bitcoin has risen by 29.7% and by 116.25% since the beginning of the year.