Since Bitcoin Halving, the cryptocurrency market has experienced significant fluctuations. While the approval of applications for Spot Bitcoin ETF briefly lifted Bitcoin to new all-time highs, it has since retraced below $60,000, with Ethereum struggling to breach the $3,200 resistance level. However, Bitcoin's performance has created opportunities for altcoins to gain traction. But are altcoins truly viable alternatives?

Bitcoin vs. Altcoins

Bitcoin pioneered decentralized digital currency, aiming to enhance financial inclusion by eliminating intermediaries. It has established itself as the most prominent cryptocurrency globally, synonymous with the term "crypto." Additionally, Bitcoin's store of value feature, coupled with its limited supply and scarcity, has bolstered its value.

On the other hand, altcoins present compelling arguments. They offer the potential for higher returns on investment, exemplified by tokens like MAGA VP, which saw a 300% increase in April alone. The prevailing altseason has attracted traders seeking to diversify their portfolios amid increased interest in cryptocurrencies spurred by Bitcoin ETFs and halving events.

Moreover, altcoins provide opportunities for utility beyond Bitcoin's limited scope. While Bitcoin boasts a significantly higher market cap compared to altcoins, the growing trend of portfolio diversification suggests that this gap may narrow over time as more investors explore alternative assets.

In conclusion, both Bitcoin and altcoins have their advantages and disadvantages, and the decision ultimately hinges on a trader's risk tolerance and research. It's crucial to conduct thorough due diligence and risk assessment before allocating funds to either Bitcoin or altcoins.