Bitcoin has repeatedly set new highs this year but still cannot break the $100,000 mark, and this has persisted for a considerable amount of time; recently, the market has started to shift towards altcoins, and many mid-cap coins that existed before the last bull market have seen exaggerated gains. However, for long-term holders, this may not necessarily mean profits, as most coins have not surpassed their historical highs.
Taking the top 20 cryptocurrencies by market capitalization as an example, only 6 of them are expected to break their all-time highs in 2024 along with Bitcoin, of which two, TON and SUI, are emerging coins. Other major coins are still more than a 'year' away from their historical peaks; for example, Ethereum (ETH) is three years away from its high. XRP, which has risen over 400% in the past 30 days, is also far from its historical peak, which was reached 7 years ago.
These old coins that have surged significantly, while glamorous, may still be on the road to breakeven for some long-term investors.
In this article, only six out of the top 20 cryptocurrencies have broken their previous highs this year; BNB and TRX only broke their historical highs in December, as first reported by Chain News ABMedia.
