As the world flips and turns upside down amidst the corona catastrophe, even the good old gold the ultimate safe haven is faltering. While In the eyes of many, the digital currency was meant for a time like this, altcoins especially are staring at further sell-off given the risks and lack of desire to adopt them right now.

Bitcoin dominance is growing and has gone past the 65% mark, and such captivating numbers usually lead to further sell-off of altcoins. The <a href="https://etherscan.io/address/0x3f5ce5fbfe3e9af3971dd833d26ba9b5c936f0be#analytics">ethereum wallet balance of Binance</a> has declined substantially. This kind of trend was experienced in the bear trends of September 2019-December 2019, and late 2018 amidst the bear market.

The shutting off of large sections of the economy would lead to further misery for startups across the globe. The crypto industry compromises mostly of the big guns, while they might find a way to weather the storm, the upcoming development projects will take the worst-hit financially.

The world is facing war-like scenario according to the president of US, Donald Trump, who has issued a National Guard in 3 US states which further highlights the living abyss the world is experiencing.
<h2>It Can't Get Worse For Altcoins, or Can it?</h2>
Altcoins currently has a market cap of $53 billion, and it won't be surprising to see it hit the $45 billion mark if the plight gets prolonged. The lack of liquidity the exchanges can offer right now would be another severe brunt altcoins would have to persist with.

Then social distancing, interaction and intervention have been cut off massively, which has contributed to the <a href="https://www.cryptoknowmics.com/news/coronavirus-hits-bitcoin-hard-causing-economic-slowdown-in-india/">downfall and the economy</a> is on its last pins, and it's not just the altcoins that are suffering. While in the times of despair, blockchain can provide a ray of hope, the odds to adopt, apply it right now are slim to none.

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 	<li><a href="https://www.cryptoknowmics.com/news/bitcoin-vs-altcoins-which-will-generate-a-higher-roi-on-your-investment/">Bitcoin vs Altcoins: Which will generate a higher ROI on your investment</a></li>
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Altcoins Facing The Heat, Fearing Massive Sell-Off

With the economic crisis showing no signs of slowing down, altcoins currently are finding it hard to escape the the massive breakdown that's beckoning.

Zain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.

Altcoins Facing The Heat, Fearing Massive Sell-Off

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