Are Altcoins Really Beating Bitcoin? This Test Says No

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A comparative analysis finds that altcoins’ apparent outperformance of Bitcoin often disappears once returns are adjusted for risk, liquidity, volatility, and the specific measurement period. While individual tokens may post larger gains during speculative rallies, Bitcoin has generally delivered stronger risk-adjusted performance and greater resilience. The implication is that investors should distinguish headline returns from sustainable, risk-adjusted outperformance before reallocating from Bitcoin into altcoins.

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