If you have been following the cryptocurrency market, you might have noticed by now that every time Bitcoin’s price goes down, alternative cryptocurrency prices (commonly called altcoins) follow. The opposite is equally true – when the price of bitcoin rallies, we expect altcoins to go up in price shortly after .
Read moreDoes Bitcoin halving affect altcoins?
Bitcoin halving has no real effect on the Bitcoins as such . Investors and traders get access to the very same Bitcoins through the exchanges and apps that they use. So, if you already own Bitcoins, they are all safe and secure in their wallets.
Read moreWhy are altcoins correlated with Bitcoin?
Altcoins, which represent alternative virtual currencies to BitCoin, compete as a medium of exchange in the same market segment for being accepted as a universal currency . Trade-offs between the use of BitCoin versus altcoins may lead to interdependencies between BitCoin and altcoin markets.
Read moreWhat is a crypto bear market?
Bear markets are prolonged periods of price drops . While they can be stressful, they are also part of investment cycles. It’s important not to panic and to focus on your long-term investment goals.
Read moreHow does market cap affect coin price?
Why is market cap important? Price is just one way to measure a cryptocurrency’s value. Investors use market cap to tell a more complete story and compare value across cryptocurrencies . As a key statistic, it can indicate the growth potential of a cryptocurrency and whether it is safe to buy, compared to others.
Read moreHow is market cap of a coin calculated?
Market Capitalization is one way to rank the relative size of a cryptocurrency. It’s calculated by multiplying the Price by the Circulating Supply. Market Cap = Price X Circulating Supply .
Read moreWhat happens to altcoins if Bitcoin goes up?
Altcoins usually pull back during a Bitcoin bull run . It is only after big brother Bitcoin has stabilized and completed its rally that an altcoin uptrend kicks in. Some deductions have been made by market analysts over time; however, they remain speculative.
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