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.
Read moreDoes BTC affect other coins?
In the digital currency space, it’s common for many coins and tokens to move in similar patterns. When bitcoin (BTC), the largest cryptocurrency by market cap, goes up, other digital tokens tend to increase in value as well. When BTC declines, it’s likely that other players in the space will drop at the same time.
Read moreWhy do altcoins go down when Bitcoin goes down?
When the Bitcoin price falls or rises against the USD, all the altcoins will usually follow. This is because all altcoin prices are based on their Bitcoin exchange rate, not their USD exchange rate . They don’t always move together though. Sometimes you see Bitcoin drop when the altcoins rise.
Read moreAre altcoins linked to Bitcoin?
The term “altcoin” is shorthand for “alternative coins” and simply means cryptocurrencies other than Bitcoin . After Bitcoin, the nine most popular cryptocurrencies are as follows: Ethereum. XRP.
Read moreHow does Bitcoin price affect altcoins?
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 moreWhy do altcoins rise when Bitcoin drops?
Sometimes you see Bitcoin drop when the altcoins rise. This is caused by investors pulling their money out of Bitcoin and rushing into rising altcoins . This wave can go back and forth over a short period of time.
Read moreWill altcoins follow Bitcoin?
Because Bitcoin remains the principal cryptocurrency, other major altcoins such as Litecoin do tend to follow its price trends . Litecoin’s creator, as well as other adherents, have referred to Litecoin as the silver to Bitcoin’s gold.
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