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 moreWill altcoins rise with Bitcoin?
Short answer. Not often . Bitcoin rarely gets boosted by altcoins.
Read moreWhat does Bitcoin dominance mean?
Bitcoin dominance is the ratio between the market capitalization of Bitcoin to the total market cap of the entire cryptocurrency market . When we compare this ratio to the trend of Bitcoin itself, we can learn more about what opportunities the current market environment offers.
Read moreWhat is TOTAL2?
TOTAL2 shows total market capitalization of the top-125 cryptocurrencies, excluding BTC . OTHERS shows total market capitalization of the top-125 cryptocurrencies, excluding BTC and some other top cryptocurrencies.
Read moreWhat is market dominance in crypto?
Therefore, the Bitcoin dominance is described as the ratio between the market cap of Bitcoin to the rest of the cryptocurrency markets . For many years, while Bitcoin was far and away the largest cryptocurrency – and one of the few in existence – its dominance was much closer to 100% than it is today.
Read moreHow does BTC dominance work?
Therefore, the Bitcoin dominance is described as the ratio between the market cap of Bitcoin to the rest of the cryptocurrency markets . For many years, while Bitcoin was far and away the largest cryptocurrency – and one of the few in existence – its dominance was much closer to 100% than it is today.
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