We provide evidence on the asymmetric impact of Bitcoin on altcoins both in the short-run and in the long-run. In the short-run, a decrease in Bitcoin price has greater effect than an increase on the prices of altcoins . This asymmetry is more frequent after the 2017 cryptocurrency price crash.
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.
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