Post
Topic
Board Trading Discussion
Re: Bitcoin up altcoin dump
by
buwaytress
on 01/06/2017, 10:19:15 UTC

You noticed that during the last sharp rise in bitcoin prices, the situation was different. Alternative coins grew with bitcoin. I was alarmed by this fact

I didn't pay much attention to most of the alts during the past 2 weeks (or rather, a week from the middle of May) but I also noticed Doge bucking this trend. It had always more or less kept trajectory with BTC in terms of fiat value, but while BTC was climbing to new ATHs, Doge was not only doing the same, but increasing in BTC value as well. I am now finding out that many alts rose in values greater than that of Bitcoin (percentage-wise).

I have theories but no evidence about why this is happening. Influx of new crypto users is the only reasonably sound answer, I'd say.