I have been in the cryptocurrency market for almost two months, I observed that when the market fell, the percentage of BTC always increased. The current percentage of BTC has accounted for more than half of the market. What does this mean? Can anyone give me an explanation, and why is BTC? not another Coin? Because in my opinion, BTC is affected by market volatility more than the Altcoin!
I too doubt about the correctness of this statement. There are many major stock markets available worldwide like NYSE, Dow jones, Nikkei, BSE etc. Which market you are taking as a reference. I too want to see a chart for the same!
What I have seen as a trend, whenever traditional stock goes down, gold price rises! Because big ticket investors usually move their funds to the gold market to safeguard their capital. It doesn't happen every time but yes, most of the times! I doubt bitcoin has been taken over the place from Gold and it is highly unlikely because Bitcoin is so much more volatile than any other traditional asset class!