Post
Topic
Board Speculation (Altcoins)
Re: Values of Bitcoin & Altcoin are correlated
by
Fritwakky
on 28/10/2020, 21:55:04 UTC
What's your opinion guys?

In spite of the popularity of different altcoins in recent years, people tend to always pick Bitcoin as their safest bet when trading cryptocurrencies. My only problem lies here: Bitcoin pumps, altcoins dump.  Bitcoin dumps, then altcoins would still dump. People usually get scared in both situations and close all their altcoin positions.  That's what has been happening since the inception.

This happens in a short period of time. When the Bitcoin price starts to move quickly - rising or falling - then altcoins always fall as well.
When Bitcoin's price starts to rise steadily, over the long term, altcoins also start to skyrocket and catch up with Bitcoin's trend.