Post
Topic
Board Altcoin Discussion
Re: Bitcoins rise affect on Altcoins.
by
Shallow
on 20/12/2020, 14:08:04 UTC
Have some doubt on it,
When Bitcoin rises, other coins fall because people are selling their alt coins to go into Bitcoin?


Bitcoin is the king, Bitcoin is the highest valuable coin in the crypto space hence the reason it is attracting almost all the attention coming into this space, well you can't blame anyone, because they all want to associate themselves with the best. Also, the dominance of Bitcoin is very high nowadays, thus confirming the fact that, a lot of attention is placed on it which comes as a result of people selling their altcoins to be able to gain with Bitcoin, it also comes as a result of institutional investors going huge on Bitcoin. But however, we can't fail to point out that, certain altcoins are not being affected too much, altcoins like Ethereum are still growing with Bitcoin and even though the growth is not massive like that of Bitcoin but Ethereum investors are making their gains. So, what I think is, Bitcoin rise is affecting altcoins, but where the effect is huge on others causing them to dump, on the other hand, the effect is not too much on some altcoins thus giving them room to grow.