Once dominant Bitcoin continues to see its value
fall as altcoins keep rising.
Not exact matches
Cryptocurrencies hastened their decline on Thursday, with the total market cap
falling to its lowest level in over a week
as bitcoin and the major
altcoins...
Ethereum drifted higher in early trading today, retaining its relative strength among
altcoins, but the coin
fell back below the $ 750 later on
as the broad selling pressure affected the coin.
A look at the top ten cryptocurrencies by market cap provides for lackluster reading,
altcoins broadly
falling 50 % further in the past 24 hours than Bitcoin's 4.55 %, while BCH
fell twice
as far (9.55 %).
Bitcoin Cash (BCH) declined sharply on Monday,
falling in lockstep with other
altcoins as bitcoin extended its dominant grip on the market.
Ethereum is the only
altcoin in top 10 by capitalization that
fell only 2 %
as the market is still quite optimistic about the future of the ecosystem
as its co-founder Vitalik Buterin announced that the «part one» of Ethereum's Sharding roadmap is nearly done.
Bitcoin has
fallen 65 percent from its all - time high at the time of publishing - still better than some of the other top ten
altcoins, such
as Cardano, for example, which is down 88 percent from its all time high.
The forecast comes
as Bitcoin's hold on the market
fell dramatically this week after Bitcoin Cash controversially surged in value and
altcoins saw massive price gains.
Bitcoin has
fallen from above $ 11k to around $ 8k while
altcoins have bled even worse
as Bitcoin dominance rises.
As Cointelegraph reported last
fall, the problem with diversifying a cryptocurrency portfolio is the fact that most
altcoins follow whatever trend that Bitcoin sets.
When bitcoin starts a bull run, many of the
altcoins fall,
as investors jump on the Bitcoin train and vice versa.
Altcoins The
fall of Bitconnect was
as certain
as night follows day.