Bitcoin vs Altcoins
What happens to Altcoins when Bitcoin rises?
Usually, when Bitcoin starts to break its resistance level, most of the Altcoin holders will liquidate their position to get back into the king Bitcoin making the altcoin market dip.
It has happened before, and it has been brutal for Altcoin holders.
However, we have had so many new coins this past year with solid projects that most of the coins have not even dropped while others are even moving up
Are we facing a massive adoption for Altcoins?
Its still early to decide, but one thing is certain, Alt market is solid.
Keep an eye on your favorite coin for any dip, and add more to your position but remember to scale in, dont go all-in it might dip further.
That makes sense. I'm still studying the different altcoins out there and trying to decide which one to go for.
Study the company behind it and see if the project is solid. I recommend XRP and TRX.
Thanks for your recommendation. I'll check them out. Which exchanges do you recommend?
The eminence of Bitcoin was more pronounced in the past because it was used as the standard of value for comparison. Generally to purchase altcoins you needed to first buy Bitcoin in order to finance your trading. Nowadays the dollar as become the most important reference value, and it is now easier to finance trading with more exchanges providing the facility for making direct deposits to accounts. All this adds up to a reduction in the relative importance of Bitcoin in the cryptocurrency trading ecosystem.
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