How Does Bitcoin Impact Altcoin Prices? Quick History!!

How Does Bitcoin Impact Altcoin Prices? Quick History!!

Back in 2017, bitcoin would go up and altcoins would go up faster. When bitcoin went down, alts went down faster. This was pretty much the rule until bitcoin peaked and for a while after bitcoin went down and alts went up. At this point in 2018, alts acted differently. They started selling off when bitcoin made any sudden moves. When bitcoin jumped alts dropped, when bitcoin dropped suddenly, alts dropped faster. So finally when bitcoin went from $10.5k to $42k, bitcoin moving up caused alts to sell off - without relief. Alts are so oversold that many are trading at their all time lows against bitcoin. With bitcoin consolidating for a few weeks, alts finally started gaining some footing. Now something that we haven’t seen since 2017 is happening. For the first time when bitcoin suddenly plummeted, alts jumped up against bitcoin. This is so unusual. We haven’t seen this behavior since 2017. Is this a fundamental shift or just a one time fluke? Not sure, but alts season is here for sure. For those actively trading this next few weeks will bring a ton of relief to alts and there will be a lot of money to be made. Best of luck in your trading!

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