- It could be “do or die” for altcoins as Bitcoin continue capturing serious dominance over the aggregated crypto market
- Bulls have been focusing their attention fully on BTC, which has caused many altcoins to plunge throughout the past few days and weeks
- Ethereum has been a leading indicator of the state of the <span class="wpg-tooltip-term-title">Altcoin</span></h3><div class="wpg-tooltip-content">Altcoin is defined as any cryptocurrency except for Bitcoin. “Altcoin” is a combination of two words: “alternative Bitcoin” or “alternative coin”. There are over 1,500 altcoins with many more planned for release.<p class="wpg-read-more"><a href="https://www.newsbtc.com/dictionary/altcoin/">» Read more</a><p></div>”>altcoin market, and the fact that it is still trading down 20% from its yearly highs despite Bitcoin setting fresh 2020 today is a grim sign
- That being said, if Ethereum can rebound in the near-term, it could catalyze some serious momentum that sends altcoins rocketing higher
Ethereum has been acting as a leading indicator for the <span class="wpg-tooltip-term-title">Altcoin</span></h3><div class="wpg-tooltip-content">Altcoin is defined as any cryptocurrency except for Bitcoin. “Altcoin” is a combination of two words: “alternative Bitcoin” or “alternative coin”. There are over 1,500 altcoins with many more planned for release.<p class="wpg-read-more"><a href="https://www.newsbtc.com/dictionary/altcoin/">» Read more</a><p></div>”>altcoin market, and it has not been able to match the strength expressed by Bitcoin as of late.
This has proven to be highly bearish for many altcoins, with many drifting lower despite Bitcoin rallying past its previous 2020 highs.
One analyst is now noting that Bitcoin’s dominance versus that of altcoins shows just how pivotal of a point the <span class="wpg-tooltip-term-title">Altcoin</span></h3><div class="wpg-tooltip-content">Altcoin is defined as any cryptocurrency except for Bitcoin. “Altcoin” is a combination of two words: “alternative Bitcoin” or “alternative coin”. There are over 1,500 altcoins with many more planned for release.<p class="wpg-read-more"><a href="https://www.newsbtc.com/dictionary/altcoin/">» Read more</a><p></div>”>altcoin market is at.
