THELOGICALINDIAN - Bitcoin has been demography the advance over the absolute bazaar today with the cryptocurrencys amount ambulatory accomplished 20240 bygone and seeing emblematic assets today while altcoins mostly stagnate
Where it trends in the mid-term will assuredly depend abundantly on whether or not it can advance its present strength, as any “blow-off top” could prove to be acute for its amount action.
One banker believes that the cryptocurrency’s near-term trend will administer that of altcoins, acquainted that a amount bead apparent by BTC could absolutely be advantageous for altcoins.
Bitcoin Rally Sucks the Oxygen Out of the Room
At the time of writing, Bitcoin is trading up over 8% at its accepted amount of $23,150. This marks a massive billow from its contempo lows of $17,600 set aloof a few canicule ago.
The affairs burden apparent at $20,000 was significant, but the apple-pie breach aloft accustomed BTC to access what appears to be amount analysis mode.
Altcoins accept stagnated mostly, seeing assets that are able-bodied beneath those apparent by the criterion crypto.
Altcoins May Soon See a Flood of Capital
One banker explained in a contempo tweet that altcoins are acceptable to see a massive basic flood anon as investors circle out of Bitcoin.
He acicular to Ethereum’s 8% billow apparent in the time anon afterwards Bitcoin ailing at highs of $23,700, saying:
If this trend persists, again Bitcoin amount declines could absolutely become bullish catalysts for altcoins in the near-term.
