However, until cryptocurrency as a whole becomes more established, it seems likely that the Bitcoin price will have a significant impact on your other cryptocurrency investments.Ĭlick the link to learn how Bitllion can help your business get started with cryptocurrency and blockchain technology.In the dynamic world of cryptocurrencies, everyone is on the lookout for the next big crypto coin that could offer a 1000x return.Īs we dig deeper into 2023, the quest for the most promising crypto intensifies, with investors keenly analyzing market trends and potential breakthroughs. Interest in how altcoins could improve on Bitcoin is growing. What’s more, Bitcoin’s overall share of the cryptocurrency market is much lower than in previous years, and it continues to drop.įollowing the hype which surrounded Bitcoin’s rise to $19,000, people are starting to see more flaws with the original cryptocurrency, such as the high fees and a slow network. There are more signs of secondary markets, allowing you to buy altcoins without Bitcoin appearing. There are signs that the correlation between Bitcoin and altcoins may diminish further. Will the correlation between Bitcoin and altcoins fade further? Altcoins tend to recover quicker though, so this provides an opportunity for huge profits if you play the market right. Due to poor liquidity, panic selling happens faster and hits investors harder.
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