Bitcoin (BTC), the Only Factor for Variations in its Peer Coins Network; Yes-No-Maybe ?

Bitcoin (BTC), the market leader of all times has all the properties of what a forerunner holds viz., investor-focused, having the largest market share, a leader, etc. But is it doing complete justice by being an influencer for its followers just as the market leader creates an aura of itself?

The question in the subject is highly volatile since nothing can be predicted on point about Bitcoin, crypto market and its peer coins.

Coinmarketcap chartAs per the data above by Coinmarketcap on 22nd April at 7:08 UTC time, the top 10 coins of the crypto market are featured with an astonishing dwindle in their stats of the market space. What do we see? Bitcoin and the other top 10 currencies other than Binance Coin and Tether are all having a declining change in the last 24 hours.

However, it is inevitable to note that all the coins have their own individuality and the gap between the prices of the market leader and the rest is ice breaking. Although, the changes can be due to the market and its constituents performances that may lead to the floating or fixed vested interest of the potential investors.

Undoubtedly, all the coins are in a race for standing together at a position where the leader stands. But not everyone can swim.

It is contemplated from the weekly graph of the 10 coins highlighted above that though having a regular pump and dump going on in the market the scale speaks a lot about each of their movements and the correspondence.

No matter what the fall maybe but there are many intimations that the investors should hold on to their investments in Bitcoin and other coins irrelevant of what the market indicates now. Nothing as of now can be claimed about the accumulated fall of these coins and their dependence on each other since the market space is incalculable.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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