Bitcoin and Altcoin Crashes Correlating Could Be Catalyst for Alt Bottom
Across the crypto market, there’s extreme pain, fear, uncertainty, and doubt. Bitcoin is pulling back from recent highs, and altcoins like , , and others have only bled out and fallen deeper to new lows.
And while most crypto investors believe there is , Bitcoin and alts recently showing correlation again could be the catalyst necessary for alts to finally find their bottom, bounce, and provide crypto investors with the “alt season” the entire market has been waiting for.
Dump Factor: Bitcoin and Altcoins Once Again Show Correlation
At the start of April, an over $1,000 green candle took Bitcoin out of its bear market depths and its never so much as glanced in the rear-view mirror. At that time, the once tightly correlated altcoin market – including , , and others– , and crashed deeper with each rise in Bitcoin price and BTC dominance.
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Much of Bitcoin’s rally may have been driven by crypto investors selling altcoins into Bitcoin fearing missing out on the king of crypto’s next bull run.