It’s Bitcoins World — We’re All Just Living in It.
Let’s get right to it — as of right now, it’s a Bitcoin market and whatever else we invest, well you might as well just call it Bitcoin B-Class. Everyone is still riding high on the success of alt-coins, trying to convince one another that the coin they invested in is the best.
Problem is, every coin was the best for the past year and that’s because Bitcoin has gone straight up and it brought everyone along for the ride.
Here are some charts comparing Bitcoin, Litecoin, Ethereum, and Ripple over 24 hours, 5 days, 1 month, and 3 months. You can insert pretty much any coin in here and you’ll see similar results. Those being — whatever bitcoin does, the others follow suit.
Chart Index
Bitcoin (Black) Ethereum (Purple) Litecoin (Orange) Ripple (Blue)
Well, what do you see? A whole lot of the same.
How does this trend change and how do these assets separate themselves from Bitcoin’s large gravitational pull?
Short answer: they don’t.
(Well, at least not all the way. The stocks in the market always slightly mirror the DOW, NASDAQ, and S&P)
Actual answer: more pairings from exchanges, make it easier for consumers to convert fiat to a wider range of cryptocurrencies. Simple as that.
Until then, this is a Bitcoin market and when Bitcoin is up it’s all rainbows and butterflies, but when it’s down it’s an inevitable bubble that’s going to pop.
Either way, let’s push for more pairings and allow this market to grow the right way.
