After going near $20,000 and then falling to $6,000, Bitcoin has proven its volatility which is why more and more people are wondering about its future. On top of that, there are people who ask themselves about the possibility of other cryptocurrencies sinking along with Bitcoin. Currently, Ethereum and Ripple are in the focus as the second and third largest ones on the market.
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However…
The price of the cryptocurrencies is based on the free market which means that it will correct itself, but we have seen some currencies like Ethereum and Ripple that have shown progress even when Bitcoin was going down.
So, what will happen to the other cryptocurrencies?
There is no sure and correct answer to this question because it is same as any other prediction. If bitcoin price drops a lot, this can mean that other major alternatives have posted gains against the largest cryptocurrency which is BTC.
They can do it together or separately. This happens when investors lose their faith in BTC and are shifting to another cryptocurrency which is the next best after bitcoin. But if the bitcoin price doesn’t go up soon, we can expect some permanent changes and alternative coins will try to take over BTC. So that means that these cryptocurrencies can increase if the leading cryptocurrency plummets. But to other altcoins, this could mean losing a great deal of their value. If you want to find out more about cryptocurrencies make sure you check this website here od DC FORECASTS SITE
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