Altcoins
Why Altcoin prices were falling this week
In the crypto world, very often when the leader goes in a particular direction, the followers copy the movement. With the price decline of its leader in recent times, the values of many altcoins have also headed south in recent days.
Many altcoins were down noticeably since the start of the week as of Friday morning, some at double-digit percentage rates. According to data compiled by S&P Global Market Intelligencefor example, coin Shiba Inu (CRYPTO:SHIB) was down almost 9% and Coat (CRYPTO:MNT) was floating down 10%. Doing a little better but still in the red, Toncoin (CRYPTO: TON), with a relatively modest decline of 0.4%.
The market leader I’m talking about is, of course, Bitcoin. On Monday, the price of the flagship cryptocurrency began to decline and the next day it fell below $60,000. As of this writing, it’s still there, although the price has improved at least slightly. Whenever Bitcoin moves above or below a convenient round number like $60,000, altcoin investors tend to buy or sell these assets, depending on which direction they are moving. journey.
Source Imbecile.com