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Last week, altcoins were more profitable than bitcoins. Bitcoin gained only 14% to $18.600, while Ethereum rose by 31% to $594. The most profitable cryptocurrency was XRP, which skyrocketed by 86% to $0.50. The BTC lost its share in the digital money market. Last week, the share of bitcoin was more than 68%, and now it is 62.8%.
The same situation was observed in 2017 when bitcoin rose in price first, and then other altcoins did the same. Analysts said this is natural. They are confident that it is dangerous to buy bitcoin when its price rises greatly, because at any moment a correctional process may begin. In this regard, investors are switching to cheaper assets thus contributing to their growth.
Experts have noticed that digital currencies are growing consistently. Bitcoin is the first, then, Litecoin, Ethereum, and XRP. Analysts believe that once reliable coins reach certain heights, less popular coins will also begin to grow.
The altcoin market is likely to be volatile, and then impulsive growth may begin. The correction in the altcoins market will begin after bitcoin's correction. However, this does not mean that the market will start a bearish trend.
Analysts say altcoins will push the BTC price higher. They recommend buying altcoins now. Bitcoin may hit a new record soon. It means that other coins will advance too. Experts advise buying ethereum, lightcoin, EOS, NEO, and VET.
Moreover, the head of the Binance crypto exchange Changpeng Zhao stated that the digital money market could grow by 1,000 times.
Meanwhile, on Tuesday, EOS climbed by 10.58% to $3,4274. This is the sharpest daily rise. Currently, EOS is still below 85.08% of its $22.98 peak which was reached on April 29, 2018.
At the same time, Bitcoin fell by 0.32% to $18,348.1. Ethereum gained 8.70% to trade at $606.95.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
