How are crypto traders dealing with the latest Bitcoin drop?

26 Mar, 2019
by Alberto Arnaldo
Trading
How are crypto traders dealing with the latest Bitcoin drop?

With Bitcoin falling close to 2% today, many traders and crypto commenters are surprised regarding the lack of a more visible contagion effect to altcoins.

Partly due to their smaller market capitalization, altcoins tend to experiment higher volatility than Bitcoin which translates into more pronounced losses amid downtrends such as the one we are currently into, with Bitcoin having lost the range of $4,000.

However, projects such as XRP and Ethereum are not losing any more ground than Bitcoin itself, others such as EOS are actually increasing their ratios as it currently sits close to 0% regarding price movements, and there are even some winners amid the red such as Chainlink (LINK) and Basic Attention Token (BAT), up about 3% each at writing time.

Crypto Twitter has taken upon the task of deciphering this rather uncommon price action mechanic, and there are already some theories which seem worth mentioning.

The endurance shown by the ratios and prices of these projects is being interpreted by some as a prelude of the continuation of the previous bullish trend, which failed to raise Bitcoin over $4,200, or global market cap significantly above $140 billion.@TheCryptoDog had this to say on that line:

Optimism towards the projects which are being spared from the losses appears to be a recurring thought as well, in this case expressed by @CryptoDonAlt:

However, there is also an interesting alternative explanation for the trend, which involves the activity of trading bots:

Read more: Maximine Coin (MXM) pumps over 30%; These are the 3 coins to watch for Q2 2019 - Cryptocurrency

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