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October 30, 2015, 06:52:08 PM |
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I was around for BTC's big run up to $1100+ and I remember the alts of the day (LTC, NMC, PPC, etc) actually increasing in price (*/BTC) at the same time. With BTC's current run, today's alts seem to be dropping in price (*/BTC). Has anyone else noticed this change in price behavior? Altcoins certainly operate within a BTC economy with everything priced in BTC so I'm surprised to see them moving in opposite directions. If you hold MAID for example, why would you trade it for BTC when the BTC/USD price increases?
Could this be due to people pulling money out of alts in order to buy into leveraged BTC positions which were not available during the last big BTC run-up? If so, should we expect the price of alts to "normalize" once BTC levels off?
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