Bitcoin climbed 11 percent into Friday to post its highest price since mid-December: one coin was worth $16,920, cross-exchange data shows.
Exchanges tracked by Coinmarketcap recorded an average trade price maximum of just under $17,000 earlier Friday before a slight correction saw Bitcoin head back towards $16,000.
The performance is encouraging for holders who have watched profits ebb as altcoin markets continue to surge. The trend marks a pause after several weeks of bearish action for BTC, which did not immediately correct following its dip from $20,000 to around $13,000 last month.
On social media, casual traders were eyeing Bitcoin’s reversal to continue, noting its impact on altcoin markets.
I was surprised to see altcoins holding their value against bitcoin's rally today. Personally I'm still licking my wounds from the summer when I was holding all altcoins during the bitcoin cash fork. Since then I make sure to have a few bitcoins and big volume altcoins.
I'm still a little gun shy right now about picking up altcoins because I have a feeling we are going to see bitcoin pass $20K USD very soon.
When I got into Bitcoin (around $250), anytime the price of Bitcoin would surge, the altcoin market would tank. That period was a very volatile market for altcoins... But as of the last year or so, quite a phenomenon has occurred where even the price of Bitcoin has surged, the altcoin market has somewhat stayed stable. I think this is due to more and more altcoins carrying their own weight as far as proving that they are coins with actual substance, such as ETH, Dark, XMR, XRB, Ripple (ewww I know)... Coins like DOGE and LTC... I'm not sure what they're doing still hanging on, but I will say that even when BTC prices surpass the $20k mark, the dominant altcoins should fare okay. Don't be too gunshy about pulling the trigger. I've done great with hodling altcoins, and just as with BTC, you can't get discouraged everytime there is a dip or correction in the market!
