Ethereum, altcoins risk more downside than Bitcoin if BTC losses $30K, warns analyst
So believes Filbfilb, an independent market analyst and co-founder of Decentrader trading suite.
When Bitcoin consolidated between $50,000 and $60,000 in the March-May period, altcoins exploded.
Filbfilb noted that altcoins have been facing a so-called “catchup risk,” hinting that even a small downside shift in the Bitcoin market could move altcoins twice lower.
For instance, Ether , the second-largest cryptocurrency, dropped by a little over 60% from its mid-April peak of $4,384.
So it seems, altcoins provided better profit-taking opportunities to their holders than Bitcoin did.