In times of volatility and uncertainty, investors tend to favor one particular crypto that has high liquidity and is stable. At the current time, Bitcoin price trend still dominates the market trend.
However, Bitcoin leading position seems to be doubtable as Altcoins have recorded a stronger rise recently and the market is less affected by Bitcoin. Instead of following the general price trend of bitcoin, many cryptocurrencies also start to follow their own trajectory.
This week, the altcoin works much better than both Bitcoin and Ethereum. The added value of the ERC20 tokens and the increasing demand for small cryptocurrencies of investors in the global market has proved that Crypto investors are more confident in betting their money on this market.
Saxo Investment Bank from Danish, with its aim to focus on online trading and investment, has announced in a recent report that the capital inflows from organizations to the Crypto market will lead to a rise in prices for most of these currencies.
Altcoins are far away from dominating the crypto market. Probably they will dominate in future but I can't see any such sign as of now. Bitcoin volume accounts for 38% of the total crypto volume and hence it has the controlling power in hand. Majority of the altcoins are available to trade with bitcoin and ETH only so when we account for their price we do it on the basis of bitcoin and ETH price. That is the reason why their prices go down when BTC and ETH prices go down and vice verse.
However, if you have monitored the market very closely, you must have seen that there are few altcoins which kept their prices increasing when the bitcoin price was going down. Like Tron, OmniseGo etc. That is mainly because of the speculator's choice, the similar way Gold price increases when the stock market decreases. But none of them have the controlling power as on date.
