Cryptocurrencies
Crypto Traders Fighting for the Next Hot Coin Watch Correlations
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Bitcoin’s leadership over other cryptocurrencies ebbs and flows -- an unnerving factor for traders trying to score with the next hot digital coin.
Investors saw this last year when Bitcoin’s 1,400 percent surge dominated headlines, yet smaller peers such as Ripple and Stellar far outperformed the world’s biggest cryptocurrency. When Bitcoin rallied, its tight correlation with rivals broke down, according to a Bloomberg analysis. On the contrary, when it tumbled, the so-called alternative coins dropped in step in a synchronous way, regardless of their individual merits.