In the beginning, there was only Bitcoin. Then Charlie Lee came along and said he could create a better type of payment crypto and that’s when we saw the creation of Litecoin.
Since those early days, 1000s of coins have been created and they’re all referenced to the ‘mother coin’-Bitcoin.
These are known as ‘alternative coins’ or Alts. Yet Bitcoin still defines the crypto space.
When we discuss the Market, we are likely referring to the market value of Bitcoin and not the overall total market cap of Crypto.
The problem with this normal market talk is that a Bitcoin focus can result in you missing the market moving. One thing to remember is that if the market is positives — the Alts will move first.
If we look back at the first quarter of 2019, the market was flat as a result of Bitcoin not moving.
Yet, for those who were observant, Litecoin was rocketing.
However, it was not big enough to move the Bitcoin dominated market. This was the indication people should have needed to buy, buy, buy.
In the second quarter, Ethereum and other Alts started to grow fast and then Bitcoin followed, with the total market booming 300% in 10 weeks!
Already in 2020, the Crypto market has rocked, up 40%+. Bitcoin is up 41% with Litecoin and Ethereum up 90%.
The Alts are leading the market which makes for exciting times ahead!
(Psssst tell everyone now)!