Following on from the recent price pump, optimism has returned to the markets. And once again, price is at the forefront of everyone’s mind. In consideration of this, Civic CEO, Vinny Lingham raised a pertinent point on the validity of altcoin prices. In his tweet, he states that price increases should come from improvements at the fundamental level. But instead, the close relationship between Bitcoin and altcoin prices distorts this underlying truth.
This means that as the Bitcoin price rises, so does the price of other crypto’s, irrespective of value. This is a key point – Bitcoin could double overnight, but does this mean other assets should too, even if nothing has changed on their end in term of development, network etc?
— Vinny Lingham (@VinnyLingham) April 10, 2019
The Correlation Between Bitcoin and Altcoins
The central premise for Lingham’s argument relates to Bitcoin being the main cryptocurrency. And as Bitcoin is the most…
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