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Altcoins Are on the Rise after Bitcoin’s Boost

5 January 2021, 15:01
Votes: 1

The start of 2021 was marked by important cryptocurrency news – Bitcoin’s rise up to $34 000. However, not only the most popular digital currency in the world but also its alternatives are gradually straining after a breakthrough this year.

Altcoins Are on the Rise after Bitcoin’s Boost

While experts were discussing the BTC’s future price and various outcomes of its spike, the interest in other cryptocurrencies increased as well.

Ethereum, Ripple, and Litecoin grow with BTC  

Such altcoins as Ripple, Ethereum, and Litecoin also used a chance to show their demand, following BTC’s example. Ethereum, for example, reached a 1000-dollar price hitting its 2018’s record. The increase in value by thirty percent became a remarkable event for those who were trading this crypto cash.

XRP, in its turn, was also growing in value on Monday. The digital asset was up by seven percent during the period of twenty-four hours. Recent complaints connected with Ripple’s unregistered securities, however, had a negative impact on its reputation. Even Litecoin showed a ten-percent increase reaching the cost of $155.

It isn’t the first case when altcoins’ price spikes together with Bitcoin. Usually, when the primary cryptocurrency shows growth signs, its alternatives follow this tendency as well. Any upsurge draws crypto investors’ interest, and they begin to see the potential in the majority of digital assets.

Read more: Review of Bitcoin price in 2020

Read more: Predictions about Ethereum price


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