Growth/Losses of All Altcoins Excluding Eth vs. BitcoinHere's a look at major peaks and valleys in Bitcoin and Total3 (total altcoin market excluding Ethereum) starting from the Dec 2017 peak until now. First, a key to follow along:
Key:
- Solid Green/Red Lines = Peaks/Valleys occurring during the same week or day between both markets
- Dotted Green/Red Lines = Peaks/Valleys where dates deviate between the two markets
Traditionally peaks and valleys have happened around the same time, sometimes with minor deviation where altcoin market's peak or valley occurs shortly after Bitcoin's, if not on the same week or day, and altcoins as a whole have typically shown stronger losses than Bitcoin from peak to valley, in the past.
After the 2017/18 peaks, Total3 lost more, in less time, than Bitcoin. It peaked a few weeks later and then bottomed on the same week.
More recently, that deviation has grown in length and changed in scope. Here's how:
March 2020 low through the April/May peak:
--Total3 moved stronger and for longer (by just under a month) than Bitcoin. It typically does move stronger, but moves tend to end nearer to each other than what happened here.
November 2021 ATH to our most recent ATL:
-- Despite many alts having steeper losses than Bitcoin, as a whole Total3 lost approximately 3% less than Bitcoin and its valley occurred 6 weeks after Bitcoin's. In this case, it moved weaker than Bitcoin and has shown the longest deviation in the time it took to do so.
About a month ago, around April 13th, Bitcoin made a new local high. Altcoins haven't yet followed. Interesting, right?
That said, we still don't know for sure whether Bitcoin is headed towards a new peak or a new valley. Let's see how this plays out.
