PakGazette – The price of the leading cryptocurrency (BTC) marked a new all-time high during today’s trading session. Thus, after having soared more than 2% from the opening price, a new all-time high for BTC was set at $108,353, according to Binance. Now the quotes of the leading cryptocurrency have cooled and retreated below the new precious mark, but believing that this is the final stop seems hasty, given the performance of Bitcoin in recent weeks.
Interestingly, while BTC is rising, the rest of the cryptocurrency market is in the red and many of the alternative cryptocurrencies are suffering double-digit percentage drops as the day progresses. However, given the trends of this cycle, there are two altcoins that will likely follow Bitcoin in the near future.
We are talking about and (DOGE). Since November 4, when BTC last traded below $70,000 and began its epic six-figure rise, the prices of XRP and DOGE have subsequently skyrocketed by 467% and 232%, respectively. This has made these alternative cryptocurrencies market leaders, even though the market capitalization figures are already “high.”
At the same time, (ETH) and (SOL) have seen their prices rise by around 70% each over the same period, which is a lot but also disproportionately small compared to DOGE and XRP.
Whether Dogecoin and XRP continue to “catch up” with Bitcoin with their all-time high updates each week and this time is an open question. However, we can assume that these will be the first options for market participants to make investment decisions when the BTC rally stops.
