Foreign Investors goes for Ether, Monero, Litecoin Instead of Bitcoin

With the exception of some timeframes, Bitcoin price is usually stable and significantly less volatile in comparison to other digital currencies. At a market cap close to $20 bln, the volatility rate of Bitcoin has substantially decreased over the past few years.

There seems to be a trend in cryptocurrency investment.

Traders of Bitcoin often leap from one digital currency to another, spreading their
investments across popular currencies such as Ethereum’s Ether (ETH), anonymous currency Monero (XRP) and Litecoin (LTC) .

ALSO READ: Bitcoin Unlimited:Bitcoin Price Increases to $1,115 as of Today

However, Bitcoin price fluctuates upon the
emergence of major market and industry-affecting events. For instance, when the discussion of hard fork contingency intensified and the market began to shake, Bitcoin price plunged, stabilizing in the late $
900s.

More importantly, crypto assets like Ether have
drastically increased in price because of the rising interests of corporate investors and financial institutions.

ALSO READ: A Town in Washington DC Where Cannabis are Bought with Bitcoins

Specifically, the formation of the Enterprise Ethereum Alliance increased the market cap of Ethereum by around 4x, as it jumped from $1 bln to over $4 bln within a span of two months.

The back and forth movement of Bitcoin investors and their diverse portfolio of cryptocurrencies explain the ratio of trading pairs in major assets like
Ethereum . More than 50 percent of trading in the
Ethereum exchange market is processed with the
ETH/BTC pair. Therefore, there exist more domestic
traders within the cryptocurrency community
purchasing alternative crypto assets such as ETH than conventional investors trading altcoins.

Source: cointelegraph

ADS