As we’ve seen in the past, an onslaught of Bitcoin selling usually means the same for its altcoin peers, often amplified.
Today, this is partially true. Almost every major altcoin is in the red, averaging a loss of about 5%. But the losses are outpaced by BTC on MtGox, understandable as MtGox has its own issues to worry about. But even vs BTC on BTC-e and Bitstamp, the losses are comparable and not repeating their exaggerated behavior observed in the past.
The other noteworthy sighting is that not all altcoins are participating in the rout. Dogecoin fans will be delighted to know that their favorite pet is up by over 6%, barely reclaiming its hold on 5th place in market cap from Nxt. Aside from Dogecoin, no other coin within the top 28 in market cap is positive today in dollar terms. The most faithful believers will use this as a shining example of Doge’s prowess. It is indeed difficult to explain. Dogecoin is currently trading around 1.65 µBTC (0.14¢).
FXTM Recruits Financial Broadcaster Han Tan to its Market Research TeamGo to article >>
Litecoin is also down by about 5%, in line with its crypto peers, trading at around $20. LTC investors should feel fortunate that they got off relatively easy considering its underperformance of late.
One of the biggest losers has been Vertcoin, down by over 11%, which is to be expected following its gigantic run-up of over 1100%.
The hottest coin today is Astrocoin, up by 112%. With a market cap of $181,000 though, it ranks 70th and still needs to prove itself, to say the least.