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Opinion: Traders Are Cashing Out From Bitcoin And Then Pouring Into Altcoins
Summary: The recent plummet on the Bitcoin market has recovered a lot today, the data from Bitpush shows that many altcoins see higher rallies. For example, the Synthetix (SNX) token hit a new all-time high today with over $16, an increase of 28.54% within 24 hours. Andrew Tu, an executive for quantification company Efficient Frontier, told ...
The recent plummet on the Bitcoin market has recovered a lot today, the data from Bitpush shows that many altcoins see higher rallies. For example, the Synthetix (SNX) token hit a new all-time high today with over $16, an increase of 28.54% within 24 hours.
Andrew Tu, an executive for quantification company Efficient Frontier, told Coindesk that amid the latest market correction, a lot of funds have been poured into altcoins, this scale has never appeared since 2017. On the other hand, the market cap of Bitcoin keeps falling after it sets a record high last week, indicating that traders may be cashing out Bitcoin and investing it into altcoins.
By Mary Liu
Tags: Altcoins,Andrew Tu,Bitcoin,Efficient Frontier,SNX
Link: Opinion: Traders Are Cashing Out From Bitcoin And Then Pouring Into Altcoins [Copy]
