Whilst many altcoins will largely follow the trends of Bitcoin in terms of investment value, there have been times when the two markets have moved oppositional to one another. Altcoins do not exist in a single market of course, so this doesn’t apply across the board. However, the beginning of 2020 has shown a renewed interest and increase in the value of the altcoin space in general, with Ethereum being one of the prime beneficiaries of this latest rise. Like all markets, the altcoin markets are prone to bull-runs and bear-runs, and this latest trend in the rising value of some of the top altcoins may be little more than just another example of this in action.
Many are working to study the trends that have led to the most recent rise, which may include the upcoming major update for Ethereum, known as the Ethereum 2.0 launch,
as well as the expansion of Coinbase outside of the US, offering its ability to store digital coins on a world-wide basis. While these factors may have contributed to the currency ascendancy of altcoin, the pendulum could soon swing to the other side. With Bitcoin undergoing its routine “halvening”, which slows the production of Bitcoins, the increasing rarity of new coins, by comparison, may lead to a rise in Bitcoin value.