It has been yet another interesting week for all of the cryptocurrency markets. Despite Bitcoin going in the right direction again, it is rather clear altcoins are not following this trend as of right now. In fact, it seems the divide between Bitcoin and “the rest” is only growing larger, pushing the Bitcoin Dominance Index back to nearly 65%. Not what altcoin speculators have been looking for by any means.
Bitcoin is Dictating the Pace
It is apparent for everyone to see how Bitcoin is the only market in the cryptocurrency industry which seems to matter right now. Its value dictates the altcoin landscape in both BTC and USD value alike, which can have some rather interesting consequences along the line. Right now, it is pretty apparent the rise in Bitcoin value is causing problems for most of the alternative markets available today. That trend is not uncommon, but it is somewhat worrisome.
For the time being, it seems unlikely the altcoins will note any real comeback in the coming hours and days. In the entire top 20,…