Altcoins Could Lose 20% When Bitcoin Climbs To $5,000

Altcoins could slide 20 percent if Bitcoin hits $5,000 in the near future, a trader has warned as prices remain firmly above $4,000.

With Bitcoin squarely outperforming the majority of altcoins Monday, even Ethereum (ETH) is struggling to post meaningful growth.

A push for $5,000 could see temporary heavy losses for alternative cryptoassets, according to Twitter commentator CryptoPhil.

A glance at current statistics for the top 10 cryptocurrencies on Coinmarketcap underscores the current lack of correlation between Bitcoin’s solid progress and the uncertainty seen in altcoin markets.

Full story at http://bit.ly/2w9keiC

Source: CoinTelegraph

 

 

 

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