Although the price of Bitcoin is high, the reason why the price of Altcoins is falling!

While the price of Bitcoin is high, the price of Altcoins is down. Currently, the price of Bitcoin is above 1 lakh 5 thousand dollars. As the price of Bitcoin has fallen for the past few days, there was a fear that Bitcoin is going to take a final correction and the price of Bitcoin is likely to move towards 85-86 thousand dollars. But then Bitcoin bounced back to the upside. However, in the past few days we have seen that Bitcoin fluctuations have resulted in over $250 million in liquidity in the market. Anyway, if we look at the market right now, we can see that Bitcoin price is in a very good position, but if we look at the altcoins, we can see that they are filled with red candles. Today I will share with you why Altcoins are down in price. I am discussing those reasons with you step by step.

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One of the reasons behind the decline in the price of altcoins is the dominance of Bitcoin. If you review the Bitcoin Dominance candles for the last 24 hours you will see that Bitcoin Dominance has increased in the last 24 hours. And we see that when Bitcoin's dominance increases, the price of altcoins decreases. Usually when the price of Bitcoin increases, the price of unique coins can be seen to increase immediately, but if Bitcoin dominance increases with Bitcoin, then the price of Altcoins usually goes down, despite the increase in the price of Bitcoin, which is what we are seeing in the market right now.

The second reason that seems to me is that we know that President Donald Trump's own meme hit the coin market yesterday. And in a very short span of time after this coin hit the market, it has achieved a market cap of 14 billion. This means that many people have invested and traded in this coin of Solana Ecochain out of other coins. Achieving this amount of market cap in such a short period of time has affected other coins quite badly. This coin has managed to include a lot of traders in a very short span of time and a lot of people have bought and traded in it and if we look at this coin it can be seen that it has gained a good amount of price and it is trading above $28.

Moreover, we know another thing that President Donald Trump is going to take his presidential seat on the 20th. There are ups and downs in the market around this period. It is usually seen that the market is down a bit during this period and the market is up a good amount during the next period. Moreover, there are various meetings for the past few days and for the next few days where many issues are involved, starting from interest rates. Due to all these reasons, the price of the coins has decreased slightly. However, some coins belonging to the Solana Ecochain rose in price yesterday. But hopefully the bull market is going to start very soon. Until then we should wait. Hopefully the results of our patience so far will soon turn into something good.