The ups and down in the price of Bitcoin has a tremendous effect on many cryptos, Although most of these coins have their own blockchain different from that of Bitcoin, one may wonder whether these coins are knotted with bitcoin, if not then why then the drastic move whenever their is a significant change in the price of Bitcoin??
Some cryptos have developed a kind of resistance to this Bitcoin effect, their movements is virtually independent of the price of bitcoin, some of these coins absorb this impact and then recovers quickly.
These type of coins are good for investment as they tend to maintain a particular trend(Uptrend or Downtrend) for a long time.
In this article we will list the various coins that are virtually resistant to the Bitcoins's effect and how to invest in them.
What is Bitcoin effect?
This simply means the price effect of Bitcoin on other cryptocurrencies. Increase or decrease in the price of Bitcoin have been seen to have a general effect on the whole crypto market, one may wonder why this is so?
We tried to list some of the mechanism behind the so called Bitcoins effect.
How does the Bitcoin effect work?
Generally no one actually understands fully how this effect plays out, but it is believed that three factors may have contributed to the Bitcoins's effect on other coins;
1) Public sentiment: Bitcoin is virtually listed as No.1 on all trading platforms, now it is believed that any significant fall in Bitcoin will be seen by majority of traders and most of them tend to be scared that one or most of the other coins will follow suit, majority of these traders/investors start pulling out their investment from other coins and this effect becomes widespread.
2) Buying oppturnity; Most investors fantasize of having bitcoin, so whenever the price of Bitcoin is down, they tend to sell off other altcoins in other to buy BTC, this in turn causes a down fall in the price of these cryptocurrencies been sold off.
3)The Flag-ship concept; Being founded before most other cryptos, BTC have gain popularity around the world, The flag-shop concept entails that once the captain ship "Bitcoin" is going down others must follow suit.
The activities of Bitcoin always hit the News so any significant price change is seen by all, Bitcoin is virtually seen as a "Role model crypto".
Crytpos that have developed resistance to the Bitcoins's effect
Amidst these believes and concept around the Bitcoin's effect, some cryptos have been seen to have defied this concepts. These cryptos have in one way or another maintained a steady chart pattern (Bearish or bullish) not minding the current trend of BTC.
Some of them although affected by significant changes in the price of Bitcoin do not respond in a drastic manner.
These coins are good for investment For both day traders and long term investors alike and these cryptocurrencies are also tradable on the world leading trading platform Bityard, here is the list of these coins;
POLKADOT;
Polkadot is a decentralized heterogeneous multi-chain blockchain platform, the interchange and translation architecture of polkadot enables customised side-chains to connect with public blockchains.; polkadot was. Co-founded by Gavin Wood, Robert Habermeier and Peter Czaban.
Polkadot market stat;
Polkadot Price $33.8
Volume / Market Cap 0.04107
Market Dominance 1.68%
Market Rank #6
Market Cap $31,216,350,453.64
Fully Diluted Market Cap $35,809,212,224.35
Polkadot can be contract-traded or spot-trader on Bityard, click on the link to trade Polkadot on the best trading user-friendly platform.
TRON (TRX)
Tronix (TRX); founded by Justin Sun in 2017, TRONIX is a MainNet1 token based on the TRON Protocol issued by TRON Foundation.
TRX is the basic unit of accounts on the TRON blockchain. The value of all other tokens derives from that of TRON. TRX is also a natural medium currency for all TRC-based tokens. TRX connects the entire TRON ecosystem, with abundant application scenarios that power transactions and applications on the chain.
TRX market stat
TRON Price $0.06549
Volume / Market Cap 0.3569
Market Dominance 0.25%
Market Rnk #23
Market Cap $4,677,904,008.99
Fully Diluted Market Cap $6,583,482,479.60
TRX (Tronix) can be contract-traded or spot-trader on Bityard, click on the link to trade Polkadot on the best regulated trading platform.
EOS
EOS: this is a decentralized open-source blockchain that is designed to enable developers and programmers to build decentralized apps (otherwise known as DApps for short.) More than 200+ have been designed using the EOS platform.
From the first day of launch till date Eos have witnessed a trememdious surge in price and trading volume.
The EOS platform was developed by the company Block.one, with help of Daniel Larimer and Brendan Blumer.whom authored the whitepaper.
Eos market stat;
ES Price Statistics
EOS Price $4.33 ( As of the time of writing)
Volume / Market Cap 0.3921
Market Rank #30
EOS Market Cap. $4,118,114,225.90
Fully Diluted Market Cap $4,447,554,520.31
EOS can be contract-traded or spot-trader on Bityard, click on the link to trade Polkadot on the best trading user-friendly platform.
DOGECOIN
Dogecoin; Aka the " Elon Musk coin", Dogecoin is a fork-coin from Litecoin, it uses scrypt technology in its proof-of-work, it was Co-founded by Billy Markus from Portland and Jackson Palmer from Sydney in December 2013.
This coin has been seen to be pumping even amidst the bearish trend of BTC, the price movement of this coin is mostly News oriented.
Dogecoin is also used primarily as a tipping system on Reddit and Twitter to reward individuals for their creation or sharing of quality content.
Dogecoin Market stat:
Dogecoin Price $0.05408 (As of the time of writing this article).
Volume / Market Cap 0.1065
Market Dominance 0.37%
Market Rank #19
Market Cap $6,966,811,271.56
Fully Diluted Market Cap $6,966,811,271.56
Dogdecoin can be contract-traded or spot-trader on Bityard, click on the link to trade Polkadot on the best rated trading platform.
BITCOIN CASH;(BCH)
Bitcoin Cash was created in August 2017 by bitcoin miners and developers who where concerned about the future of the bitcoin cryptocurrency, and its ability to scale effectively.
Bitcoin Cash is a decentralized peer-to-peer electronic cash system that enables fast payments, micro fees, privacy, and high transaction capacity (big blocks).
The main concept behind BCH creation was to create a cryptocurrency similar to the physical money, such as a dollar bill.
BCH is among the Pioneers of Peer-2-Peer from of payment in cryptocurrency.
There is a popular adage that says " if you can't Bit it, then Cash it".
Bitcoin cash Market stat;
Bitcoin Cash Price $528.30 ( As of the time of writing this article).
Volume / Market Cap 0.2083
Market Dominance 0.53%
Market Rank #14
Market Cap $9,876,439,056.20
Fully Diluted Market Cap $11,094,811,116.07
BItcoin Cash can be contract-traded or spot-trader on Bityard, click on the link to trade Polkadot on the best trading user-friendly platform.
Conclusion; The Bitcoin effect affects majority of the cryptocurrencies out there, but the above listed coins have proven to be some how resistance to the Bitcoin effect to some extent.
Most of these coin have a very strong community with high trading volume, some are actively involved in various activities borh on social media and on their local platforms, boosting their images through public awareness, some are been used on a daily basis etc.
Like we said eariler on this coins are good for investment,.
The above listed Bitcoin-effect resistant coins and many other cryptocurrencies (80+) can be traded on the world leading trading platform Bityard.
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