U.Today – The price of the leading cryptocurrency (BTC) hit a new all-time high during today's trading session. According to Binance, BTC's all-time high was set at $108,353, surging more than 2% from its opening price. Currently, major cryptocurrencies are cooling off and falling below new value marks, but considering Bitcoin's performance in recent weeks, it would be imprudent to believe that this is the final stop. It seems.
Interestingly, while BTC is rising, the rest of the cryptocurrency market is in the red, with many of the alternative cryptocurrencies suffering double-digit percentage declines as the day progresses. However, given the trends in this cycle, there are two altcoins that are likely to follow Bitcoin in the near future.
We are talking about and (DOGE). Since November 4th, when BTC last traded below $70,000 and began its epic rise to six digits, XRP and DOGE prices have soared 467% and 232%, respectively. This has made these alternative cryptocurrencies market leaders despite already having “heavy” market capitalization figures.
At the same time, the prices of (ETH) and (SOL) each rose about 70% during the same period. While this is significant, it is also disproportionately small compared to DOGE and XRP.
It is an open question whether Dogecoin and XRP will continue to “catch up” with Bitcoin this time as they hit historic highs on a weekly basis. However, if BTC's rise pauses, we can assume that these will be the first choice for market participants to make investment decisions.
This article was originally published on U.Today
