Bitcoin is moving up, despite the boom of altcoins

Bitcoin rose 11% on Friday and showed the highest price since mid-December, one coin was worth 16 920 USD (average exchange).

On the trading floors, Coinmarketcap monitored, recorded an average trading up to a maximum of just under 17 000 USD in early Friday. After a small correction value of BTC again shifted closer to 16 000 USD.

Such indicators are encouraging holders of bitcoin in the growing market of alternative digital currencies. The trend marks a pause after several weeks of bearish influence on BTC that was leading cryptocurrency to recover after a significant drop of almost 20 000 USD to 13,000 USD.

Traders in social networks monitor changes in the bitcoin market and celebrate the impact of the growth of the markets BTC to altcoins.

alts bounce because of this.... BTC is a reversal pattern pic.twitter.com/yTOlD8JRih

— Crypto_Ed_NL (@Crypto_Ed_NL) 5 Jan 2018

Lots of questions flying in right now about #BTC.

1. I don't know when/IF it will keep rising. But, I think it will personally.
2. I am waiting patiently. Need patience in this game. I will be buying in when it is even lower. I believe another drop is coming.

— GODFATHER OF CRYPTO (@CryptoGodFatha) 5 Jan 2018

Optimism is a well-known bitcoin figures still remain steadfast, despite investor interest in the Ripple and the ongoing advertising campaign of Bitcoin Cash.

Online columnist and commentator on cryptocurrency market WhalePanda, meanwhile, tend to agree with the theory that is prevalent on Reddit. The theory describes the relationship between price movements in the markets of bitcoin and altcoins.

This is actually a very interesting theory on the #Bitcoin and altcoin current manipulation. TLDR; Big players can't accumulate Bitcoin without moving the price too much, so they pump and dump “cheap” alts to accumulate Bitcoin. https://t.co/oA0eW2KLE9

— WhalePanda (@WhalePanda) January 4, 2018

"The big players are unable to accumulate bitcoin without raising its price. Because they accumulate rocking the "cheap" altcoins to accumulate bitcoin," he concluded idea, initially posted on Reddit.
author:Alain Filippenkov