Cryptocurrency: Follow The Leader

It is a rough time to be a cryptocurrency investor right about now. Prices have been falling since the start of 2018, and just when you think things are going to get better: the price falls again.

You'll hear the same tripe being wheeled out from so-called "mature" investors who will tell you, "just hodl, it'll go back up", "this is just a correction", "accumulate", "dollar-cost averaging to offset your losses", etc.

As much as I believe in cryptocurrency, I am more of a tech-oriented guy. Admittedly, I did do okay in 2017 when crypto prices were stratospheric. I am not one of those people who naively assumes cryptocurrencies will overthrow fiat currency, but I do believe the tech itself is game-changing.

Looking at CMC today, I found it funny that all of the top ten cryptocurrencies seem to follow the same pattern as one another. When Bitcoin takes a tumble, seemingly every other crypto does the same in the top ten.

This isn't decentralisation to me. If Bitcoin can move the market up and down, especially the top ten cryptos, is that centralisation?