No one can guarantee how Bitcoin's market will move now, but there are indeed some insights into the trends of those competing coins. Based on historical performance, these other cryptocurrencies might still need to drop by about half.
Why do I say this? Just look at the correlation patterns between Bitcoin and other coins: when Bitcoin rises by 10%, other coins usually don't rise by that much; but when Bitcoin drops by 10%, other coins often plummet by 30% or even more. Bitcoin has been consolidating at a high level for a long time, so a downward adjustment of 20% is actually quite normal. Even if the overall trend is still upward, seasoned investors know that before a new round of increases, the market always has to correct first — this is a common strategy.
Considering these circumstances and historical experience, the possibility of other coins dropping another 50% is quite significant. When Bitcoin rises, they can't keep up, but when it falls, they fall even harder. This asymmetrical rise and fall phenomenon has long been a problem in the cryptocurrency market, and we investors need to be extra cautious.
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