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Data Says Bitcoin Holds Up To Macro Turmoil Better Than Altcoins

Data Says Bitcoin Holds Up To Macro Turmoil Better Than Altcoins


NewsBTC
2022-02-23 23:00:13
Data Says Bitcoin Holds Up To Macro Turmoil Better Than Altcoins

Bitcoin has not had the best couple of things and altcoins have been subjected to the same fate too. The market has continued to succumb to pressure being mounted by various social issues, from the Canada protests to the brewing conflict between Ukraine and Russia. In all of this, however, bitcoin has mounted better resistance and this is apparent in the data. Bitcoin Holds Ahead Of Indexes Bitcoin has once again proven to be the best bet when the market is in turmoil. With the recent downtrend, all of the indexes have suffered, just like bitcoin, but the latter has held up better in the face of adversity. While some of the indexes have recorded double-digit losses, BTC remains the top performer with only a 4% loss, a small value given that the net best-performing index saw losses twice as large. Related Reading | Bearish Signal: Ethereum Exchange Balances Touch 3-Month High The Large Cap Index which is known for holding up to macro turmoil and usually seen as a safe haven for investors returned 8% in losses, double that of bitcoin. As for the Mid Cap Index, there was more bad news to be had with losses running into the double-digits. In total, this index which comprises some fast-rising projects in the crypto space saw 14% losses. BTC ahead of indexes in monthly performance | Source: Arcane Research The Small Cap Index is naturally the worst-performing candidate in times like these. These altcoins that are still car...

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