Bitcoin succeeds in rebound, Dogecoin fails The reason is?

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Major cryptocurrency market conditions as of this start-Coinmarket cap capture

Bitcoin, a representative cryptocurrency (virtual currency), has halted the decline for 5 consecutive days and succeeded in rebounding, but Dogecoin has not yet found a solid rebound momentum.

This is analyzed because the price volatility of all cryptocurrencies is extreme, but Bitcoin, which can be said to be a coin-based Samsung Electronics, has relatively few volatility, so investors who prefer safety were concentrated.

As of 4 pm on the 26th (based on Korean time), Bitcoin is recording $52,717, a 5.54% increase from 24 hours ago on CoinMarketCap, a live cryptocurrency broadcasting site.

Bitcoin fell to $47,250 a few hours ago, but is rebounding sharply. This is interpreted as a large inflow of low-priced buying.

Bitcoin 24-hour price trend-coin market cap capture

As a result, it seems that Bitcoin has halted the decline for 5 days a year and has clearly caught a rebound momentum.

Experts are analyzing that this is because altcoins (coins other than bitcoin), including Dogecoin, showed extreme volatility in recent years, and investors were crowded with relatively stable bitcoins.

On the other hand, Dogecoin, which led the cryptocurrency surge ahead of Doji Day before April 20, has not escaped the decline.

Dogecoin is recording 26 cents, a 5.21% drop from 24 hours ago at the coin market cap at the same time.

Bloomberg said that the US media outlets said that the forces that recently acquired Dogecoin were Reddit (American online community) ants who acquired GameStop’s stock. It was analyzed that it appears to be buying a stable bitcoin.

Dogecoin led the cryptocurrency rally as it surged ahead of Doge Day on April 20th. Dogecoin was traded for less than 10 cents at the beginning of the year, but it soared to 43 cents on the 19th ahead of Doji Day on April 20th, hitting an all-time high.

© News1 Designer Lee Ji-won

However, when Doji-day arrived, it began to plummet, and now it has reached the 20-cent level.

Experts are convinced that investors who have witnessed the volatility of cryptocurrencies in person recently seem to be starting to see the most stable bitcoin among cryptocurrencies again.