Last edited: Nov 29, 2021

This week of November 22nd to November 28th, 2021, though Ethereum and Bitcoin came out of the week rather scar-free, major altcoins, including ADA, XRP, DOT, DOGE, LTC, and LINK, are all down more than 10% over the past week. Let’s take a look at BTC and ETH’s price charts, compared to the movement of altcoin, and potentially decipher the difference in volatility.

BTC: $56,991.38 (-3.7% last 7 days)

ETH: $4,292.12 (-0.81% last 7 days)

ADA: $1.590871 (-14.77% last 7 days)

DOT: $35.626 (-18.35% last 7 days)

Comparing the graphs, BTC and ETH had a much stronger rebound in prices after the massive downswing between the evening of November 25th and midnight/early morning of November 26th. Before November 25th, BTC and ETH were about even or slightly up for the week, while altcoins are mostly already trending downwards.

This shows that despite the fact that within the crypto market, even though the coins are strong correlated with each other in terms of price movement and price volatility, BTC and ETH being the two most dominant and most traded currencies give them the edge over other altcoins in price support levels and speed of rebounding, whereas other altcoins may need more positive news to successfully mount a comeback. Looking forward to this week, it is unclear whether the crypto market will complete the short-term price correction yet, so investors should still approach buying or selling cryptocurrency contracts with maximum caution.