Why is bitcoin on the rise?

The rise is part of a broad cryptocurrency boom inspired by the continued rise in bitcoin's price. Last month, bitcoin rose above $20,000, smashing its previous all-time record of around $19,500. Since then, it has continued to rise, breaking above $30,000 in recent days.

Does bitcoin have a reverse effect on other cryptocurrencies?

However, when an event is caused by a specific influencing factor rather than holistic market issues, Bitcoin may have a reverse effect on other cryptocurrencies. While there is evidence of long-term correlation, it's not all set in stone.

What is the difference between Bitcoin and other cryptocurrencies?

The contrast between bitcoin and other cryptocurrencies does not hinge on the differences in their utility, but in the ethos of their users. Bitcoiners are here for a peaceful, monetary revolution to create a brand new society in a way that’s never been done before and without any rulers.

Is Bitcoin (BTC-USD) moving up?

Bitcoin (CCC: BTC-USD) has moved up so far, so fast that anyone starting to invest in cryptocurrencies is more or less forced to look at alternative plays. As of Friday May 7, BTC-USD was trading at $57,732, up 99.3% from $28,972 on Dec. 31, 2020.