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 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.
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.
The Small Cap Index is naturally the worst-performing candidate in times like these. These altcoins that are still carving a niche out for themselves always get hit the hardest, losing more than twice the value lose by lead digital assets.