Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => Polkadot Forum => Topic started by: Gostudio on February 17, 2021, 03:11:54 PM
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Data shows Polkadot's price action has been a bellwether for Bitcoin in the past few months.
Polkadot indicator? Data shows Bitcoin has been following DOT price for monthsMARKET ANALYSIS
Polkadot (DOT) is seeing an impressive 180% gain in 2021 so far, surpassing XRP for fourth place by market capitalization.
Polkadot is a multi-chain protocol that has several "parachains," similar to Ethereum Shards. DOT works on its proprietary technology called Substrate.
The platform is fully interoperable between different blockchains while maintaining the ability to process thousands of transactions per second. Substrate 3.0, which will bring Ethereum compatibility, is expected to launch in the first half of 2021.
Genesis: https://cointelegraph.com/news/polkadot-indicator-data-shows-bitcoin-has-been-following-dot-price-for-months
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Does this mean that when DOT price increase BTC will also increase? I have been following Dot and the price is really going up with just some small correction but I did not notice same movement with btc.
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Genesis: https://cointelegraph.com/news/polkadot-indicator-data-shows-bitcoin-has-been-following-dot-price-for-months
I think the news from Cointelegraph seems compelling because Bitcoin is very independent, it doesn't depend on any altcoins including depending on the price of the Polkadot coin.
I think this is a joke because Polkadot is a newly created coin, even Polkadot just follows the trend regarding the various features it produces.
I believe Bitcoin will not match the price of the Polkaot coin or any of the other altcoins.