Bitcoin Resilience
Bitcoin was able to hold up better than many other digital currencies because it is more established than its peers, claimed several analysts.
"BTC is the anchor crypto that all other cryptos are tied to in terms of price," stated Shone Anstey, president and co-founder of Blockchain Intelligence Group.
"Bitcoin is the most stable and dominant cryptocurrency with the largest network effect. Bitcoin is the one to watch, since if it fails they all fail."