Bloomberg

Bitcoin Marches Away From Crypto Pack in Show of Resiliency

(Bloomberg) — Bitcoin’s rebound is making another rebuttal to those who expect the largest cryptocurrency will be overtaken by the meme-worthy heirs cropping up in droves.While the original token was able to pare back its losses to just 11% from 31% Wednesday, its peer coins weren’t as lucky. Ether, Dogecoin and Binance Coin all remained down by at least 20% in afternoon trading. That’s half of their earlier losses, but still double the damage compared to Bitcoin. For Bitcoin fans, the moves are yet another sign of its resiliency in the notoriously volatile market.“If crypto was to crumble, BTC would be the last coin standing,” said Max Gokhman, head of asset allocation at Pacific Life Fund Advisors, referring to Bitcoin. “Hence players in the space will keep dumping other cryptos in favor of BTC even if it’s the subject of a negative narrative.”The partial rebound in…

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