Bitcoin Forum

Cause you know all that Eth being sold is parking in BTC...

Yep..ETH and BTC have inversely correlated for months now....

I have however, yet to hear a good explanation as to why this is the case.

Why does people selling ETH for BTC, which are sitting on an exchange, after someone has already bought the BTC with USD; have to result in people trading in BTC for USD?

This does not make sense.

For any outsider the ETH crash will be a warning before investing in BTC. I think we'll have less in-flowing money because of it.

keep in mind that some of these eth are going to become usd directly

I guess the biggest eth volume is on Poloniex. I'm sure alot of btc is heading back to wallets. The rest is going into other alts. there's some big fat minuses on there and some crazy gains today.

I think the effect is gonna be relatively neutral.

For ignorant outsiders, maybe.  But not for those who can do their own research.


I agree.  Instead of getting btc with lower prices and risk getting burned twice (quite a few altcoiners doesn't believe in bitcoin) they might choose to cash out directly and not invest further.

Why would the BTC/USD price rise from crypto to crypto trade? Does not compute... Except the case where now, money that would have gone into ETH might be diverted to BTC

Why should it have an effect? they are 2 separate currencies,and i don't think etherium is that popular..

Ever since ETH started crashing, I noticed some alts have started gaining. Some of these alts have languished for the last few months and suddenly they are increasing, like 25%, overnight.

My point is not all ETH is converted to BTC, some are going to alts.

Peeps buying BTC with Eth reduce the Supply of BTC on the exchanges.  Thus, less BTC for new fiat to chase.

Peercoin and namecoin did get a good boost, but it seems just temporary. Eventually when the price of bitcoins start going up those coins are sold as quickly as they were bought.

Those coins go up all the time when bitcoin is going up. I did check the charts and did not find any pattern however.
Seems all the coins are in their usual flow?

That's what I'm fearing too, although the media feedback of the hack until now was limited.

In this case the hack had exactly nothing to do with Bitcoin, only that a blockchain was also involved. The problem lies in the possible complexity of the smart contracts because of the turing-complete programming language.

But every time a hack occurs in crypto-land, Bitcoin is associated with scams and other dubious activities. Most people won't invest in such a risky asset. That's why I already "called the peak" in another thread. The last BTC upswing seemed to have stopped at the same level as the previous high, so a "double-top" may be forming. It's obviously possible that the bull run continues a bit more, but mid-term I think the rally is coming to an end.

And as already was said, not all ETH have to be exchanged to BTC. They can be exchanged to USD directly or - even worse for the BTC price - to BTC and then directly to USD.

I would think the hack news about ETH has a lot to do with the drop.  ETH was holding its own for a while, and bitcoin was rising then, too.  This whole DAO incident caused ETH to tank.  That's how I see it.  Not sure it has a lot to do with btc/ETH pair trading.

Not exchanges like polo that has no usd market. They also had absolutely massive volume in the dump.

This. The btc/eth trading pair doesnt matter for the question.

It has to go eth/fiat -> fiat/btc - but personally i dont think it will happen  on a big scale.

When Bitcoin goes up in theory all altcoins should go down. It doesn't happen always, but when people see they can trade their alt coin for $750 worth of Bitcoin instead of $600 they usually sell their alt coin to go into Bitcoin and sell the Bitcoin. During rallies however, people are not so ready to sell so it doesn't cause much downward pressure. I hope I made some sense in this lol ;D

prepare all your bitcoin for buying ETH , then wait 1 month , easy 1500% "maybe"

Everyone thought that ETH was going to overtake Bitcoin and I guess that failed miserably. Bitcoin rose quite a bit already but it is now stuck at $750. I hope it keeps going up. :)

this doesn't even make any sense!

any outsider! doesn't even know about ethereum before bitcoin. so if they hear about cryptocurrencies they are going to hear about bitcoin first and then here that there is this one other thing called and alt(shit)coin which is being pump and dumped and there is a lot of spam that says it is good (while it really is not)

besides if an outsider is that ignorant let them take a warning and stay away, one panic seller less in the market is better. good riddance :D

Bad news about any cryptocurrency can flow downhill to affect bitcoin, causing new investors to be wary about investing at all, even in bitcoin.

There are very few journalists or mainstream news organizations that are familiar with ETH. I haven't seen or heard anything in the media about the hack. I just searched cnn.com for "etherium", resulting in 0 hits. The same search for "bitcoin" produced 209 hits.

The hack of ETH will not negatively affect BTC's credibility in the eye's of the public. ETH is just some shitcoin that no one, outside of a few nerds on this forum, have ever heard of.

Eth pretty much crashed 50% against BTC in the past few days, so it pretty much rewards anyone who have trusted BTC and held it. The ones who held BTC instead of Eth have seen a positive profit instead of a huge red one.

I think that shitcoins will die off eventually, so BTC will go up.

I think this Ethereum crash just proves that Ethereum is very vulnerable to large dumps, more so than bitcoin is. Bitcoin at least have almost 10x the Ethereum market capitalization right now.

so yeah, I think that the price of BTC will be affected in a positive way by this :)

Probably will bump it up a few %. ETH is not big enough to really make a dent in Bitcoin any way but as people no doubt lose their faith in ETH after the catastrophic failure and even bigger talks of expected hard or soft forks they will go back into big daddy bitcoin.

I think ethereum will not back again for the price before because of they are already desctroyed and many people now not trusting ethereum.. more price decrease is coming and its impossible to recover from 0.025+ back to below 0.001 or below of this price.. don't expect for ethereum and i think devs will make another one..

interesting idea but I don't think the effect is going to be that big, although there is already a little rise in bitcoin price. because a lot of people are dumping ETH for BTC not for USD and then buying BTC with USD, so it can't affect the btc/usd price.


yeah this is most probably what is going to happen to eth, recovering from this dump (-39%) is not possible. although you never know with these coins that have a huge premine and are being controlled tightly.

We dont know ifif ethereum investor will convert into bitcoin but if all investor will convert into bitcoin until now we will see much more increase or much bump price this coming block halving i think 10% to 30% will increase for bitcoin price if it will happen..

Filtering ETH out of bitcoins takes ETH nowhere, but it also doesn't matter into bitcoins as both are on different paths.
ETH was hacked or not, but dumped, bitcoins are being pumped and will get dumped after halving, that's the only truth.

I think they are talking about the recent issue of DAO. The hacker didn't even sold even a single ETH, they locked up the child DAO which the hacker transferred it to.

I don't think much of traders will be dumping ETH for fiat currently better they are converting them to bitcoin to keep profit from bitcoin uptrend this will not make more money to flow into bitcoin to increase marketcap however bitcoin price will be stable due to this.

if people will be going to bitcoins with all those ethereum money then in my opinion the price is going to be dumped real hard because most probably people will sell those bitcoins

but the price of ethereum is not going down any more thus it means that people are now actually waiting and the price might be stable or it might even possibly grow a little bit

I think it depends on why someone invested in ETH in the first place. If someone invested into ETH because of the hype, they might exit the scene completely and just take the fiat option. If someone

invested into ETH to hedge against Bitcoin and only having a single basket of Crypto currencies, they might just sell to buy some other Alt coin to keep it diversified. There were a lot of trash talk

both ways between ETH and Bitcoin supporters and they seem to be in competition... so I doubt that ETH supporters will just start buying Bitcoin again.  ::)

The price of Ethereum is dropping for the last 30 hours, but the bitcoin price did not rise at all. This incident will affect people's confidence in bitcoin as well.

Bitcoin maybe got a $20 bump from the crash of ETH, but I have no idea where it is going to go once Ethereum starts gaining traction again.

Ethereum maybe affects $50 of the Bitcoin value max, and that's the big investors who constantly flip back and forth. Unless someone can give a better example, that seems to be the most I can see Ethereum investors affecting the Bitcoin value directly.

Possible will increase price of bitcoin i think around $50-$100 if more ethereum investors are converting into bitcoin if not they withdraw ethereum in usd.. instead.. but i am sure that the price of bitcoin will increase more nearly block halving..

True, He didn´t sold but investors lost confidence and they sold, It was on levels $20 and after crash $12.
While than the BTC value remained the same on this event.

I think most ETH coin holder are not supporting specific, they are investors that use to think they can profit in specific coin. So if something happened with ETH, there surely people that shift to bitcoin for safety and secure profit. No one wants to lose coins.