Bitcoin Forum

I understand that since altcoins are paired with BTC for trading, the price is based off bitcoin's.

However, even if an altcoin is doing well, it can tank (in terms of sats) when bitcoin's price corrects.

Will we ever see a market that isn't so heavily dependent on bitcoin? Is this possible for the future?

This will come with time as the public are more aware of other cryptocurrencies and their benefits, right now for many bitcoin and cryptocurrency are the same thing when in fact bitcoin is just the tip of the iceberg.

Once youxcan buy an altcoin without buying btc to buy it, it becomes free from one side of the connection. However a lot of people like to keep their assets in crypto, so they will trade out of alts into btc and/or eth, so until btc lises its spot as the top dog, it will always have some correlation to the market as a whol ie alts

 8)

ever since trading begun way back on the history of barter when the currency was created, all people in the market need something standard or common practice to compare all the value of their currency, they have many kinds of coins before like copper, bronze, silver but the most valuable is the gold but the value of ll coins was based on the value of gold, like ten copper is equivalent to 1 piece gold coin , etc, same with the digital coin, they need a standard and basis to give their coin a price.

It would be very hard for alt-coins to be separated from bitcoin...Once they have bigger trading pair than btc then this might be slightly independent.

I think that is what not allowed for the crypto currencies because they are literally decentralised and very manipulative. If we do not make any trades in the bitcoin but makes loads of transactions in the altcoins then they can get affected in sever ways and thus can get pumped or dumped depending upon the situation. So its like altcoins are neither too dependent on the bitcoin and sometime they are so much dependent that their graph moves in similar manner as with the bitcoin. This is what happened in todays trades also, when bitcoin started jumping upwards it actually drove the market of altcoins upwards too.

For this to happen, bitcoin will have to lose it's market capitalization completely and possibly become a worthless currency only then can the altcoins become independent. But then again the altcoins will have to be traded against the new coin that dominates the market.

There is no way altcoins will be totally independent of Bitcoin because Bitcoin is regarded as the base currency in the the Blockchain world. Any time there is movement in the price of Bitcoin it will automatically affect other cryptocurrencies. That's the reality of Bitcoin impact the crypto space. Thanks

altikon never will be, regardless of bitcoin is as a global position of the dollar against other world currencies

I think it's very difficult right now, because governments just recognize bitcoin, they're not optimistic about altcoin, and they're even going to have further regulation of the ICO market and the altcoin market.

I have studied a lot on this subject of coins to be independent of Bitcoin, and I practically do not find a coin that does not change after Bitcoin's correction, some because they are more solid than the others resist for a while but then adjust to Bitcoin's current, an example of this may be Ethereum, delayed but was corrected after the correction. I would like to see a future with indenpendent currencies, but currently I do not believe in possibility.

It is difficult to remove the basis from the entire block system. This is one big thing that is inseparable actually. And even if bitcoin completely drops out of the trade, even then the altcoins will also suffer very much.

As long as bitcoin is the most popular cryptocurrency and most of the trades are done with BTC, it is impossible. I don't think it will happen in near future.

i think when exchanges list alternative pairs such as ETH and LTC for trading almost all altcoins then we will see some stability.

As it seems to me, the dependence of altcoins is related to their trading pair to bitcoin and I think that the independence of altcoins is real, we just need to use some other pair for bidding.

To my mind, won't. A lot of us though in the beginning of January that altcoins could not only double but make your profits bigger 5 times and more. After BTC drop in the middle of January, almost all altcoins fell down. Now it is not easy for them to renew their previous high price so quickly

it's bad thing , so any dump in bitcoin all market be red except some unknown altcoins , i think it's a related to Trading in BTC Pairs on exchanges and the trading volume of it.

Its possible to get market that not heavily dependent on bitcoin only in case if some new coin replace bitcoin  :) For example Ethereum or Ada.

It is very unlikely that. The market will always revolve around bitcoin, the attention of all traders will always be riveted to bitcoin.

To the whales, altcoin is the way to get more bitcoin. so the alts price will never be independent of BTC movement.

We need to accept what value of altcoins now. We need still to wait and have some patient because when the value of bitcoin is going high and going stable again, we don't have any problem in altcoins because value of it is going high too. Patient is the key for successful life.

for now altcoin runs itself without relying on bitcoin I think it's hard. but in the future it may happen if too often depend on the bitcoin altcoin prices can not be stable. but I think it will need a process and time to come.

Bitcoin dominates the crypto currency market because it is the most voluminous coin of this market. This situation continues for a long time.

I watch the course of altcoins in the equivalent of bitcoin. Therefore, independence is not possible in my opinion. If even bitcoin as it separates, then another coin will appear, in relation to which the course of all other coins will be evaluated. There must always be some point in relation to which you can evaluate the value.

If a coin may be bought without converting it to bitcoin,  then it's rate may not depend on bitcoin 's price. It is simple:) 

I think coins will be independent of bitcoin only when they are directly traded to fiat.

As long as alt prices are pegged to bitcoin prices they can't be independent. It looks like most altcoins will never be independent at this rate.

technically if an altcoin owns a proprietary blockchain it should not be constrained by bitcoin movements (technically.. in fact it's another question!)

The growth of coins depends on the increased demand of users. If users begin to actively use altcoins instead of bitcoin, then we can see that they are not in dependent on bitcoin.

That wont be happening in the future,because bitcoin is dictating how these altcoins will do,market will be based to bitcoin's investors,if these investors pull out their money from bitcoin's the market will surely crash as what we are experiencing the marketcap falls all the altcoins will bleed,the only time these alts wil lbe independent when these investors wont put their money to bitcoin which is not possible.

I think that in the near future this should happen because, frankly speaking, everyone is a little tired of dominating bitcoin in the market and all the altcoins today completely depend on the behavior of exactly bitcoin, I think that soon everything should happen

I don't think this will happen any time soon. Bitcoin is like gold for crypto world, because it is always use for comparison. As long as there is high demand for Bitcoin, Bitcoin will rule the market.

Just as the reference currency in the international monetary system changed from pound to usd in the early 1900s, bitcoin is slowly becoming less of a SOLE reference currency in exchanges. Many exchanges have already added eth-pairs, ltc-pairs or even dogecoin-pairs.

U've to understand that a lot of the correlation in cryptocurrency fluctuations does not occur in this manner: (i) bitcoin moves first, (ii) then altcoins follow. Sometimes the two are simultaneous, due to the fact that events such as news of trading bans etc. cause a drop in sentiments in the crypto-markets AS A WHOLE, or good news such as the crypto hearing in US lifted market confidence AS A WHOLE.

Presumably when mainstream acceptance of all crypto grows, and systemic shocks to the cryptoverse are rarer, there is a chance for altcoins and bitcoin to decouple. I.e., Altcoins will presumably gain more independence from bitcoin's movement when everyone recognise them as separate entities. Just as the masses found btc in early dec, then found alts in mid-dec to early jan, sooner or later, alts with solid teams, real use cases and real participants in their ecosystem will gain their own places in mainstream folks' daily lives, and coin-specific shocks rather than systemic market shocks will take over in causing price fluctuations.

Probably it will be possible in future. However, as you noticed BTC is the main pair traded at criptocurrency exchanges and altcoins depend on BTC price 

As for me not any time soon. Btc will still continue to determine the market for alt coins. Its still the apex coin in the pecking order. However, with the success of alt coins such as ETH becoming a force to reckon with, the reality of alt coins becoming independent of Btc price may come true. We just all have to wait and observe.

All altcoins are shoot off of Bitcoin and it is not visible for now for altcoin price movement to be independent of what is happening with Bitcoin price. I do
see the possibility now.

Market movement of any coin will be depend on the project. If the project is fine to invest such as exchanges, smart contract, app integration or security oriented. You will get the people more like and invest on the project. This is how it reaches to expected marketcapital in their token sale time.

If project is not on the Ethrereum platform you will get the different marketplace movement buddy. This is I am saying because of last dump time trend I watched Vechain and USDT trend when all the goes to cheap.
This is how we have to conclude the bitcoin and altcoin are co-dependent one.

When exchanges start offering Fiat pairings, the correlation will disappear.

I have good hopes for the FairX decentralized exchange of Stellar. If it's as good as they advertise it, it could become the market leader with lots of fiat pairings.

I think bitcoin has become something of gold to ordinary money when there was a gold standard. As we all remember, the gold standard was abolished when gold became severely scarce due to the developed economy. Bitcoin has a large emission. At some point will be about the same. His place will take another coin, which will be the most important for crypto-world. When this happens, it is very difficult to say. Maybe an ICO telegram in a couple of years.

Its about market sentiment. Crypto is crashing right now, how do we know BTC is falling "first"? Also this is very normal, if one video game company has bad earnings report, all video game companies drop. If Apple has bad earnings, the entire stock market could shift.

no, the market still desperately needs bitcoin as a reference price of all altcoin. market and bitcoin can not be separated anyhow. as long as bitcoin still has the highest value, so long as bitcoin will remain a benchmark of the price of all altocoin.

I hope one day altcoins will be independent, but it's very hard to forecast how long we will wait.

The Crypto currency has so far taken some first steps in its development. Of course, over time, there will be a lot of trading pairs on exchanges and exchangers and then many successful coins will not depend on bitcoin. Only new coins that just appear on the market must have a binding to bitcoin or other old and known coins.

It wont happen because if bitcoin's collapse most of the altcoins in the market wont survive,bitcoin is the foundation of all the cryptocurrencies,and most of the altcoins are paired with bitcoin and it means whatever happened to bitcoin the altcoins will react to it and will follow bitcoin's footsteps.Most of the investors are investing to bitcoin that is why bitcoin's price movements will dictate how these altcoins will do.

This will take some time, but I am sure it’s going to happen. If you have noticed there was the change in alts behavior just recently. Alts are not dropping when btc is going up anymore  as it used to be before. That shows that cryptomarket is becoming healthier. To reduce dependency to btc more trading pares should come I believe. There was a news that bitfinex(if I am not mistaken) is opening trades using EOS. That is one more step to what the topic maker wish for

Wont be happening because most of the altcoins are being paired with bitcoin and they are all being measured using satoshis,most of the coins wont surivive in the future because they dont have any good working product/services,when bitcoin's value skyrockets again most of these shitcoins wont have any chance to grow or to have more value.

I think that this is quite real. But still it will not be soon, as Bitcoin is still the head of the Crypto currency. Until there is some sort of altcoin that will cost just like Bitcoin, it's more technological and popular.

Not anytime soon I think.  A lot of people still depend on bitcoin to predict and speculate trends.

Whether it's a good or a bad thing depends on you. ;D

I think it won't happen that altcoin can be independent of bitcoin movement because a lot of share holders, investors and users who will preparable in investing product to be working by pre-earner that makes it known in the community with much anticipating higher price volatility compared to the lower price volatilty. Makes altcoin depends on bitcoin movement.

Basically, alternative coin price go the same track with bitcoion simply because the exchanges use it as a primary currency for coversion. Bitcoin also becomea the basis because it has become the one of the best established coin. Its like doklar in the traditional currency, where prices are all based. There were coins that are not dependent on bitcoin, those coin maybe established already or centralised unlike bitcoin which is not.

It is not altcoins decision to be dependent of Bitcoin's prize. It is the investors who make this dependency. If they stop following Bitcoins trend with their altcoin holdings market will be different. But I am afraid that this will never happen.

I think will be changed when other altcoins have an enough capitalization market to contrast the number 1 coin as now the BTC, but this year will be more new altcois or icos that will be very huge in terms of capitalization.

Often enough to see this year a grat changing in this way, maybe next year will be more strong the altcoins market, just waiting and see

Mmm its a good analysis.. so Coin values are just Linked to speculation and not in tecnology behind project itself..thats why usually hype and rumors boost Coin values.