Bitcoin Forum

When the crypto market was sky high, we have seen almost the same ratio within BTC and Eth price increase. When bitcoin price was 12K or more, ETH price was 600 USD, Bitcoin hits the 19K USD Milestone and ETH hit 1500 USD! But at this moment, the bitcoin price is 6300 USD plus but ETH pice only 285 USD! So, this ETH downtrend can impact bad effect on bitcoin? We know eth and other coins price ups and downs depend on the Bitcoin. Then what is now?

I do not think ETH can affect the bitcoin price that I believe in the opposite direction, it is a bitcoin that affects the ETH, you can see that lowering the bitcoin price does not only affect the ETH but also makes the price of altcoin fell sharply and currently there is no sign of recovery. You can see that the market is currently in a volatile and long-term bearish trend so that bitcoin prices may continue to decline.

Its possible but for now bitcoin shows some resilience and not following the trend of ETH.
This is a sudden drop of ETH and I hope to see this market grow again. Those who took profit during the recent pump will now buy more coins this time and for sure in the short run, pump will happen again.

ETH does not affect bitcoin at all, just the opposite.
ETH follows the price of bitcoin, when bitcoin goes up ETH also goes up and vice versa. the truth is BItcoin that affects ETH.

first of all the way an altcoin dump (generally speaking) affects bitcoin price is when people dump that altcoin for bitcoin then transfer that bitcoin to their bitcoin exchanges and sell it for fiat there. that creates a sell pressure that brings bitcoin price down also.

so with that said you need to look if these altcoins have the following characteristics:
do they have a fiat market themselves? and which market volume is higher?

in case of ETH, it  does have ETH/fiat like ETH/USD markets so if people want fiat they will dump it for fiat not bitcoin. but lets see if they are using these fiat markets or not.
according to https://coinmarketcap.com/currencies/ethereum/#markets the highest volume belongs to a Tether market (ETH/USDT) and second place goes to ETH/BTC
looking closer you can see the ETH/BTC volume of big exchanges such as Binance is nearly the same as ETH/USD on big exchanges such as Coinbase so it is a possibility.

imagine you are trading on Binance and want fiat. your only option is to either transfer your ETH to the exchange you are using or dump it for BTC and then transfer BTC to sell for fiat.
now the thing is most exchanges nowadays have ETH listed so there is no need for that but now you are facing the problem with ETH network itself. it is started to be congested again as everyone is panicking to sell faster and are transferring their coins AND tokens to exchanges to dump so your other faster option is to use bitcoin.

this is easier to explain for other altcoins as they don't have the ALT/USD markets as ethereum has so the only option is either tether or bitcoin then fiat.

in short i think ETH dump is affecting bitcoin price in a negative way but it is not a major thing but the other altcoin dumps (which is a lot in total) is certainly affecting it.

The fall in ETH prices probably won't have a big impact on Bitcoin. I think it's safer for most people to put their money in Bitcoin because there's no new money coming into the market. The dominance of Bitcoin will be strengthened in the next few months.

It seems right, the ETH is different than the others
the total supply is too large, in my opinion it is very influential on the price of the ETH, because ETH is considered not rare anymore
Last year ETH reached 0.1 BTC / ETH, and now it's only 0.05 BTC, you can buy 1 ETH
then, what makes bitcoin better? because of the bitcoin lag and also the total supply that is very minimal and limited

Now we see that there is a drop in prices for both ethereum and bitcoin. It is difficult to say who influences whom. However, we know that because of the high level of capitalization, bitcoin dominates the price over other types of crypto-currency, including over ethereum. Therefore, we can say that bitcoin with its price reduction affects ethereum. Now really their cost is very low. According to CoinMarketCap, the price of ethereum is 265. dollars, and bitcoin - 5 982 dollars. Virtually no one expected that by the end of summer bitcoin would begin to fall so low and pull everyone along. We hope that this is temporary and by the end of the year we still expect a good recovery of the market.

I also think like that, when the price of bitcoin goes up, altcoin and eth also go up too, or vice versa. If bitcoin has an impact on all coins, then we must keep thinking positively and make others believe that bitcoin is good for the future.

Eth downtrend cannot affect bitcoin unless vise versa, only bitcoin can affects the price of all altcoins in the markets and nothing to deal with vise versa. When bitcoin pump most of the altcoins will soon to pump too. But when bitcoin skyrockets altcoins follows too. Meaning only bitcoin can affects altcoins movement.

Bitcoin is affecting ETH, people withdraw money from coin about USDT. The gold market is plummeting today, so the panic is rising. This is probably the general situation can not change

ETH orice can be correlated to other ALT coins that are using the ETH platform, Bitcoin has been controlling the price of ETH and others from 2011. I do not think that anytime in the history of cryotos, ETH has controlled Bitcoin price.

The dominance of Bitcoin in present market is the best example for you to understand.

Everyone in Cryptos want the ALT coin to behave independently rather than following Bitcoin. Surely it will happen. Till then we need to wait.

They are two different coins with different markets, Bitcoin has that bad impact on Eth but Eth has nothing to do with Btc

Price, why Bitcoin has this impact on every other coin? the answer is really simple, Btc is the only real crypto currency.
You don't need to make others believe that Bitcoin is good for the future, it is on it's own with no doubt.
Eth didn't even exist in 2011.
We could say that Eth has it's own independent market & price but Eth is not really independent from Bitcoin.
Bull shit, Eth can never match Bitcoin's price, that is just bull shit if you think that Eth has any chance to compete with Btc.

ETH can have impact to bitcoin whether it goes down or it goes up. It has impact to its children (ERC20 tokens) but if ETH is being dumped, it looks like it affects the whole market.
Bitcoin has impact if it goes up or down not only to ETH but to other alts as well. We recently saw on how bitcoin went up but ETH and other alts went down.
That's right, sometimes it is inversely proportional to bitcoin.

I don't think so because bitcoin is not dependent on ETH but it's depend on buyer and seller and now a days lots of ETH dump because of many ICO accept payment in ETH and now they dump their ETH so i think there are not any effect on bitcoin.

Reduced ETH levels will not affect Bitcoin, even if the opposite happens, Bitcoin prices affect ETH. You see, bitcoin prices reduce the price of ETH and the Altcoins decreased.

Don't get confused. Ethereum's downtrend doesn't affect Bitcoin's price. It is the latter, ETH can be affected by BTC's price trend and mostly all the other altcoins in the cryptocurrency market. The only coins that are affected by ETH are platforms under it's blockchain and smart contracts. There has been a major dump of ETH aside from BTC's drop. Some ICOs and established coins under ETH platform are dumping ETH to tether up and cut their loss and some are resorting to other platform like EOS because they are faster. ETH has failed and continued to drop drastically because the performance is not the same anymore.

I don't think ETH will have any effect on Bitcoin.

Thats why the are shitcoins. They dont have their own agenda and always depend themselves on the bitcoin market. I used to think that they are both different assets and one progresses according to the project development.

Whenever, I ask individual question in the telegram group of particular project as to "Why your coins price is going down" then admins or team devs responds by saying "Its not us, its the market".

So in general what is market ? Looking at the bitcoin being the strongest candidate, it is itself a market and affects the movement of shitcoins.

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Interesting story about Altcoins here : https://bitcointalk.org/index.php?topic=4885375.msg44002929#msg44002929

on the contrary, Bitcoin affects the ETH.
and ETH has no effect on bitcoin.

it looks like it's not just ETH, but the entire cryptocurrency has experienced a tremendous price decline
I never imagined, taking ETH can go down so drastically, but I am still convinced of the existence of the ETH, because this is a big con that cannot be abandoned

No, they are two different currencies with different markets. I think ETH will not have any impact on Bitcoin. ETH may be affected by the price trend of BTC and almost all other altcoins in the electronic money market.

I think it's the opposite of it. Bitcoin movement can impact bad or good effect on Ethereum. Just wait for a while until Bitcoin get a correction on the market. After that, Ethereum will back go up again. Ethereum will be fine.

I do not think that can happen. Because if you say that, not only ETH but many other Altcoin will affect the BTC. In my opinion, the market capitalization of ETH is not enough to have a negative impact on the BTC but the opposite is true. BTC will have a direct impact on the current Altcoin. When the BTC changes will lead to the market change Crypto. But I do not expect that to happen. By now, the crypto market is experiencing a very low price fever.

the etherium will regain its position and I hope to see 3000 dollars for one coin, but bitcoin will still remain the main coin on the market

I think ETH is the one who is relying on bitcoin, ETH can't have a bad effect in bitcoin because bitcoin really goes down for a reason, which is, we really don't know exactly what is it, but I am sure that it will take its price back but not now, maybe for the next month or next year, let's just wait more and be patient.

BTC price is not down due to ETH price down, BTC price is down due to ETF delay, do not worry its good time for you to buy bitcoin. In September when EFT approved bitcoin price will shoot up. When Bitcoin price decreases that cause other coins price to decrease because exchanges used bitcoin pair with other coin. When ether price decreases that decreases the price of ERC20 tokens not bitcoin. 

Looking at the previous ATH of Bitcoin and ETH, you might think that there are a close correlation, but it is not entirely true. I

think a lot of new people are made aware of Crypto currencies, when the Bitcoin price goes up and then they start investing in

something that are close to or have potential to give them high profits in the future. So for me it is just a heightened

awareness of Crypto currencies in general, that influence the price of most prominent Alt coin, when Bitcoin is doing well.  ;)

We could that they are connected in each other as we are in blockchain technology. Besides, all altcoins are mainly depending on BTC market which means that all their prices varies as BTC fluctuates. We can see all altcoins are dropping as BTC drops again and of course, once it goes up alts also will follow.

now is the time to stay on TUSD and wait for the coin to fall really, after the price really falls, please shop as much as you want and wait for the price to rise again because I am very confident that crypto's future will not stop here, it will return as before

Bitcoin prices have been stable for some time recently, but ETH has fallen sharply, which may have a lot to do with the sluggish ICO this year, as demand for ETH has been declining. I think this will not affect the bitcoin, but will encourage more people to choose bitcoins.

Bitcoin is a more speculative tool. He has more liquidity than other cryptocurrencies. Demand for Bitcoin and Ethereum is due to various reasons. The rise in the price of the Ethereum depends on the demand for developing DApps on this platform and to a lesser extent on speculation.

what I see is the decline in the price of the ETH cannot give effect to bitcoin. because in the world of crypto Bitcoin is the most powerful coin and is able to influence other coins and is not affected by other coins.

I don't think there is an impact on bitcoin of the downfall of eth but I guess if there is it is not that kind of high. So, the real reason why bitcoin is down is because of the etf.

But the only use for Ethereum that we've seen in the real world, has been the one which basically raised money for ICOs. Other than that, there's no evidence of remarkable usages of Ethereum which have had an impact at any relevant levels.

Meanwhile the Ethereum blockchain keeps growing into what seems an unstoppable clusterfuck. Vitalik still fails to give us an explaination on what he has on mind other than "Casper is coming soon". Oh and don't forget about the PoS hardfork. I really want to see that one play out.

I do not think ETH can affect the bitcoin price that I believe in the opposite direction.Bitcoin not only affects the price of Eth but also affects the price of the altcoins. I am worried about the price of Eth more, the price of Eth is now  230$. It seems that Eth's competitiveness is decreasing with coin like EOS or NEO ...

Not at all, because ETH is declining so the new BTC coin has the potential, and many have abandoned ETH to move to BTC, so I think the ETH decline is the premise for BTC to develop.