Bitcoin Forum

Most of the speculators before and even now are saying that if Bitcoin goes up, then altcoins goes up as well and good projects perform well. How true are these speculations if there are different technologies or plans for each cryptocurrency? And the fact that bitcoin is not even the first cryptocurrency.

it's not the first, but the most successful one, you don't need to be the first or the fastest to be success,
and it's the natural relationship between coins, it's the value, nothing to do with tech inside, cause investors nowadays don'r really care that much.

Its just the way it works, when bitcoin rises in value other coins will reevaluate as well, bitcoin in the best and it has the larger volume of all, i hope that makes more sense to you

crypto price is often moved by FOMOs, traders and investors dont care wether the technology or plans are different
as long as the sentiment is positive, they would buy as much as possible. that's why most speculators said like that

one thing you should know, altcoins move in a season. it is called altseason
in that season, most of alt would be pump so high

Just look at the prices now.

It's clear that bitcoin is starting to recover as for the alts, they are also. It's not about the technology that we're talking here if it's the prices you're pointing out. The demand has a bigger factor if you're looking at the relation of bitcoin's rise and altcoins rise. But most of the time, it isn't like that.

Have you heard of Bitcoin dominance?
This is because of the Bitcoin dominance, the price of Bitcoin affects the prices of other coins. However, the places where this impact is least observed are usually new projects.

This relationship certainly exists. However, the whole market is not with each other, but BTC(66.1%) and ETH(8.2%) stand in the first place, while others change in accordance with theirs future price changes. Most altcoins in the market do not have a direct price in USD, so their price is calculated by BTC. Accordingly the change in the price of BTC affects others price immediately.

The price of bitcoin does not affect strong projects at all. A typical example: Tokoin. Even when the market is red, their coin in price. https://coinmarketcap.com/ru/currencies/tokoin/ (https://coinmarketcap.com/ru/currencies/tokoin/)

These are not speculations in my opinion, but facts. Always bitcoin goes up, altcoins follow the tendency and show positive fluctuations as well. That is a signal the market is optimistic. And the most benefited crypto currencies are the ones which have the most elaborated features and purposes (maybe I could say technologies and plans in your words), always thinking on the future of crypto currency universe, its improvement, accessibility and performance.
Bitcoin is the first crypto currency, or am I missing anything here?

The simultaneous growth of BTC occurred only with the top altcoin currencies. I don't think it has a big effect on small currencies, especially those that list USDT pair liquidity, it will not have big fluctuations when BTC price fluctuates. The connection depends on the BTC trading pairs

It depends on the project if they are serious about building the project, the performance will be good no matter if the market is dumping badly, so there is a good thing if bitcoin goes up all in the market, it will definitely follow, including the project, they will be excited when they see the bitcoin soar high, but the rise of bitcoin is not as beautiful as before and this only made a brief breakthrough.

Yes indeed, every coin has its own technology as their selling point.
I don't know since when, when viewed from the smallest economic system such as in markets, shops, shows that if there is an item whose price suddenly rises for whatever reason, surely other items will rise in price. Because the seller knows that these items are the main commodities in life. Neither happens in crypto. So this seems to have become natural in a market situation. Technology updates are just an added value to boost when the market is sluggish

Where did you get the idea that Bitcoin is not the first Cryptocurrency when you Google it all points to Bitcoin as the first Cryptocurrency, even Wikipedia has this to sayYou have wrong thinking on this one if you have other information on what is the first Cryptocurrency please inform us.

It's a speculations, rather than that, what I've been seeing for the past years was if bitcoin price goes up, the others will follow behind them. But if bitcoin price falls down, the majority of altcoins will suffered the most more than bitcoin price decrease.

According to wikipedia bitcoin is indeed the first decentralized cryptocurrency. But we might need more research on that one.

It's true.I am in crypto trading from 2017.in my view bitcoin rise that's mean most of the altcoin rise.bitcoin dump others altcoin also dump.There are few good projects which gain high value when bitcoin dump.the percentages low.         

No, i did not think so that if BTC goes up other alt coin also goes up. Before 2018 i also believe that but when i saw in 2018 BTC going up but other alt coin like ETH, LTC, XRP.. etc price going down my believe was demolish. But it is true that BTC is the dominant coin in crypto market and primarily every alt coin price compair with BTC price.

Crypto is indeed like that. Good news or FOMO of someone who has an impact on cryptocurrency can make bitcoin go up and altcoin usually follow it. Bitcoin is not even the first digital currency, but Bitcoin is now the king of Crypto that could make the market's impact would be good or bad following its king. Depends also on demand and supply that can make Bitcoin or altcoins will rise or fall. So speculants can be digestible in our minds if Bitcoin is a good project.

I think you should know that there are investors who choose long-term and short-term investments.
 For long-term, and their difference is, they believe in the technology and products of the project and this will have potential in the future, they don't care about speculation.
 For short-term, as you said, Most of the speculators when the price of bitcoin goes up, altcoin will also go up, They will follow the trend that is happening It depends on the ongoing project and the particular community. IMO
 
Then what facts make you think like this?
please give me information, what is the first cryptocurrency?

Actually my understanding in here is that it is reverse proportional. If bitcoin goes up, alts goes down. That's why we have something we called btc dominance in which bitcoin dominates other coins. This is based on my experience during the bull run last last year and then eventually alts goes up as well. When btc became stable.

What Op has stated is the truth with the cryptocurrency market. When there is progress in the market of bitcoin, the same gets reflected over the market of the rest of the altcoins. This has got proven during the previous pumping years back that gave almost every cryptocurrency its ath value. The same is believed to happen, but there is nothing as time period to experience the same. Someday it happens until then we need the patience to hold.

I agree. What if, If the first crypto was not successful? Do you think this currency still deserve for more respects? We need to respect this kind of tech because it is very successful and it change our currency evolution.

Bitcoin is the first crypto currency and a pioneer that has succeeded in being a role model for new projects today. Each project has its own uniqueness in every use case they create, it all depends on the benefits of their tokens. If they can create a new solution that is very useful for the community, then they can be sure to be a new mover that increases people's enthusiasm. Creating an innovation involving blockchain technology has a strong relationship with the growth of investor interest in cryptocurrency in the future.

Yes, it happens oftentimes but there are also times when altcoins drop-down when Bitcoin rises up. I guess it's just a coincidence that we have to deal with. There will always be speculations and we can't also deny the fact that Bitcoin has a huge impact on the price of altcoins especially when people are spreading FOMO's and is affected by the hype.

But it all depends on who is the person behind the project. If there are big names, the project can be well developed, and vice versa. Because in the cryptocurrency business the players are not far from there.

How true it's can be observed from previous price movement of the market, altcoins tend to follow-up the full steps of bitcoin as it dictate the movement of the market. You might want to argue with the current observation from the market as bitcoin recently tends to noon without carrying the altcoins with it but if you pay close attention you'll observe few selective altcoins are adding price value each time bitcoin price increase (Litecoin is a perfect example).

The phrase doesn't have to reflect all the altcoin everytime but it's a ptoven fact that bitcoin controls the market most especial as altcoins are traded with BTC pairs and it's dominating the market. This is an emotion driven market so a decline in price of the most trusted asset has to reflect on the inferiors. Bitcoin is also the first, decentralized cryptocurrency others before it were centralized digital currency.

the influence of btc pair still often corners the movements of altcoin. this still forms the stigma associated with its users simply because of its position as an alternative.

several times the altcoin chart allows it to go up, but the btc conditions make a reverse change.

In the next few years, I think alt pairs for stable coins will be able to run independently, at this time it is still not possible.

the fact is that Bitcoin simply took a leading position in the market and, according to investors, it is the most reliable asset in this market. For this reason, the Bitcoin price is associated with other cryptocurrencies. if the price of bitcoin rises, then altcoins grow in value against the dollar and the same thing happens if bitcoin falling in its price

Yes, in easy words all tokens on the market have an exchange pair against BTC. And the value of the BTC is associated with USD or other stable coins. So, if the price of BTC/USD goes up or down, of course it will have an impact on other coins.

The thing is that most of these altcoins aren’t paired with fiat but with Bitcoin only hence if Bitcoin’s price go up or down then it would affect them. Although Bitcoin might not be the first but the thing is that it had given itself a name and been the most dominant coin in the market for years now. No coin had been able to lose its dominance even for a second this past few years. The thing is that it is not a speculation and the moment you labeled this as a speculation means that you haven’t familiarize yourself on how the cryptomarket behaves.

Well, the speculation that the price of altcoin goes up when the price of bitcoin goes up is correct. although sometimes in the altcoin-BTC pair the price does not go up, but because the price of bitcoin is rising, the price of altcoin will also go up. it can be seen things that happened in 2017, or the increase in the price of bitcoin in 2019. the dominant bitcoin increase gives the effect of price increases on altcoin, although it is not as good as 2017. But, this does not happen to all altcoins.

That's right, bitcoin is the best right now. I hope there is a new project that can be compete with bitcoin,so that competition in crypto will be exciting.
New investors will come to find crypto to invest their funds and hunt for profit.

well , probably is it.
Bitcoin not the first , but we can see , the first crypto currency still have lacking on many sides.
that why bitcoin is and still the number one on cryptocurrency.
and why bitcoin is number one ?
because its decentralized , yes that right,bitcoin is the first decentralized cryptocurrency.
and actually, what we need it just decentralized, but i guess centralized will take all over.

there will be no new projects that will rival bitcoin besides Ethereum and XRP, if you hear LIBRA,
I myself am not sure if Libra can be as successful as Ethereum later, many lies there, we'll see about that later

The price of bitcoin movement with other altcoins is not as relative as it used to be. The forecast may not be analysed at the moment due the bearish market condition but bitcoin pair for most altcoins has bad influence on the price compared to stable coin pair. The stable coin pair is gaining more adoption but I dont know for now if its a better option to control price until after some months

Typically BTC dominance results in the alt-btc ratio going down, but the alts still increasing in fiat value. However usually that fiat increase is less than whatever btc has increased by. So it's sort of profitable, just not as profitable as holding BTC.

Of course there are exceptions, like 17/18, when alts outpaced BTC. Or when coins do their own rise, such as ETH did years ago.

Over the summer we kind of saw what you referenced though. Alts decreased in both their btc ratio as well as fiat, which was a little odd. Actually alts crashed regardless of which way btc moved, up or down, alts went down in both fiat (not that odd) and their btc ratio (which was a little odd). Perhaps the latter was related to ETH doing poorly, sometimes if ETH does well, alts follow suit.

It takes time for Bitcoin market to rally along Altcoin market. The only time the markets rally along each o her is when there's a massive bull run where money from bitcoin moves to Altcoins market aside this, Bitcoin market moves alone up leaving Altcoins. When Btc moves alts drop in price.

Now market is moving based on news. This particular crash these days is due to Chinese government news. So new projects are affected due to the market conditions as well as trust issues.