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Why are these three cryptocurrencies simultaneously dropping in similar patterns?
I've been watching them for a few days now on my phone, and even the graphical charts are showing massive similarities in the rise and fall of the cost, but the overall cost per coin is dropping and there's no indication online as to why this is happening...
Your observations needs correction at least magnitude wise. To begin with bitcoin, ethereum, LTC drop simultaneously. It does not happen that way. Check the graph of bitcoin over last couple of years. You will notice that the growth and swings shown by the bitcoin are very different. bitcoin has grown from 1200 dollars to 8000 dollars so far. In mean time bitcoin price plunged to 3300 dollars from 4900 dollars. It recovered and reached to what it is today. Now check other crypto like ETH and LTC are at. ETH is around 400 dollars and LTC is at 72 dollars. Ethereum has already touched the 350-400 dollars club then it touched 201 dollars when bitcoin was at 3300 dollars. LTC also faced same pattern. Difference is in magnitude. Bitcoin is a numero uno crypto currency which holds more than 70% or crypto currency capital. Everyone trust in bitcoin. Thus when bitcoin is on roll (rising prices) other crypto will find some dip in price. After price of bitcoin become stable or correction starts price of other crypto starts increasing. Investors in the alt-crypto do this all time. When bitcoin price falls all other crypto also tend to lose their value as well. because of fear. Does anyone have any news articles that describe why these three currencies are all falling in price at the same rates? It can't just be a case of "investors are selling their coins", because the patterns are almost identical at some points across three currencies - the odds of that happening at the exact same time, for the exact quantity of coins to be sold to equal the exact same drop are probably somewhere in the 1:1000000 range.
Everything I've read so far indicates Litecoin will rise in 2018 hitting $300-400 mark, but at the moment it's on a downward change with no real explanation as to why..?
There are no such articles to show why it is so. If you follow the bitcoin and other crypto from their genesis then you will understand this behavior. LTC may hit 300$ mark. People were also claiming that bitcoin-cash is failure but look it is at 1200 dollars. And ethereum is on rise again. You seem to be the only person that gets that I'm not making predictions, but I am trying to understand the correlation. Granted I accept that over the year, the coin charts look very different, but I was monitoring the graphs on a daily basis (over the current day) and the peaks and falls were at the exact same time stamps. This is what was confusing me. If I were to make predictions, I could see Litecoin hit £100 per coin (I'm from the UK) by around March next year on its current trend. Ethereum I would expect to continue to rise due to the vast amount of tokens becoming available which has a lot of people buying ETH in advance, which in turn should continue to grow the coins value at a steady rate. BTC on the other hand, I have no idea. It's the biggest coin and has a sort of monopoly over the market, so the more people get into cryptocurrency the more the coin would in theory grow in value. |
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Aside from my post made these past few days about that decreasing rates of bitcoin. I clearly see some token like ETH decreasing as well this past days as well but today when reading your topic questions pop into my
Why is it clearly weird right this tokens that OP is talking this three token BTC, LTC AND ETH are dropping and increasing? but not in the same value okay.
All I see the reason here is the bitcoin cash, do you think Bitcoin cash is clearly the reason?
If I'm understanding you correctly, yes, it would appear that BCH is directly responsible. What I can't understand is how the graphical lines are so alike. It's like 100,000 people decided to get together and say "right, lets sell 20% bitcoin, 20% Litecoin and 20% Ethereum at the exact same time... ready? go!" I've abstained from making any transactions this weekend due to the fluctuations and that no one really knows why any of these are fluctuating the way they are. |
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Where did you read litecoin will be hitting such value?
I read 3 or 4 articles from different sources saying that they expect Litecoin to improve as they have a "floorplan" that stretches out until 2020 to keep the coin active and stable. Obviously it's all speculation, but $300-400 was referenced multiple times for 2018 - so unless the same author published articles for multiple sites, it seems to be a forming consensus. Its been posted in the forum that there is coming bitcoin price corrections in which bitcoin price will fall, then i think this is it that the posted was for real because when the segwit2x was postponed it should be in favor of BTC to increase but instead the result was opposite in which bitcoin value is now falling. Ehereum also has its own problem in which ETH is now in controversies of hacking issue in which the latest was the hacked of Parity wallet. For Litecoin ,sorry but since the start i don't choose any altcoins other than ETH.
Yeah, I read the news on Ethereum sites for the hacking issues, however I would have expected two unrelated events across two currencies (BTC + ETH) to react independently of one another, not have almost mirror image peaks and dips when you look at it on a 24 hour scale. |
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Well what I think is that , people were looking to invest in segwit2x thus they were selling off everything they had to invest in bitcoins.
Thus etherum and litecoin showed a massive decline in their prices.
Now people were investing in segwit2x so they choosed to hold their bitcoins here but now .. simce segwit2x ia called off.. suddenly the bitcoin bubble brusted.
Now those investors are selling off their bitcoins as well because no hard fork means no free money and no need to hold bitcoins, since they were looking for some quick money now they are investing in other cryptocurrencies.
Maybe it's the usual game of whales. Just this time they chose another object. All used in such moments, the price rose etherum and litecoin. Now they have changed tactics. In any case, I'm sure that the main object for investment remains bitcoin. Take some time and bitcoin will rise again. Without it will not work the rest of the circuit. According to one of the above articles I posted, even Bitcoin founders are saying they'll likely be moving over to Bitcoin cash in 2018, which means we really should be looking to invest in BCH. I did wonder why Bitmain (asic developers) changed their shop to only deal in BCH. I dont know where this comes from. But i see that crypyto world is where theres is up and mostly down. Even if bitcoin drop, it has its big comeback. People should not be panicking. Its depend on how people will hold it. I guess it will have its downfall if every bitcoin holder will dump their coins. Ethereum is having a big progression. And also for the ltc.
Don't get me wrong, I believe Litecoin is going to have a large rise in the next few months, I'm just curious as to why Bitcoin has directly and simultaneously affected other cryptocurrencies that aren't related to bitcoin (not even on the same algorithm, yet the percentage dips are almost identical across all three, with slight variations). |
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So maybe this is an amateur question, but isn't BTG (Bitcoin Gold) a fork for Bitcoin to allow for GPU mining again - which in turn creates "free money" anyway? That gets made available tomorrow.
I'm still a little unconvinced as to why the Bitcoin fork for Segwit has affected LTC and ETH, since LTC already has segwit. It comes back to my original question really; why are all three dropping when really it should only be BTC dropping?
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Why are these three cryptocurrencies simultaneously dropping in similar patterns?
I've been watching them for a few days now on my phone, and even the graphical charts are showing massive similarities in the rise and fall of the cost, but the overall cost per coin is dropping and there's no indication online as to why this is happening...
Does anyone have any news articles that describe why these three currencies are all falling in price at the same rates? It can't just be a case of "investors are selling their coins", because the patterns are almost identical at some points across three currencies - the odds of that happening at the exact same time, for the exact quantity of coins to be sold to equal the exact same drop are probably somewhere in the 1:1000000 range.
Everything I've read so far indicates Litecoin will rise in 2018 hitting $300-400 mark, but at the moment it's on a downward change with no real explanation as to why..?
EDIT: I am not making predictions, I am asking about the correlation between these three coins and why they appeared to have the same peaks and falls at the same time over a daily rate.
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Does this mine equihash / Lyra2rev2 / others as well, or is it strictly limited to Scrypt only?
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When is the second batch of these being made in EU distributor?
When I finally found these, they were already all sold out everywhere!
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