Price of the bitcoin will be affected for the price of altcoin?

[john2231]

Hello i would like to ask if there's effect for the altcoin if the price of bitcoin is increasing?
If the price of bitcoin is increase altcoin price should be decrease?

What do you think guys?

[1714018207]

1714018207

[DonMarco]

Hello.

I think that most of altcoins will drop in price. Only good alts should keep same price.
You need to know that if some ALT cost now 0.10$ or example 0.000155 BTC it's gonna stay same but if price goes up to example 800$ this 0.10$ in BTC will be about 0.00013 BTC which means alts gonna be worth same in $ but less in BTC ( ALT/BTC )
Some of alts can go up as lot of ppl will switch off miners to other altcoins which allow ASIC miners. Now the think is just to find this alts

[kiklo]

Hello i would like to ask if there's effect for the altcoin if the price of bitcoin is increasing?
If the price of bitcoin is increase altcoin price should be decrease?

What do you think guys?

Depends on the people holding the Alt coins, if they value BTC or Fiat more they sell to take advantage of the increase.
(If mostly traders own the coin , it will follow the path that earns them the most fiat.)
If they value the Alt more , they hold and their $ price will increase even if the BTC value stay constant.

Also PoW coins their is little point to holding them as it gains you nothing.
Proof of Stake coins however, the more you sell the less you can make in the future.
(It would be like a PoW miner selling his asics.)


 

[arseaboy]

for me it will mate as many of holders only cares to profit and not to look for the better future ahead of an alt coin that's the reason most of alt right now is dying because of this fluctuation of btc price, if you think that the alt you hold have many future ahead it is the perfect timing to buy more.

[WayToGo]

It si true that the BTC conversion falls, but the $ value of good alts remain unchanged with the BTC price increase.

[nururochac]

Hello i would like to ask if there's effect for the altcoin if the price of bitcoin is increasing?
If the price of bitcoin is increase altcoin price should be decrease?

What do you think guys?

For me it's yes, because if altcoin's value is dependent on a fiat then if bitcoin increase value in fiat then the altcoin will decrease its value when it is converted to bitcoin form.

[MicroGuy]

Hello i would like to ask if there's effect for the altcoin if the price of bitcoin is increasing?
If the price of bitcoin is increase altcoin price should be decrease?

What do you think guys?

When there are rapid and drastic increases in the price of bitcoin, the altcoin markets generally follow, especially low volume markets.

This is because altcoins are paired with BTC on the exchanges and priced relative to the bitcoin price. Therefore, unless market participates make adjustments in their market orders, the altcoin price moves higher along with the bitcoin price.

~~

[ArticMine]

...

When there are rapid and drastic increases in the price of bitcoin, the altcoin markets generally follow, especially low volume markets.

This is because altcoins are paired with BTC on the exchanges and priced relative to the bitcoin price. Therefore, unless market participates make adjustments in their market orders, the altcoin price moves higher along with the bitcoin price.

~~

Actually during the Bitcoin booms of 2013 the price of many alt-coins increased sharply in terms of Bitcoin. In effect many alt-coins became a leveraged play on Bitcoin.

[Nxtblg]

...

When there are rapid and drastic increases in the price of bitcoin, the altcoin markets generally follow, especially low volume markets.

This is because altcoins are paired with BTC on the exchanges and priced relative to the bitcoin price. Therefore, unless market participates make adjustments in their market orders, the altcoin price moves higher along with the bitcoin price.

~~

Actually during the Bitcoin booms of 2013 the price of many alt-coins increased sharply in terms of Bitcoin. In effect many alt-coins became a leveraged play on Bitcoin.

Well, it depends on how many folks buying Bitcoins for fiat get interested in the altcoin world. There still are lots of Bitcoin maximalists out there...

[amacar2]

Yes you can see the current bleeding in altcoin market in poloneix to see this as proof, but it is better oppurtunity to bag hold alts at this dip and you will see more than 10% usally in all most traded alts even if price of bitcoin go down by 5 to 6% within few days.

[ArticMine]

...
Well, it depends on how many folks buying Bitcoins for fiat get interested in the altcoin world. There still are lots of Bitcoin maximalists out there...

I will let the market data speak for itself. here are some examples:

Litecoin:
https://coinmarketcap.com/currencies/litecoin/#charts
Namecoin:
https://coinmarketcap.com/currencies/namecoin/#charts
Peercoin:
https://coinmarketcap.com/currencies/peercoin/#charts
Even Freicoin:
https://coinmarketcap.com/currencies/freicoin/

Now compare the above with the chart for Bitcoin:
https://coinmarketcap.com/currencies/bitcoin/#charts

My take if Bitcoin moons having some exposure to alts may be a very good thing, especially those alts that are somewhat similar to Bitcoin.

[BitEmissary]

That is right, ArticMine. Around November 2013 when bitcoin was skyrocketing there was a "rising tide lifts all boats" sort of effect. So the same thing might happen during the next bitcoin moon event. But this time around there are many more altcoins, so do you think most alts will benefit from the "rising tide" this time around? Or maybe just the more prominent ones such as those that rose in 2013 like Litecoin, Namecoin, etc?