silverbox (OP)
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June 18, 2016, 06:10:21 PM |
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Cause you know all that Eth being sold is parking in BTC...
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MatTheCat
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June 18, 2016, 06:19:50 PM |
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Cause you know all that Eth being sold is parking in BTC...
Yep..ETH and BTC have inversely correlated for months now.... I have however, yet to hear a good explanation as to why this is the case. Why does people selling ETH for BTC, which are sitting on an exchange, after someone has already bought the BTC with USD; have to result in people trading in BTC for USD? This does not make sense. |
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zby
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June 18, 2016, 06:38:12 PM |
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For any outsider the ETH crash will be a warning before investing in BTC. I think we'll have less in-flowing money because of it.
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killerjoegreece
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Professional Native Greek Translator (2000+ done)
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June 18, 2016, 06:41:20 PM |
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keep in mind that some of these eth are going to become usd directly
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European Central Bank
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June 18, 2016, 06:42:23 PM |
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I guess the biggest eth volume is on Poloniex. I'm sure alot of btc is heading back to wallets. The rest is going into other alts. there's some big fat minuses on there and some crazy gains today.
I think the effect is gonna be relatively neutral.
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Jhanzo
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June 18, 2016, 06:46:57 PM |
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For any outsider the ETH crash will be a warning before investing in BTC. I think we'll have less in-flowing money because of it.
For ignorant outsiders, maybe. But not for those who can do their own research. keep in mind that some of these eth are going to become usd directly
I agree. Instead of getting btc with lower prices and risk getting burned twice (quite a few altcoiners doesn't believe in bitcoin) they might choose to cash out directly and not invest further. |
Trusted an exchange that climbed to the top 3 in just under 2 years with your money? you are fucking stupid.
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RyNinDaCleM
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Legen -wait for it- dary
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June 18, 2016, 06:49:47 PM |
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Why would the BTC/USD price rise from crypto to crypto trade? Does not compute... Except the case where now, money that would have gone into ETH might be diverted to BTC
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DodoB
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June 18, 2016, 07:09:39 PM |
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Why should it have an effect? they are 2 separate currencies,and i don't think etherium is that popular..
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talks_cheep
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June 18, 2016, 07:11:20 PM |
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Ever since ETH started crashing, I noticed some alts have started gaining. Some of these alts have languished for the last few months and suddenly they are increasing, like 25%, overnight.
My point is not all ETH is converted to BTC, some are going to alts.
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silverbox (OP)
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June 18, 2016, 07:26:01 PM |
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Why would the BTC/USD price rise from crypto to crypto trade? Does not compute... Except the case where now, money that would have gone into ETH might be diverted to BTC
Peeps buying BTC with Eth reduce the Supply of BTC on the exchanges. Thus, less BTC for new fiat to chase. |
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HarryKPeters
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June 18, 2016, 07:29:48 PM |
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Ever since ETH started crashing, I noticed some alts have started gaining. Some of these alts have languished for the last few months and suddenly they are increasing, like 25%, overnight.
My point is not all ETH is converted to BTC, some are going to alts.
Peercoin and namecoin did get a good boost, but it seems just temporary. Eventually when the price of bitcoins start going up those coins are sold as quickly as they were bought. |
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Iceborn
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June 18, 2016, 08:47:51 PM |
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Ever since ETH started crashing, I noticed some alts have started gaining. Some of these alts have languished for the last few months and suddenly they are increasing, like 25%, overnight.
My point is not all ETH is converted to BTC, some are going to alts.
Peercoin and namecoin did get a good boost, but it seems just temporary. Eventually when the price of bitcoins start going up those coins are sold as quickly as they were bought. Those coins go up all the time when bitcoin is going up. I did check the charts and did not find any pattern however. Seems all the coins are in their usual flow? |
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d5000
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Decentralization Maximalist
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June 18, 2016, 09:41:05 PM |
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For any outsider the ETH crash will be a warning before investing in BTC. I think we'll have less in-flowing money because of it.
That's what I'm fearing too, although the media feedback of the hack until now was limited. In this case the hack had exactly nothing to do with Bitcoin, only that a blockchain was also involved. The problem lies in the possible complexity of the smart contracts because of the turing-complete programming language. But every time a hack occurs in crypto-land, Bitcoin is associated with scams and other dubious activities. Most people won't invest in such a risky asset. That's why I already "called the peak" in another thread. The last BTC upswing seemed to have stopped at the same level as the previous high, so a "double-top" may be forming. It's obviously possible that the bull run continues a bit more, but mid-term I think the rally is coming to an end. And as already was said, not all ETH have to be exchanged to BTC. They can be exchanged to USD directly or - even worse for the BTC price - to BTC and then directly to USD. |
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The Sceptical Chymist
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Cashback 15%
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June 18, 2016, 10:18:00 PM |
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Why would the BTC/USD price rise from crypto to crypto trade? Does not compute... Except the case where now, money that would have gone into ETH might be diverted to BTC
Peeps buying BTC with Eth reduce the Supply of BTC on the exchanges. Thus, less BTC for new fiat to chase. I would think the hack news about ETH has a lot to do with the drop. ETH was holding its own for a while, and bitcoin was rising then, too. This whole DAO incident caused ETH to tank. That's how I see it. Not sure it has a lot to do with btc/ETH pair trading. |
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RyNinDaCleM
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Legen -wait for it- dary
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June 18, 2016, 11:10:57 PM |
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Why would the BTC/USD price rise from crypto to crypto trade? Does not compute... Except the case where now, money that would have gone into ETH might be diverted to BTC
Peeps buying BTC with Eth reduce the Supply of BTC on the exchanges. Thus, less BTC for new fiat to chase. Not exchanges like polo that has no usd market. They also had absolutely massive volume in the dump. |
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criptix
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June 19, 2016, 12:21:37 AM |
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Why would the BTC/USD price rise from crypto to crypto trade? Does not compute... Except the case where now, money that would have gone into ETH might be diverted to BTC
This. The btc/eth trading pair doesnt matter for the question. It has to go eth/fiat -> fiat/btc - but personally i dont think it will happen on a big scale. |
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WaffleMaster
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June 19, 2016, 12:27:04 AM |
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Cause you know all that Eth being sold is parking in BTC...
Yep..ETH and BTC have inversely correlated for months now.... I have however, yet to hear a good explanation as to why this is the case. Why does people selling ETH for BTC, which are sitting on an exchange, after someone has already bought the BTC with USD; have to result in people trading in BTC for USD? This does not make sense. When Bitcoin goes up in theory all altcoins should go down. It doesn't happen always, but when people see they can trade their alt coin for $750 worth of Bitcoin instead of $600 they usually sell their alt coin to go into Bitcoin and sell the Bitcoin. During rallies however, people are not so ready to sell so it doesn't cause much downward pressure. I hope I made some sense in this lol  |
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Affilate User
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June 19, 2016, 12:33:28 AM |
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prepare all your bitcoin for buying ETH , then wait 1 month , easy 1500% "maybe"
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justspare
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June 19, 2016, 01:51:38 AM |
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Everyone thought that ETH was going to overtake Bitcoin and I guess that failed miserably. Bitcoin rose quite a bit already but it is now stuck at $750. I hope it keeps going up.  |
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Sniper44
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June 19, 2016, 02:49:01 AM |
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For any outsider the ETH crash will be a warning before investing in BTC. I think we'll have less in-flowing money because of it.
this doesn't even make any sense! any outsider! doesn't even know about ethereum before bitcoin. so if they hear about cryptocurrencies they are going to hear about bitcoin first and then here that there is this one other thing called and alt(shit)coin which is being pump and dumped and there is a lot of spam that says it is good (while it really is not) besides if an outsider is that ignorant let them take a warning and stay away, one panic seller less in the market is better. good riddance  |
to the moon with bitcoin...
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