All coins crashing - are they too linked to BTC

[Inmydomain]

With all cryptocoins taking a nosedive over the past few days, is this showing that where bitcoin goes others inevitably follow?

Will ethereum break free of bitcoin in the near future?

[brokedummy]

nobody knows

[albos]

I am wondering the same about ETH   

[sir.humus]

All markets are down today.
Look at the stock market, look at fiat currencies.
It's just a day like that.
I suppose it has connection to some middle of the month publications,
But let's wait a couple of days, I'm sure there will be a correction to the other direction too.

[HardFireMiner]

With all cryptocoins taking a nosedive over the past few days, is this showing that where bitcoin goes others inevitably follow?

Yes

Will ethereum break free of bitcoin in the near future?

No
A 85% premined coin, pumped massively for 2 years by one entity can't have a bright future.
We know that Vitalik has 72.000.000 ETH from genesis block. We also know that not many people mined ETH in the beginning, by the time it began to be profitable to even pay for electricity, some millions were mined.
Lets assume that Vitalik mined another 5.000.000 ETH till this day, leaving the whole world with 15.000.000 ETH (92.000.000 eth total in existence last time I checked).

Imagine what happens to eth if Vitalik put's out 150.000 eth to sell, 1% of the total eth owned by the world, or 0.19480519480519481 of his own ETH.

Now add a zero to those numbers and see the scam as a whole.

[EXtremeAEX]

I have no idea, you are right, almost all coins in Poloniex all dropped, and I bet those that increased are pumped up. I guess many are selling Bitcoin now, as it looks like it is falling really badly right now, the crash is way to steep and not even a single spike up the past day.

I hope Bitcoin will recover from it, I'm still holding on to all my alts and BTC for now.

[worldmobilecoin]

nobody knows

Yea, nobody know. It's normal price up and down. There are a lot of influence for market price movement.

[2bfree]

With all cryptocoins taking a nosedive over the past few days, is this showing that where bitcoin goes others inevitably follow?

Will ethereum break free of bitcoin in the near future?

I give ETH a bigger chance of crashing the BTC!

[sammart57]

There definitely needs to be a disconnect for alts from bitcoin. It goes down and it drags everything else with it, because everything is linked to it. All transactions in or out of usd usually happen in BTC (though that's starting to change with ETH)

if you could trade usd for whatever alt from these stupid exchanges and bypass btc entirely, it wouldn't be half bad

[ethereumhunter]

i think its not all coins crashing because in market especially in polo, there is still coins that is in green mode and the movement is really good although its not a big volume. for the ethereum, there are no people that will know this is the right time for ethereum or not, because we can not predicting what will happen with the market and we only know when there are any good movements for ethereum. but if this is the right time for ethereum, i think there will be many people that happy to see this because they are holding much of ethereum and they will glad to see the price is increase more.

[olushakes]

With all cryptocoins taking a nosedive over the past few days, is this showing that where bitcoin goes others inevitably follow?

Will ethereum break free of bitcoin in the near future?

No matter how anyone try to undermine the dominance of bitcoin by proclaiming another coin supremacy over it, it does not still removes the fact that whatever happens to bitcoin affects all others and thats exactly what we are seeing now. When the price of alt was increasing along side with bitcoin there lots of threads claiming that they will overtake btc in no distant time and I expect to see them increasing when bitcoin falls in price but disappointed and hopefully to see that happen then I will believe.

[nydiacaskey01]

i think its not all coins crashing because in market especially in polo, there is still coins that is in green mode and the movement is really good although its not a big volume. for the ethereum, there are no people that will know this is the right time for ethereum or not, because we can not predicting what will happen with the market and we only know when there are any good movements for ethereum. but if this is the right time for ethereum, i think there will be many people that happy to see this because they are holding much of ethereum and they will glad to see the price is increase more.

Yes there are still a few who are still in green land but only on a single digit, yesterday there are still few who are in green zone and in double digit like ZEC and ETH, but today, only a few is left in green zone. For some reason when BTC is down Altcoins also goes down. I'm positive that this will pick up again next week.

[JeffBrad12]

With all cryptocoins taking a nosedive over the past few days, is this showing that where bitcoin goes others inevitably follow?

Will ethereum break free of bitcoin in the near future?

The chance of ethereum to take the bitcoin's a place will always be there. But you must try to calculate if the price of every altcoin still pegged with the price of bitcoin itself. If the price of bitcoin gets dumped and the dollar value will get tanked at the same time and it gives the more affect to another coin that makes the price of altcoin goes down. Remember the rule of bitcoin.

[ChinkyEyes]

Damn I almost feel sorry for all the newbies who are panic selling now.

[Inmydomain]

Damn I almost feel sorry for all the newbies who are panic selling now.

Agreed, selling imo is not wise. I am questioning whether to buy ETH or BTC though given how they track together to an extent

[Qunenin]

It is not a direct link between the other coins and Bitcoin.  For the most part, most traders that show up for X coin on the exchanges, they go through BTC on the exchange first, not sure why, or they use BTC as the storage wallet for trading other coins.  That means that when they see the price falling they bail on the exchange and the trades for other coins go down.

[BitcoinsGreat]

It is not a direct link between the other coins and Bitcoin.  For the most part, most traders that show up for X coin on the exchanges, they go through BTC on the exchange first, not sure why, or they use BTC as the storage wallet for trading other coins.  That means that when they see the price falling they bail on the exchange and the trades for other coins go down.

Most exchanges do not make this necessary, you can go from FIAT to whatever coin, but most trust keeping the funds in BTC wallet on the exchange overnight or between trades.

[azotas]

look at this http://5secondsapp.com/5/sec.ond?s=51e9278d835c5055ccec1cf7c4eef08b.gif

[oddwh]

This is when BTC crashes than we realise that BTC is still the most important coin. BTC influences almost every coin, ETH still doesn't even if ETH is going to take the first place.

In the future that could change but currently, nothing has changed

I remember this : 1 BTC = 1 BTC 
That was what people said in 2013~2014 when the big correction was happening

[TravelMug]

If my memory serves me right, Around this month, last year, bitcoin is also down. I also don't know if their is a correlation between altcoin and bitcoin being down currently. I only seen a few FUD going on, so I don't think that it has impact to the price. Or maybe the fire in London might have affected somewhat the faith of investors and don't like what they are seeing so they are cashing it out.