Relation NEO to Bitcoin

[Mett33]

What relation have NEO with Bitcoin, because most trade with bitcoin was made NEO/BTC last days.

Neo go up for 5x since fork was made.

I can't understand that jump of Bitcoin and other crypto stay, looks like big manipulating spoofy way.

[talkbitcoin]

there is no relationship between these two.
whenever altcoin market is down and everything is getting dumped (like what is happening right now) it doesn't happen to all the altcoins. there are always some of them that are being pumped against the general trend.

it is also possible that the reason is because there is no NEO/USD market. there are only NEO/BTC and a couple of smaller markets with CNY and USDT which only have 5% of total volume.

[swissgang]

There is no relation between them and neo is not a competitor of bitcoin, it is exchanged for bitcoin because almost all coins are exchanged for btc and eth most.

[Ctn]

What relation have NEO with Bitcoin, because most trade with bitcoin was made NEO/BTC last days.

Neo go up for 5x since fork was made.

I can't understand that jump of Bitcoin and other crypto stay, looks like big manipulating spoofy way.

There is no specific relation between NEO and bitcoin. Neo is just another alt coin which is behaving as the market of bitcoin is moving. The NEO/BTC pair is not new, almost all the altcoins are paired with bitcoin because everyone wants to earn bitcoin which can be earned by selling the altcoin. NEO just got invested because to was around 5 dollars at the movement of hard fork and when the hard fork was happening people were finding back up source to store the bitcoin and NEO was best project to do this. That was just another factor that pumped this coin and another was its publicity and public support really.

FYI: me too invested in the NEO at the hard fork that why I'm close to this topic. :-)

[kryptqnick]

What relation have NEO with Bitcoin, because most trade with bitcoin was made NEO/BTC last days.

Neo go up for 5x since fork was made.

I can't understand that jump of Bitcoin and other crypto stay, looks like big manipulating spoofy way.

I don't see NEO is btc's competitor. It is rather trying to overcome ethereum. The platforms are different, so there is no connection like that. However, I believe it is understandable why we see neo/btc market and not some other one. I believe that's because people mostly have btc and are used to make some operations with it. They just use it as a payment, they don't sell btc because they believe in NEO more, they only want to store some neo and feel more safe buying it for bitcoin than for fiat.

[Ethereuming]

NEO have relation with GAS...

[BitcoinsGreat]

People find correlations between any coin and Bitcoin for a simple reason. If you're going to be investing or going to be Trading, you're starting with Fiat. Nobody wakes up in the morning on their first day of trading or investing and magically has Bitcoin.

[noormcs5]

People find correlations between any coin and Bitcoin for a simple reason. If you're going to be investing or going to be Trading, you're starting with Fiat. Nobody wakes up in the morning on their first day of trading or investing and magically has Bitcoin.

So you start with Fiat and deposit into one of the exchanges, now you're faced with the fact that you can't just buy any coin with US dollars. The exchanges are set up so that a finite number of major coins can be traded for the Myriad of smaller coins on those exchanges. You can almost count on Doge, litecoin, and Bitcoin.

[JohnBitCo]

Some exchanges don't even use anything but Bitcoin to change for smaller coins. So this is where the correlation come from, in order to invest in another coin, your investment Trail is going to be Fiat, to bitcoin, to other coins, back to bitcoin, and finally Fiat back out.

[electronicash]

ask the Chinese how these two are related after all they are trying to rule BTC and they also started NEO in the first place. once the price of bitcoin spikes up, NEO crumbles and vice versa. but this also happen to most coins. but i think  there are several of traders wanting to have NEO. because its cheaper and there is the chance to reach more like eth.

[mrayazgul]

Some exchanges don't even use anything but Bitcoin to change for smaller coins. So this is where the correlation come from, in order to invest in another coin, your investment Trail is going to be Fiat, to bitcoin, to other coins, back to bitcoin, and finally Fiat back out.

Also, people know that if they have funds they want to continue to trade with they are safe to turn those into Bitcoin and let them sit for a few days or even a week or two. These days all the altcoins are down and so for those who are in Neo / Bitcoin market has to wait until bitcoin price is settled and people start investing again in altcoins.

[Celebrity]

People find correlations between any coin and Bitcoin for a simple reason. If you're going to be investing or going to be Trading, you're starting with Fiat. Nobody wakes up in the morning on their first day of trading or investing and magically has Bitcoin.

This is right, taking the fiat as the central reference of our trades is more accurate than taking bitcoin as the reference. NEO/BTC is just a pair, this doesn't mean NEO is linked to bitcoin. Pairs can be created with each of the coins.

[withche.07]

There is no relation between Bitcoin and NEO. Neo is just newcame speculated coin with high expactations. Bitcoin is just good old dinosaur. Every other coins says "I am better, this dinosaur is gonna be dead". But noone could beat it till this day.