Why ETH price drops if BTC drops but doesn't increase if BTC goes up?

[rremus91]

I've been watching charts for the past couple of hours and BTC price reached ATH but ETH price doesn't even moved. Suddenly BTC price dropped and ETH price dropped as well. Why doesn't go up with the price increase of BTC?

As I expected, if you want to exchange crypto to crypto, BTC <-> ETH, if the price of BTC goes down, the price of ETH goes up and if the BTC goes up, the ETH goes down. But why the fiat to crypto value doesn't goes change as well?

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[dadach]

ETH and everything else is an altcoin, and it will not hold up like BTC in the long run.

[odolvlobo]

There are lots of possible reasons:

1. Coincidence
2. Confirmation bias
3. Survivor bias.
4. Misinterpretation
5. Over-generalization.

[krishnapramod]

I've been watching charts for the past couple of hours and BTC price reached ATH but ETH price doesn't even moved. Suddenly BTC price dropped and ETH price dropped as well. Why doesn't go up with the price increase of BTC?

As I expected, if you want to exchange crypto to crypto, BTC <-> ETH, if the price of BTC goes down, the price of ETH goes up and if the BTC goes up, the ETH goes down. But why the fiat to crypto value doesn't goes change as well?

1. Bitcoin is correlated to all other cryptocurrencies. And this correlation is positive to a very small extent, but mostly negative. It means when bitcoin price increases, price of some alts tends to increase as well, but when bitcoin price drops, almost all major alts follow the same pattern.

2. As far as BTC and ETH is concerned, the same above pattern, but this pair is also somewhat inversely correlated, one goes up, other goes down, one goes down, other goes up.

3. Why Fiat to crypto value doesn't go up? Simply because it depends on Fiat/bitcoin to Fiat/ETH trading volume. Crypto/crypto trade, no impact on Fiat.

[cozytrade]

We doesn't know what is the reason why ETH didn't pump if bitcoin goes down. As what as i've now in  trading even if bitcoin is rising also altcoin have been rising too, it's so nice to see that their rising too because many peoples saying that if BITCLIN goes up then ALTCOINS goes down right?

[wojak]

We doesn't know what is the reason why ETH didn't pump if bitcoin goes down. As what as i've now in  trading even if bitcoin is rising also altcoin have been rising too, it's so nice to see that their rising too because many peoples saying that if BITCLIN goes up then ALTCOINS goes down right?

It is rather simple, if I will invest in some coin - it drops, if I will decide not to invest, or get money back, it will raise. It is obvious

[kynaz]

I think people are recognizing Bitcoin more valuable than Ethereum so they sell Ethereum to invest in Bitcoin. This makes Bitcoin prices continue to rise and make Ethereum prices drop dramatically.

[berrygood]

There are lots of possible reasons:

1. Coincidence
2. Confirmation bias
3. Survivor bias.
4. Misinterpretation
5. Over-generalization.

and you cannot calculate their effects on a coin so you can't predict what will happen, candlesticks don't work, you can first work on these factors which make new candlesticks.

[leopard2]

nonsense

one word:

ICO's

...too many people spend ETH for tokens and these companies are happily selling ETH for fiat...

it is a sign of incredible strenght that ETH has returned to $300 despite the heavy large volume selling....

[superskillz]

nonsense

one word:

ICO's

...too many people spend ETH for tokens and these companies are happily selling ETH for fiat...

it is a sign of incredible strenght that ETH has returned to $300 despite the heavy large volume selling....

Agree with you completely. Too many ICOs that essentially inflate the money supply. Fiat comes in for eth and then goes to those tokens. At some point, people will get smart and demand more of a finished product and strategy than just a sexy looking web page.

Speaking of which, I am doing an ICO for a coin that makes sexy looking web pages. Are you in?

[wenzuo]

I've been watching charts for the past couple of hours and BTC price reached ATH but ETH price doesn't even moved. Suddenly BTC price dropped and ETH price dropped as well. Why doesn't go up with the price increase of BTC?

As I expected, if you want to exchange crypto to crypto, BTC <-> ETH, if the price of BTC goes down, the price of ETH goes up and if the BTC goes up, the ETH goes down. But why the fiat to crypto value doesn't goes change as well?

eth has so many problems that it need time to repair and update, btc go through 8 years and the deep dump market last month tell many new people that btc is still the king

[QFT]

Always hacks with ethereum, lot's  of scandals, and not truly decentralized (dao push update through)

[Kanine Awe]

Ethereum is newer and not as well known.  People are holding up "Buy Bitcoin" signs in public places, but I haven't seen buy eth ones.  So I think it will take some time for eth to be independent.

[Pasutinmeur]

nonsense

one word:

ICO's

...too many people spend ETH for tokens and these companies are happily selling ETH for fiat...

it is a sign of incredible strenght that ETH has returned to $300 despite the heavy large volume selling....

Agree with you completely. Too many ICOs that essentially inflate the money supply. Fiat comes in for eth and then goes to those tokens. At some point, people will get smart and demand more of a finished product and strategy than just a sexy looking web page.

Speaking of which, I am doing an ICO for a coin that makes sexy looking web pages. Are you in?

and don't forget the miners still able to mine ethereum, i hope the ethereum will be turned into the pos system that will have implemented the plasma update as soon as possible. the ico just try to divided the market capitalization of ethereum itself.

[xaxistech]

nonsense

one word:

ICO's

...too many people spend ETH for tokens and these companies are happily selling ETH for fiat...

it is a sign of incredible strenght that ETH has returned to $300 despite the heavy large volume selling....

Agree with you completely. Too many ICOs that essentially inflate the money supply. Fiat comes in for eth and then goes to those tokens. At some point, people will get smart and demand more of a finished product and strategy than just a sexy looking web page.

Speaking of which, I am doing an ICO for a coin that makes sexy looking web pages. Are you in?

Yes i think that is one of the main reasons, now if you take a look at the bounty campaings section on this forum, they all pay with ethereum tokens, all the new icos are ethereum based, they use that protocol because it is more easy to create, this could be one of the cases why ethereum is not following the same pattern as btc atm.
but in the last days ethereum had an increase of a 80% after the aug1 meassure.
so it depends on how is the market in that moment.