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Author Topic: How does Bitcoin affect other Crypto?  (Read 3828 times)
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August 15, 2017, 01:36:43 AM
#1

I have recently been into altcoin trading. I just want to know, does the price of bitcoin affect the price of other cryptocurrencies as well? How? I really want to know. I have noticed that ever since the bitcoin price pumped up and reached 4,000 USD, the price of the altcoins had gone really really low. I almost lost my invesment due to this sudden drop. Does bitcoin price have something to do with this?

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August 15, 2017, 01:46:20 AM
#2

I have recently been into altcoin trading. I just want to know, does the price of bitcoin affect the price of other cryptocurrencies as well? How? I really want to know. I have noticed that ever since the bitcoin price pumped up and reached 4,000 USD, the price of the altcoins had gone really really low. I almost lost my invesment due to this sudden drop. Does bitcoin price have something to do with this?

If you have an idea how forex exchange works then you will have an easy time understanding things. Bitcoin is like the US dollar in forex exchange. Bitcoin is the central currency and has served as a medium of exchange between cryptocurrencies. This implies that in order for us to compute the value of an altcoin we must consider this formula:

1. The value of bitcoin in dollar
2. The price of an altcoin in bitcoin form
3. Multiply the value of bitcoin (1)  to the corresponding bitcoin equivalent or value of the altcoin (2)  then you have the real value of an altcoin.

This implies that the value of an altcoin is dependent on the value of bitcoin in the market.



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August 15, 2017, 01:58:45 AM
#3

Since Bitcoin prices are going up continuously so many traders will pull out their money from other cryptos and start investing in bitcoins that's why we will see altcoin prices will be down when Bitcoin is pumping. But after Bitcoin prices stabilize then we can see the altcoins moving up. But some of the good altcoins like IOTA is still doing good. It was around 0.2 USD couple of weeks back and now price is almost $1. Just need to choose the good altcoin to invest.
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August 15, 2017, 02:43:27 AM
#4

OP you should fix the spelling of the title to "other" it is currently misspelled!

Anyway, historically speaking, altcoins always follow Bitcoin so when they price of altcoins goes up it means likely the price of Bitcoin went up also and usually when Bitcoin crashes then it means altcoins are going to crash too. However this time it seems not all of the altcoins are rising, but probably because there are more now than ever before and not enough people know about them to bother investing when they can just buy Bitcoin and it is a lot safer. Based on that my recommendation is to do your research before investing in altcoins.



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August 15, 2017, 03:25:54 AM
#5

I have recently been into altcoin trading. I just want to know, does the price of bitcoin affect the price of other cryptocurrencies as well? How? I really want to know. I have noticed that ever since the bitcoin price pumped up and reached 4,000 USD, the price of the altcoins had gone really really low. I almost lost my invesment due to this sudden drop. Does bitcoin price have something to do with this?

This happened to me, I saved an altcoin from the ICO results, the first time entering this altcoin market has a stable price, but when the bitcoin price rises ... BOOM, the altcoin falls. This makes me lose. According to my estimates, many investors and traders throw altcoins and transfer their funds to bitcoin. Although not all altcoin has decreased, but there appears to be a bitcoin effect so some altcoin has decreased dramatically.



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August 15, 2017, 03:36:53 AM
#6

I have recently been into altcoin trading. I just want to know, does the price of bitcoin affect the price of other cryptocurrencies as well? How? I really want to know. I have noticed that ever since the bitcoin price pumped up and reached 4,000 USD, the price of the altcoins had gone really really low. I almost lost my invesment due to this sudden drop. Does bitcoin price have something to do with this?

If you look at the last 3-4 months, the price of alts shot up due to all the uncertainty about scaling in Bitcoin. Now with that resolved, a lot of the money in alts is coming back to Bitcoin. That is why altcoins have been dumped real hard.
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August 15, 2017, 03:48:22 AM
#7

I have recently been into altcoin trading. I just want to know, does the price of bitcoin affect the price of other cryptocurrencies as well? How? I really want to know. I have noticed that ever since the bitcoin price pumped up and reached 4,000 USD, the price of the altcoins had gone really really low. I almost lost my invesment due to this sudden drop. Does bitcoin price have something to do with this?

If you look at the last 3-4 months, the price of alts shot up due to all the uncertainty about scaling in Bitcoin. Now with that resolved, a lot of the money in alts is coming back to Bitcoin. That is why altcoins have been dumped real hard.

Indeed, although altcoin has the opportunity to compete with bitcoin, they are not strong enough to be comparable to bitcoin. In just a short time, bitcoin has made terrible breakthroughs, it is completely overwhelmed the altcoins.

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August 15, 2017, 05:02:40 AM
#8

I have recently been into altcoin trading. I just want to know, does the price of bitcoin affect the price of other cryptocurrencies as well? How? I really want to know. I have noticed that ever since the bitcoin price pumped up and reached 4,000 USD, the price of the altcoins had gone really really low. I almost lost my invesment due to this sudden drop. Does bitcoin price have something to do with this?

This happened to me, I saved an altcoin from the ICO results, the first time entering this altcoin market has a stable price, but when the bitcoin price rises ... BOOM, the altcoin falls. This makes me lose. According to my estimates, many investors and traders throw altcoins and transfer their funds to bitcoin. Although not all altcoin has decreased, but there appears to be a bitcoin effect so some altcoin has decreased dramatically.

It was a good thing that I have sold all my altcoins before their prices go all the way down. I am still a newbie when it comes to trading, so this is probably a great lesson and experience for me. Of course I am a bit frustrated for the loss of potential profit. I might have lost a little amount of bitcoins that I have invested in altcoins, but since the bitcoin price increased a lot, I could say that I am still on a breakeven.

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August 15, 2017, 07:10:09 PM
#9

Since Bitcoin prices are going up continuously so many traders will pull out their money from other cryptos and start investing in bitcoins that's why we will see altcoin prices will be down when Bitcoin is pumping. But after Bitcoin prices stabilize then we can see the altcoins moving up. But some of the good altcoins like IOTA is still doing good. It was around 0.2 USD couple of weeks back and now price is almost $1. Just need to choose the good altcoin to invest.
we know hat bitcoins is first of it's kind .
it is the first digital crypto currency to reach he $4K ,
bitcoins can also be known as the mother of all other crypto currency as the success of bitcoins inspired them to form up .
people see other cryptos as the next bitcoins and buy them with bitcoins a an asset that would increase its price in future , and would give them a great profit .
not just the value of IOTA but the price of ETH  and almost all other cryptos increase . well but this is not always that ETH can gain profit , ETH can also go down so you should look at the stats and records then invests in ETH

]
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August 15, 2017, 07:18:45 PM
#10

I have recently been into altcoin trading. I just want to know, does the price of bitcoin affect the price of other cryptocurrencies as well? How? I really want to know. I have noticed that ever since the bitcoin price pumped up and reached 4,000 USD, the price of the altcoins had gone really really low. I almost lost my invesment due to this sudden drop. Does bitcoin price have something to do with this?

If you look at the last 3-4 months, the price of alts shot up due to all the uncertainty about scaling in Bitcoin. Now with that resolved, a lot of the money in alts is coming back to Bitcoin. That is why altcoins have been dumped real hard.
Yes with segwit activated more of the investors are investing their money in bitcoin rather than in altcoins. There have been people who had predicted this already before August 1 and it's mostly the result of investors regaining their confidence in bitcoin and making huge investment which has also affected altcoins and as a result the drop in altcoins prices.
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August 15, 2017, 07:23:48 PM
#11

I have recently been into altcoin trading. I just want to know, does the price of bitcoin affect the price of other cryptocurrencies as well? How? I really want to know. I have noticed that ever since the bitcoin price pumped up and reached 4,000 USD, the price of the altcoins had gone really really low. I almost lost my invesment due to this sudden drop. Does bitcoin price have something to do with this?

If you look at the last 3-4 months, the price of alts shot up due to all the uncertainty about scaling in Bitcoin. Now with that resolved, a lot of the money in alts is coming back to Bitcoin. That is why altcoins have been dumped real hard.
Yes with segwit activated more of the investors are investing their money in bitcoin rather than in altcoins. There have been people who had predicted this already before August 1 and it's mostly the result of investors regaining their confidence in bitcoin and making huge investment which has also affected altcoins and as a result the drop in altcoins prices.

As we see the hype now in btc there's no doubt that btc users were back on trusting btc again. Though alts have still potential on their increase depending on what projext they came from , it's just btc have proven it's ability despite splits and segwits.

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August 15, 2017, 09:32:33 PM
#12

I have recently been into altcoin trading. I just want to know, does the price of bitcoin affect the price of other cryptocurrencies as well? How? I really want to know. I have noticed that ever since the bitcoin price pumped up and reached 4,000 USD, the price of the altcoins had gone really really low. I almost lost my invesment due to this sudden drop. Does bitcoin price have something to do with this?

This happened to me, I saved an altcoin from the ICO results, the first time entering this altcoin market has a stable price, but when the bitcoin price rises ... BOOM, the altcoin falls. This makes me lose. According to my estimates, many investors and traders throw altcoins and transfer their funds to bitcoin. Although not all altcoin has decreased, but there appears to be a bitcoin effect so some altcoin has decreased dramatically.

It was a good thing that I have sold all my altcoins before their prices go all the way down. I am still a newbie when it comes to trading, so this is probably a great lesson and experience for me. Of course I am a bit frustrated for the loss of potential profit. I might have lost a little amount of bitcoins that I have invested in altcoins, but since the bitcoin price increased a lot, I could say that I am still on a breakeven.
You were lucky this time. When you start walking by your own, you will come across many hurdles. But makes your past a lesson not a regret. You will soon recover your little loss. You did not spend any of your bitcoins, so still you have something precious. Do not worry and keep on going. It was a good move to give up on altcoins.

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August 15, 2017, 09:46:16 PM
#13

To me am pretty surprised of what happened when the market value of Bitcoin increases from  $3000 to $4,000 or above, other altcoin were seriously goning down which means the movement of Bitcoin has both positive or negative impact on the altcoin.

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August 15, 2017, 10:20:39 PM
#14

I have recently been into altcoin trading. I just want to know, does the price of bitcoin affect the price of other cryptocurrencies as well? How? I really want to know. I have noticed that ever since the bitcoin price pumped up and reached 4,000 USD, the price of the altcoins had gone really really low. I almost lost my invesment due to this sudden drop. Does bitcoin price have something to do with this?
Bitcoin is also a kind of cryptocurrency. I think, if there's a huge inflation in Bitcoin, there'll be deflation to other cryptos such as altcoins. Maybe, it is because of the reason that cryptocurrency value depends on the market's demand. Whenever Bitcoin is being in demand, the opposite will happen in other cryptos.  All cryptocurrency, I think, is volatile, so this happens often.

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August 16, 2017, 12:07:10 PM
#15

Since Bitcoin prices are going up continuously so many traders will pull out their money from other cryptos and start investing in bitcoins that's why we will see altcoin prices will be down when Bitcoin is pumping. But after Bitcoin prices stabilize then we can see the altcoins moving up. But some of the good altcoins like IOTA is still doing good. It was around 0.2 USD couple of weeks back and now price is almost $1. Just need to choose the good altcoin to invest.
Most of the altcoin if bitcoin is getting higher are dropping there price value, but some altcoin that has a lot of potential also get increase, though some's are Pump and Dump. So better, to be careful of where to invest in, good luck Wink

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August 16, 2017, 12:20:22 PM
#16

If you are trading alt coin with bitcoin, then when bitcoin price is going up then alt coin value will go down, that is because you are using bitcoin as the comparison, bitcoin got a huge effect on altcoin
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August 16, 2017, 12:27:29 PM
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The launch of Recoin Bounty took place. 50,000 tokens will be given to participants.
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August 16, 2017, 12:45:46 PM
#18

I have recently been into altcoin trading. I just want to know, does the price of bitcoin affect the price of other cryptocurrencies as well? How? I really want to know. I have noticed that ever since the bitcoin price pumped up and reached 4,000 USD, the price of the altcoins had gone really really low. I almost lost my invesment due to this sudden drop. Does bitcoin price have something to do with this?
Bitcoin is also a kind of cryptocurrency. I think, if there's a huge inflation in Bitcoin, there'll be deflation to other cryptos such as altcoins. Maybe, it is because of the reason that cryptocurrency value depends on the market's demand. Whenever Bitcoin is being in demand, the opposite will happen in other cryptos.  All cryptocurrency, I think, is volatile, so this happens often.

Well it is the pioneer of the cryptocurrency so i think it wont be just simply be compared to any altcoin. Although all altcoin have there own value on dollar, it is still normal to think how much it could be worth if it is converted to btc. Technically each altcoin has there own pump or dump but they would just increase because of btc but in terms of how much they are worth in dollars does not have any relation with btc.
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August 16, 2017, 12:48:16 PM
#19

I have recently been into altcoin trading. I just want to know, does the price of bitcoin affect the price of other cryptocurrencies as well? How? I really want to know. I have noticed that ever since the bitcoin price pumped up and reached 4,000 USD, the price of the altcoins had gone really really low. I almost lost my invesment due to this sudden drop. Does bitcoin price have something to do with this?

Of course yes, if you look at the bitcoins price and altcoin price, everytime the bitcoin price increase, most of all altcoin will decrease because most of all altcoin price following bitcoin price but it's okay, when the bitcoin price come back into the normal price or going down, the altcoin price will go up again.


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August 16, 2017, 12:51:03 PM
#20

The launch of Recoin Bounty took place. 50,000 tokens will be given to participants.


Someone is really advertising his Altcoin here, I really think the possibility that other Altcoins price would went down to drain is because of the rising price of bitcoin and you can really see it happening, just like in the forex industry the main currency is dollar so it all revolve in that currency the exchange of all of it, that is how bitcoin and other altcoin works.














 

 

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