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Author Topic: How does Bitcoin affect other Crypto?  (Read 2297 times)
Red-Apple
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August 16, 2017, 12:51:10 PM
 #21

your observation has been correct. when bitcoin price rises the altcoins drop, and that is the important thing to have in mind. knowing it you can get out of your altcoin investments and then invest back after the bottom was reached in those altcoins.

but also you should remember that at all times there are altcoins that will perform otherwise. like IOTA and NEO in the past week which went up alongside bitcoin.

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August 16, 2017, 01:23:17 PM
 #22

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's price has constantly increasing lately and it has already reached 4000 USD which we didn't expect sooner to happen. With the sudden rise of value of bitcoin,We can notice that the price of altcoins has seriously been affected. I think I have heard this to one of my professor in Engineering Economy where the value of fiat money increases, the value of goods decreases is called Deflation and According to what I have researched, Deflation can seriously hurt the economy since it will affect the profit of every traders in the market.

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August 16, 2017, 01:39:30 PM
 #23

Bitcoin as we all know is the main crptocurrency that ever existed and bitcoin is the best among all cryptocurrency that exists in this world. Bitcoin is so related to other cryptocurrency. It is just because that alternative coins or alternative cryptocurrency really depends on bitcoin. In terms of trading. Bitcoin is known for a very good long term investment. And altcoins are just trying to copy that in a sense using another coin for another term of investment.



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August 16, 2017, 01:47:32 PM
 #24

Bitcoin as we all know is the main crptocurrency that ever existed and bitcoin is the best among all cryptocurrency that exists in this world. Bitcoin is so related to other cryptocurrency. It is just because that alternative coins or alternative cryptocurrency really depends on bitcoin. In terms of trading. Bitcoin is known for a very good long term investment. And altcoins are just trying to copy that in a sense using another coin for another term of investment.
I agree with that since it was the first to be introduce and become popular bitcoin is the basis of the alts value so whatever things happen inside bitcoin
industry the whole alts system will be affected sometimes or most of the its a contrast reaction, when btc falls alts will rise but when btc jumped up
expect alts to be on its bloody day.

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August 16, 2017, 01:50:23 PM
 #25

Bitcoin affect all the other crypto and altcoins for sure, because it is the first and the oldest successful crypto currency, with the biggest community dealing and trading it. So if the Bitcoin's price drop down it will affect the value and prices of the altcoins too
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August 16, 2017, 02:21:10 PM
 #26

The thing is bitcoin is the very first crypto currency and most of the people trust bitcoin than any other crypto currency. The price of bitcoin increases,other alt coins may increase or remain in the same level, but when bitcoin's price decreases most of the time other altcoins also go down along with it. But this is not likely to happen all the time and the price change between bitcoin and altcoin doesn't happen immediately.


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August 16, 2017, 02:27:38 PM
 #27

Bitcoin is truly the best of all digital currency. The same won't affect the growth of other digital currencies, because bitcoin served to be the base of all digital currencies. Even during the recent price pumping the price move happened as a whole.

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August 16, 2017, 02:34:19 PM
 #28

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.
If altcoin's price also falls the same with bitcoin, will its price not rise also the same with bitcoin? I mean, we know that bitcoin's price are fluctuating right? for a period of time the price is low and also for a period of time it also high. Is it not the same with altcoins? Can't we wait for the altcoin's price to rise also? like the way, we hold bitcoin for a long time waiting for a good moment for it?

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August 16, 2017, 02:37:14 PM
 #29

Bitcoin is truly the best of all digital currency. The same won't affect the growth of other digital currencies, because bitcoin served to be the base of all digital currencies. Even during the recent price pumping the price move happened as a whole.

I think there are some changes that you can't see but that do not affect the growth of other crypto currencies but their prices only.
For example bitcoin make a big pump, we all know that the prices of altcoin depends on bitcoin so when bitcoin pumps, altcoin dumps.

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August 16, 2017, 02:54:14 PM
 #30

Thats easy to understand one thing altcoins are all traded against bitcoin, soo any moove over bitcoin value will push up/down altcoins, some of them are able to follow bitcoin for a while since are based into it, but in the general the trend is to go at opost direction then bitcoin. Bitcoin where and still being the most power crypto and the first, altcoins camed after bitcoin trying to get similiar results and improve some issues that bitcoin could had, nowadays we do see a lot ico wich will be focus into some area, because bitcoin has been present at all, but isnt focus into nothing else besides provide a strong and safe way to moove money.


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August 16, 2017, 02:55:33 PM
 #31

Bitcoin is truly the best of all digital currency. The same won't affect the growth of other digital currencies, because bitcoin served to be the base of all digital currencies. Even during the recent price pumping the price move happened as a whole.

I think there are some changes that you can't see but that do not affect the growth of other crypto currencies but their prices only.
For example bitcoin make a big pump, we all know that the prices of altcoin depends on bitcoin so when bitcoin pumps, altcoin dumps.
that is the relation between bitcoin and altcoin, when bitcoin pumps, some people not want to miss the moment so they sell their altcoins and get bitcoin. that is what make altcoin price dump


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August 16, 2017, 02:55:38 PM
 #32

Bitcoin is the train you got to be on if you want to increase your fortune without much effort at the moment.
I think that many traders do not do so well at the moment because they have difficulties to find currencies that develope positive in regard to bitcoin.
That makes even the traders leave their money untouched in the bitcoin currency. This decreases the demand for altcoin right now.

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August 16, 2017, 03:39:54 PM
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Bitcoin is the original cryptocurrency - every altcoin which was created after share certain similarities to it and is linked to its popularity, price and reception.
The general rule of thumb - when bitcoin is soaring everyone is selling altcoins to jump on the hype train.
When bitcoin is losing, traders are either locating money in altcoins or lose faith in cryptocurrency in general.
So yeah, bitcoin is like the ultimate benchmark for altcoin market.


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August 16, 2017, 03:46:58 PM
 #34

Usually the price of Alt coins goes down, when the price of Bitcoin goes upward. People sell their Alt coins to buy bitcoins to

capitalize on the spike, because they know it usually jump much higher than Alt coins. This time around the Alt coins went

upwards and downwards quickly... which was strange. Looks like new investors trying to follow the historical trends and

panicked too quickly.  Roll Eyes

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August 16, 2017, 03:53:53 PM
 #35

Usually when bitcoin will pump people will pull out bitcoin from their altcoins so altcoin's price might drop in terms of bitcoin but if you look at their price in fiat than you will realize that their price is quite stable. This might not fit perfectly for every altcoins but usually all crypto in top 10 list by marketcap follows this pattern.

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August 16, 2017, 07:53:31 PM
 #36

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?
Yes, I also noticed that the price of altcoins were getting really, really low. I think that’s because they’re getting dumped as Bitcoin is getting pumped. So that leads to their price decrease, because everyone is rushing into Bitcoin now.

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August 17, 2017, 03:52:16 AM
 #37

Now there are already more than a thousand varieties of crypto currency. The course of the main of them should influence and influence each other. Since bitcoin is the leader of the crypto currency, it is clear that an increase or decrease in its rate affects other crypto currencies.

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August 17, 2017, 04:06:13 AM
 #38

Bitcoin can really affect in other cryptocurrencies if you are in trading because you are converting it into bitcoin so when the price of  bitcoin will increased, the price of altcoin will surely decreased.

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August 17, 2017, 06:49:31 AM
 #39

In crypto currency market what you can notice is that when bitcoin's price increases,it becomes harder to invest,so that time people will invest in different alt coins and select the best one which will benefit them the most.And when bitcoin’s price goes down ,people only buy bitcoin and not altcoin because they know that bitcoin’s price will increase definitely but its not the same story for that of altcoins .



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August 17, 2017, 06:54:19 AM
 #40

In crypto currency market what you can notice is that when bitcoin's price increases,it becomes harder to invest,so that time people will invest in different alt coins and select the best one which will benefit them the most.And when bitcoin’s price goes down ,people only buy bitcoin and not altcoin because they know that bitcoin’s price will increase definitely but its not the same story for that of altcoins .




this does not seem to hold true for the current day investments in crypto as when bitcoin prices drop, people dont re enter, they find solace in other alternate coins and that pumps the prices of those up.

it is really an inverse relationship apart from the outlier which is neocoin
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