Altcoin independent of Bitcoin's performance?

[sukeroku]

Ladies and Gentlemen, newbie here.

Anyone have suggestions as to which altcoins can serve the purpose of hedging against Bitcoin during market movements that we are currently experiencing?

I do not expect to find a unicorn, however any input on this topic is welcome.

[kambaralikhan]

Altcoins are not independent of BTC performance when BTC appreciates and depreciates it also effect Altcoins as a recent huge downfall in value of BTC (because of ban of ICO in China) it also effected Altcoins as am sure you know that ICO (Initial coin offering) is particularly for Altcoins. Here is the list of Cryptocurrencies it can be clearly seen that how other cryptocurriencies are getting affected because of BTC performance.
https://coinmarketcap.com/all/views/all/

[SenSeiSoKo]

no altcoins are not really independent, bitcoins performance is very important because it is all on it... or on Ethereum or something else boys and gurls

[Red-Apple]

either hold bitcoin to go back to only fiat!

at times like this when bitcoin is going down, altcoins will reluctantly go down with it. there are some exceptions from time to time but you can not rely on them to really hedge your funds because it will be highly risky. unless you want to do it with a small amount to just make some profit as a trader.

there is also the option of using coins with the same value as fiat. the most popular one is tether or USDT. but i personally don't like it because it is too centralized but without any guarantee!

[AleSergio]

There are some you can check investFEED, if you will look on the chart the price haven`t dropped so heavily as price of other coins, for example today it has gained 18% of profit comparing to bitcoin.

[neinnein125]

Sadly all altcoin are somewhat tied to bitcoin's market value. Cause all their investors are also bitcoin investors. So good luck finding different coin. It is pretty much impossible.

[pey]

All altcoins are depend on bitcoin to some extent. Actually the bad news except jp morgan ceo's words are not related to bitcoin but bitcoin is also decreasing because they kill all the market.

[qwizzie]

Dash has some nice stability with its BTC value and even managed to grow there over the last 24 Hours / 7 Days / 30 Days : https://coinalyze.net/



Dash access to large OTC markets (Wall of Coins for example) and having several FIAT pairs (USD / EUR / KRW / CNY), should also help to make it grow more independent of Bitcoin.

[anasso]

altcoins are not independent because they are traded against bitcoin.

maybe in the future when exchanges can allow people to trade with $!!!!

[Munti]

With a few exceptions the last six months, BitBay has a tradition for not being much affected by BTC crash. Actually it often goes up a little when BTC crashes. Check the historic charts yourself.

[hosseinimr93]

You are completely wrong. All cryptocurrecnies are affected by Bitcoin. Just see the charts. Everytime Bitcoin fall in price, Altcoins fall more and everytime Bitcoin Rise in price, altcoins rise more. This is what we experienced in past months.

[Morguk]

As others have said, bitcoin affects all cryptos. However, privacy coins in theory should fall less if bitcoin falls. That's because sometimes BTC falls due to regulations/bans which usually doesn't affect privacy coins as much.

[chutchmcgillicutty]

Until you can buy every altcoin with every major fiat currency, BTC and alts are going to be coupled