|
Dexion (OP)
|
 |
November 06, 2017, 11:10:31 PM |
|
we know that today the value of bitcoin reaches over @ 7500, so many people want to get to know more about bitcoin. but does the bitcoin price today affect the value of altcoin or not? Please explain it from the bitcoin master.
|
|
|
|
|
|
|
|
|
"If you don't want people to know you're a scumbag then don't be a scumbag." -- margaritahuyan
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
|
|
949miner
Sr. Member
 Offline
Activity: 448
Merit: 250
Stake & Vote or Become a IoTeX Delegate!
|
|
November 06, 2017, 11:13:38 PM |
|
It depends a lot, altcoin prices are based on bitcoin price, it means, that if bitcoin is $10000, and "." coin is worth 0.01 in bitcoin, it is going to be worth $100 at that moment.
If bitcoin drops to $9000, then the price of that coin will probably go up in value until it recovers to $100 adjusted to $9000, it means that it would be 0.0111 in bitcoin price.
And this is how it works, and the opposite happens when the price of bitcoin goes up, it is not difficult to understand.
|
|
`^cder.
'-`ryRQQ#@@#O}-
.)ydi`!]PQQ#@@@@@#d}!
`:'`rU9660ZL:')TZ@@@@@@####O)
`lVx<,:xWg@@@#g)iQB##@@##@@@M
`lVcyWRBsy@@Q8Z*iQQQQB##@@@@M
`x|G#@@@m)T<:<v~iB##@@#QQB#@M
`)I$#m,-' `>]ZB#@@@#QQQB#3
.>LKlxxxx_`<YUaKOQQQB#BB####P
:V5MMMTx^=*` .~xeaOQQg$RB@@@##P
.<}ab*' .QQK\_`;<YMRO66B@@@@B}
.` .Q#@#Q3v`rcvvY3B#Mx_
.OKx*rxv`x66OX]=`
.!`xRdyr,
!<' | |
IoTeX
|
│
│
│
|
▬▬INTERNET OF TRUSTED THINGS▬▬
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬.
▬▬▬BECOME A MEMBER TODAY▬▬▬▬. |
│
│
│
|
▄███████████████████▄
█████████████████████
▄█████ █████████████████████
██████ ████ ████
███ █████████████████████
██████ ████ ████
██████ █████████████████████
███ █████████████████████
███████ ▀███████████████████▀
▀███████▄▄▄▄▄▄▄ ▀████
████▌ ██
▐██▌
█▌
| | | |
│
│
│
| | | |
│
│
│
| | TWITTER
MEDIUM
REDDIT | TELEGRAM
FORUM
BITCOINTALK |
|
|
|
Butchick
Full Member
Offline
Activity: 392
Merit: 101
dApps Development Automation Platform
|
|
November 06, 2017, 11:18:33 PM |
|
It actually depends on the altcoin though most of them are significantly affected by bitcoin's value as of the moment. There are coins that are greatly affected by bitcoin's value while there are also some that are slightly affected; it depends on the altcoins circulating volume and some other factors.
|
|
|
|
|
Immakillya
|
|
November 06, 2017, 11:34:08 PM |
|
Yes, ofcourse. Bitcoin affects altcoins price. Bitcoin is sucking all the volume at the altcoin market. Like what happen this week. Causing altcoin price to decline. When Bitcoin is rising, altcoin is dropping. But there are some altcoins which are not affected by the rise of bitcoin because of their solid supporters like BCC/BCH. I've been monitoring this altcoin and so far it's the only altcoin that has been pumped up while other altcoins are crashing. Anyway, Bitcoin is having a little dip. Bitcoin price is at below $7,000 right now. Most of altcoins are on green marks. Altcoin market is recovering. But i think it's a bulltrap because the hardfork is not finished yet. It's a good time to make some quick money.
|
|
|
|
|
markint
Member
Offline
Activity: 329
Merit: 14
|
|
November 06, 2017, 11:38:19 PM |
|
Given that most altcoins are tradable through bitcoin, it is logical that all these altcoins are strongly influenced by the significant movements in the price of bitcoin. In addition, many people spread their investments between different altcoins, but always prioritize bitcoin as the main asset.
|
|
|
|
|
|
Theb
|
|
November 06, 2017, 11:43:55 PM |
|
By now we must know that Bitcoin and Altcoins share a small market for them in which Bitcoin traders are also holders of Altcoins. When they see a big play is going with Bitcoin their attention will certainly shift to Bitcoin and what happens next is they will sell their Altcoin position in order to have more buying power with Bitcoin in which they are hoping to profit more. Every time there is a price surge you will notice that the Altcoin market will be in a bloodbath which is also good for people who are willing to pick up these coins at a discount.
|
|
|
|
|
leex1528
|
|
November 06, 2017, 11:45:29 PM |
|
As most people here said, they are definitely related to each other. I would like to point out though they even though they are related, they are also independent. That is to say if a compromise comes to one and it completely crashes, it doesn't actually mean that all coins will crash. However all Crypto currencies will share a similar fate in the long run.
|
|
|
|
|
|
HasHe
|
|
November 06, 2017, 11:53:29 PM
Last edit: November 07, 2017, 12:06:59 AM by HasHe |
|
Definitely,bitcoin prices influence altcoin prices.Even altcoin prices are valued in bitcoin price.
Whenever bitcoin rally occurs,all altcoins starts bleeding.This is because due to altcoin holders just selling their altcoins to buy bitcoins.
When bitcoin price falls,thenaltcoin prices start to increase as many bitcoin holders sell their bitcoins and buy altcoins to increase their bitcoin volume.
Both are inter related to each other.
|
|
|
|
|
squatz1
Legendary
Offline
Activity: 1666
Merit: 1285
Flying Hellfish is a Commie
|
|
November 06, 2017, 11:59:02 PM |
|
It actually depends on the altcoin though most of them are significantly affected by bitcoin's value as of the moment. There are coins that are greatly affected by bitcoin's value while there are also some that are slightly affected; it depends on the altcoins circulating volume and some other factors.
Nope this isn't true, all coins must be converted into Bitcoin ( MOST) so this would mean that all coins are going to be effected by the Bitcoin price. There's no coin that isn't as it is part of the Crypto community where Bitcoin has a huge dominance over everything, including peoples portfolios and exchanges. So in the end all of the altcoins are based on Bitcoins price, that's how it goes unless a coin is being traded for USDT or USD in some way. Here's another topic like yours though - https://bitcointalk.org/index.php?topic=391768.0 (good read). |
|
|
|
|
erickkyut
|
|
November 07, 2017, 12:08:18 AM |
|
I don't know if there is a direct relationship with Bitcoin's price to altcoin's price but based on my observations, Bitcoin's price is inversely proportional with most of altcoin's price. I've noticed that every time Bitcoin's price rises, majority of the altcoins become cheaper. I don't know the reason behind it but that just what I've observed.
|
|
|
|
|
|
sofi@
|
|
November 07, 2017, 01:07:00 AM |
|
Bitcoin being considered as the mother of all crypto currencies has greatly affects the pricing of alt coins and all other coins. The benchmark used for the price of those alts is the current value of bitcoin it is also believe that when bitcoin value drops same thing will happen to other alts though in the past few weeks bitcoin continue to pump while alts goes down but I think after the hard fork thi November the value of alts will soon recover.
|
|
|
|
|
TomUyamot
|
|
November 07, 2017, 01:12:18 AM |
|
we know that today the value of bitcoin reaches over @ 7500, so many people want to get to know more about bitcoin. but does the bitcoin price today affect the value of altcoin or not? Please explain it from the bitcoin master.
It does affect the prices of altcoins. But it is not the case all the time. If we have made monitoring of the prices in the cryptocurrency market, we would notice that when Bitcoin is down moderately, there is a possibility that the altcoins start climbing higher. However, if Bitcoin is really bleeding hard, we should also expect altcoins to be also on that condition. Because Bitcoin is perceived to be the entire crypto. If Bitcoin is rushing forward fast, expect that the altcoins will be negatively affected. |
|
|
|
|
|
imstillthebest
|
|
November 07, 2017, 01:17:39 AM |
|
we know that today the value of bitcoin reaches over @ 7500, so many people want to get to know more about bitcoin. but does the bitcoin price today affect the value of altcoin or not? Please explain it from the bitcoin master.
i think yes, because as we see altcoins are going down if bitcoin is going up so there must be a chain reaction between them and also segwit and hardfork can also be a factor to these because many people will tend to sell thier altcoins just to accumulate much bitcoin so that they can take much of those free forked coins/segwit coins and as a result altcoins are mainly affected to that resulting for them to bleed. |
|
|
|
|
|
Lagduf
|
|
November 07, 2017, 01:20:36 AM |
|
I don't know if there is a direct relationship with Bitcoin's price to altcoin's price but based on my observations, Bitcoin's price is inversely proportional with most of altcoin's price. I've noticed that every time Bitcoin's price rises, majority of the altcoins become cheaper. I don't know the reason behind it but that just what I've observed.
People got attracted into bitcoin by the price pump, by that, they cashed out their entire altcoins or convert it to bitcoin adding supply to the market while the demand decrease mainly because people holding to buy altcoins until bitcoin become stable, the principle is not that hard to be understand, it's just how the market works and always be like that since centuries ago. Additionally for a clue, you can see how the bitcoin dominance has been rising so fast from 49% to 63% |
|
|
|
trecore4
Sr. Member
Offline
Activity: 658
Merit: 260
CryptoTalk.Org - Get Paid for every Post!
|
|
November 07, 2017, 01:35:52 AM |
|
we know that today the value of bitcoin reaches over @ 7500, so many people want to get to know more about bitcoin. but does the bitcoin price today affect the value of altcoin or not? Please explain it from the bitcoin master.
Yes it does affect it and it will keep doing that ever and ever surely. Because it is simple fact that whatever altcoins we have today are all dependent on bitcoin as second pair of choice to trade normally. No body really go for alt|USD pairs straight because that could be loss of profit which they may get it after putting stakes on the bitcoin. This is the thing and that’s why whoever bitcoin goes up and down the altcoins will do the opposite because they both go in opposite direction of their markets values due to exchanges. |
|
|
|
|
virtfund
|
|
November 07, 2017, 01:43:42 AM |
|
Bitcoin's price increase or decline has always been very influential on altcoins. Bitcoin's price slow or rapid decline also has different effects on altcoins. Altcoins are priced at BTC or USD. Even if a coin is not much affected by the USD , BTC may be very influential. Of course, this also depends on the altcoins. Some coins are very much affected, while others are very little affected.
|
|
|
|
|
|
jseverson
|
|
November 07, 2017, 01:58:49 AM |
|
They are independent for the most part. There are certain considerations at play, however. Most altcoins are purchased with Bitcoins, so you will have to buy Bitcoin first, which makes it likely for altcoin holders to also be Bitcoin holders. If you're new to the game, there's no way you're not going to consider Bitcoin before any other altcoin.
There's also the issue of Bitcoin forks, which basically gives you more free coins the more Bitcoin you have. People take advantage of these by trading their alts for Bitcoins to get more value out of the airdrops, then trading back to alts after. This is why there is usually a Bitcoin surge and an altcoin slide whenever there is an upcoming Bitcoin fork, and why the reverse happens once the fork is done.
|
|
|
|
|
ghost424
|
|
November 07, 2017, 01:59:00 AM |
|
It has a big effect on alt coins. The value of alt coin may go higher and other alt coins might have lesser value. You can always convert altcoins into bitcoins and in that way, if a altcoin has higher value, people will tend to horde those alt coins and wait for its value to rise just like bitcoin. This also affects the different kinds of campaigns in which you can receive payment via bitcoin.
|
|
|
|
|
|
DewiKirana
|
|
November 07, 2017, 01:59:19 AM |
|
I once discussed with senior in bitcoin field, bitcoin price is very influential with altcoin price. Usually if the bitcoin price rises, the altcoin price will decrease, and vice versa.
|
|
|
|
|
|
TrumpD
|
|
November 07, 2017, 02:12:37 AM |
|
we know that today the value of bitcoin reaches over @ 7500, so many people want to get to know more about bitcoin. but does the bitcoin price today affect the value of altcoin or not? Please explain it from the bitcoin master.
Yes, bitcoin surely does affect the price of alternative coins both positively and negative. You can also argue that the reason any alt is being considered worthy of investment is the unprecedented success bitcoin has enjoyed over the years. Whenever the price of bitcoin drops, only a few obscure alts benefit. Alts like Eth always suffers. |
|
|
|
|
|
