Witnessing BTC going down, and all alts, directly at same time, again.

[blokHed]

China FUD, Fork, 10k psych,
I am witnessing, IMO, an unnatural drop across board, to the minute, when BTC drops.
Please explain to me why all others drop in value directly due to BTC value, to the minute...

[otunayode]

At the present, every altcoin derive it's value from bitcoin. When people talk about cryptocurrency they are not talking about altcoin or worse still airdrop, they refer to bitcoin as cryptocurrency hence all other altcoin is affected to whatever affect bitcoin that may change in future though!

[darthmaul]

China FUD, Fork, 10k psych,
I am witnessing, IMO, an unnatural drop across board, to the minute, when BTC drops.
Please explain to me why all others drop in value directly due to BTC value, to the minute...

The thing is bitcoin is dropping due to the market correction and nothing else. Altcoins are dropping because it is being invested into bitcoin after seeing it in the red zone. Or there could be another possibility that altcoisn are now being traded for the fiat first as they are getting profitable investment now. One thing is sure whenever there is fall of bitcoin there is rise of alt coins where we speculate that bitcoin is getting traded for the alt coins but somehow we are not in that position today. The market corrections are the reason for bitcoin but not for the alt coins itself. Whatever it is, it looks to me completely temporary because after all the catching up the market cap is not gonna break so severely. So just wait and watch for the bitcoin to rise again and behind that alt coins will gain the dominance too.

[danmoris]

It's a chain reaction. Bitcoin is the biggest cryptocurrency, hence the sudden reaction to all altcoins. In some way, most Altcoins are reliant upon Bitcoin.

[cryptofunn]

istory repeats itself. Bitcoin runs the market. On such days it is less and less believed that the market of violas will come to those prices that were in the spring. The balance in bitcoins falls with each such jump in the price of bitcoin, and in dollars it grows slightly. It is necessary to change the strategy. Altoquines for fast trading only, investment in bitcoin and eth

[blokHed]

All reasons aside, I have now witnessed more than once, BTC drop, bewildering me as to the direct, to the minute drop, across the board of alts, only escape, to fiat etc... please refer to my previous post which directly concerns my observation. It happens almost to the minute, full stop. Unnatural IMO.
Obviously, in long run, things even out, yet I am addressing a phenomenon that I have witnessed more than once. Is concerning, and not one that can be explained with reasoning of considered reasonable causes, IMO...

[Acguy]

Because alts are priced in btc value and not usd. Alts would have to go up more than btc is falling in order to maintain it's price.

[Tipstar]

Yes the rise is unnatural. And the price is sticking over 10K still.
Bitcoin and cryptocurrencies on whole needs a price correction and that is still to happen.

[blokHed]

Alts are priced due to market price considered value. BTC is paired, so is ETH, USDT. If ETH plummets, do all alts?. No.BTC value is with Fiat.
Should we now have a time where alts, ie high-tech companies should be placed directly to fiat, for real world value? And not allowing BTC to be an interim? (MiddleMan?!)...
EDIT: Time for Alts to have direct access IMO, for what whole ethos being, remove middleman, having to rely on something blocking direct access... Blindingly obvious, IMO...
And Edit again: Is it not that Bitcoin is in no ones control, yet only placed in position? Would it not be in all exchanges benefit, regarding liquidity, to remove the middleman, ie bitcoin etc.., to place a different model, whereby all alts etc, all coins, free to move trade, etc.. without limitations?... Have I just placed the future vision of what will be? LOL...(Dare to Imagine what would be best for all...).

[phillza]

alts priced to btc

[Jonsnowstark]

China FUD, Fork, 10k psych,
I am witnessing, IMO, an unnatural drop across board, to the minute, when BTC drops.
Please explain to me why all others drop in value directly due to BTC value, to the minute...

The drop in bitcoin price is said to be due to the coinbase and some other exchange shut down. For the alts, oh well, clearly, when people see the bitcoin price rising, most of them converted their alts to bitcoin to join the rise, especially during forks, to get free money. Oh well, that's expected anyways.

[taxmanmt5]

At the present, every altcoin derive it's value from bitcoin. When people talk about cryptocurrency they are not talking about altcoin or worse still airdrop, they refer to bitcoin as cryptocurrency hence all other altcoin is affected to whatever affect bitcoin that may change in future though!

As present, the altcoins are depended on bitcoins. like if you want to get cash, you need to convert alts into bitcoins and then from bitcoin you can exchange it for Cash. I dont think any payment methods directly converts alts into local Fiat. Also Bitcoins is used as mode of payment plus as a currency to trade but none of the alt is used as a mode of payment and they are used only for trading purpose. That's why the increase and decrease of bitcoin price directly impacts the altcoin prices.

[blokHed]

At the present, every altcoin derive it's value from bitcoin. When people talk about cryptocurrency they are not talking about altcoin or worse still airdrop, they refer to bitcoin as cryptocurrency hence all other altcoin is affected to whatever affect bitcoin that may change in future though!

As present, the altcoins are depended on bitcoins. like if you want to get cash, you need to convert alts into bitcoins and then from bitcoin you can exchange it for Cash. I dont think any payment methods directly converts alts into local Fiat. Also Bitcoins is used as mode of payment plus as a currency to trade but none of the alt is used as a mode of payment and they are used only for trading purpose. That's why the increase and decrease of bitcoin price directly impacts the altcoin prices.

So, essentially, all Alts are slave to BTC?
Is it not that now, the real-world benefit, Hi-Tech talent in this space, value of coin, should not be artificially affected, due to another coins' issues?...
Govs know, BlockChain is future. For project development to be directly affected due to external issues (ie BitCoin Issues), IMO, needs to be removed. Remove the middle...
ie Alts directly have no blockage regarding Fiat. IMO.

[Beicin]

Seems like the entire market is directly related to Bitcoin.. Doesn't suprise me, as it has been like this for the entire existence of cryptos, but in the near future i think some coins will decouple for Bitcoin and be able to trade on their own without being affected by other coins' price swings.

[blokHed]

Seems like the entire market is directly related to Bitcoin.. Doesn't suprise me, as it has been like this for the entire existence of cryptos, but in the near future i think some coins will decouple for Bitcoin and be able to trade on their own without being affected by other coins' price swings.

Is this where I come for someone to present my post in a better manor?

[maeusi]

Don't get nervous. Some altcoins always follow BTC, which is up again. I keep now my BTC and alts. Seem to generate good passive income.

[blokHed]

Don't get nervous. Some altcoins always follow BTC, which is up again. I keep now my BTC and alts. Seem to generate good passive income.

Of course, if believe, HODL!
The artificial drop (IMO) across board, to the minute, is not reflective of peoples' actual actions at time.
Individual coins' value is being over-seen, and controlled, IMO.
EDIT: For a price drop across the board (CoinMarketCap), the answer to my question, is that BTC directly, and IMO should not have, direct influence as to the real-world value of another coin/ project. Full Stop. Remove the BTC own issues, IMO, to not allow to affect others' progress...

[Elby]

Lots of people (also investers) seem to have no faith when a correction taking place. Correction is normal, as it climbs so fast, people should get more faith in the top 10 coins and stop dumping when they get scared.

[blokHed]

Lots of people (also investers) seem to have no faith when a correction taking place. Correction is normal, as it climbs so fast, people should get more faith in the top 10 coins and stop dumping when they get scared.

This is no correction, this is the news regarding CoinBase. Get real. Same as China FUD, Fork etc...
EDIT: Situation has passed. Correction, and uptrend seen, yet issue of CoinBase IMO, something to be considered affecting, maybe for a while?...
CoinBase issue IMO caused the 2k drop.

[Elby]

Lots of people (also investers) seem to have no faith when a correction taking place. Correction is normal, as it climbs so fast, people should get more faith in the top 10 coins and stop dumping when they get scared.

This is no correction, this is the news regarding CoinBase. Get real. Same as China FUD, Fork etc...
EDIT: Situation has passed. Correction, and uptrend seen, yet issue of CoinBase IMO, something to be considered affecting, maybe for a while?...
CoinBase issue IMO caused the 2k drop.

But we also needed a correction right? CoinBase > IRS was bad news, but perpaps in the end tax regulation for crypto will contribute to the steady future for digital coins.