Why BTC & ETH falling simultaneously? Are they not different blockchain?

[visiblehand]

In the short term, their prices are being driven by the same factors (as are alt coins to a large extent).  Long-term, there will be winners and losers.  Much like the stock market.

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[olumyd]

In the short term, their prices are being driven by the same factors (as are alt coins to a large extent).  Long-term, there will be winners and losers.  Much like the stock market.

It's really beginning to sound more like a game, where people lose and others win. But an sure once regulation steps in it will be more controlled. The damages won't be much.

[dothebeats]

Different blockchain, but that doesn't necessarily mean that the people involved in BTC couldn't buy ETH for their own investment portfolios, knowing that ETH is also one of the top performing altcoins available for purchase. Also, BTC and ETH price movements aren't completely identical at all times; it just so happened that everyone who are invested in BTC and ETH, together with all the coins on the top 100 altcoins list, decided to sell all of their holdings for profit bookings. Even the Dow is in a downfall right now, so I'm not surprised if crypto would go down as well. It is of the market's interest which coin would go up or down irrespective of any technical advancements a coin has.

[PalindromemordnilaP]

I think, ETH and the rest of alternate coin have a pairing with bitcoin. That is, if bitcoin goes up or down, alternate coins' market value are also affected. Just take a look on how bloody crypto markets are when bitcoin's value plummets down.

[olumyd]

I think, ETH and the rest of alternate coin have a pairing with bitcoin. That is, if bitcoin goes up or down, alternate coins' market value are also affected. Just take a look on how bloody crypto markets are when bitcoin's value plummets down.

But it ought not to be so. It still means that we are yet to grasp the very potential of blockchain products and comprehend how much value each has independently as an entity. I mean, if all these coins came out to address one issue or the other that was a major concern in the previous versions or generations, shouldn't they be doing better off when the so-called earlier versions are plummetting? IMO, each ALT should stand for itself. In fact, if BTC goes down, those ALTs paired with it should go up - an opportunity. But if everything turns red because BTC is in the RED ZONE, we truly know who's got the power of crypto market.

[f150]

their blockchain is the same, BTC & ETH will fall or not and always at the same time. If BTC down or up ETH will follow it, because BTC is the parent of all altcoin types. so ETH will always follow its parent BTC

[jerry0]

Do people agree that holding altcoins are worthless than since everything depends on btc?  However, that altcoin could multiply a lot more than btc especially if that coin has a very low market cap right?

Also is it pretty much 100 percent that its impossible for the altcoins to increase in price if btc drops in price?

So if bitcoin hits a huge number, would that mean all these altcoins at the moment would at least multiply at least the amount btc multiplies in value?

[BTCLovingDude]

Do people agree that holding altcoins are worthless than since everything depends on btc?

holding altcoins is not such a good idea. trading them is a much better one.

However, that altcoin could multiply a lot more than btc especially if that coin has a very low market cap right?

"can" does not mean "will" but yes they can get pumped so their rises can be a lot bigger.

Also is it pretty much 100 percent that its impossible for the altcoins to increase in price if btc drops in price?

there is nothing called 100% and we have nearly 2000 altcoins there will be exceptions as there have been. if an altcoin is getting pumped there aren't much that can stop that.

So if bitcoin hits a huge number, would that mean all these altcoins at the moment would at least multiply at least the amount btc multiplies in value?

no

[Slash61]

This seems to attract a lot of investor attention, if bitcoin and ethereum fall together it is not strange to me because these two coins are equally nested behind blockchain. In the world of highly influential crypto coins is bitcoin if at any time the price of bitcoin down then other coins will also go down, actually can be spelled out that bitcoin is the mastermind of all the coins. The bad effect is if bitcoin is interrupted by government or central bank then other coins will also be just as disturbed.

[olumyd]

Do people agree that holding altcoins are worthless than since everything depends on btc?

holding altcoins is not such a good idea. trading them is a much better one.

However, that altcoin could multiply a lot more than btc especially if that coin has a very low market cap right?

"can" does not mean "will" but yes they can get pumped so their rises can be a lot bigger.

Also is it pretty much 100 percent that its impossible for the altcoins to increase in price if btc drops in price?

there is nothing called 100% and we have nearly 2000 altcoins there will be exceptions as there have been. if an altcoin is getting pumped there aren't much that can stop that.

So if bitcoin hits a huge number, would that mean all these altcoins at the moment would at least multiply at least the amount btc multiplies in value?

no

This split reasoning can help people who don't know much about cryptocurrency trading to be more careful about how they handle their portfolio and interpret market data

[suvo05]

I think the bigger percentage of ETH are being trade with BTC, rather than USD so When BTC price drops then the ETH also drops. But when the ETH price fall I don't think it affects much on the BTC price.

[olumyd]

I think the bigger percentage of ETH are being trade with BTC, rather than USD so When BTC price drops then the ETH also drops. But when the ETH price fall I don't think it affects much on the BTC price.

If that's true it means BTC has so much more influence over ETH and will make ETH always seem second rated in the crypto market. IMO, BTC by now BTC shouldn't have more attention compared to ETH when more than 85% of new ICO projects came as a result of Ethereum Network platform. So, if economic principle should be applied here, more demand for Eth should have been in play and that should have increased the worth of ETH by more than 1000 fold in the past 1 year.