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Author Topic: great influence in the world of cryptocurrency.  (Read 136 times)
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March 15, 2018, 07:41:11 AM
 #21

a little bird told me that bitcoin prices can survive without other coins, whereas the price of other coins can not survive without bitcoin.
I think bitcoin is very influential in the world of cryptocurrency.

well that is true and false at the same time!
we all know that all the altcoins are greatly influenced by bitcoin price. and mostly in a negative fashion meaning as long as bitcoin is making a big move up or down, altcoin prices will fall down big time. and when bitcoin is not making much of a move, altcoins can start rising or getting pumped.

and the first part is true that bitcoin is not depending on altcoin prices and will survive without them but it may be affected by them too. for example their dumps may cause some drop in bitcoin as some people choose bitcoin to exit to fiat or have to other way so they sell to BTC then sell BTC for USD and that can crash bitcoin a little at least.

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March 16, 2018, 06:48:19 AM
 #22

a little bird told me that bitcoin prices can survive without other coins, whereas the price of other coins can not survive without bitcoin.
I think bitcoin is very influential in the world of cryptocurrency.

Yes, this is what happening right now every time the bitcoin fall, expect some altcoins to hurt so much.
But again there's a good altcoin that can really survive without bitcoin but it will take more time before that things happen.
Let's always open for the possibilities of some altcoins to really go beyond bitcoin in the coming years.
mindset is do'a and I believe that there will be other coins that can survive without bitcoin. I have observed, that many other coins have great advantages. IMO in the days to come there will be one coin that can surpass or equivalent bitcoin.
There are actually a lot of coins that would have been able to stand on their own, but I feel the mentality among traders that bitcoin controls the market has given them that idea of exiting their positions once there is a serious movement on bitcoin that obviously in the past has caused altcoin tanking before and this will keep repeating until it actually stops with a lot of support for those alts that are solid, but now, we cannot actually say it is far from the truth.
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March 16, 2018, 08:16:18 AM
 #23

This has been the saying of many people here and in reality this is what we keep on seeing concerned price action! We can all see when bitcoin is coming down all the altcoins will be coming down because there cannot stand on there own. Bitcoin determined what happened in cryptocurrency market and itS control over all of them will continue as far as it remains the dominant coins in cryptocurrencies.
Honestly, if we are to keep looking at the price actions anytime bitcoin is in a bull or a bear market, it just usually seem like the market is totally made for bitcoin. Nevertheless, it is a new market, the trend has been like that, so I do not expect to keep seeing it for a while, but over time, I believe things will change and each market will be able to stand on its own at any point in time. What I see here though is just traders basically exiting alts to have some good profit on the btc market.

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March 16, 2018, 10:17:06 AM
 #24

a little bird told me that bitcoin prices can survive without other coins, whereas the price of other coins can not survive without bitcoin.
I think bitcoin is very influential in the world of cryptocurrency.
Most of other coins are traded only against bitcoin but there are few exceptions like LTC and ETH which also have their own fiat pairs and exchanges like coinbase support direct buy feature for ETH and same as bitpanda they also offer direct buying of ETH,  LTC with EURO.

Bitcoin is influential but you are wrong with your first statement.
Bitcoin dominance on the market is calculated on coinmarketcap, for example. It is usually about 40%, which is high, but not enough to really control the market as well as make other coins fully depend on it. Yes, coins are traded to btc quite a lot, but I am sure they could be traded in other pairs more if btc was suddenly out of the game. At the same time, if something happened to major altcoins, that would not kill btc, but would result in a huge price crash. Just remember how news about icos were affecting the price before.

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