little note of trading bitcoin

[beskid]

i'm new at bitcoin trading
i have read this little note of bitcoin trading someware

Bitcoin up = altcoin down
Bitcoin down = altcion down
Bitcoin stable = altcoin moon


is it true? can i use it for a guide in trading?
and why Bitcoin can greatly affect to other coins
i know bitcoin is the king, legend, the first but is it possible just because of that?

This formula could be used freely from the end of 2015 to December 2017. If you carefully analyze, then now this formula does not work correctly. Now you need to carefully analyze each crypto currency separately, since any crypto coin behaves differently today!

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[justspare]

These observations are not true at the root!
All altcoins are moving at the cost of bitcoin.
When he grows, everything grows.

Since alcoins are bought for Bitcoin. When the market is in decline, then all the coins are also falling.

This observation is not correct. Usually bitcoin price affects altcoin price. Say for example if bitcoin price is increasing, altcoin price also increses. Similarly at the time of falling. Bitcoin is the market leader and most influential in crypto market.

You can choose bitcoin for the sake of trading as well but it is not a smart decision to do so. It is because of the reason that there are certain other coins as well like that of ETH etc. which are far better than that of bitcoin for day trading and that they can help you in making of greater amount of money too. You need to review your decision and that you need to choose the right coin.

[naidray]

i'm new at bitcoin trading
i have read this little note of bitcoin trading someware

Bitcoin up = altcoin down
Bitcoin down = altcion down
Bitcoin stable = altcoin moon


is it true? can i use it for a guide in trading?
and why Bitcoin can greatly affect to other coins
i know bitcoin is the king, legend, the first but is it possible just because of that?

I think when bitcoin is up altcoins are also up but not all and not always. I just notice that when bitcoin was on its height i benefitted good also from altcoins because they were good also in price but now even tokens i cannot sell because of very low price.

It depends on the level of up we are talking about with bitcoin, most of the time if bitcoin starts gaining huge dominance from bull run, most of the altcoins are always hitting the block and hiding in their caves, I always see it more like transfer of money into bitcoin as the traders are looking for ways to make profit from the bull run. Just the mentality anyway based on what I have seen. However, we already know right from time that the lesser bitcoin goes, it affects altcoins greatly.

As far as I have been trading cryptocurrency, which is always the reality of the way things are in this market. The only time most altcoins do very well is whenever bitcoin is consolidating, and then you see them mooning like no man's business, and once bull run starts for bitcoin or a bear rally starts, you see most of them dropping pretty fast. I guess the traders are just playing it out for profit at least that is the way I see it.

[OrangeSeller]

bitcoin up = altcoin up because most of altcoin (especially the low cap ones) are paired into btc and not usd. same with bitcoin down = altcoin down

bitcoin stable = altcoin up (if there's a development in project of that coin)
bitcoin stable = altcoin down ( scam exposed xd)
bitcoin stable = altcoin stable , normal.

The complete market keeps rotating around bitcoin and this is a ground reality. I don’t know why people keep asking questions about this topic in different ways.

Simply keep in mind that bitcoin is the master of the crypto throne, without the permission of bitcoin no one can do anything. For any kind of increase and decrease they are totally dependent on bitcoin. Bitcoin is the ultimate father of all the coins.

[Ewox]

It might be true but sometimes it does not apply. That’s why bitcoins price is always fluctuationg because you really can’t tell if altcoins go down with bitcoin or it does the opposite thing. The best thing to do, instead of relying on someone’s perception of bitcoins price is that you do your own research of its graph, educate yourself and learn on how to read the highs and lows.

[rommelzkie]

i'm new at bitcoin trading
i have read this little note of bitcoin trading someware

Bitcoin up = altcoin down
Bitcoin down = altcion down
Bitcoin stable = altcoin moon


is it true? can i use it for a guide in trading?
and why Bitcoin can greatly affect to other coins
i know bitcoin is the king, legend, the first but is it possible just because of that?

You will just get confused if you follow that. We all know the bitcoin is going UP the altcoins will follow the same way as bitcoin. However, Sometime altcoin has major news / updates / forks / exchange listing etc.. which make their price jump even if bitcoin price is going down.

[bitnotice]

I think what you say is true. Bitcoin has a tremendous influence on the price of coins. A strong reason to answer that question I don't know. Maybe people see, if the price of bitcoin gets higher, it will be safe to invest in altcoins.

[Sone11]

i'm new at bitcoin trading
i have read this little note of bitcoin trading someware

Bitcoin up = altcoin down
Bitcoin down = altcion down
Bitcoin stable = altcoin moon


is it true? can i use it for a guide in trading?
and why Bitcoin can greatly affect to other coins
i know bitcoin is the king, legend, the first but is it possible just because of that?

nahh this is not applicable to all altcoins so you don't have to rely on this one. You have to rely on your own research by basing it whether in fundamentals or technical analysis. This is just an opinion that is not a standard and not proven.

[EXtremeAEX]

Of course, one can not say that everything always happens exactly like this, but sometimes it does. Such interdependencies can arise for different reasons and in different situations. Therefore, the trader always uses a certain set of knowledge to determine the general trend of movement in the market, and similar interdependence uses as an additional confirmation of his forecast.

[manggis97]

For current situation i have seen when Bitcoin up or down some mayor altcoin will follow it,  And usually when the price going up or down,  the percentace of altcoin will higher. For example when Bitcoin up or down 4%, the mayor altcoin like ETH,  DASH,  XLM, NEO etc will be have bigger percentace. So this situation, you can use for buy and sell that altcoin.

[patispace]

At least from my personal perception, I get the impression that the domain of bitcoin in the market and in the psychology of investors seems to be growing more and more, and this is leading to the performance of most of the cryptos clearly draw a direct correlation with the price of bitcoin, so that the entire current market seems to depend solely and exclusively on the performance of bitcoin, which is a clear sign that investors are not worried about the underlying technology of each altcoin, but that they are only acquiring them to speculate.

[LSt56]

i'm new at bitcoin trading
i have read this little note of bitcoin trading someware

Bitcoin up = altcoin down
Bitcoin down = altcion down
Bitcoin stable = altcoin moon


is it true? can i use it for a guide in trading?
and why Bitcoin can greatly affect to other coins
i know bitcoin is the king, legend, the first but is it possible just because of that?

it's true that maybe you saw that in the past and revealed it here, but the current market conditions are very different at that time so we can't make it a reference because sometimes bitcoin and altcoin move each other.

[Ridwan Fauzi]

No at all, these three conceptions are just an illusion for cryptocurrency price movements. Sometimes the price of cryptocurrency moves by itself, I mean no one can predict where the price will arrive. However, most of the cryptocurrency prices can be influenced by the fundamentals, but sometimes I also see a lot of good information, but it doesn't affect the market situation, sometimes it makes me more curious.

[enawati]

Last year when Bitcoin all the times high, all altcoin was follow it. And after BTC price overbought and turn in to bearish so all altcoin also down trend . So far mayor altcoin followed price action of Bitcoin, so we can predict when Bitcoin price going up and ATH later , any possibility the price of mayor altcoin also will follow Bitcoin.

[trecore4]

Well, it can not be denied really that this formula does work many times. There was only until last year when the formula was like, Bitcoin up = Altcoins up too. However things have changed recently, top 100 coins might just follow the foot step of bitcoin only. Go to the CMC and compared the graphical movement of the top 100 coins and you will see how they are matching to each other in similar manner. This is how it works, somehow all of them behaving in similar ways these days. But if you overlook the whole market then surely there are many similarities with what formula you have mentioned in the OP.

[icyboy89]

i'm new at bitcoin trading
i have read this little note of bitcoin trading someware

Bitcoin up = altcoin down
Bitcoin down = altcion down
Bitcoin stable = altcoin moon


is it true? can i use it for a guide in trading?
and why Bitcoin can greatly affect to other coins
i know bitcoin is the king, legend, the first but is it possible just because of that?

Not true.

Usually bitcoin has a lagging effect. So altcoins will move faster than bitcoin whether is it up or downwards.
Best is to sell alts to btc when alts overbought and then buy alts with btc when alts oversold...repeat
and become rich.

[upsidedown75]

Well, it can not be denied really that this formula does work many times. There was only until last year when the formula was like, Bitcoin up = Altcoins up too. However things have changed recently, top 100 coins might just follow the foot step of bitcoin only. Go to the CMC and compared the graphical movement of the top 100 coins and you will see how they are matching to each other in similar manner. This is how it works, somehow all of them behaving in similar ways these days. But if you overlook the whole market then surely there are many similarities with what formula you have mentioned in the OP.

It does not work that way most of the time and that also depends though on how the altcoin market is, at every point in time. Sure, when bitcoin is in an uptrend consolidating and the altcoin market has hit the rock bottom, there is always that chance to see money being pushed into altcoin and normally, as that happens; we get to see the movements going crazy for them.

it has happened before and it will happen again at least until altcoins will be able to stand on their own and that can only come with real life usage in which they will easily have their own market without being dependent on bitcoin movement but for now, in most cases, it happens that way.

[Matthewmorris4]

i'm new at bitcoin trading
i have read this little note of bitcoin trading someware

Bitcoin up = altcoin down
Bitcoin down = altcion down
Bitcoin stable = altcoin moon


is it true? can i use it for a guide in trading?
and why Bitcoin can greatly affect to other coins
i know bitcoin is the king, legend, the first but is it possible just because of that?

it is just the basis of the theory, but the whole thing is not always correct.
because in most cases it is. more or less this is like the focus of separate traders. when bitcoin is stable, this is a good time to start investing and trading on altcoins.

[The Seller]

Sometimes the movement of bitcoin and altcoin is so close like a mother and child, but there are times for them to be independent so that they are not always in the path you have mentioned. Like the current situation many altcoins have their respective movements.

[fasdorcas]

Last year when Bitcoin all the times high, all altcoin was follow it. And after BTC price overbought and turn in to bearish so all altcoin also down trend . So far mayor altcoin followed price action of Bitcoin, so we can predict when Bitcoin price going up and ATH later , any possibility the price of mayor altcoin also will follow Bitcoin.

Actually when bitcoin started its bull run, all the altcoins took the fall for it as a lot of traders and investors opted into bitcoin and bitcoin really got to gain a huge dominance in the market. It was when the trend was about to change and bitcoin consolidated for a while, that the altcoins picked up and started doing some pretty crazy bull run, before eventually the general market hit the state of a downtrend and here we are now.

Sometimes, it is just about studying the market, making bitcoin as the most indicators in decision making, looking at the price actions on the altcoins as well and all in all, you will be able to make better decisions.