bitcoin.beda
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quarkchain.io
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April 12, 2018, 09:14:37 AM |
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Bitcoin is the dominant coin in crypto currency, as the king of coins goes down it is naturally that all other altcoins were also going down. especially majority of coins were priced based on BTC. Most Probably if bitcoin is down, your altcoin you are holding will also go down.
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quarkchain.io
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lelou
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April 12, 2018, 09:23:02 AM |
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Most of this altcoins are pegged into btc meaning on trading sites they are in btc/altcoin pair and not in usd.
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Kate Beckett
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April 12, 2018, 09:27:24 AM |
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Altcoins are still too dependent on Bitcoin. This is primarily due to the fact that people perceive them as second-rate currencies. Altcoins have not yet reached the level of reliability, anonymity, transaction speed, so that they are considered equal to Bitcoin. Young crypto-currencies have the high connection with bitcoin rate. As the popularity of altcoin increases, connection weakens.
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tachi641
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April 12, 2018, 09:32:29 AM |
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Yes because it is directly or indirectly connected to BTC.
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defoman
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April 12, 2018, 10:21:06 AM |
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I noticed that altcoins are affected by the price of bitcoin when it goes up or goes down, what is the reason behind this? And is it possible that there is an altcoin that can possibly scape from this cycle and how?
It is not so difficult. Bitcoin became the first cryptocurrency and a symbol of a new previously unknown market, it is the single currency, all originally equal to it. After the emergence of the altcoins the price is started to be measured in satoshis, BTC. A cryptocurrency you can only buy with Bitcoin. Now appeared such giants, as, for example, Ethereum and many altcoins are based on his base. But in order to remove the king from his throne, you need to significantly surpass it in many parameters, such as the number of transactions per second, their speed, price, anonymity, scalability and accessibility. If there is such a cryptocurrency that can be easily bought, converted into any other cryptocurrency/currency and it will correspond to the parameters listed above, then it will have all chances to become a new king. This is my vision on this issue. |
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Yourlover
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April 12, 2018, 10:21:44 AM |
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because the main and only reason why real investors invest in any altcoin has always been to make profit on their bitcoins or make profit on their money so they could buy more bitcoin in its dips. so whenever bitcoin is making big move they dump altcoins to go back to bitcoin and get involved with that big move. And is it possible that there is an altcoin that can possibly scape from this cycle and how?
for altcoins that exist today? no, not a chance. but if an altcoin were to be created that is not for the purpose of speculation and trading but for the purpose of being a currency (a coin) then it can flourish individually. Do we have now an existing alt purposely to be a currency(coin)? And what is the difference between coin and token? Thanks OP for this. |
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Phoenixpple
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April 12, 2018, 10:23:26 AM |
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This is well understood, because all altcoin is based on bitcoin, and when bitcoin is rising or falling, the price of altcoin is bound to be linked. Because most altcoin is not recognized by most people in the market, so this effect will change more in price.
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piterpie
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April 12, 2018, 10:59:44 AM |
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I noticed that altcoins are affected by the price of bitcoin when it goes up or goes down, what is the reason behind this? And is it possible that there is an altcoin that can possibly scape from this cycle and how?
This makes us realize that the influence of Bitcoin currency on the market is enormous, now many other currencies are living on Bitcoin and Alt is also one of the influential coins. From Bitcoin, if the economy develops in many countries, investors will no longer be concerned about the Alt issue. |
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BitcoinHodler
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April 12, 2018, 11:01:45 AM |
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you know what, the important thing to know is that It Happens! you don't really need to know the reason only to be aware that this relationship exists.
with that in mind, next time you see bitcoin rising or dropping you need to rethink your while altcoin investment before it is too late and you are in a big loss.
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Holding Bitcoin More Every Day
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tonylewisverdu
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April 12, 2018, 11:08:40 AM |
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I wish this didn't happen and I think once the majority of the market wealth is shared between several coins this won't happen. as long as BTC holds most o the wealth Alts are somewhat tethered to it. Exchanges would also have to have more trading pairs away from btc. I think this will happen eventually.
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faceoff97
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April 12, 2018, 11:14:30 AM |
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I noticed that altcoins are affected by the price of bitcoin when it goes up or goes down, what is the reason behind this? And is it possible that there is an altcoin that can possibly scape from this cycle and how?
Majority of the Altcoin are actually dependent on bitcoin, but there are still coins that are already well established. Since bitcoin is usually used as exchange rate in most exchanges it affects the value of alternative coins. I have few coins that going an independent track, the development team has really a good vision and performing well on getting every milestone happen. Time frame really matters for a project, a god project meets its goal. |
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pimkobai
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April 12, 2018, 11:31:17 AM |
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I noticed that altcoins are affected by the price of bitcoin when it goes up or goes down, what is the reason behind this? And is it possible that there is an altcoin that can possibly scape from this cycle and how?
Majority of the Altcoin are actually dependent on bitcoin, but there are still coins that are already well established. Since bitcoin is usually used as exchange rate in most exchanges it affects the value of alternative coins. I have few coins that going an independent track, the development team has really a good vision and performing well on getting every milestone happen. Time frame really matters for a project, a god project meets its goal. Good observation so far, that is reality of the market trend of cryptocurrency as altcoins are correlated with bitcoin. If bitcoin will accelerate then altcoins will follow and by the time bitcoin declines, same thing will happen to the alts and it is like directly proportional with each other. I happen not to find yet a coin that will still continue to accelerate despite of the successive dips so far. I think that the strong resistance is hampering bitcoin's growth to move forward. |
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farland7
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April 13, 2018, 12:20:01 PM |
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The reason is that Bitcoin is the main cryptocurrency, where the others called "alternative"= alike coins. The affects that play Bitcoin, play on other alike coins as well.
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godfredmanu
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April 13, 2018, 12:25:24 PM |
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Bitcoins price is directly correlated to alternative currencies. When bitcoins prices go up, the believe in crytpto currency as a form of investment is strengthen and people get into it by getting more of other alternative currencies. Also, when the price of bitcoin declines, then the fear of holding crypto as investment also increases and people start selling of their holdings in other coins.
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