L. Maker (OP)
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April 12, 2018, 04:34:20 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?
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siddartha1492
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April 12, 2018, 04:51:08 AM
Last edit: April 13, 2018, 05:02:19 AM by siddartha1492 |
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The answer is simple. Bitcoin is like the king of crypto world. When the king is strong and prosperous, his kingdom is also happy. Trade flourishes, new people settle in etc. But when the king is weak and has a declining health, then the effects are visible in his kingdom too. Trades become less, people start moving out etc.
Currently Bitcoin is the focus point of crypto world and represents the trust and interest in cryptocurrencies. It is also the gateway to crypto world and is paired against the maximum number of cryptocurrencies. So when Bitcoin's prices go down, people basically lose trust in cryptos, and start selling their altcoins too; thus bringing the price of altcoins down.
As for which altcoin can escape this cycle, then the answer is probably none.
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leland orser
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April 12, 2018, 04:52:29 AM |
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Most of the time, the price of altcoin is affected by BTC. If BTC falls, most altcoin will fall.
However, this is also a signal that when bitcoin falls, we should sell tokens in time.
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L. Maker (OP)
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April 12, 2018, 05:00:05 AM |
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The answer is simple. Bitcoin is like the king of crypto world. When the king is strong and prosperous, his kingdom is also happy. Trade flourishes, new people settle in etc. But when the king is weak and has a declining health, then the effects are visible in his kingdom too. Trades become less, people start moving out etc.
Currently Bitcoin is the focus point of crypto world and represents the trust in cryptocurrencies. It is also the gateway to crypto world and is paired against the maximum number of cryptocurrencies. So when Bitcoin's prices go down, people basically lose trust in cryptos, and start selling their altcoins too; thus bringing the price of altcoins down.
As for which altcoin can escape this cycle, then the answer is probably none.
Meaning the chance of any altcoins to scape this cycle is absolute zero because the selling of altcoins in the bad stage of bitcoin causes more badly. |
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Herbert2020
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April 12, 2018, 05:20:13 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. |
Weak hands have been complaining about missing out ever since bitcoin was $1 and never buy the dip.
Whales are those who keep buying the dip.
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m.vina
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April 12, 2018, 05:29:47 AM |
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This is because altcoins are only "ALTernative coins" to the largest and most well-known cryptocurrency which is BITCOIN. The only way to escape this if people realize the value in coins other than bitcoin. In my opinion, Ethereum is the closest to breaking free from bitcoin's ups and downs. Its so good that Ethereum actually has the potential to overtake bitcoin. Google "the flippening" or visit https://flippening.watch |
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Endikadija
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April 12, 2018, 05:31:53 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?
Because altcoins are not determined its own value, I mean the price of altcoin still depend on the price of bitcoin to give the rate to the altcoin price. Look at the market and the majority of altcoins are using bitcoin pair as the main pair in every crypto exchange sites right now and that gives a lot of impact to the altcoin price itself which the price will be following bitcoin. |
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Inkdatar
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April 12, 2018, 05:37:08 AM |
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As I can see most relies on bitcoin as the best profitable after all. An altcoins is always affected when price of bitcoin goes down it follows. When they trades on altcoins and get profit most swing to bitcoin to calculate their profit. This is why I see it is always affected.
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Andrey123
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April 12, 2018, 05:38:00 AM |
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Because all altcoins can only be bought for bitcoin.
And when it is expensive, then all other coins grow in value.
It's simple.
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Ridwan Fauzi
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April 12, 2018, 05:38:36 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?
Yes, it is currently we will see if bitcoin down then altcoin will be the same. The exact reason I didn't know exactly. I have two reason, the first reason is investors who have investments in bitcoin automatically they will have an investment in altcoin also, so when bitcoin prices go up or down they will sell and buy altcoin. The second reason, we know that the biggest effect that makes bitcoin and altcoin is the information coming against cryptocurrency. They will automatically sell their altcoin if they know there will be a crash because there is bad information about cryptocurrency, not information that comes to bitcoin but information came overall to cryptocurrency. Bitcoin is part of cryptocurrency, not a cryptocurrency part of bitcoin. So, it can go down and rise its altcoin price due to the same investor who has an investment of bitcoin and altcoin, or it could be because of hearing news from cryptocurrency. |
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darrly
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April 12, 2018, 05:40:12 AM |
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Simply because bitcoin is like the king of cryptocurrencies if the king is illed or injured all of its warrior is effected and will not fight again.
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danscub
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April 12, 2018, 05:44:34 AM |
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In my opinion altcoin price follows the flow of bitcoin because btc is the first cryptocurrency that can be converted to fiat and vice versa. In order for us to invest on a specific altcoin from fiat, bitcoin is the gateway.
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Torps1
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April 12, 2018, 05:46:24 AM |
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I also noticed same, I think Bitcoin has gained tremendous popularity over Altcoin such that people now see Bitcoin to a standard. Am also thinking, if any Altcoin is able to surpass Bitcoin, same thing will likely happen.
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adam1230
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April 12, 2018, 05:49:05 AM |
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Market always start movement from alt coins. You can see clearly how is market going to rise or drop.
If market going to crash market starts to crash from alts cause people cannot usually turn to fiat directly from alt coins.
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Milansilver7
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April 12, 2018, 05:56:17 AM |
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Most of the time, the price of altcoin is affected by BTC. If BTC falls, most altcoin will fall.
However, this is also a signal that when bitcoin falls, we should sell tokens in time.
I agree with you, the price of all coins is affected by bitcoin, so I agree we must sell the tokens correctly, I hope the ethreum is stronger and unaffected by the declining bitcoin price. |
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Huruharacorp
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April 12, 2018, 05:59:28 AM |
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The answer is simple. Bitcoin is like the king of crypto world. When the king is strong and prosperous, his kingdom is also happy. Trade flourishes, new people settle in etc. But when the king is weak and has a declining health, then the effects are visible in his kingdom too. Trades become less, people start moving out etc.
Currently Bitcoin is the focus point of crypto world and represents the trust in cryptocurrencies. It is also the gateway to crypto world and is paired against the maximum number of cryptocurrencies. So when Bitcoin's prices go down, people basically lose trust in cryptos, and start selling their altcoins too; thus bringing the price of altcoins down.
As for which altcoin can escape this cycle, then the answer is probably none.
I think this answer is very complete and very clear with all the illustrations it provides. hopefully the OP can be helped with your answer. I just want to add that bitcoin also can not develop itself without any other altcoin as an alternative |
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rajuahmed330
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April 12, 2018, 06:00:36 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?
Because price depend on satoshi. Just keep your eyes one of exchanger, like bittrex. There is a way to buy altcoin with satoshi (btc to altcoin). If you bought a coin with 5000 satoshi. In few days you noticed that, the price now 5000 (same). But USD value down, why? Do u know? Its meaning bitcoin falling down. |
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breathlessz
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April 12, 2018, 06:08:11 AM |
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The answer is simple. Bitcoin is like the king of crypto world. When the king is strong and prosperous, his kingdom is also happy. Trade flourishes, new people settle in etc. But when the king is weak and has a declining health, then the effects are visible in his kingdom too. Trades become less, people start moving out etc.
Currently Bitcoin is the focus point of crypto world and represents the trust in cryptocurrencies. It is also the gateway to crypto world and is paired against the maximum number of cryptocurrencies. So when Bitcoin's prices go down, people basically lose trust in cryptos, and start selling their altcoins too; thus bringing the price of altcoins down.
As for which altcoin can escape this cycle, then the answer is probably none.
I think this answer is very complete and very clear with all the illustrations it provides. hopefully the OP can be helped with your answer. I just want to add that bitcoin also can not develop itself without any other altcoin as an alternative right, bitcoin as an intermediary transaction to buy altcoin, so altcoin can not escape from btc. therefore if btc decreases then altcoin also decreases. and with encouragement of altcoin btc can maintain its circulation |
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RheaLity
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April 12, 2018, 06:09:15 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's because bitcoin is the king of CryptoCurrency and altcoins are alternatives in bitcoin. I see the bitcoin price are going down and all coins in Crypto World are decreasing too and I think it depends on bitcoin price or because the correction that's why the price are fall in the pass few months. |
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Vit83
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April 12, 2018, 09:10:32 AM |
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You can use bitcoin as the main indicator of the crypto world. Price off almost all altcoins depends on BTC because most of them are tradable through pair with BTC.
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