If all cryptocurrencies decentralized?

[hasar]

Why all the cryptocurrencies falling identically? Their market movement should be different. Isn't it?

[hasar]

Bump.

[kaito]

They're not nearly identical.
Their movement is mainly influenced by BTC/USD, because most of them are directly tradable in BTC.

[Jcw188]

I've wondered this too.  Do they all move up and down, relative to BTC, together?  Is there a list anywhere of ones that are outperforming the other alts?

[hasar]

So when bitcoin price falls people automatically starting to sell other coins? That's not really possible. Guy like me still holding my coins no matter what. Cause for me it's long term investment.

[hasar]

[hasar]

They're not nearly identical.
Their movement is mainly influenced by BTC/USD, because most of them are directly tradable in BTC.

Why they are falling alltogether right now?

[kaito]

Probably because of this: http://www.pbc.gov.cn/publish/goutongjiaoliu/524/2013/20131205153156832222251/20131205153156832222251_.html

[hasar]

Probably because of this: http://www.pbc.gov.cn/publish/goutongjiaoliu/524/2013/20131205153156832222251/20131205153156832222251_.html

But  chinese can't sell other alternatives right?

[Mike Christ]

It's all psychological; bitcoin's the big boss and if it's going down, everyone else believes the altcoins will go down too, so they sell and then it actually does go down; the same happens when bitcoin goes up, and the other altercoins go up.  I believe the reasoning is due to the altcoins being bitcoin rip-offs so there's not much use in them except for hoping and praying one makes you rich.