Bitcoin should NOT determine the market

[Erga Di Kenesis Lascrea]

Yeah i agree with you. Will be better if crypto stand alone, but the question is how? how to make crypto like altcoin, ethereum, etc. stand alone. That's same as dollar, if dollar rise or down another currencies will affected. In digital currencies that determine is bitcoin, if bitcoin rise or down, it will affect another crypto.

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[Impulseboy]

I agree. After all, cryptocurrency does not revolve on bitcoin alone and there are altcoins that are just as good. That being said, bitcoin is the first cryptocurrency and people are drawn to bitcoin more than the other cryptocurrencies, that is why the market sort of relies on bitcoin.

[prehisto]

Although your statement is true for most of the time , as you can see in last weeks, it is not true always. BTC was relatively stable while altcoins where going trough blood bath and losing their value like crazy , most of the big guns lost their historic support while btc was holding ~6500$ level.

[truongdhnh]

Our market is affected mainly by Bitcoin and its ups and downs determine the market. So unless a currency is strong enough to beat Bitcoin and the currencies are independent. Which currency accounts for the largest proportion of capital that currency determines the market.

[mkhadazz]

yes you are true bitcoin will not be able to determine the market, which can determine the market only from the request and only from the trader, when the trader chooses the place of exchange then it is certain that the exchange place will be very crowded and must be able to utilize it to get a lot of profit.

[Jackolantern]

I don't think that btc will determine the market always. To my mind, it is better to follow the long-term hold strategy and you will see that btc will increase the price but as for the possibility to become the main currency is under question

[ogtejiri]

This issue us an issue that needs a very close observation. The crypto market should be an open one. Bitcoin shouldn't determine the price of other cryptocurrencies, all should operate on their own..

[Masatos]

perhaps he should not do this, but unfortunately this happens and will continue for a long time

[Gururapyco]

The thing is, people first buy bitcoin to then buy other altcoins, never different. There should be much more trading pairs with different altcoins and BTC will lose it's dominance overtime.

[Ozero]

What would be that sort of better system?

Fiat system is being run and created by the government while bitcoin does have it's made limit to 21 million coins only. Try to think about speculations and other things that affects its market.

I think that after a while the crypto-currency market will put everything in its place. Now the situation is really not normal. In fact, we do not have a free crypto-currency market. I think that in five to ten years he will appear. And this will happen in the most natural way. There will still be shocks, but it will all end for the crypto currency, good.

[Akande13]

Yes you are right that bitcoin should not determine market  unless a currency is strong enough to beat Bitcoin and the currencies are independent. Which currency accounts for the largest proportion of capital that currency determines the market.

[Kusnechik]

The scenario of events when Bitcoin stops determining the market is possible, but not in the short term.

[rancakadu]

can not avoid seeing that the market is being influenced by the trend of bitcoin or bitcoin itself because bitcoin is the first cryptocurrency compared to the others and it is the top or king of all crypto currencies and it is the base currency of all cryptocurencies so we cannot avoid the possibility of being affected by bitcoin.

[swifer]

to see technology critically, because if it's not perfect, the market will react to it. it's like a thermometer, so I'm not against the fact that prices are determined by the market

[gesdan]

we all hope that the cryptocurrencies world is growing, not only bitcoin that always be the lead and grow if this happens, again and again, I think all cryptocurrencies price will depend on the bitcoin price and it will not good for me

[Sadlife]

That's how the crypto market goes the btc price controls all the other altcoins in the market. That's why it's easy to predict when altcoins are going down you just have to look at bitcoin price if it's in an uptrend or downtrend. And this is why altcoins would never surpass bitcoin as long it's depending on btc price.

[dupee419]

This is the definite truth, BTC should not determine the market's status, it's like BTC is the one who revolves around the market ignoring these other currencies, though some people have their points very strong on this one, though we are arguing about BTC should not be determined whether the market will fall or not, however BTC was the first currency, and Bitcoin is actually the biggest cryptocurrency as of now, so I think this is the reason why a lot of people are relying on BTC whether the market will fall or not.

[sovilayea]

No, OP dont understand the importance of btc, bitcoin is the base of whole crypto world. If there is no btc , tokens and alts value nothing

[www_blockchain]

Of course you don't. But while it keeps the status of Ancestor is inevitable. Large players successfully manipulate this fact for the prices in the market.

[#dhabitamartha]

I really really love crypto but I think it is not a good thing that the price of BTC determines what the entire market does. I feel like there should be something done that makes the crypto market more decentralized where the price of BTC doesn't swing the market up and down there should be some sort of better system put in place otherwise we are just creating a system that is just the same as the current fiat system we have where the most "trusted/valuable" asset determines the entire market.

Just some thoughts, what do yall think??

maybe btc is very influential on all and makes prices go up and down and is unstable better the btc value is strengthened and maintained to keep the value against other coins.