Bitcoin should NOT determine 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??

btc is very influential in the market and we don't know when btc will recover and will give more turmoil and will have a big influence on cryptocurrency interest for large investments but the reality is that large investments lose money and this makes public trust less. to push the cryptocurrency market again.

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[Ozero]

Yes, I agree that the current situation for the crypto currency market, when bitcoin completely dominates the price over the other types of crypto currency, is very abnormal. After bitcoin, through its problems, has fallen in price and keeps the entire crypto-currency market stagnant for a year, it can not continue for so long. The market itself must find a way out of this situation. Apparently, everything goes to the fact that soon bitcoin will lose its most part of market capitalization and then the market will be able to develop normally.

[Ava Duvall]

I’m 100% agree with you!
Bitcoin is the king of the cryptocurrency market, Its every move will affect the fluctuation of the entire market, just like a Like an autocratic monarch with dictatorial power. This means that once Bitcoin collapses, the entire cryptocurrency market will be game over. So, It is necessary to decentralize the influence of Bitcoin on the market.

its easy to say but is it easy to do? i think it would be very hard to change how bitcoin stands in today's world

[Renu kapoor]

Price determination of the market is based on the price of btc although it is not fare but still situation is same and it is happening, and final determination of the price is under the spell of btc, reason is every transaction depends upon  btc position in the market.

[nakarp]

crypto market biggest coin is bitcoin

[CelesChere]

That means there will be no intermediate markets or no public exchange. This made me think a lot.

[Nucunsimeo]

It seems to me that this is due to the prejudices of people who are used to focusing only on bitcoin, to consider it to be the main one. The problem is not in a centralized or decentralized system, but in the fact that in the minds of people the perception of bitcoin should change and bitcoin should no longer be recognized as an unprincipled example, to which everyone must be equal, without taking a step to the left or to the right.

[richman3451]

I think that such a currency should be which will be leading for smoothness and regulation of altcoyins otherwise there simply is no point in creating other coins and projects

[xWolfx]

Yeah keep dreaming.

Bitcoin is the original and the creator of the whole market and the one who gave Blockchain a reason to be so looked upon and considered to be used between so many different industries like we will start to see in the future, even now the new president of Colombia Ivan Duque said that he was going to use Blockchain inside his government.

It is also the currency who got the consumers preference first and for those reasons it will always be first.

[kemswag]

Although bitcoin is the leading cryptocurrency, I don't really see bitcoin controlling the price of the other Cryptos. Anytime bitcoin falls, you can clearly see other altcoins rising at the same time.

[Dadaro]

I totally agree. but we can't avoid that for almost all the cryptocurrencies are being traded against bitcoin. so I think that somehow, it contributes to the price of other crypto's being swayed by bitcoin.

[Omega Weapon]

Bitcoin is not the one which determines the market, people are the ones who are affecting the market. The thing is, the demand for bitcoin is high and most crypto users are investing on bitcoin. No body wants to miss the rocket of bitcoin.

But you are missing the reason of why this is the case, people prefer to invest in bitcoin not because they are blind to the other cryptocurrencies, they are doing it because they understand very clearly that bitcoin is the coin that has the highest chances of being adopted all over the world and if that happens the profits that you are going to get with it are going to be impressive.

[hadveach]

my advice is that you better not have big fanaticism towards crypto, I'm afraid you become a part of people who are depressed and stressed when bitcoin prices fall dramatically. in the end you will hurt yourself.

let bitcoin walk along every wave, take profit of volatility. and be a smart, responsive investor and fast action and cut a profit.

[evenkjoe]

This statement is absolutely true, but now the crypto-currency world includes several crypto-currencies, which over time, if not displace Bitcoin, then at least will be able to compete with it.

[buternasek]

I think, because bitcoin has greater trust than all the existing altcoins, and almost 80% of investors buy bitcoin.
of course it makes everyone hope that bitcoin will rise. if it's not bitcoin that determines the market price, do you expect it to be replaced by altcoin? and make bitcoin lose confidence?

[saaux]

bitcoin is also dependent on market movements. as today the market is very low because of the so-called gosh month so hopefully when the gosh month is over, the market is better. but I'm assured that the market will end 90% of the market after the end of the month.

[Geemy]

Yes, you are right , but I think that the Bitcoin will continue to control the direction of the rest of the currencies and the market fully for a long period of time

[snaper14]

I believe it that so many investors as well as exchanges that provide future contracts are one of the main reasons for it. Because as soon as there is a downtredn all the money gets into the most trustable coin which is btc and market experience a dump.

[Rustamm]

Of course, the current situation is abnormal, if bitcoin is falling in price and after him the entire crypto-currency market lies for a whole year at the bottom with bitcoin. I think that this will not continue for long. Market capitalization in the future will inevitably be leveled. Therefore, we like it or not, and the price of bitcoin will inevitably drop. If it will be pumped, the market will find a way how to do it.

[Elerntta]

It will still define the market because bitcoin is the first cryptocurrency and the best so far. Therefore, all other currencies will depend on it one way or another.