Altcoins are not independent!

[Aleksey1958]

How many studying this forum, I see a lot of topics, such as:
"Ethereum is dead?"
"Achieving Etherium$ 15,000 or more this year?"
"The price of Litecoin will reach 400?"
"Why is EOS falling?"And many similar questions.. I want to give an explanation of what is happening... Everyone should understand that individually neither Ether nor Litecoin, virtually no cryptocurrency will not go against the General mood of the market! That is, where the most important cryptocurrency Bitcoin is sent, all Altcoins follow it. And if now the price of Ether is 430$, although at the peak reached 1440$, then this does not mean that the Ether died, and this is primarily due to the fact that Bitcoin at the moment is not worth 20000$, as then, but 6000$. And only Bitcoin begins to come to life, once the entire market is green. I understand that for many this is not news, but I hope this information will be useful to someone...

[mk4]

Though it's true that other coins and tokens are definitely dependent on bitcoin in terms of price as they rise and drop with bitcoin, they're not 100% dependent. Other individual coins and tokens can rise and crash simply due to lots of buyers and sellers. Some coins and tokens can rise and crash even if bitcoin is only moving sideways.

[Aleksey1958]

Though it's true that other coins and tokens are definitely dependent on bitcoin in terms of price as they rise and drop with bitcoin, they're not 100% dependent. Other individual coins and tokens can rise and crash simply due to lots of buyers and sellers. Some coins and tokens can rise and crash even if bitcoin is only moving sideways.

Yes, with the growth of sales or purchases, the price, respectively, wins back, I agree, but it will be temporary... Still, the coin after the pump / dump will follow the market

[BQ]

it's true and also a bit problematic with the whole market following the movement of btc, sure one can break out temporarily for whatever reason (people invest in the pre-announcement of the announcement blabla), but in the long term, we need altcoins to be decoupled from the bitcoin price I think. is there really any reason to have such a similar movement? it's just people having to trade through btc?

[siagh357]

Altcoins are paired to bitcoins in determining its price hence when bitcoins moves up the other altcoins will follow. Altcoins are dependent but the effects of bitcoins price have a slight effect on them.

[Pursuer]

although that may seem to be true but you have got some stuff wrong.
first of all you say "all" whereas in reality it should be "most" for example while every altcoin is seemingly going down there are other coins that are rising. mostly because altcoins are pump and dumps and money doesn't just exit the market because some coins are dropping. instead that money goes elsewhere and starts making profit there. for example you can see BTG which is a shitcoin and got pumped today 20%!

second who is to say that bitcoin is going down them altcoin following? I say people are dumping altcoins and since there are 1800+ of them they are even bringing bitcoin down. and when they are done dumping bitcoin can rise again while they join their graves.

[justin86]

We don't know whether they are dependent or not, it will be clear in the coming years, now every coin is pretty new so dependent to general market.

[azizfikri2]

Altcoins is fluctuate, I do not know what causes altcoin prices to very fluctuate. Altcoin very different with phisycal currency like dollar or others else. And I don't know altcoins are not independent or dependent

[dothebeats]

There are some cases in which a certain altcoin go against the current trend of the crypto market, most specially the newly-created coins which only recently went live on crypto exchanges. Technically, these coins are still not distributed and only a handful of people have the coin in their hands/pockets. It has the tendency to be pumped initially, and after the coins are distributed to new users, that is when we can safely assume that the coin will now start to follow the general trend of the crypto market.

[wvizmanos]

Newly listed hyped altcoins with a good number of active flowers can go against the downward trend of btc temporarily, then follows wherever btc is headed. So I guess altcoins are somehow dependent.

[darkangel11]

Altcoins are paired to bitcoins in determining its price hence when bitcoins moves up the other altcoins will follow. Altcoins are dependent but the effects of bitcoins price have a slight effect on them.

That's right. Those who believe that ETH or LTC will do good will have to wait until BTC starts doing good first. The general mood is one thing, but going into extremes, if BTC manages to skyrocket again, everything else will. I've seen worthless altcoins grow during the largest bitcoin bull markets and I've seen they all suffer a much greater fall than BTC when it went through a correction. If you want to put your money into any altcoin, you can as well put it into BTC and the effect will  be pretty much the same, at least when it comes to timing.

[Goodvalony]

thanks for sharing. it is quite informative but sometimes you notice btc raising while Eth remains at the same position. what could be reason behind that.

[James andrew]

I see all altcoin market is depends on Bitcoin when Bitcoin  up all coin up and btc down all coin so I think altcoin is not independent

[Harlot]

Another thing we need to consider is that the possibility that a lot of investors are transferring all of their funds to BTC as they consider it as a safe haven for their money and that is why it is the smallest loser among all cryptocurrencies falling. Look at ETH the margin of their differences is getting bigger and bigger while BTC remains constant even though it is dropping its price. But for people thinking that it is a good time to buy back ETH I still believe that ETH will fall more further and their gap would be bigger.

[kiemnhieutien]

It's the fact. Altcoins price is sticky with Bitcoin price. Altcoins price fluctuations depends on Bitcoin price.

[tuongc944]

Altcoins are depend on Bitcoins when it dump or pump. And i am sure that they will be on green market next month.