What kind of magic is this?

[cyberlilith]

As far as i can tell it is not magic, when everyone is bullish on BTC they want to hedge to alts and when everyone is bearish, the dump all of their alt stash.

Been there, done that. Full of Ups and Downs this past months as i try to daytrade it.

[Nubik]

I've been monitoring the market for a couple of months now. Most of the coin value rely on the price of Bitcoin. If the BTC price goes up, every altcoins will follow and if it will goes down, the price of every altcoins will goes down as well. But the question is, Bitcoin price/value is still going up but the price/value of every altcoins especially Ethereum goes down. How did this happen? Any logical or scientific basis to explain this. As of now, I am still confuse. 

It is necessary not only to monitor the market, but also read the news.  Bitcoin can become an official financial instrument. It seems that in September the decision will be made in America. If the decision is positive, then a lot of money will come to bitcoin. People who follow the news, start selling coins, their rate drops, and the bitcoin rate is growing, as it invest money and hold bitcoin. There is no cycle, that's growing bitcoin, until it starts to sell for coins or withdraw cash.

[alimarh]

from my own experience, when btc goes up altcoins goes down, and when goes down altcoins goes down too but when btc price remains stable, altcoins moon and goes up. so it seems a whole lot depends on btc.

[Rustamm]

I've been monitoring the market for a couple of months now. Most of the coin value rely on the price of Bitcoin. If the BTC price goes up, every altcoins will follow and if it will goes down, the price of every altcoins will goes down as well. But the question is, Bitcoin price/value is still going up but the price/value of every altcoins especially Ethereum goes down. How did this happen? Any logical or scientific basis to explain this. As of now, I am still confuse.  

The price of altcoins really depends on the price of bitcoin because of its high degree of capitalization. Therefore, in general, if the cost of bitcoin increases, the price of all types of crypto-currency also increases. However, sometimes individual altcoins do not have time to repeat bitcoin price movements, in others there are various positive or negative processes in the development of their projects. All this affects the price of a particular coin or token.

[FOUAD1994]

I've been monitoring the market for a couple of months now. Most of the coin value rely on the price of Bitcoin. If the BTC price goes up, every altcoins will follow and if it will goes down, the price of every altcoins will goes down as well. But the question is, Bitcoin price/value is still going up but the price/value of every altcoins especially Ethereum goes down. How did this happen? Any logical or scientific basis to explain this. As of now, I am still confuse. 

This can be explained by this way, if you trade on BTC Pairs it is always dangourus because when BTC go up, everyone sold their altcoin to invest in Bitcoin, what make altcoins go down , and when Btc go down, everyone buy altcoins to profit from altcoins , do you have uderstand ?

[blockman]

Back are the days when bitcoin is dominating the market, all those alts will turn on their knee to bitcoin.

This is why the crypto market is very unpredictable, you may not know what will happen on the next days. Like last time, we see it and we do have the same analysis that when bitcoin goes up, alts are up too.

But now it's just different, this only means that most of the alt holders are selling their alts for bitcoin for the upcoming ETF approval.

[Crypt0BHunter]

This always happens due to the situation when the price of BTC is falling it brings bear mood all over the market, but when bull market on the stage BTC price is increasing very fast and price of altcoins in fiat currency is rising too, but not so fast as BTC/USD that is why altcoin prices in BTC is falling

[lihongjing]

That could be due to the aftermath of the World Cup. Betsmen will find ways to launder money. And Bitcoin is a means for them to do that

Don't always associate Bitcoin with the World Cup. Some people may use Bitcoin to wash money, but this is not the reason for Bitcoin's rise. I prefer to believe that this is a rebound caused by long-term blood loss in the market.

[adolf512]

I've been monitoring the market for a couple of months now. Most of the coin value rely on the price of Bitcoin. If the BTC price goes up, every altcoins will follow and if it will goes down, the price of every altcoins will goes down as well. But the question is, Bitcoin price/value is still going up but the price/value of every altcoins especially Ethereum goes down. How did this happen? Any logical or scientific basis to explain this. As of now, I am still confuse. 

Yes. Prices for all altcoins depend on the price of bitcoin, but this does not always happen instantly, and the price of ETH also starts to grow after bitcoin, there is no magic)

[Bttzed03]

I do not know if anyone can really understand or predict the market with 100% accuracy. There are so many players that moves bitcoin and cryptocurrency as a whole. Many people still respect bitcoin as the King of all crypto and will easily dump alts when there's a big movement in btc

[Huruharacorp]

from my own experience, when btc goes up altcoins goes down, and when goes down altcoins goes down too but when btc price remains stable, altcoins moon and goes up. so it seems a whole lot depends on btc.

there are several coins that rise and fall depending on the state of bitcoin prices, and some are unaffected by bitcoin prices. usually if bitcoin prices rise so fast then some altcoin even decreased. and now the price of bitcoin has started to improve, may also be followed by altcoin prices as well

[Ranly123]

I've been monitoring the market for a couple of months now. Most of the coin value rely on the price of Bitcoin. If the BTC price goes up, every altcoins will follow and if it will goes down, the price of every altcoins will goes down as well. But the question is, Bitcoin price/value is still going up but the price/value of every altcoins especially Ethereum goes down. How did this happen? Any logical or scientific basis to explain this. As of now, I am still confuse. 

This is because all altcoins are bound to Bitcoin. See where you can convert your altcoins, it all is convertible to Bitcoin which is why they are going along where Bitcoin is taking them.

[sirengutou]

I've been monitoring the market for a couple of months now. Most of the coin value rely on the price of Bitcoin. If the BTC price goes up, every altcoins will follow and if it will goes down, the price of every altcoins will goes down as well. But the question is, Bitcoin price/value is still going up but the price/value of every altcoins especially Ethereum goes down. How did this happen? Any logical or scientific basis to explain this. As of now, I am still confuse. 

This is well understood because the total market value is about 600 billion. When BTC began to rise, most of the market capital was imported into BTC, and the share of other Altcoin funds in the market will decrease. So other coins will fall, only the BTC will rise. Only when the off-site funds begin to inject, Altcoin will start to rise, that is, the bull market.

[Mr.Pro]

if you have been around in crypto for long, you wont  get surprised by this flow because it had happened already in the past. We are only experiencing bitcoin price increase due to the ETF but if without it i doubt it is increasing this fast.

[EzatorFI]

I've been monitoring the market for a couple of months now. Most of the coin value rely on the price of Bitcoin. If the BTC price goes up, every altcoins will follow and if it will goes down, the price of every altcoins will goes down as well. But the question is, Bitcoin price/value is still going up but the price/value of every altcoins especially Ethereum goes down. How did this happen? Any logical or scientific basis to explain this. As of now, I am still confuse. 

This is obvious, the market is very illiquid and the main coin sets the trend for the whole market. In order for this not to happen, it is necessary that capitalization increased to several trillion dollars and the bulk of altcoins had trade pairs to the dollar. Personally it seems to me that for several more years the market will go for Bitcoin.

[liivii]

I've been monitoring the market for a couple of months now. Most of the coin value rely on the price of Bitcoin. If the BTC price goes up, every altcoins will follow and if it will goes down, the price of every altcoins will goes down as well. But the question is, Bitcoin price/value is still going up but the price/value of every altcoins especially Ethereum goes down. How did this happen? Any logical or scientific basis to explain this. As of now, I am still confuse.  

Because even though Bitcoin is the foundation of altcoins they've still different systems and supports. So if ever the price of bitcoin goes up and down it doesn't mean the altcoins will goes up as well, there are some explanations to it and one of them is when the price of Bitcoin increases some holders will probably sell some of their altcoins to buy Bitcoin and the result will be + in demand of Bitcoin while - in demand of an altcoin.

[petrobit]

The current situation in many is puzzling. It was assumed that the price of altcoins depends directly on bitcoin, but now the market shows the opposite. Perhaps this trend is short-term, or perhaps it shows new patterns of the market.

[Matteo.b]

I've been monitoring the market for a couple of months now. Most of the coin value rely on the price of Bitcoin. If the BTC price goes up, every altcoins will follow and if it will goes down, the price of every altcoins will goes down as well. But the question is, Bitcoin price/value is still going up but the price/value of every altcoins especially Ethereum goes down. How did this happen? Any logical or scientific basis to explain this. As of now, I am still confuse. 

We consider this as a reality magic every moment of time everything is change. In life of crypto subject like altcoin their are many movements happen like upside down of the prices of the market. We can't magic if whether when will go up and down but the hoping is their that this will becomes stable. Many investors have their tactics and strategies, plans to be aiming as good, you can ask them for further information.

[manggis97]

The price of altcoin is not always followed with price of Bitcoin,  will be any times for altcoin to follow BTC and also sometimes it will be not follow Bitcoin.  This is according to news that exist in the market, but so far more case altcoin  followed BTC, because when the demand of BTC increase will be the same with altcoin too.

[slitil]

I think BTC and ETH’s relation is rather inversely correlated as people tend to convert from ALTs to BTCs as soon as they see BTC rising and it has been the case lately. So, ETH’s demand is going down which as caused a dip already, whereas BTC is showing a really fast recovery right now.