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Harrisonimo
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August 02, 2018, 11:30:29 PM |
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I have noticed it when actually the bitcoin price is rising up the cryptomarket also will. Is that because of bitcoin is directly proportional to the other cryptocurrency? so that when bitcoin dumped the other crypto also will dump? Whats your opinion about it?
The rise of bitcoin being directly leading to rise in the altcoins is not at all times applicable as some altcoins do have their independent rise and falls too. I take an example from the recent rise of the bitcoin that happened last week, only few noticeable altcoin responded to the rise while most were still static. |
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Kelvinid
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win lambo...
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August 02, 2018, 11:58:25 PM |
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I think not at all times. In the last few weeks, when there was a gradual increase of BTC price, bitcoin continue to increase slowly little by little while other crypto are down. But it only happens a few times, in general I guess it is true that when bitcoin price is up, the rest of the coins follows.
I also do the same.I believe that when bitcoin will start to increase its price,the market will surely follow its upward trend.Although it does not happen all the time,but mostly bitcoin seems to dominate altcoins because bitcoin alone is the most reliable and trusted investment by all investors. |
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befriendmywater
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August 03, 2018, 12:18:44 AM |
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I have noticed it when actually the bitcoin price is rising up the cryptomarket also will. Is that because of bitcoin is directly proportional to the other cryptocurrency? so that when bitcoin dumped the other crypto also will dump? Whats your opinion about it?
That's right, but that's how the market works in the last months. now things have changed. Not long ago, Bitcoin was pumped in late July and the altcoins were still falling. This is a difficult thing to understand and it is proof that the market is always fluctuating. We need to analyze and learn more with the new market trend to get rich. |
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tommisetiyawan
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August 03, 2018, 12:43:16 AM |
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In the world of cryptocurrency, bitcoin is the benchmark price of all altcoins, and I think of all investors 70% of their money is inviting into Bitcoin, because in general bitcoin price movements will not fall so far, and investors will invest their money into coins that have promised in the future, it's better to invest into BTC than to other coins that don't know the good potential of the coin. The creation of the first digital coin is Bitcoin, and the popularity of bitcoin is more than other altcoins, that's why bitcoin is the head of all altcoin.
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royaljack200
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August 03, 2018, 12:47:57 AM |
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Most of the crypto coins depend on bitcoin. Since bitcoin is the largest and the most popular coin right now, it will affect the bitcoin no matter what. There are a lot of investors who regularly invest in bitcoin. Bitcoins do affect altcoins negatively. When bitcoins go up altcoins usually go the other way. Not always true but for the most part that is how it works.
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Twinscoin2017
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August 03, 2018, 01:56:16 AM |
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I have noticed it when actually the bitcoin price is rising up the cryptomarket also will. Is that because of bitcoin is directly proportional to the other cryptocurrency? so that when bitcoin dumped the other crypto also will dump? Whats your opinion about it?
That's right, but that's how the market works in the last months. now things have changed. Not long ago, Bitcoin was pumped in late July and the altcoins were still falling. This is a difficult thing to understand and it is proof that the market is always fluctuating. We need to analyze and learn more with the new market trend to get rich. If we speak about crypto currency the trust of the people that built on it is on the bitcoin. So then we can say that the center of the price basis is also bitcoin if bitcoin rise the trust will also rise same with the volume of investors that invest on crypto and it has a direct effect on the price. |
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ocid
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August 03, 2018, 02:17:34 AM |
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almost all altcoins follow the movement of bitcoin prices, when the decline in prices on automatic bitcoin other types of altcoins experience the same thing, because the crypto market is most likely dominated by bitcoin price movements.
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0t3p0t
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August 03, 2018, 02:21:45 AM |
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I have noticed it when actually the bitcoin price is rising up the cryptomarket also will. Is that because of bitcoin is directly proportional to the other cryptocurrency? so that when bitcoin dumped the other crypto also will dump? Whats your opinion about it?
Bitcoin makes other coins alive and kicking some of them died when Bitcoin really made a plummet. The truth about Altcoins is that they are dependent to Bitcoin that is why if Bitcoin drops they will also automatically drop too as we can see on daily charts on coinmarketcap. I believe that the adoption of Bitcoin has something to do with this issue or maybe whales try to manipulate prices but one thing is for sure with that flow we have the advantage in both up and down trends. |
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megaradux
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August 03, 2018, 02:22:04 AM |
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I have noticed it when actually the bitcoin price is rising up the cryptomarket also will. Is that because of bitcoin is directly proportional to the other cryptocurrency? so that when bitcoin dumped the other crypto also will dump? Whats your opinion about it?
That is true. Have a look at the coinmarketcap everyday and you will see it. When bitcoin is red, nearly the whole market is red and vice versa. Other coins simply live depend on the up and down of bitcoin. However there are markets that do not get affected by the price of bitcoin which is the ones for very low cap coins. |
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Obeng ketok
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August 03, 2018, 02:45:52 AM |
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the reason for bitcoin is number one except marketcap capitalization in coinmarketcap because bitcoin is first cryptocurrency, many people trust bitcoin than other cryptocurrency and all cryptocurrency follow bitcoin price, bitcoin is king of cryptocurrency in capitalization and in price movement.
Therefore, alcoin and market dependence on bitcoin is still strong, and this is what causes alcoin prices and markets to rely on bitcoin
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Vishnu.Reang
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August 03, 2018, 03:01:32 AM |
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I have noticed it when actually the bitcoin price is rising up the cryptomarket also will. Is that because of bitcoin is directly proportional to the other cryptocurrency? so that when bitcoin dumped the other crypto also will dump? Whats your opinion about it?
None of the altcoins have till now shown a complete eradication of their dependence on Bitcoin. Even established altcoins such as ETH and BCH are heavily dependent on the Bitcoin exchange rates. This makes me wonder what will happen to the alts, if BTC suddenly becomes worthless. |
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tbterryboy
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August 03, 2018, 07:18:28 AM |
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Well, when bitcoin prices rise up the market also will increase in price. Other altcoins also increase in price. Therefore, I conclude that the bitcoin will be the index of all altcoins in the market.
When I got here in this world of trading and investing and all stuff related to crypto, I came to know that bitcoin is just about to vanish and thus altcoins would also be demolished. But here story is totally different on the board. There is no connection between the price uplift or downfall of bitcoin and other altcoins. Still, we are getting so many related news. Seriously confused. |
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squog
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ANONYMOUS MOBILE PAYMENTS
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August 03, 2018, 07:21:44 AM |
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That is true... I also noticed that when bitcoin prices goes down, other alt coins follow suit. It's loke every alt coin is actually dependent on the price of bitcoin. Maybe since people with bitcoin has some alt coins and vice versa that they trade both or oull out both. Then again, I'm still starting with trading to know full well.
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spongegar
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August 03, 2018, 08:23:52 AM |
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I found that to be true too. I see that it seems that Alt coins are attached to the hip to the price of Bitcoin. Then again, it is not true for alt coins to Bitcoin. Maybe alt coins have stakes in Bitcoin or they are rrally made that way that alt coins are hinged to the price of Bitcoin. Then again, maybe it's the investors. Maybe they cash out Bitcoins at the same time cash out their altcoins.
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olyolali
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August 03, 2018, 08:33:22 AM |
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not necessarily. see in July bitcoin rises and other coins are still lagging below.
In this year the price of Crypto really cannot be predicted because it is very unstable. this is all the cause is that there are too many FUDs about crypto which scares all investors who want to invest again. if the investor is not interested with crypto may market will remain like this until the end of the year.
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safarwe
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August 03, 2018, 08:39:28 AM |
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As bitcoin prices increase, people will focus on technology more. They will help the technology grow stronger. But not only bitcoin, but the altcoin will also increase in price because they are competing with each other.
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South Park
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August 03, 2018, 09:08:40 PM |
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It's a liquidity thing. People tend to buy into the most liquid of all assets. For example, you have Mongolian tögrög and you want to exchange it to Brazilian real. You can't do it directly. What happens is you exchange it first to US dollars and then to real.
Top liquidity fiat: USD, EURO.
Top liquidity crypto: BTC, ETH
So the health of Bitcoin reflects the whole crypto ecosystem.
Which is why the price of ethereum is also very high since many coins are built above the ethereum network and you need to use ETH to send the coins, in fact I have seen many icos that in the past did not even accepted investments in bitcoin and they only accepted Ethereum, however ethereum is not as influential as bitcoin despite having a massive market cap, however there have been some instances in which the price of bitcoin goes up and alts go down since bitcoin begins to drain money from the other coins in preparation for a bull market. |
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Zooplus
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August 03, 2018, 10:31:17 PM |
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As bitcoin prices increase, people will focus on technology more. They will help the technology grow stronger. But not only bitcoin, but the altcoin will also increase in price because they are competing with each other.
Although we may say that bitcoins and altcoins are both cryptocurrencies who compete each other when it comes to its investors,but we cannot deny the fact that bitcoin is still leading its way and dominates over other cryptos.So with this,when bitcoin price starts to increase in the market,more likely that in the following days altcoins will be on its way to an upward trend too. |
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Gdra467
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August 03, 2018, 11:03:03 PM |
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Bitcoin having the highest market capitalization makes is have an impact of the market. When bitcoin loses value the total market capitalization is affected significantly and vice versa. However other alts losing value independently don't affect the total market capitalization as much. Sometimes BTC rises and the alts fail to rise too as we have seen recently. But you don't see the alts going up when BTC goes down.
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ecnalubma
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August 03, 2018, 11:24:37 PM |
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I have noticed it when actually the bitcoin price is rising up the cryptomarket also will. Is that because of bitcoin is directly proportional to the other cryptocurrency? so that when bitcoin dumped the other crypto also will dump? Whats your opinion about it?
It depends but not proportional. Some altcoins may not recover fast due to their performance and status. I think during this bearish market its better for some altcoins to show that they're resistant and not dependent on Bitcoins price not a manipulation but a project performance as a whole. |
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