Can ETH Down impact bad effect on Bitcoin?

[GizmoCoinTEAM]

When the crypto market was sky high, we have seen almost the same ratio within BTC and Eth price increase. When bitcoin price was 12K or more, ETH price was 600 USD, Bitcoin hits the 19K USD Milestone and ETH hit 1500 USD! But at this moment, the bitcoin price is 6300 USD plus but ETH pice only 285 USD! So, this ETH downtrend can impact bad effect on bitcoin? We know eth and other coins price ups and downs depend on the Bitcoin. Then what is now?

[tatum506]

When the crypto market was sky high, we have seen almost the same ratio within BTC and Eth price increase. When bitcoin price was 12K or more, ETH price was 600 USD, Bitcoin hits the 19K USD Milestone and ETH hit 1500 USD! But at this moment, the bitcoin price is 6300 USD plus but ETH pice only 285 USD! So, this ETH downtrend can impact bad effect on bitcoin? We know eth and other coins price ups and downs depend on the Bitcoin. Then what is now?

I do not think ETH can affect the bitcoin price that I believe in the opposite direction, it is a bitcoin that affects the ETH, you can see that lowering the bitcoin price does not only affect the ETH but also makes the price of altcoin fell sharply and currently there is no sign of recovery. You can see that the market is currently in a volatile and long-term bearish trend so that bitcoin prices may continue to decline.

[2weent6]

Its possible but for now bitcoin shows some resilience and not following the trend of ETH.
This is a sudden drop of ETH and I hope to see this market grow again. Those who took profit during the recent pump will now buy more coins this time and for sure in the short run, pump will happen again.

[buternasek]

When the crypto market was sky high, we have seen almost the same ratio within BTC and Eth price increase. When bitcoin price was 12K or more, ETH price was 600 USD, Bitcoin hits the 19K USD Milestone and ETH hit 1500 USD! But at this moment, the bitcoin price is 6300 USD plus but ETH pice only 285 USD! So, this ETH downtrend can impact bad effect on bitcoin? We know eth and other coins price ups and downs depend on the Bitcoin. Then what is now?

ETH does not affect bitcoin at all, just the opposite.
ETH follows the price of bitcoin, when bitcoin goes up ETH also goes up and vice versa. the truth is BItcoin that affects ETH.

[pooya87]

first of all the way an altcoin dump (generally speaking) affects bitcoin price is when people dump that altcoin for bitcoin then transfer that bitcoin to their bitcoin exchanges and sell it for fiat there. that creates a sell pressure that brings bitcoin price down also.

so with that said you need to look if these altcoins have the following characteristics:
do they have a fiat market themselves? and which market volume is higher?

in case of ETH, it  does have ETH/fiat like ETH/USD markets so if people want fiat they will dump it for fiat not bitcoin. but lets see if they are using these fiat markets or not.
according to https://coinmarketcap.com/currencies/ethereum/#markets the highest volume belongs to a Tether market (ETH/USDT) and second place goes to ETH/BTC
looking closer you can see the ETH/BTC volume of big exchanges such as Binance is nearly the same as ETH/USD on big exchanges such as Coinbase so it is a possibility.

imagine you are trading on Binance and want fiat. your only option is to either transfer your ETH to the exchange you are using or dump it for BTC and then transfer BTC to sell for fiat.
now the thing is most exchanges nowadays have ETH listed so there is no need for that but now you are facing the problem with ETH network itself. it is started to be congested again as everyone is panicking to sell faster and are transferring their coins AND tokens to exchanges to dump so your other faster option is to use bitcoin.

this is easier to explain for other altcoins as they don't have the ALT/USD markets as ethereum has so the only option is either tether or bitcoin then fiat.

in short i think ETH dump is affecting bitcoin price in a negative way but it is not a major thing but the other altcoin dumps (which is a lot in total) is certainly affecting it.

[gharjas2517]

The fall in ETH prices probably won't have a big impact on Bitcoin. I think it's safer for most people to put their money in Bitcoin because there's no new money coming into the market. The dominance of Bitcoin will be strengthened in the next few months.

[elwiswoodie]

It seems right, the ETH is different than the others
the total supply is too large, in my opinion it is very influential on the price of the ETH, because ETH is considered not rare anymore
Last year ETH reached 0.1 BTC / ETH, and now it's only 0.05 BTC, you can buy 1 ETH
then, what makes bitcoin better? because of the bitcoin lag and also the total supply that is very minimal and limited

[Umkar]

Now we see that there is a drop in prices for both ethereum and bitcoin. It is difficult to say who influences whom. However, we know that because of the high level of capitalization, bitcoin dominates the price over other types of crypto-currency, including over ethereum. Therefore, we can say that bitcoin with its price reduction affects ethereum. Now really their cost is very low. According to CoinMarketCap, the price of ethereum is 265. dollars, and bitcoin - 5 982 dollars. Virtually no one expected that by the end of summer bitcoin would begin to fall so low and pull everyone along. We hope that this is temporary and by the end of the year we still expect a good recovery of the market.

[agatha90]

I also think like that, when the price of bitcoin goes up, altcoin and eth also go up too, or vice versa. If bitcoin has an impact on all coins, then we must keep thinking positively and make others believe that bitcoin is good for the future.

[aizen10]

Eth downtrend cannot affect bitcoin unless vise versa, only bitcoin can affects the price of all altcoins in the markets and nothing to deal with vise versa. When bitcoin pump most of the altcoins will soon to pump too. But when bitcoin skyrockets altcoins follows too. Meaning only bitcoin can affects altcoins movement.

[boidepzaikhoaito1]

When the crypto market was sky high, we have seen almost the same ratio within BTC and Eth price increase. When bitcoin price was 12K or more, ETH price was 600 USD, Bitcoin hits the 19K USD Milestone and ETH hit 1500 USD! But at this moment, the bitcoin price is 6300 USD plus but ETH pice only 285 USD! So, this ETH downtrend can impact bad effect on bitcoin? We know eth and other coins price ups and downs depend on the Bitcoin. Then what is now?

Bitcoin is affecting ETH, people withdraw money from coin about USDT. The gold market is plummeting today, so the panic is rising. This is probably the general situation can not change

[pakhitheboss]

ETH orice can be correlated to other ALT coins that are using the ETH platform, Bitcoin has been controlling the price of ETH and others from 2011. I do not think that anytime in the history of cryotos, ETH has controlled Bitcoin price.

The dominance of Bitcoin in present market is the best example for you to understand.

Everyone in Cryptos want the ALT coin to behave independently rather than following Bitcoin. Surely it will happen. Till then we need to wait.

[freebutcaged]

They are two different coins with different markets, Bitcoin has that bad impact on Eth but Eth has nothing to do with Btc

Price, why Bitcoin has this impact on every other coin? the answer is really simple, Btc is the only real crypto currency.

and make others believe that bitcoin is good for the future.

You don't need to make others believe that Bitcoin is good for the future, it is on it's own with no doubt.

Bitcoin has been controlling the price of ETH and others from 2011.

Eth didn't even exist in 2011.

I do not think that anytime in the history of cryotos, ETH has controlled Bitcoin price.

We could say that Eth has it's own independent market & price but Eth is not really independent from Bitcoin.

Yes, it seems that the ETH price is very much based on the price of bitcoin, even though the ETH and BTC have no relationship. With its popularity, it should now be the price of ETH can match the price of BTC.

Bull shit, Eth can never match Bitcoin's price, that is just bull shit if you think that Eth has any chance to compete with Btc.

[batang_bitcoin]

So, this ETH downtrend can impact bad effect on bitcoin?

ETH can have impact to bitcoin whether it goes down or it goes up. It has impact to its children (ERC20 tokens) but if ETH is being dumped, it looks like it affects the whole market.
Bitcoin has impact if it goes up or down not only to ETH but to other alts as well. We recently saw on how bitcoin went up but ETH and other alts went down.

We know eth and other coins price ups and downs depend on the Bitcoin. Then what is now?

That's right, sometimes it is inversely proportional to bitcoin.

[Helex]

I don't think so because bitcoin is not dependent on ETH but it's depend on buyer and seller and now a days lots of ETH dump because of many ICO accept payment in ETH and now they dump their ETH so i think there are not any effect on bitcoin.

[giantrobot]

Reduced ETH levels will not affect Bitcoin, even if the opposite happens, Bitcoin prices affect ETH. You see, bitcoin prices reduce the price of ETH and the Altcoins decreased.

[jzale]

Don't get confused. Ethereum's downtrend doesn't affect Bitcoin's price. It is the latter, ETH can be affected by BTC's price trend and mostly all the other altcoins in the cryptocurrency market. The only coins that are affected by ETH are platforms under it's blockchain and smart contracts. There has been a major dump of ETH aside from BTC's drop. Some ICOs and established coins under ETH platform are dumping ETH to tether up and cut their loss and some are resorting to other platform like EOS because they are faster. ETH has failed and continued to drop drastically because the performance is not the same anymore.

[bitfocus]

I don't think ETH will have any effect on Bitcoin.

[aoihs00]

Thats why the are shitcoins. They dont have their own agenda and always depend themselves on the bitcoin market. I used to think that they are both different assets and one progresses according to the project development.

Whenever, I ask individual question in the telegram group of particular project as to "Why your coins price is going down" then admins or team devs responds by saying "Its not us, its the market".

So in general what is market ? Looking at the bitcoin being the strongest candidate, it is itself a market and affects the movement of shitcoins.



Interesting story about Altcoins here : https://bitcointalk.org/index.php?topic=4885375.msg44002929#msg44002929

[rujuklagi]

When the crypto market was sky high, we have seen almost the same ratio within BTC and Eth price increase. When bitcoin price was 12K or more, ETH price was 600 USD, Bitcoin hits the 19K USD Milestone and ETH hit 1500 USD! But at this moment, the bitcoin price is 6300 USD plus but ETH pice only 285 USD! So, this ETH downtrend can impact bad effect on bitcoin? We know eth and other coins price ups and downs depend on the Bitcoin. Then what is now?

on the contrary, Bitcoin affects the ETH.
and ETH has no effect on bitcoin.