Obolo
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October 01, 2018, 11:21:21 AM |
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So far as most altcoins depend on bitcoin, I would say bitcoin controls the crypto market. You could realize that, whatever that affect bitcoin directly affect other altcoins. This is true for the fact that, anytime the value of bitcoin fluctuates, other altcoins also follow.
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pharaon
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October 01, 2018, 12:02:18 PM |
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Most people believe that the price of altcoins' is determined by the price of bitcoin and that they tend to follow it's market movements.
I partially disagree with this. I have studied prices of coins and tokens on CMC and the fluctuations of each currency seems to be unique and independent of any other digital currency. Some show strong pumps when BTC goes down and some heavy dumps when BTC is rising.
Undoubtedly, there are market forces and factors which affects most currencies, this is not influenced by bitcoins price, it rather controls bitcoins' price as well as others.
So when trading or investing, make sure you treat each currency differently as they have different utilities.
Undoubtedly, there are exceptions and the price of some coins is growing or decreasing regardless of the price of bitcoin, but on the whole it is necessary to recognize that the market situation and the price of most altcoins still depends on bitcoin. |
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Lyd
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October 01, 2018, 02:24:15 PM |
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I think somehow bitcoin does control the market. Since it is the biggest crypto out there all other coins are controlled by the greatest power: bitcoin.
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$anounimus$
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October 01, 2018, 02:52:38 PM |
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yes of course this bitcoin price is very influential on other altcoin prices because this bitcoin price is a reference for all existing cryptocurrency, when the price of bitcoin falls, other cryptocurrency prices will also fall.
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TheLoser
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October 01, 2018, 03:34:46 PM |
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Bitcoin as the first crypto currency will always dominate and dictate the growth or decline of the entire market. Therefore, most of the altos are dependent on bitcoin.
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novakamena
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October 01, 2018, 04:05:29 PM |
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Yes, BTC is teh dominant in the Crypto Market.
A key factor in the price of any cryptocurrency is its utility. If you cannot use it for something, be it an investment or for payments, then it would have no or little perceived value. In the case of Bitcoin, it is usable for payments on a reasonably high and ever increasing scale.I think that Bitcoin control the market. |
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giantrobot
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October 01, 2018, 04:10:07 PM |
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Of course yes. Bitcoin is the pioneering currency in the virtual currency market, being the largest denomination in the market. So it affects the Altcoins as a matter of course, which may be less influential or influential. The evidence that prices are independent of each other may be true, as Altcoins are located in different trading floors, but when converted to cash, it will affect each other.
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ynclksnr321
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October 01, 2018, 04:17:10 PM |
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Regardless of this, bitcoin has been officially reigning to this market. Even when Eth was going to replace bitcoin, they were incredibly impressed by the smallest rise or fall. As a result, if the bitcoin rises, the alts rises or the whole market is collapsed.
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anitaraymonds
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October 01, 2018, 04:23:20 PM |
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By history and records we noticed that when bitcoin is dipping all other altcoins will go in the same direction with bitcoins. It the king of all coins and I
believe that it dictates the price of the other altcoins. Take for instance any time there is an regulation against bitcoins the market sentiments will make the market to react negatively and the price of bitcoin will dip while the other altcoins though the regulations was not about them will also go down in price. You can observe that once bitcoin raises all of them will rise also.
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maskeffec
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October 01, 2018, 04:27:36 PM |
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Most people believe that the price of altcoins' is determined by the price of bitcoin and that they tend to follow it's market movements.
I partially disagree with this. I have studied prices of coins and tokens on CMC and the fluctuations of each currency seems to be unique and independent of any other digital currency. Some show strong pumps when BTC goes down and some heavy dumps when BTC is rising.
Undoubtedly, there are market forces and factors which affects most currencies, this is not influenced by bitcoins price, it rather controls bitcoins' price as well as others.
So when trading or investing, make sure you treat each currency differently as they have different utilities.
Yes, I agree with you that the price of altcoin is not determined by the price of bitcoin because they have a different development team but the price fluctuations of Bitcoin have a big impact on the altcoin, not only because it is the main currency for most Altcoins but also because it's the backbone of the whole cryptocurrency world, every news that the effect of Bitcoin whether it is good or bad will affect the altcoin. |
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Jose Rizal
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October 01, 2018, 04:28:21 PM |
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Most people believe that the price of altcoins' is determined by the price of bitcoin and that they tend to follow it's market movements.
I partially disagree with this. I have studied prices of coins and tokens on CMC and the fluctuations of each currency seems to be unique and independent of any other digital currency. Some show strong pumps when BTC goes down and some heavy dumps when BTC is rising.
Undoubtedly, there are market forces and factors which affects most currencies, this is not influenced by bitcoins price, it rather controls bitcoins' price as well as others.
So when trading or investing, make sure you treat each currency differently as they have different utilities.
Maybe in some instance, the prices of altcoins may be dependent on either Ethereum or Bitcoin because it was intended to be set into a value equal to those. So when the price sinks or rises, the price value also do. In some instance on the other hand, the uniqueness of the price came as a reaction of the buyers and sellers of the set value based on the movement of Bitcoin or Ethereum to purchase a distint token in the market so both perception are correct depending upon how you interpret it manually. It is just a technicality on comparing different cryptocurrencies. |
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Kocret02
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October 01, 2018, 04:28:25 PM |
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I think the right statement is bitcoin is not controlling the market but bitcoin affects the market with prices. wherever the market is available it is an exchange that can be done with bitcoin, so I think bitcoin continues to influence the market.
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Vincemanam21
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October 01, 2018, 04:49:31 PM |
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Bitcoin is one of the pioneers in the crypto world, and is it the one of the main reason why it became popular and many people tried it and earn from it. Bitcoin is not controlling the market but it affects the market, when the price becomes high or low, some of the altcoins are connected to bitcoin, exchanges are always converted into bitcoin.
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clarkgeneral86
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October 01, 2018, 05:01:38 PM |
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Have a look at coinmarketcap now and see where Bitcoin is standing. and market capitalization like? And now the whole of the crypto market has turned red. Because Bitcoin is down which shows the importance and mission of Bitcoin. Bitcoin is a pioneer and the only driver for the Altcoins to develop inadvertently it controls and controls the market.
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Rimon365
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October 01, 2018, 07:13:55 PM |
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Of course. If you follow chart you saw that when bitcoin rate is down then the whole market are down and when bitcoin will pump the whole market will pump. It is understood bitcoin control the market.
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Chacha1000
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October 01, 2018, 07:17:53 PM
Last edit: October 01, 2018, 10:01:56 PM by Chacha1000 |
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Am of the opinion that bitcoin controls the market,the reason being that almost all altcoins are paired with bitcoin on different exchanges . That is why most times when the price of bitcoin comes down,other cryptocurrencies too follow suit . Bitcoin happens to be a pioneer and the only driver for the Altcoins and it will continue like this except something is done about it. If you have been observing the market closely any time it is green just know that the price of bitcoin have gone up and once bitcoin price comes down,the whole market goes red too. This shows us that of a truth,bitcoin controls the market.
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rosemary4u
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October 01, 2018, 09:35:00 PM |
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I believe bitcoin has a great influence on the crypto market but I dont think bitcoin is the so determinant of the whole market. I believe the prices of the various digital currency depends on many factors not only on bitcoin.
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Nasonn
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October 01, 2018, 09:40:14 PM |
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Bitcoin doesn't necessarily control the market but we can't ignore its effect on the movement of other coins. I have noted time without number that majority of coins fall when is falling while some rise when bitcoin is falling and vice versa.
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East2011
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October 01, 2018, 09:42:13 PM |
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I don't think bitcoin can control the market. Bitcoin has a huge effect on the price of other crypto only because bitcoin is like the basis or a barometer. On the price of other cryptos.
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escalante28
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October 01, 2018, 09:59:33 PM |
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Of course bitcoin has to do with it. The main reason why there are altcoins is because of bitcoin. If you don't agree with that, then how would you explain when bitcoin goes down the altcoins follow? I mean there is a domino effect it's because bitcoin have a connection with them. Overall bitcoin control the market price movement. If bitcoin will fall then how would they trust those token that imitate btc?
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