BTC price is much more important than USD price

[hatshepsut93]

When people discuss crypto prices, they always do so in relation to the US dollar, however this should only be correct when discussing Bitcoin - for alts the more important metric is their price in BTC.
Why? Because it indicates their performance relative to Bitcoin, so if Bitcoin rises and alts rise too, the first thing that you have to look at is their price change in BTC - when it's negative, it means that BTC outperforms them, and the opposite if it's positive.
Bitcoin is often called the king of crypto, and rightfully so - it's more stable, more safe, has higher volumes than any other coins, so when you invest in alts, you absolutely want them to outperform BTC, otherwise you are taking unjustifiable risks and get lower profits.

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[Lagonda]

When people discuss crypto prices, they always do so in relation to the US dollar, however this should only be correct when discussing Bitcoin - for alts the more important metric is their price in BTC.

You're viewing from a bitcoin-biased trader's stand point, meaning you trade on ALTs/BTC pairs. Yes, it's right BTC price is more important than USD price if you want to accumulate as much BTC as you can. And when BIT pumps high, you sell you BTC to USD to earn double-profit.

But it doesn't matter if I'm a USD-biased trader. I trade on ALTs/USDT pairs. My first priority is to accumulate as much USD as I can then and I don't care about BTC.

Whether you're a BTC-biased or USD-biased trader, your ultimate goal is to see USD pouring into your bank account (not USDT stable shit coin on exchanges).

[Herbert2020]

it is coinmarketcap.com's fault because all the newbies check that website and the default value is in USD so these newbies who don't even trade, think their bags of altcoins are increasing in value whereas in reality they have lost money because initially they bought those altcoins with their precious bitcoin so for example if a newbie had 0.1BTC worth $300 and bought an altcion with that, the said altcoin is worth higher in USD but if he converts it back to get his bitcoin back he will only get 0.01-0.02BTC and that is currently worth $80-$160 so he is in a huge loss.

[hatshepsut93]

But it doesn't matter if I'm a USD-biased trader. I trade on ALTs/USDT pairs. My first priority is to accumulate as much USD as I can then and I don't care about BTC.

Whether you're a BTC-biased or USD-biased trader, your ultimate goal is to see USD pouring into your bank account (not USDT stable shit coin on exchanges).

If you want to gain USD, you still have to pay huge attention to BTC price of alts, and BTC market in general, because you can be missing out on safer and bigger USD profits if you put too much money into alts and they get outperformed by BTC, which happens a lot of the time, like in the current rally.

it is coinmarketcap.com's fault because all the newbies check that website and the default value is in USD so these newbies who don't even trade, think their bags of altcoins are increasing in value whereas in reality they have lost money because initially they bought those altcoins with their precious bitcoin so for example if a newbie had 0.1BTC worth $300 and bought an altcion with that, the said altcoin is worth higher in USD but if he converts it back to get his bitcoin back he will only get 0.01-0.02BTC and that is currently worth $80-$160 so he is in a huge loss.

I wouldn't say that it's the fault of coinmarketcap or other sites, it's just the general mentality of measuring everything in USD, even if alternative pairs provide additional information.

[hell_slayer]

When people discuss crypto prices, they always do so in relation to the US dollar, however this should only be correct when discussing Bitcoin - for alts the more important metric is their price in BTC.

I think that usd price is more important, because the new investors who come to crypto market lead fiat money here and change the dollar for cryptocurrency, so the price to the dollar is more important for them. Btc price is more important for those traders who trade btc/alts pairs and accumulates bitcoin for the future

[pushups44]

When people discuss crypto prices, they always do so in relation to the US dollar, however this should only be correct when discussing Bitcoin - for alts the more important metric is their price in BTC.
Why? Because it indicates their performance relative to Bitcoin, so if Bitcoin rises and alts rise too, the first thing that you have to look at is their price change in BTC - when it's negative, it means that BTC outperforms them, and the opposite if it's positive.
Bitcoin is often called the king of crypto, and rightfully so - it's more stable, more safe, has higher volumes than any other coins, so when you invest in alts, you absolutely want them to outperform BTC, otherwise you are taking unjustifiable risks and get lower profits.

I disagree. I find basing values on the dollar to be more useful given that the dollar is still the global reserve currency. Bitcoin is still too volatile to use as a baseline for measuing the value of other currencies. When bitcoin is much higher in value and more stable in price, then we can use bitcoin as a basis for valuing alts.

[cryptonx]

When people discuss crypto prices, they always do so in relation to the US dollar, however this should only be correct when discussing Bitcoin - for alts the more important metric is their price in BTC.
Why? Because it indicates their performance relative to Bitcoin, so if Bitcoin rises and alts rise too, the first thing that you have to look at is their price change in BTC - when it's negative, it means that BTC outperforms them, and the opposite if it's positive.
Bitcoin is often called the king of crypto, and rightfully so - it's more stable, more safe, has higher volumes than any other coins, so when you invest in alts, you absolutely want them to outperform BTC, otherwise you are taking unjustifiable risks and get lower profits.

I disagree. I find basing values on the dollar to be more useful given that the dollar is still the global reserve currency. Bitcoin is still too volatile to use as a baseline for measuing the value of other currencies. When bitcoin is much higher in value and more stable in price, then we can use bitcoin as a basis for valuing alts.

its depends on our purpose in our investments or trading activity my friend
if we want to collect more or increase our bitcoin amount, i think bitcoin terms will be more important than USD terms
but if we want to increase our portofolio in usd terms, usd terms will be better than bitcoin terms

[tsaroz]

When people discuss crypto prices, they always do so in relation to the US dollar, however this should only be correct when discussing Bitcoin - for alts the more important metric is their price in BTC.
Why? Because it indicates their performance relative to Bitcoin, so if Bitcoin rises and alts rise too, the first thing that you have to look at is their price change in BTC - when it's negative, it means that BTC outperforms them, and the opposite if it's positive.
Bitcoin is often called the king of crypto, and rightfully so - it's more stable, more safe, has higher volumes than any other coins, so when you invest in alts, you absolutely want them to outperform BTC, otherwise you are taking unjustifiable risks and get lower profits.

But the problem is almost everything in the world is valued against Fiat money. Buy a pack of milk, biscuit, ride a metro, order a burger, receive your salary, pay your bills, almost all of them are defined against Fiat. And all of the Fiat are defined against USD. So, this loop created by the IMF and world bank is hard to break.

[eternalgloom]

Yeah, I find it fairly annoying that USD prices are displayed standard on price overview sites like Coinmarketcap.
You really don't know anything with that, when you are just looking at the altcoin prices.

When people discuss crypto prices, they always do so in relation to the US dollar, however this should only be correct when discussing Bitcoin - for alts the more important metric is their price in BTC.
Why? Because it indicates their performance relative to Bitcoin, so if Bitcoin rises and alts rise too, the first thing that you have to look at is their price change in BTC - when it's negative, it means that BTC outperforms them, and the opposite if it's positive.
Bitcoin is often called the king of crypto, and rightfully so - it's more stable, more safe, has higher volumes than any other coins, so when you invest in alts, you absolutely want them to outperform BTC, otherwise you are taking unjustifiable risks and get lower profits.

But the problem is almost everything in the world is valued against Fiat money. Buy a pack of milk, biscuit, ride a metro, order a burger, receive your salary, pay your bills, almost all of them are defined against Fiat. And all of the Fiat are defined against USD. So, this loop created by the IMF and world bank is hard to break.

You've completely missed OP's point... They're saying that you cannot gauge the performance of alts by looking at the USD price, since those will automatically increase whenever BTC goes up.
Since pretty much all coins are traded against BTC.

[zgrdyg]

I couldn't agree more.

If you invest in alts, you are probably believing bitcoin will be huge in time. So you need to beat bitcoin price to have more btc, not more usd.

[Ghebung Masam]

really I agree with you.
up and down the price of a coin is a rhythm that must be there. but the risk of loss in investing other than bitcoin is greater because it is difficult to outperform Bitcoin itself

[hatshepsut93]

I disagree. I find basing values on the dollar to be more useful given that the dollar is still the global reserve currency. Bitcoin is still too volatile to use as a baseline for measuing the value of other currencies. When bitcoin is much higher in value and more stable in price, then we can use bitcoin as a basis for valuing alts.

There are some propositions that are floating around this forum to start measuring everything in satoshi's to brake away from fiat, but my thread is not about it - it's about cryptocurrency market as a whole, and the idea that altcoin traders should pay close attention to Bitcoin, because it influences the whole market - whenever it moves, alts move too, always, no exception. Measuring price of alts in BTC gives you perspective to how well they respond to Bitcoin's movements, which would allow you to get more profits, including profits in fiat.

[Adriano2010]

Yes is more important bitcoin price, but people need to report to USD or EUR because when they buy bitcoin need to buy with fiat money and when they want to cashout they ussually need to convert to USD.

[Red-Apple]

When people discuss crypto prices, they always do so in relation to the US dollar, however this should only be correct when discussing Bitcoin - for alts the more important metric is their price in BTC.

You're viewing from a bitcoin-biased trader's stand point, meaning you trade on ALTs/BTC pairs. Yes, it's right BTC price is more important than USD price if you want to accumulate as much BTC as you can. And when BIT pumps high, you sell you BTC to USD to earn double-profit.

But it doesn't matter if I'm a USD-biased trader. I trade on ALTs/USDT pairs. My first priority is to accumulate as much USD as I can then and I don't care about BTC.

Whether you're a BTC-biased or USD-biased trader, your ultimate goal is to see USD pouring into your bank account (not USDT stable shit coin on exchanges).

in a market like this, missing out is also just as bad as losing money and when you own altcoins even with only viewing the USD amount that you earn, you are still missing out.

take the "top" altcoin  that everyone seems to blindly love for example. assuming you had USD and bought ETH instead of bitcoin at the very bottom of its drop with the current highest price of it you had made only about 50% profit on your investment in the past months.
now if you had invested that USD fully in bitcoin you could have made about 170% profit.

with real numbers:
$1000 in ETH -> $1500
$1000 in BTC -> $2700
the amount you missed is $1200 which is bigger than your initial capital, and it is big enough to be considered "loss" specially since we all know that the same thing always happens when bitcoin rises!

[bttmember]

Yes it seems that btc has easily outperformed all alts especially if we talk about recent run where btc has undergone a complete parabolic trajectory while others have only risen a small percentage as compared to btc. Looks like alts will make some real move only once btc settles or moves sideways for some weeks.

[Melo20]

Traders should firmly have a long position with their investments in Bitcoin, looking on the comprehensive market growth and not just transient movements.

[rizkyhiw]

When people discuss crypto prices, they always do so in relation to the US dollar, however this should only be correct when discussing Bitcoin - for alts the more important metric is their price in BTC.
Why? Because it indicates their performance relative to Bitcoin, so if Bitcoin rises and alts rise too, the first thing that you have to look at is their price change in BTC - when it's negative, it means that BTC outperforms them, and the opposite if it's positive.
Bitcoin is often called the king of crypto, and rightfully so - it's more stable, more safe, has higher volumes than any other coins, so when you invest in alts, you absolutely want them to outperform BTC, otherwise you are taking unjustifiable risks and get lower profits.

But the problem is almost everything in the world is valued against Fiat money. Buy a pack of milk, biscuit, ride a metro, order a burger, receive your salary, pay your bills, almost all of them are defined against Fiat. And all of the Fiat are defined against USD. So, this loop created by the IMF and world bank is hard to break.

For me it doesn't matter because Fiat will always be there because Fiat has become a very legitimate payment tool for the world, the most important thing is Bitcoin is number 1 in the world of all cryptocurrency that exists because of its enormous value and currently surpassing the others in for a few percent gold, this is not what you are discussing now with Fiat who can buy any item, this discusses between USD and Bitcoin.

[Reid]

Good point.

This could also enlighten those who just keeps on converting unto USD.
We see that here all the time. They problems when it is just a cent of a dollar per piece and what it to go way beyond 1 USD.

They need to surpass bitcoin first before they could even do that.
Performance wise and not just because of hypes.

[tabas]

Thanks for the heads up, I'm one of those people that when telling  others about the price of a certain altcoin I'm looking to it depends on the USD price. When I visit CMC now, I'll switch the price into BTC instead of USD. But it won't be easy for me to have that switch because I might still apply USD rates.

[blackhawkeye1912]

People only relate the price of altcoins and tokens to dollar simply because they want to know the corresponding value that can be easily analyzed. Same with bitcoin, it is also compared to dollars.