Ethereum Price Action in relation to Bitcoin

[Emperor of Man]

The relationship between BTC and alts have always been complicated and difficult. There are people who believe in technical analysis of BTC dominance; go check that chart in tradingview and see how much fluctuation happened in that chart.

Recently, it has been altcoin dump regardless of what BTC does. But I hope for a day in which alts rise regardless of what BTC does.

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[Willitivity]

One big problem with ETH and other alts is maintaining value. Bitcoin movement doesn't very much correlate with them. We have seen alts losing a whole lot of value just because Bitcoin dipped a few percent, but unfortunately, this same scenario doesn't very much apply when Bitcoin goes the other way. Judging from ETH all time high, it has really went a lot down and doesn't seem to be getting back there anytime soon.

[lab rat hoax]

Altcoins will soon be on the rise and the pioneer of this rise will be coins like xrp, eth, xlm.
I've been telling this everywhere for 1 week. As we have seen today, altcoins are no longer affected by bitcoin movements. On the contrary, altcoins are moving along with bitcoin. Ethereum rises with bitcoin and this is a good sign. Dominance of bitcoin in the market will continue to fall, soon everything will be very nice. This is not an investment advice

[Red-Apple]

unfortunately there aren't any different relationship between bitcoin price and ethereum. this altcoin like any other altcoins is first moving up and down based on its own pump and dumps and second is taking effect from bitcoin price rises and falls (on both cases it drops hard). so if you want to speculate about its price, like any other altcoin, you have to speculate about its pumps. and since currently we have no reason to see any pumps coming and the owners also are not showing any kind of willingness to pump it, i don't see any rises coming any time soon.

[mikaeltomcruz12]

For me I agreed, I think if bitcoin show again the unlimited potential of this it can affect the whole cryptoworld but some how, on last previews month bitcoin pumps while the other altcoins are not.

[SummerBliss]

You know the drill. When Bitcoin rallies hard, altcoins dump. When Bitcoin dumps, all the rest dumps too. But when Bitcoin is sideways, altcoins rally and some go their own price action.

Everyone in this subsection of Bitcointalk is waiting for altcoin season to come again. Some have already given up.

I will try to post my observations about the market relationship of Ethereum which is the current lead indicator of altcoin market health to Bitcoin's.

Ethereum hasn't shown any individual brilliance from quite a long time. What was last time when ETH individually gained 20-30% while others hovered by just 4-5%? I think it was way back in early 2018. Since then, ETH mostly dumped. If we talk about this year, only Litecoin showed some individual brilliance lately. It went all way down to $30 from $250 last year but recovered and went as high as $150 in July. So even if other altcoins are almost out of individual rallies, I still have faith in Litecoin.

[ePesoInitiative]

ETH has been struggling to maintain its price against all odds, that's a good sign.  Today I added 4 more ETH to my portfolio hoping it gives me some gains in future. Generally altcoins are not really doing well, we just have to keep holding coins we see some development progress in their project and hope for the best. If it was before, when BTC drops, ETH will drop drastically but right now it's amazing to see otherwise.

This is called buying blood on the streets, even your own blood strategy.

This just explains that most altcoins are following the trend of Bitcoin especially the top altcoins. Unlike before where whales would switch from Bitcoin to altcoin and altcoin to Bitcoin but that day was over. They find it hard to manipulate the market in the long run because everyone know the drill.

Because back way before, there were no stablecoins. Now stablecoins enable direct trading of altcoins by pairing with a more stable pair like USD. Pairing with Bitcoin is not a true measure of the altcoin's worth because BTC price fluctuates hard.

 

It's definitely not always a given.

During the last bull run, when bitcoin rallied, altcoins rallied even harder. And when bitcoin dumped, altcoins dumped harder. Essentially altcoins were a magnifier of what bitcoin was doing.

But right now, ETH has generally been dumped regardless of whether or not BTC is moving upwards or downwards. That is historically not something that has occurred very often. I do think that the current rally in ETH/BTC will continue, potentially breaching 0.03 BTC. 0.022 BTC is still quite low in terms of historical averages.

Because more people think the bear markets are not yet over and that the market just bounced back to cancel out the hard dumping, but the general trend still remains bearish.

I think the market has returned to the normal cycle. Bitcoin will continue to guide the alts again and no more the opposite as you say.
I think that the altcoins season is also coming, the market has had sad red days, now it is time for the market to be pumped back, I predict it will be before Christmas days.

Not according to the charts.

The relationship between BTC and alts have always been complicated and difficult. There are people who believe in technical analysis of BTC dominance; go check that chart in tradingview and see how much fluctuation happened in that chart.

Recently, it has been altcoin dump regardless of what BTC does. But I hope for a day in which alts rise regardless of what BTC does.

You are wrong there. Altcoins dump because people believe that crypto is over. Alts would never rise on its own, it needs the whole crypto industry to become bullish again - the malaise is industry wide.

[adaseb]

Sometimes I take a trade on Bitcoin based off the Ethusd charts. If you look at the recent hourly charts you can see that ETH had better price action than did BTC.

In general these 2 usually travel the same especially against their fiat pairs. But there are many times when one is moving whether up or down and the other is trading sideways.

There are also times when BTC can be trading sideways and the alts like ETH can rally. This is not always bullish because it means that people are selling their BTC and getting into alt coins, this is what happened actually right before $9000 broke and we headed into $7700.

Its no different than BTC rallying and alt coins trading flat but their ratios are getting hammered, that meant that people were selling their alts and buying BTC.

I think these are all lagging indicators and don't always provide the full picture.

[republicrypto]

You know the drill. When Bitcoin rallies hard, altcoins dump. When Bitcoin dumps, all the rest dumps too. But when Bitcoin is sideways, altcoins rally and some go their own price action.

Everyone in this subsection of Bitcointalk is waiting for altcoin season to come again. Some have already given up.

I will try to post my observations about the market relationship of Ethereum which is the current lead indicator of altcoin market health to Bitcoin's.

nice thread, by discuss a price action relations between ethereum to bitcoin
but, remember ethereum is not the leading indicator of altcoin market health to bitcoin my friend
because altcoin world is very complicated buddy,, sometimes eth price down harder than the other alts when bitcoin growing, and vice versa
and maybe altseason will not coming in this year, but next year
regards

[Cnut237]

The key thing for me I think is market confidence. Alts only surge when confidence is really high, such as the back end of 2017. If confidence is lower, then people hedge their bets and buy BTC as the safest and least volatile crypto. The long bear market may have ebnded, but it still casts a long shadow in terms of the effect on investor confidence. It may be some time before confidence returns to really high levels and creates an alt surge. But BTC price impacts this, too. As BTC price goes up, confidence grows, and the higher it goes the more the alts look undervalued and more of a bargain. So I think an alt surge is largely confidence-driven, but BTC price is the main thing that impacts this confidence level.

[peter0425]

You know the drill. When Bitcoin rallies hard, altcoins dump. When Bitcoin dumps, all the rest dumps too. But when Bitcoin is sideways, altcoins rally and some go their own price action.

This has been the trend for long years now and I am still thinking why people here seems to be always new to this,or maybe most of them are newbie in investing?

Everyone in this subsection of Bitcointalk is waiting for altcoin season to come again. Some have already given up.

Weak hands always do we can’t take it as investors,most of them are here for fast income

I will try to post my observations about the market relationship of Ethereum which is the current lead indicator of altcoin market health to Bitcoin's.

Looking forward mate ,as I am one who’s waiting for alts to grow so I can buy another sets in future.

[michellee]

When Bitcoin rallies hard, altcoins dump. When Bitcoin dumps, all the rest dumps too. But when Bitcoin is sideways, altcoins rally and some go their own price action.

That is what happens in the crypto market. Bitcoin is controlling the market, so when bitcoin dumps, most of the altcoin dumps too. But we will have a chance to see bitcoin and altcoin rally side by side in the next bull run, and that will make the price will increase. Related to ethereum, I think ethereum still trying to reach the higher price but with the bitcoin price is up and down, I think it's hard for ethereum to make another higher price. Maybe after bitcoin can break more than $10k and sideways, the altcoin especially ethereum, will get the chance to rally.

[jarhed]

The key thing for me I think is market confidence. Alts only surge when confidence is really high, such as the back end of 2017. If confidence is lower, then people hedge their bets and buy BTC as the safest and least volatile crypto. The long bear market may have ebnded, but it still casts a long shadow in terms of the effect on investor confidence. It may be some time before confidence returns to really high levels and creates an alt surge. But BTC price impacts this, too. As BTC price goes up, confidence grows, and the higher it goes the more the alts look undervalued and more of a bargain. So I think an alt surge is largely confidence-driven, but BTC price is the main thing that impacts this confidence level.

If the price situation depends directly on the level of confidence, then we only need to wait until the level of confidence is very large. I think that in 2 years the situation will definitely change for the better.

[semobo]

You know the drill. When Bitcoin rallies hard, altcoins dump. When Bitcoin dumps, all the rest dumps too. But when Bitcoin is sideways, altcoins rally and some go their own price action.

Everyone in this subsection of Bitcointalk is waiting for altcoin season to come again. Some have already given up.

I will try to post my observations about the market relationship of Ethereum which is the current lead indicator of altcoin market health to Bitcoin's.

When people looking for rise in bitcoin price to invest on any other crypto then how other coins have its own price movement?

IMO,the price increase of altcoins when the bitcoin is in sideways most often due to manipulation.

[semobo]

You know the drill. When Bitcoin rallies hard, altcoins dump. When Bitcoin dumps, all the rest dumps too. But when Bitcoin is sideways, altcoins rally and some go their own price action.

Everyone in this subsection of Bitcointalk is waiting for altcoin season to come again. Some have already given up.

I will try to post my observations about the market relationship of Ethereum which is the current lead indicator of altcoin market health to Bitcoin's.

When people looking for rise in bitcoin price to invest on any other crypto then how other coins have its own price movement?

IMO,the price increase of altcoins when the bitcoin is in sideways most often due to manipulation.

Of course, this is due to price manipulations in the cryptocurrency market. I think that now the main market players though buy Altcoins at very low prices.

I guess they buy bitcoin more than any coin.

[ePesoInitiative]

but, remember ethereum is not the leading indicator of altcoin market health to bitcoin my friend

It is. Just compare it to altcoin market dominance and the total marketcap of all coins. Looking at my Twitter feed if Bitcoin is up and ETH is also up, I know when I check my altbags most are green too.

The key thing for me I think is market confidence. Alts only surge when confidence is really high, such as the back end of 2017. If confidence is lower, then people hedge their bets and buy BTC as the safest and least volatile crypto. The long bear market may have ebnded, but it still casts a long shadow in terms of the effect on investor confidence. It may be some time before confidence returns to really high levels and creates an alt surge. But BTC price impacts this, too. As BTC price goes up, confidence grows, and the higher it goes the more the alts look undervalued and more of a bargain. So I think an alt surge is largely confidence-driven, but BTC price is the main thing that impacts this confidence level.

That's why some Twitter influencers believe that altcoins will only rise after Bitcoin breaks ATH.

This has been the trend for long years now and I am still thinking why people here seems to be always new to this,or maybe most of them are newbie in investing?

New market participants always come and go. Lately the situation is most have left.

[pinkliar]

The key thing for me I think is market confidence. Alts only surge when confidence is really high, such as the back end of 2017. If confidence is lower, then people hedge their bets and buy BTC as the safest and least volatile crypto. The long bear market may have ebnded, but it still casts a long shadow in terms of the effect on investor confidence. It may be some time before confidence returns to really high levels and creates an alt surge. But BTC price impacts this, too. As BTC price goes up, confidence grows, and the higher it goes the more the alts look undervalued and more of a bargain. So I think an alt surge is largely confidence-driven, but BTC price is the main thing that impacts this confidence level.

If the price situation depends directly on the level of confidence, then we only need to wait until the level of confidence is very large. I think that in 2 years the situation will definitely change for the better.

two years might be long for others but hell yeah this time is needed to recover such a long bear market that happen .

[jacafbiz]

The key thing for me I think is market confidence. Alts only surge when confidence is really high, such as the back end of 2017. If confidence is lower, then people hedge their bets and buy BTC as the safest and least volatile crypto. The long bear market may have ebnded, but it still casts a long shadow in terms of the effect on investor confidence. It may be some time before confidence returns to really high levels and creates an alt surge. But BTC price impacts this, too. As BTC price goes up, confidence grows, and the higher it goes the more the alts look undervalued and more of a bargain. So I think an alt surge is largely confidence-driven, but BTC price is the main thing that impacts this confidence level.

If the price situation depends directly on the level of confidence, then we only need to wait until the level of confidence is very large. I think that in 2 years the situation will definitely change for the better.

If you are referring ti the bear market turn around, I think we are almost into two years now. For me I believe what will change all these is when most if not all these scam ICOs got delisted from most exchange that is when life will return to Altcoins.

[ePesoInitiative]

Things are somewhat looking good for Ethereum. The price is again above the support levels of the Ichimoku cloud (bullish) since June 6, 2019. And the daily chart shows an ascending triangle forming (also bullish). It might better to have ETH rather BTC now.

[jmigdlc99]

You know the drill. When Bitcoin rallies hard, altcoins dump. When Bitcoin dumps, all the rest dumps too. But when Bitcoin is sideways, altcoins rally and some go their own price action.

Everyone in this subsection of Bitcointalk is waiting for altcoin season to come again. Some have already given up.

I will try to post my observations about the market relationship of Ethereum which is the current lead indicator of altcoin market health to Bitcoin's.

I believe Ethereum price action to be independent of Bitcoin's value. While it is true that most other altcoins follow the trend, Ethereum is a beast (sometimes) of it's own. We've seen this previously when ETH value soard to $1400 and we will probably see it again when the promised glories of ETH 2.0 and proof-of-stake becomes realized. The problem now really is a matter of time, when will ETH devs delivery on their promises?