Ethereum Price Action in relation to Bitcoin

[leea-1334]

I think bitcoin dominance is tied to market confidence. The markets are uncertain at present, and confidence is low. I think it would need a surge in confidence for alts - including ETH - to rally against BTC. It would be good if ETH price was higher, but don't think it will happen right now, we will likely be waiting some time yet.

Not really. If the market is super confident they will also diversify and buy in to a lot of new projects and try out some new alts which they would not have risked in the period of low confidence. With more confidence comes a willingness to take risks,,, and this results in using up btc to buy more alts = less btc dominance.

[Taufik blackspade team]

I think bitcoin dominance is tied to market confidence. The markets are uncertain at present, and confidence is low. I think it would need a surge in confidence for alts - including ETH - to rally against BTC. It would be good if ETH price was higher, but don't think it will happen right now, we will likely be waiting some time yet.

Not really. If the market is super confident they will also diversify and buy in to a lot of new projects and try out some new alts which they would not have risked in the period of low confidence. With more confidence comes a willingness to take risks,,, and this results in using up btc to buy more alts = less btc dominance.

risk must be taken now because bitcoin will be more profitable than altcoin if the market soon experiences an upward movement. but it's different from altcoin which can survive in a bitcoin down condition. because if there is altcoin that can make growth when bitcoin has decreased it will be very good for altcoin investment. we cannot predict trade domination for a long time. we only analyze the short term.

[CuriousGeorge]

I think bitcoin dominance is tied to market confidence. The markets are uncertain at present, and confidence is low. I think it would need a surge in confidence for alts - including ETH - to rally against BTC. It would be good if ETH price was higher, but don't think it will happen right now, we will likely be waiting some time yet.

Not really. If the market is super confident they will also diversify and buy in to a lot of new projects and try out some new alts which they would not have risked in the period of low confidence. With more confidence comes a willingness to take risks,,, and this results in using up btc to buy more alts = less btc dominance.

risk must be taken now because bitcoin will be more profitable than altcoin if the market soon experiences an upward movement. but it's different from altcoin which can survive in a bitcoin down condition. because if there is altcoin that can make growth when bitcoin has decreased it will be very good for altcoin investment. we cannot predict trade domination for a long time. we only analyze the short term.

You are joking about that because that's not true. Altcoin has a lot of possibilities to get more than 10x gains easily while bitcoin needs more than a huge support to get 100% increase or 1x. The growth of altcoin will be determined by the altcoin itself whether the developer is so smart to put a huge update at the downtrend. The long term can be identified through use short term fundamental as oursevaluation.

[suryapro]

Most of the existence of Altcoin does depend on the price movement of bitcoin. if bitcoin goes up, then other alcoins will also go up. but over time, altcoins have been able to overcome and maintain the value they have, even though the price of bitcoin is down.

[Iceblast]

I think all altcoins are trying hard to survive when bitcoin prices are low. not only ethereum, but lots of altcoin. so I think right now only ethereum might be able to withstand the onslaught of a declining bitcoin price.,

[mr_random]

I think bitcoin dominance is tied to market confidence. The markets are uncertain at present, and confidence is low. I think it would need a surge in confidence for alts - including ETH - to rally against BTC. It would be good if ETH price was higher, but don't think it will happen right now, we will likely be waiting some time yet.

Not really. If the market is super confident they will also diversify and buy in to a lot of new projects and try out some new alts which they would not have risked in the period of low confidence. With more confidence comes a willingness to take risks,,, and this results in using up btc to buy more alts = less btc dominance.

risk must be taken now because bitcoin will be more profitable than altcoin if the market soon experiences an upward movement. but it's different from altcoin which can survive in a bitcoin down condition. because if there is altcoin that can make growth when bitcoin has decreased it will be very good for altcoin investment. we cannot predict trade domination for a long time. we only analyze the short term.

You are joking about that because that's not true. Altcoin has a lot of possibilities to get more than 10x gains easily while bitcoin needs more than a huge support to get 100% increase or 1x. The growth of altcoin will be determined by the altcoin itself whether the developer is so smart to put a huge update at the downtrend. The long term can be identified through use short term fundamental as oursevaluation.

It is not easy to make 10x with the altcoin which has a $500mln turnover, but it is easier to make a 10x with the $10mln turnover. The main difference is the total market cap of specific altcoin and the price is the second step for measuring each other. In the short term, it is hard to catch the mentioned ROI but in long term markets, HODL is the best option until the investor liquidates the trading position.

[agentx44]

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 think Bitcoin and Ethereum's price grows high at the same time. I find it evident during 2017's sudden increase on bitcoin's price where it almost reached $20000. There is no real evience that when bitcoin's price goes high altcoin's price goes opposite so we should observe more and see what's happening in the market during prosperous times of bitcoin. As the altcoin season comes, it would help if we are going to analyze the market during such so that we can be more strategic even after the altcoin season.

[ePesoInitiative]

I think all altcoins are trying hard to survive when bitcoin prices are low. not only ethereum, but lots of altcoin. so I think right now only ethereum might be able to withstand the onslaught of a declining bitcoin price.,

 That's true because usually the coins with the most liquidity are the coins that will survive. Actually as far as I remember, no coin truly dies if the dev team is still working hard and there are still a handful of holders. I've seen survivors of the 2015 bear markets.

[ePesoInitiative]

Ethereum against Bitcoin is so close to the edge of the triangle now: The price will either bounce up or breakdown from the diagonal support. Get ready to sell or short once it breaks down, target price is 0.0189btc.

[elisabetheva]

I think bitcoin dominance is tied to market confidence. The markets are uncertain at present, and confidence is low. I think it would need a surge in confidence for alts - including ETH - to rally against BTC. It would be good if ETH price was higher, but don't think it will happen right now, we will likely be waiting some time yet.

in the past ethereum could move and could not depend on bitcoin. it is very encouraging and the team can work well optimizing so that ethereum can rise and prosper. but that time seems to no longer happen and ethereum today is very dependent on bitcoin. I think with you that for now don't expect ethereum to go up high. need time for that and maybe next year can change.

[RondoAnyar]

not only is ethereum affected by the bitcoin price effect. now, if we see the price of bitcoin can not significantly influence ethereum prices. maybe this is why altcoin also won't easily move up when bitcoin is up

[ePesoInitiative]

Now is your chance to short Ethereum against Bitcoin. The price action has led to a pullback which is typical of a dump that breaks support. We should expect 0.0189btc now.

[ePesoInitiative]

The pullback is creating some bull flag. Short the breakdown from 0.02021btc, if not long the breakout at 0.02037btc and close your position around 0.02059btc. But overall, I still think we will see 0.0189btc.

[Natalim]

not only is ethereum affected by the bitcoin price effect. now, if we see the price of bitcoin can not significantly influence ethereum prices. maybe this is why altcoin also won't easily move up when bitcoin is up

no, bitcoin has been affecting the movement of the entire altcoin and also that includes ETH.
BTC and ETH are not synchronize when they move but look closely and you will see that when Bitoin is up, ETH will follow, maybe what you observed was just the initial reaction, but after that, the ETH always followed the trend as long as there is no bad news for ETH.

[leea-1334]

The pullback is creating some bull flag. Short the breakdown from 0.02021btc, if not long the breakout at 0.02037btc and close your position around 0.02059btc. But overall, I still think we will see 0.0189btc.

I have to agree here. ETH will make a number of comebacks,,, but until and unless the actual 2.0 and full POS happens, we are going to see a lot of false dawns that will take it to below 0.019,,, I would expect even more pain once that has been breached. Support should break, just waiting to see now how bad the break is going to be.

[btc78]

not only is ethereum affected by the bitcoin price effect. now, if we see the price of bitcoin can not significantly influence ethereum prices. maybe this is why altcoin also won't easily move up when bitcoin is up

no, bitcoin has been affecting the movement of the entire altcoin and also that includes ETH.
BTC and ETH are not synchronize when they move but look closely and you will see that when Bitoin is up, ETH will follow, maybe what you observed was just the initial reaction, but after that, the ETH always followed the trend as long as there is no bad news for ETH.

But this is how the market goes since then,bitcoin is always dominating the whole market and control the movements .never that altcoin starts the growth instead it isn’t always the top ranked currency of all time.

Anyway I am looking for some other pump within this year so altcoin May grow further than what is the prices now,it isn’t very frustrating when investors keep seeing their investments falling when halving is soon to come.
Though I am not losing hope because I carry to hold for long so what is another year to Keep?

[ePesoInitiative]

The pullback is creating some bull flag. Short the breakdown from 0.02021btc, if not long the breakout at 0.02037btc and close your position around 0.02059btc. But overall, I still think we will see 0.0189btc.

I have to agree here. ETH will make a number of comebacks,,, but until and unless the actual 2.0 and full POS happens, we are going to see a lot of false dawns that will take it to below 0.019,,, I would expect even more pain once that has been breached. Support should break, just waiting to see now how bad the break is going to be.

The ETH/BTC price just  dumped to 0.0195btc. It is now around 0.02btc. Re-short every pullback until 0.0189btc. Or you could just wait for 0.0189btc to open a long positiom until 0.0213btc. All in all, this still looks like ranging.

[Ozero]

I think bitcoin dominance is tied to market confidence. The markets are uncertain at present, and confidence is low. I think it would need a surge in confidence for alts - including ETH - to rally against BTC. It would be good if ETH price was higher, but don't think it will happen right now, we will likely be waiting some time yet.

in the past ethereum could move and could not depend on bitcoin. it is very encouraging and the team can work well optimizing so that ethereum can rise and prosper. but that time seems to no longer happen and ethereum today is very dependent on bitcoin. I think with you that for now don't expect ethereum to go up high. need time for that and maybe next year can change.

Many analysts are confident that ethereum will be able to get away from the price dominance of bitcoin. The current situation in the cryptocurrency market with tough price dominance of bitcoin is not logical for a decentralized cryptocurrency. What kind of decentralization, if the price of almost all cryptocurrencies depends on the price of bitcoin. I think that the market itself should change this situation after a certain time.

[Cnut237]

I think bitcoin dominance is tied to market confidence. The markets are uncertain at present, and confidence is low. I think it would need a surge in confidence for alts - including ETH - to rally against BTC. It would be good if ETH price was higher, but don't think it will happen right now, we will likely be waiting some time yet.

Not really. If the market is super confident they will also diversify and buy in to a lot of new projects and try out some new alts which they would not have risked in the period of low confidence. With more confidence comes a willingness to take risks,,, and this results in using up btc to buy more alts = less btc dominance.

Yes, that's what I meant - sorry I wasn't being clear. If confidence is low then it is generally a bear market, if confidence is higher then BTC increases... but if confidence is very high, then people feel comfortable diversifying into alts, and alts rise. Alt rise happens when market confidence is very high. So BTC dominance is tied to market confidence - the lower the confidence the higher the BTC dominance.

It's just that high confidence seems some way away at the moment...

[Pelunize12]

we dont have to do our own research to know the correlation
There are many research already done if you find in the internet

The good one you can find from Binance research, it has done research market correlation between Bitcoin and top altcoin
you can check here https://research.binance.com/analysis/correlations-q3-2019