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Wysi (OP)
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December 10, 2020, 05:57:17 PM
 #1

Bitcoin has proved it once again that it's the key player in the world of crypto and prices of altcoins depends of bitcoin, we witnessed it yesterday wherein bitcoin's value dropped which caused huge fluctuations in the value of altcoins and even drove altcoins to red zone but when Bitcoin quickly regained the value he altcoin market got steady.

Sometimes we don't see pump in the value of altcoins when Bitcoin surges but whenever there is a adrop in the value of Bitcoin it definitely causes chaos to altcoin market.

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December 10, 2020, 06:46:02 PM
 #2

Bitcoin will always be the market leader. It is the first, has the highest market cap and it's the most preferred crypto of everyone.

but when Bitcoin quickly regained the value he altcoin market got steady.

Sometimes we don't see pump in the value of altcoins when Bitcoin surges but whenever there is a adrop in the value of Bitcoin it definitely causes chaos to altcoin market.
There were instances that the altcoin market don't get into the same action as bitcoin's. And that's what make others think if altcoins and bitcoin is always correlated in prices but just like what you've observed, it's unpredictable. Sometimes it is and sometimes don't.


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December 10, 2020, 07:02:29 PM
 #3

Bitcoin has proved it once again that it's the key player in the world of crypto and prices of altcoins depends of bitcoin, we witnessed it yesterday wherein bitcoin's value dropped which caused huge fluctuations in the value of altcoins and even drove altcoins to red zone but when Bitcoin quickly regained the value he altcoin market got steady.

Sometimes we don't see pump in the value of altcoins when Bitcoin surges but whenever there is a adrop in the value of Bitcoin it definitely causes chaos to altcoin market.

don't be surprised, altcoin trading is like that. no one can guarantee a high jump over altcoins. then we have to be good at managing assets in altcoins. don't hold it in too long. always sell if you make a profit. do not look at the size of the profits, because it depends on how much to buy with your own funds. because we don't know how long the altcoin hipe will last

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December 10, 2020, 07:06:41 PM
 #4

At the time of writing, Bitcoin represents roughly 63% of the crypto market cap. This leads me to believe that it may not be so much that other alt coins depend on bitcoin for price, but more that if something affects Bitcoin price, it then affects majority of the crypto economy.

If some news / trends have a impact on on the player that holds 63% of the market cap, its bound to affect the other smaller players in a similar way.
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December 10, 2020, 07:12:26 PM
 #5

Bitcoin has a market dominance of over 60%, this means a change in the price of Bitcoin is significant enough to influence the entire cryptocurrency market, causing the value of altcoins to be somewhat correlated with it.

This of course does not mean every single altcoin would mirror the price changes in Bitcoin, if it was so one would simply buy any altcoin when they expect Bitcoin to pump so as to take profit from it and everyone would be gaining from the market. There is no guarantee on how the market would behave and every coin has to be considered individually if one is looking to invest in them.

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December 10, 2020, 08:14:52 PM
 #6

Bitcoin has a market dominance of over 60%, this means a change in the price of Bitcoin is significant enough to influence the entire cryptocurrency market, causing the value of altcoins to be somewhat correlated with it.

This of course does not mean every single altcoin would mirror the price changes in Bitcoin, if it was so one would simply buy any altcoin when they expect Bitcoin to pump so as to take profit from it and everyone would be gaining from the market. There is no guarantee on how the market would behave and every coin has to be considered individually if one is looking to invest in them.

I agree with you, even though a good percentage of altcoin fluctuates along with bitcoin's fluctuations but it doesn't mean every altcoin will follow the same and 2018 bearish market was one of the example wherein ETH reached its peak when Bitcoin was dumped but most of the altcoins does get impacted by bitcoin's fluctuations due to large market share of bitcoin. Again things might change in the future as crypto market is unpredictable and we might see vice versa as well.

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December 10, 2020, 11:05:08 PM
 #7

Bitcoin has proved it once again that it's the key player in the world of crypto and prices of altcoins depends of bitcoin, we witnessed it yesterday wherein bitcoin's value dropped which caused huge fluctuations in the value of altcoins and even drove altcoins to red zone
Sometimes we don't see pump in the value of altcoins when Bitcoin surges but whenever there is a adrop in the value of Bitcoin it definitely causes chaos to altcoin market.

However, correlations like this are not always fixed. Sometimes the price of Bitcoin rises, some popular Altcoins also jump sharply. So there’s still a pump
going on here. But we can only count the number of altcoins at the pump fingers. But sometimes the price of Bitcoin rises, some Altcoins experience a lot of decline.
Bitcoin price movements affect the price of Altcoins. but the correlation is not always predictable, but it is the most common trend.
There are several trends that have historically occurred between Bitcoin and Altcoins. Anything can happen. Where that any future events are not necessarily
the same as the conditions in the past.

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December 10, 2020, 11:30:55 PM
 #8

Have no question about that, from scratch to become a known cryptocurrency in the world, that was enough to tell that Bitcoin has something to show with us and such potentiality is visible to everyone that knows about bitcoin. This thing has been helping people at this time where the cashless payment system is widely used. Well, not only that but it gives the people also to become profitable.

It was really a big mistake losing such an opportunity, and I dumb to blame myself if I miss this thing.

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December 10, 2020, 11:38:31 PM
 #9

Bitcoin has proved it once again that it's the key player in the world of crypto and prices of altcoins depends of bitcoin, we witnessed it yesterday wherein bitcoin's value dropped which caused huge fluctuations in the value of altcoins and even drove altcoins to red zone but when Bitcoin quickly regained the value he altcoin market got steady.

Sometimes we don't see pump in the value of altcoins when Bitcoin surges but whenever there is a adrop in the value of Bitcoin it definitely causes chaos to altcoin market.

 Of course bitcoin is the only digital currency with a higher value in the market and with great demand. Bitcoin will always be the market leader that's why altcoin always follow at bitcoins back, it will continue to affect the whole crypto market.

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December 10, 2020, 11:40:43 PM
 #10

Bitcoin has proved it once again that it's the key player in the world of crypto and prices of altcoins depends of bitcoin, we witnessed it yesterday wherein bitcoin's value dropped which caused huge fluctuations in the value of altcoins and even drove altcoins to red zone but when Bitcoin quickly regained the value he altcoin market got steady.

Sometimes we don't see pump in the value of altcoins when Bitcoin surges but whenever there is a adrop in the value of Bitcoin it definitely causes chaos to altcoin market.

They dont really correlate from time to time where market can either go opposite ways or going in the same time but it do prove out that it cant happen always. When bitcoin market is on surge then its neither altcoins would go the same move or would just steady or deeply in reds. When you do see this kind of scenario then utilize up things for your own benefit or making profits opportunity. Bitcoin had never failed to impress us when it comes to dominance and its potential. Although you can make also money with alts but of course you would need to take some risk.

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December 10, 2020, 11:42:13 PM
 #11

It's the trend on the market right now as the price is going sideways for weeks, bitcoin value will increase over time that supposedly already reaches $20k but the demand is inadequate to break the wall. Although it falls below $18k, bitcoin will recover to $19k eventually, it just time matters because bitcoin has the potential to reach a new ATH in 2021 and we don't want to miss it by selling bitcoin at this price range.
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December 10, 2020, 11:42:38 PM
 #12

Aside from the altcoins being directly influenced by bitcoin. I believe alcoin investors are also influenced by bitcoin's, price fluctuation. Most people are on the no regarding high transaction fees, and yesterday's price is the lowest it can get this year, so it wouldn't be a surprise for alts to lose value as well as mass withdrawals happened. That being said, we can see how great bitcoin's impact is by being the standard of cryptocurrency.
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December 10, 2020, 11:49:53 PM
 #13

Bitcoin has proved it once again that it's the key player in the world of crypto and prices of altcoins depends of bitcoin, we witnessed it yesterday wherein bitcoin's value dropped which caused huge fluctuations in the value of altcoins and even drove altcoins to red zone but when Bitcoin quickly regained the value he altcoin market got steady.

Of course if not all, majority of altcoins is paired with bitcoin. So obviously, bitcoin is the measuring stick of all crypto coins. People really don't understand that altcoin market is more volatile than bitcoin, and they think that they can make quick and big money in altcoin, yes it's true, there is this pump-and-dump method in altcoin. But if you are not that careful, chances are you are going to lose your money very fast as well. And just observed that we are near all time high, or as others have said, we have reach in already. But look at the top 10 altcoins, most of the are not even close to 50% of their previous all time highs.


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December 10, 2020, 11:59:50 PM
 #14

Bitcoin has proved it once again that it's the key player in the world of crypto and prices of altcoins depends of bitcoin, we witnessed it yesterday wherein bitcoin's value dropped which caused huge fluctuations in the value of altcoins and even drove altcoins to red zone but when Bitcoin quickly regained the value he altcoin market got steady.

Of course if not all, majority of altcoins is paired with bitcoin. So obviously, bitcoin is the measuring stick of all crypto coins. People really don't understand that altcoin market is more volatile than bitcoin, and they think that they can make quick and big money in altcoin, yes it's true, there is this pump-and-dump method in altcoin. But if you are not that careful, chances are you are going to lose your money very fast as well. And just observed that we are near all time high, or as others have said, we have reach in already. But look at the top 10 altcoins, most of the are not even close to 50% of their previous all time highs.


By now, we should know that bitcoin is a major driving force in the cryptocurrency market.
So I don't think, bitcoin needs approval anymore from anyone.
There are alts that are worth following for because of their specific use cases.
However, we always go back to bitcoin whenever we need to convert it to our local fiat or other crypto transactions.
People even non-crypto users are more oriented with btc than any other alts, even with eth or xrp.

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December 11, 2020, 12:21:40 AM
 #15

Bitcoin has proved it once again that it's the key player in the world of crypto and prices of altcoins depends of bitcoin, we witnessed it yesterday wherein bitcoin's value dropped which caused huge fluctuations in the value of altcoins and even drove altcoins to red zone but when Bitcoin quickly regained the value he altcoin market got steady.
Investors still Believe and respect the Pioneering and King crypto ,So the movement always depend on how Bitcoin reacted in market.
If only there is no Platforms offering their BS in market we will see that The growing currencies starts and continuing now but of course there are newly created exchange that getting into the situation so we are still in pending now.
Sometimes we don't see pump in the value of altcoins when Bitcoin surges but whenever there is a adrop in the value of Bitcoin it definitely causes chaos to altcoin market.
there might some Alts that can move in different ways because they are supported by their own investors and Team so they are mostly not affected in each move but how long will it takes to be independent ?well no one knows but if you have been here for quite some time,We already knew what happens in some of them.

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December 11, 2020, 01:19:43 AM
 #16

I believe there is no definite pattern here. There were also countless of times when the price of Bitcoin is going down and the prices of altcoins, at least the leading ones, are soaring high. Case in point, when Bitcoin reached around $20,000 mid December of 2017, the price of Ethereum was only around $600. By mid January of the following year, Bitcoin has already lost around 30% of its price but Ethereum has more than doubled.

Of course, Bitcoin is the key player. It always has been and will always be the key player. It is always the dominant coin in the market but you cannot create a fixed formula which says when Bitcoin goes up altcoins go up and when Bitcoin goes down altcoins go down as well.

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December 11, 2020, 01:33:02 AM
 #17

Of course if not all, majority of altcoins is paired with bitcoin. So obviously, bitcoin is the measuring stick of all crypto coins. People really don't understand that altcoin market is more volatile than bitcoin, and they think that they can make quick and big money in altcoin, yes it's true, there is this pump-and-dump method in altcoin. But if you are not that careful, chances are you are going to lose your money very fast as well. And just observed that we are near all time high, or as others have said, we have reach in already. But look at the top 10 altcoins, most of the are not even close to 50% of their previous all time highs.
Since 2019, more exchanges create more USDT pairs for altcoins and traders have more convenience with more pairs to trade altcoins. It does not change the role of bitcoin in the market, as a leader, as a King and its effects on altcoins and capital flow are unchanged.

Altcoins are pumped and dumped with news from upgrades, development process, partnership and with general trend of the market. Trend is a friend and can help to get profit with altcoin investment. I would prefect to invest in silent altcoins rather than those altcoins have rallied too much this year.

I believe there is no definite pattern here. There were also countless of times when the price of Bitcoin is going down and the prices of altcoins, at least the leading ones, are soaring high. Case in point, when Bitcoin reached around $20,000 mid December of 2017, the price of Ethereum was only around $600. By mid January of the following year, Bitcoin has already lost around 30% of its price but Ethereum has more than doubled.
It is the capital flow and capital cycle. Whales manipulate the market but their ultimate goals is collecting profits. They get profit in Bitcoin, cash out to USD or stablecoin and dump altcoins at same time. They come back to manipulate altcoins in BTC pairs, get more BTC, and manipulate BTC again to get more USD or stable coins.

Quote
Of course, Bitcoin is the key player. It always has been and will always be the key player. It is always the dominant coin in the market but you cannot create a fixed formula which says when Bitcoin goes up altcoins go up and when Bitcoin goes down altcoins go down as well.
Altcoins are more vulnerable with news and law regulations than bitcoin.
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December 11, 2020, 01:44:45 AM
 #18

Nothing new as this is happening for a long time already. With 62.9% dominance, the price of Bitcoin and its movement are somewhat correlated with the price of altcoins since they are moving the same.
With that, there are still some altcoins that are doing the opposite and you can see this down below. You might not see it but there are some who are just going up while most of the coins are going down and these are the low market cap coins Cheesy.

Anyway, this kind of scenario is not uncommon already as we saw this many times. I'm just happy that the market is generous and investors are given again another chance to enter at a lower price to maximize their profit.

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December 11, 2020, 02:04:19 AM
 #19

The news of MassMutual buying $100 million in Bitcoin has had a positive impact on price and strengthened it's position as the market leader. The store of value use case is what is driving demand for Bitcoin over any alternatives. Once the altcoin and DeFi hype started to fade we have seen Bitcoin dominance starting to rise again.

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December 11, 2020, 02:14:39 AM
 #20

Bitcoin has proved it once again that it's the key player in the world of crypto and prices of altcoins depends of bitcoin, we witnessed it yesterday wherein bitcoin's value dropped which caused huge fluctuations in the value of altcoins and even drove altcoins to red zone but when Bitcoin quickly regained the value he altcoin market got steady.

Sometimes we don't see pump in the value of altcoins when Bitcoin surges but whenever there is a adrop in the value of Bitcoin it definitely causes chaos to altcoin market.

It's been so long since we have the other Altcoins increase their price along with bitcoins. Now we are at it again where those altcoins have even doubled their prices than before because of the current surge in the price of bitcoins in the market. Like for example the price of XRP and the ETH, as we can see, it goes along with the bitcoins. their prices have increased a lot too and XRP has gained double the amount of its price.

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December 11, 2020, 05:15:40 AM
 #21

The dominance of the bitcoin market is good by 62% which could increase in 2021 and the years to come. Because I think there will be big changes after all the good announcements this year. On the other hand when the price of Bitcoin goes down like now. If you have the opportunity to buy, you better buy.

With more news about big companies that have bought Bitcoin like MassMutual that bought $ 2.3 billion of bitcoin it gives me to think that there will be less bitcoin circulating because these big companies hold their bitcoins forever.

https://www.google.com/amp/s/www.wsj.com/amp/articles/massmutual-joins-the-bitcoin-club-with-100-million-purchase-11607626800



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December 11, 2020, 06:16:25 AM
 #22

Yeah, there is no denying that bitcoin is the leading coin and will always be in the same position. As we are seeing more and more institutions coming forth in the crypto world, the more power is going to the bitcoin. Eventually, govs will also be willing to accept its power.
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December 11, 2020, 06:23:40 AM
 #23

It's the pattern available right now as the cost is going sideways for quite a long time, bitcoin worth will increment after some time that apparently as of now comes to $20k yet the interest is insufficient to break the divider. In spite of the fact that it falls underneath $18k, bitcoin will recuperate to $19k in the long run, it simply time matters on the grounds that bitcoin can possibly arrive at another ATH in 2021 and we would prefer not to miss it by selling bitcoin at this value range.
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December 11, 2020, 06:53:14 AM
 #24

Yes, such a phenomenon is present and this is justified if bitcoin is growing, then all the altcoins are behind it, this is explained by the fact that if large investments enter the market, then not only in bitcoin but also in other cryptocurrencies and, accordingly, altcoins are growing

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December 11, 2020, 06:59:57 AM
 #25

Bitcoin has proved it once again that it's the key player in the world of crypto and prices of altcoins depends of bitcoin, we witnessed it yesterday wherein bitcoin's value dropped which caused huge fluctuations in the value of altcoins and even drove altcoins to red zone but when Bitcoin quickly regained the value he altcoin market got steady.

Sometimes we don't see pump in the value of altcoins when Bitcoin surges but whenever there is a adrop in the value of Bitcoin it definitely causes chaos to altcoin market.

This questions again the importance of altcoins in the cryptocurrency markets.Do we really need altcoins?
Is there any altcoin,that doesn't depend on the Bitcoin price (I'm not talking about stablecoins)?
When Bitcoin is bullish,many traders jump on altcoins,because they are expecting higher profit margins from altcoin prices rather than the Bitcoin price.If the Bitcoin price drops,all those altcoin traders start panic selling,instead of HODLing.I guess that they don't have enough trust in altcoins.
This proves again that Bitcoin is mostly for the HODLers,while altcoins are mostly for the day traders. Grin

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December 11, 2020, 07:09:30 AM
 #26

Bitcoin has proved it once again that it's the key player in the world of crypto and prices of altcoins depends of bitcoin, we witnessed it yesterday wherein bitcoin's value dropped which caused huge fluctuations in the value of altcoins and even drove altcoins to red zone but when Bitcoin quickly regained the value he altcoin market got steady.

Sometimes we don't see pump in the value of altcoins when Bitcoin surges but whenever there is a adrop in the value of Bitcoin it definitely causes chaos to altcoin market.
In the cryptocurrency market, the major currency is Bitcoin. Although fiat, Ethereum, and Tether currencies are frequently used.
Altcoin are used to fund bitcoin runs, and Bitcoin funds Alt’s operations. As it relates, movements in the price of Bitcoin are likely
to have an influence on the price of Altcoins. When the price of Bitcoin rises rapidly, the chances are it will depress Altcoins as money
flows into the Bitcoin market. On other occasions, Altcoins will go up, as fiat currencies flow throughout the crypto market, usually,
this phenomenon occurs when a fresh wave of adoption occurs.

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December 11, 2020, 07:15:23 AM
 #27

Bitcoin has proved it once again that it's the key player in the world of crypto and prices of altcoins depends of bitcoin, we witnessed it yesterday wherein bitcoin's value dropped which caused huge fluctuations in the value of altcoins and even drove altcoins to red zone but when Bitcoin quickly regained the value he altcoin market got steady.

Sometimes we don't see pump in the value of altcoins when Bitcoin surges but whenever there is a adrop in the value of Bitcoin it definitely causes chaos to altcoin market.

You will not find much dump in the bitcoin prices because institutions are ready to buy every dip. The altcoin market is not so good these days because of high bitcoin dominance. In coming days, bitcoin will cross all time high so its best time to accumulate as many bitcoins as possible.
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December 11, 2020, 07:24:27 AM
 #28

Bitcoin has proved it once again that it's the key player in the world of crypto and prices of altcoins depends of bitcoin, we witnessed it yesterday wherein bitcoin's value dropped which caused huge fluctuations in the value of altcoins and even drove altcoins to red zone but when Bitcoin quickly regained the value he altcoin market got steady.
Traders and investors will always bet for the safeties of having funds inside bitcoin so they might go around their other funds but there will always remaining in Bitcoin ths is why in each movement alts will always go only once Bitcoin moves first,even if uptrend or downtrend .
Sometimes we don't see pump in the value of altcoins when Bitcoin surges but whenever there is a adrop in the value of Bitcoin it definitely causes chaos to altcoin market.
But not in 2018 when price of Bitcoin completely going insane but altcoins are doing their trend up,means their supporters can do it after manipulating Bitcoin.
but it is always nice to see the Domino effect of bitcoin  action makes us trust the currency more.

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December 11, 2020, 07:40:57 AM
 #29

Prove what? It has been happening since day one. When price of bitcoin starts to rise, we see altcoins dropping. Probably because people wants to join the bitcoin bull run, so they dump their coins. After a while, the price of altcoins also start to rise. This is also because people who sold their altcoins now starts to buy it for cheap, hence altcoin slowly starts to rise back. When bitcoin starts to drop, altcoins also starts to drop more badly since most altcoins are traded in btc pairs.

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December 11, 2020, 07:58:03 AM
 #30

Yes, such a phenomenon is present and this is justified if bitcoin is growing, then all the altcoins are behind it, this is explained by the fact that if large investments enter the market, then not only in bitcoin but also in other cryptocurrencies and, accordingly, altcoins are growing

I also see the market is in red. All tokens in my portfolio are in red slowly dropping from 300$ approaching to 150$. Anyway, I'm optimistic that the market will recover again in due time. I'm not so worried of my investment because I know they are potential and can recover again in a matter of time.

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December 11, 2020, 08:16:21 AM
 #31

We just need to not expect to the bitcoin and altcoin have all same movement because they are different coins. We are seeing before we saw a same movement in the bull run but now they have different but don't worry next year it is possible to see a same things which is the price will pump and for the both investors of the bitcoin and altcoins if they invest to the cryptocurrency.
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December 11, 2020, 08:24:30 AM
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That is just the truth and the better most people start understanding that, the better for them. When I say most people, I refer to those who still think an altcoin will overtake Bitcoin or one altcoin is worthy enough to be better than Bitcoin, well I will leave them to that. About the market, it is very obvious that the price of altcoins depends on Bitcoin, and with the increasing rate of Bitcoin's dominance, it further widens that gap and makes them heavily dependent. However, there are still some altcoins that tends to move in relation with Bitcoin, that is, with Bitcoin growth, they also grow with it and vice versa, altcoins such as Ethereum. In the same way, there are a whole lot of others that, once Bitcoin grows they dumps and if Bitcoin dumps, they also dump with it; but in general, Bitcoin dump brings about a big chaos in altcoin market.

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December 11, 2020, 08:52:36 AM
 #33

Bitcoin has proved it once again that it's the key player in the world of crypto and prices of altcoins depends of bitcoin, we witnessed it yesterday wherein bitcoin's value dropped which caused huge fluctuations in the value of altcoins and even drove altcoins to red zone but when Bitcoin quickly regained the value he altcoin market got steady.

Sometimes we don't see pump in the value of altcoins when Bitcoin surges but whenever there is a adrop in the value of Bitcoin it definitely causes chaos to altcoin market.

I'm sure it's because of the annual Christmas celebrations and it seems like it's happened a lot in the previous year. At the end of each year leading up to Christmas bitcoin will experience a price drop and will usually stabilize in the early to mid-year. I've seen it a lot.

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December 11, 2020, 09:58:14 AM
 #34

Yes, such a phenomenon is present and this is justified if bitcoin is growing, then all the altcoins are behind it, this is explained by the fact that if large investments enter the market, then not only in bitcoin but also in other cryptocurrencies and, accordingly, altcoins are growing

I also see the market is in red. All tokens in my portfolio are in red slowly dropping from 300$ approaching to 150$. Anyway, I'm optimistic that the market will recover again in due time. I'm not so worried of my investment because I know they are potential and can recover again in a matter of time.

It is good if you still have confidence and believe in the market. Many of us doubt that the market will be back soon because we have already seen many corrections since the last months. But we still need to optimist that it is just correction that can happen anytime, and we don't have to worry about that. Everything will be back to normal, and the price will start to increase again. Meanwhile, we can buy more bitcoin again this time before the price break to $19k.

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December 11, 2020, 10:17:52 AM
 #35

Bitcoin has proved it once again that it's the key player in the world of crypto and prices of altcoins depends of bitcoin, we witnessed it yesterday wherein bitcoin's value dropped which caused huge fluctuations in the value of altcoins and even drove altcoins to red zone but when Bitcoin quickly regained the value he altcoin market got steady.

Sometimes we don't see pump in the value of altcoins when Bitcoin surges but whenever there is a adrop in the value of Bitcoin it definitely causes chaos to altcoin market.

You will not find much dump in the bitcoin prices because institutions are ready to buy every dip. The altcoin market is not so good these days because of high bitcoin dominance. In coming days, bitcoin will cross all time high so its best time to accumulate as many bitcoins as possible.
You actually oppose one of the known phrase- Bitcoin goes up like staircase and fall like an elevator. However, You're word positive enough to impress others however i'm in tough situation whether things repeat as before or those big institutions save us this time to deep more.
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December 11, 2020, 10:18:17 AM
 #36

I also see the market is in red. All tokens in my portfolio are in red slowly dropping from 300$ approaching to 150$. Anyway, I'm optimistic that the market will recover again in due time. I'm not so worried of my investment because I know they are potential and can recover again in a matter of time.
There are times when the market will recover. Pump and dumb are common.
But even so, you must still have a strategy to be able to maintain your investment capital. If the market is bearish and falling beyond our predicted price, we must have spare money to buy back at the bottom price. Do not use 100% of the funds you have. Use about 30% -50% to overcome the shock that will occur.

Staying optimistic and not doing Cutloss will be better than having to panic and end up wasting your money for nothing.

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December 11, 2020, 10:31:04 AM
 #37

Yes, such a phenomenon is present and this is justified if bitcoin is growing, then all the altcoins are behind it, this is explained by the fact that if large investments enter the market, then not only in bitcoin but also in other cryptocurrencies and, accordingly, altcoins are growing

I also see the market is in red. All tokens in my portfolio are in red slowly dropping from 300$ approaching to 150$. Anyway, I'm optimistic that the market will recover again in due time. I'm not so worried of my investment because I know they are potential and can recover again in a matter of time.

It is good if you still have confidence and believe in the market. Many of us doubt that the market will be back soon because we have already seen many corrections since the last months. But we still need to optimist that it is just correction that can happen anytime, and we don't have to worry about that. Everything will be back to normal, and the price will start to increase again. Meanwhile, we can buy more bitcoin again this time before the price break to $19k.

If you do believe that it will pumped back again.

Buying from this area might be a good then hold and wait for the value to rise back and bring you a good compensation, most of the
time it's your own assessment that will gives you the hint whatever position to take. Bitcoin influenced the market and still showing that
with this current downfall.
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December 11, 2020, 10:34:25 AM
 #38

We know all that Bitcoin is a mother coin and it will remain the mother always. We have seen when Bitcoin drop, then at the same time most of the altcoins following the bitcoin trend, but during recovery Bitcoin price most altcoin can't follow the bitcoin trend. That's why sometimes alt traders regret it. I had done the same mistake previously. During trading, I thought my bought coin would follow the trend of Bitcoin. But it didn't happen ever and I lost a huge amount of funds.

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December 11, 2020, 10:38:28 AM
 #39

I actually think bitcoin will replace real gold and become digital gold. Therefore, it seems to me that even now the price of bitcoin is still far from the top.
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December 11, 2020, 10:54:16 AM
 #40

Bitcoin has proved it once again that it's the key player in the world of crypto and prices of altcoins depends of bitcoin, we witnessed it yesterday wherein bitcoin's value dropped which caused huge fluctuations in the value of altcoins and even drove altcoins to red zone but when Bitcoin quickly regained the value he altcoin market got steady.

Sometimes we don't see pump in the value of altcoins when Bitcoin surges but whenever there is a adrop in the value of Bitcoin it definitely causes chaos to altcoin market.
In my opinion this is because the Bitcoin downtrend can occur at any time for correction, and cannot be predicted with certainty, so do an accurate assessment and vision every day to ensure an increase in the Bitcoin price, so you can easily take excellent opportunities by buying Altcoins which you think is good and stable for your investment in the market.

Why is it that every time the Bitcoin price drops, the Altcoin market becomes a red zone? because Bitcoin is the heart of all Altcoins, so if the Bitcoin price decreases the Altcoin price will automatically be affected by this decrease in the Bitcoin price.

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December 11, 2020, 11:00:45 AM
 #41

Agree, things have never changed even after a decade BTC is dominating and still ruling the crypto market it shows how capable and powerful coin it is.

I never thought altcoins will drop massively then I realized oh it's BTC who is making impact in the market, However we need to wait unless BTC recovers if this happens alts too will make noise in the market.









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December 11, 2020, 11:05:21 AM
 #42

You are right that the price of Bitcoin depends on the price of other altcoin as the price of bitcoin goes down so does the price of altcoin therefore it is necessary to analyze the market properly and evaluate the currencies. Seeing the market is not stable no one can observe the price difference but bitcoin is above all nothing can compete with bitcoin.

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AniviaBtc
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December 11, 2020, 12:43:56 PM
 #43

Sometimes we don't see pump in the value of altcoins when Bitcoin surges but whenever there is a adrop in the value of Bitcoin it definitely causes chaos to altcoin market.

In that type of scenario, you will really see that altcoins only depends on how important bitcoin in the market.

Once bitcoin is weak and don't have any positive movements in the market, other investors will now put their attention on altcoins where they can make profits.

Sometimes it is the season and proper timing that matters in cryptocurrency world, it is the observation and making predictions in the market that will help you earn more profits.

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December 11, 2020, 12:47:35 PM
 #44

It has always been like this since Bitcoin has become the most dominant cryptocurrency in the market. As long as the dominant cryptocurrency doesn't change, Bitcoin will continue affecting altcoin prices.

That's why we can't deny that bitcoin is the best cryptocurrency in the world and those altcoins are just its deputy when bitcoin is not doing well.

We all know that there are factors that hugely affect the price of bitcoin but when it comes to altcoins, bitcoin is the number 1 crypto that hardly affect its price.

When bitcoin is bullish then altcoins will not be that stable, but when bitcoin is stable, I guarantee you that altcoins will boom in the alt market.
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December 11, 2020, 03:54:26 PM
 #45

Bitcoin has proved it once again that it's the key player in the world of crypto and prices of altcoins depends of bitcoin, we witnessed it yesterday wherein bitcoin's value dropped which caused huge fluctuations in the value of altcoins and even drove altcoins to red zone but when Bitcoin quickly regained the value he altcoin market got steady.

Sometimes we don't see pump in the value of altcoins when Bitcoin surges but whenever there is a adrop in the value of Bitcoin it definitely causes chaos to altcoin market.

Well, there was nothing to prove anyways, most people involved in crypto already know that bitcoin is the one that drives the market.

The reason for altcoins not going up alongside of bitcoin is because most of the money is flowing into Bitcoin at that moment, if you follow BTC domination chart you can clearly see that.

Altcoins will have their moments though and they tend to increase in price while Bitcoin is relatively strong and is going sideways, but when Bitcoin is the center of the attention like right now you will only see the increase of the price on BTC and other high cap altcoins like Ethereum, other low cap altcoins can only increase based on good news and even then their pump would not usually last that much and they could just as easily get back to their original price after a while.
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December 11, 2020, 04:20:48 PM
 #46

Bitcoin has proved it once again that it's the key player in the world of crypto and prices of altcoins depends of bitcoin, we witnessed it yesterday wherein bitcoin's value dropped which caused huge fluctuations in the value of altcoins and even drove altcoins to red zone but when Bitcoin quickly regained the value he altcoin market got steady.


Bitcoin in a way actually has control over altcoins but not all altcoins. If you notice, you'd see that some altcoins seem to maintain their balance or even go more green when bitcoin slides into a depression.



 

 

 

 

 

 


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December 11, 2020, 08:20:20 PM
 #47

Sometimes we don't see pump in the value of altcoins when Bitcoin surges but whenever there is a adrop in the value of Bitcoin it definitely causes chaos to altcoin market.
Yep, it is the fact that most altcoins depend on Bitcoin price. When the Bitcoin price is decreasing, we will see that the prices of almost all altcoins begin to drop as well. Also when the price of Bitcoin is increasing, the prices of many altcoins start to increase gradually. It clearly shows if Bitcoin can determine the prices of many altcoins, except the price of stable coins like USDT. Yeah, this proves that Bitcoin is the king of crypto coins and it is the most influential coin till now.

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December 11, 2020, 09:08:05 PM
 #48

Bitcoin's bullish and bearish wait is really dire for the crypto market as a whole because the king has shown to all of his people the influence in value and importance. There is also a limitation of the crypto market. Because it all depends on Bitcoin, the Altcoins lose their discretion. Some of my Altcoins have dropped dramatically.
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December 11, 2020, 10:00:18 PM
 #49

It's a usual thing that personally am used ot it. Bitcoin has a dominance of over 60% in total market cap and this means alot. Alts will definetely bow to its actions everytime. This will continue to happen untill if possible the dominance is reduced by more than half which is not feasible for now.

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December 11, 2020, 10:22:03 PM
 #50

When trading altcoins, I always monitor the Bitcoin chart. Altcoins are dependent on Bitcoins price, a sudden pump means a suddend pump for altcoin also and a sudden dump means a sudden dump for altcoins. Altcoins are controlled by whales and they just follow the Bitcoins direction. In some cases, altcoin make their own move when something is to happen or a special event will happen. But most of the time, Bitcoin takes the lead.
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December 11, 2020, 10:48:28 PM
 #51

It's a well known fact that altcoins follow Bitcoin and the weakest altcoins drop the most when Bitcoin does it.

People choose altcoins over Bitcoin usually because they think they can't afford a full bitcoin so there's no reason to hold it, which is stupid, or because they are expecting much greater volatility.
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December 11, 2020, 10:58:22 PM
 #52

Bitcoin's bullish and bearish wait is really dire for the crypto market as a whole because the king has shown to all of his people the influence in value and importance. There is also a limitation of the crypto market. Because it all depends on Bitcoin, the Altcoins lose their discretion. Some of my Altcoins have dropped dramatically.
The good thing about crypto is that we have option of trading them both that we can still earn since when one drops the others might have some pump. Opportunity is always visible and Being able to monitor the market is a plus too for traders since they can get the right time to buy at low when the chart seems to go higher. Unlike in 2017 that both altcoins and BTC pump, altcoins may take time to create their hype again after DeFi.

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December 11, 2020, 11:00:57 PM
 #53

Of course Bitcoin movements can affect the price of altcoins, because Bitcoin dominates the crypto market by up to 62%.
So we have to be careful when trading with altcoins, don't just analyze the movement of the altcoins that we are going to buy.
But do an analysis of the price of Bitcoin too, that way the safer the decisions we will make. After all Bitcoin is an important
key in the world of cryptocurrency.

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December 12, 2020, 01:01:22 AM
 #54

Bitcoin has proved it once again that it's the key player in the world of crypto and prices of altcoins depends of bitcoin, we witnessed it yesterday wherein bitcoin's value dropped which caused huge fluctuations in the value of altcoins and even drove altcoins to red zone but when Bitcoin quickly regained the value he altcoin market got steady.

Sometimes we don't see pump in the value of altcoins when Bitcoin surges but whenever there is a adrop in the value of Bitcoin it definitely causes chaos to altcoin market.
You can't compare both because they are separate market which bitcoin has its own per to per and when it comes to altcoins maybe it just a coincidence that the volume of bitcoin has drop not unlike bitcoin it can regain its own and be at the higher price again because their are people are who are buying and selling they thinking that making some of profit that came from bitcoin are going to use it in altcoins, Well pumping bitcoin doesn't affect those altcoins which people have their own decision which what they are going to make.
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December 12, 2020, 09:53:08 AM
 #55

If you do believe that it will pumped back again.

Buying from this area might be a good then hold and wait for the value to rise back and bring you a good compensation, most of the
time it's your own assessment that will gives you the hint whatever position to take. Bitcoin influenced the market and still showing that
with this current downfall.

I believe that the bitcoin price will get pumped again soon.

I already buy bitcoin below the current price, and I still wait for more, but if the trend is going down again, I will buy more if necessary. I want to buy bitcoin, especially if the price can dump so hard Grin

The market signal shows that bitcoin has good moves right now, but we need to be careful because no guarantee to see the price can increase above.

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December 12, 2020, 10:07:17 AM
 #56

Bitcoin has proved it once again that it's the key player in the world of crypto and prices of altcoins depends of bitcoin, we witnessed it yesterday wherein bitcoin's value dropped which caused huge fluctuations in the value of altcoins and even drove altcoins to red zone but when Bitcoin quickly regained the value he altcoin market got steady.


Simply shows bias to how I vew your perspective regarding the market price of Bitcoin and Altcoins. In my opinion, there's no existing correlation with regards to their market value simply because there are times wherein Bitcoin is having a price increase, while Altcoins are not having any. Times wherein both market prices are falling, and times wherein dump occurs to altcoin market alone. Thus, this breaks the assumption that these two subjects are connected with one another. Fluctuations are just normal and is something innate in this technology probably because of the characteristics this technology is having. If you will check the charts on the previous market price behaviors, you would probably understand my take on this topic. Patterns are having no existence in this technology especially regarding their market prices.



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December 12, 2020, 11:56:36 AM
 #57

It's the example accessible right now as the expense is going sideways for a significant long time, bitcoin worth will augment after some time that obviously starting at now comes to $20k yet the interest is lacking to break the divider. Disregarding the way that it falls underneath $18k, bitcoin will recover to $19k over the long haul, it basically time matters because bitcoin can show up at another ATH in 2021 and we would incline toward not to miss it by selling bitcoin at this worth reach.

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December 13, 2020, 09:31:54 AM
 #58

It seems like you have not noticed that there are so many altcoins in the cryptocurrency market that doesn’t correlate with bitcoin. The ones that are even correlating with Bitcoin are not much, it’s just Ethereum, Bitcoin Cash, stellar, and a few of these top altcoins, they are the ones that usually follows Bitcoin like 90% of the times that Bitcoin makes a move; if it goes up they will go with it, and when it goes down they will also follow it.

Others are just going their own ways and are not being influenced by any movement that bitcoins takes. I have seen coins that will go up whether Bitcoin is going down or up, they will continue going up, they just don’t have anything to do with BTC.

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December 20, 2020, 06:14:07 PM
 #59

Bitcoin has proved it once again that it's the key player in the world of crypto and prices of altcoins depends of bitcoin, we witnessed it yesterday wherein bitcoin's value dropped which caused huge fluctuations in the value of altcoins and even drove altcoins to red zone but when Bitcoin quickly regained the value he altcoin market got steady.


Bitcoin in a way actually has control over altcoins but not all altcoins. If you notice, you'd see that some altcoins seem to maintain their balance or even go more green when bitcoin slides into a depression.


Bitcoin is the same as USD, as a major trading pair. So that is why the impact of bitcoin prices will also have an impact on altcoins, of course this is also related to each other even though investors are still invested, but the up and down movement of prices for altcoins must have an impact.
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December 20, 2020, 07:03:00 PM
 #60

Bitcoin has proved it once again that it's the key player in the world of crypto and prices of altcoins depends of bitcoin, we witnessed it yesterday wherein bitcoin's value dropped which caused huge fluctuations in the value of altcoins and even drove altcoins to red zone but when Bitcoin quickly regained the value he altcoin market got steady.

Sometimes we don't see pump in the value of altcoins when Bitcoin surges but whenever there is a adrop in the value of Bitcoin it definitely causes chaos to altcoin market.
I do not understand, why bitcoin needs to prove anything? Bitcoin has been the most dominant coin in this market from the very beginning, if any coin wants to show they can move independently from bitcoin then it is up to them to prove that, because I'm pretty sure that we can take any coin that has a long history of being around the market and that has a decent volume and we will find that there is a very high correlation with bitcoin.

Proving that such coin depends almost entirely on the bitcoin movements in order to move itself, and the only way to do something like that will be to improve their technology to the point that they no longer resemble bitcoin anymore, something that probably never going to happen.

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December 20, 2020, 07:53:04 PM
 #61

Exactly, larger part of altcoins is combined with bitcoin. Clearly, bitcoin is the collecting adhere of all crypto coins. Individuals truly do not get it that altcoin showcase is more unstable than bitcoin, and they think that they can make speedy and enormous cash in altcoin, Of course it's genuine, there happens pump & dump strategy in altcoin. But in the event that you're not those careful, chances are you're reaching to lose your cash exceptionally quick as well.

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December 20, 2020, 09:59:25 PM
 #62

Times without numbers bitcoin has proved to be the best and also the king of all crypto currency, i do see alot people saying bitcoin price doesn't have an effect on the crypto market, but to me they are totally wrong cause whenever bitcoin dumps altcoins just follow and dump massively Cheesy, it pumps they still dump Cheesy, I believe every crypto trader normally check the price of bitcoin before buying any altcoin, bitcoin is undoubtedly the leader of the crypto market.

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December 20, 2020, 10:03:21 PM
 #63

Bitcoin now has break the record of 2017 which only at 20K$ per btc compared to present market which recorded already at 23K$ and still counting. I am guessing that it could stretch for more like up to 25K$ and it still possible to go beyond that price. Well, that is the good thing in their wherein a lot of people had been interested in bitcoin lately and that is why it added to the bullish trend for bitcoin.
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December 21, 2020, 05:43:49 AM
 #64

Sometimes we don't see pump in the value of altcoins when Bitcoin surges but whenever there is a adrop in the value of Bitcoin it definitely causes chaos to altcoin market.
The increase in bitcoin price does not always make the altcoin price go up, because the increase in altcoin price is also based on the dominant chart of bitcoin at that time. if the dominant bitcoin chart goes up, the altcoin price will go down and if the dominant bitcoin falls, the altcoin price will go up.
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December 26, 2020, 06:44:00 PM
 #65

Bitcoin now has break the record of 2017 which only at 20K$ per btc compared to present market which recorded already at 23K$ and still counting. I am guessing that it could stretch for more like up to 25K$ and it still possible to go beyond that price. Well, that is the good thing in their wherein a lot of people had been interested in bitcoin lately and that is why it added to the bullish trend for bitcoin.
And just today that is exactly what has happened, bitcoin has surpassed the 25k level and with that price level out of the way bitcoin enthusiasts are already eyeing the 30k level, can we reach that level before the end of the year? It will be difficult but if there is an asset that can pull of that kind of growth is bitcoin.

What I wonder is what will be the limits of the current movement, some people argue this is similar to what we saw in 2017 but others argue this is just the beginning and in fact what we are seeing resembles what we saw at the end of 2016 and if they are right then the year of 2021 is going to be amazing for the market of cryptocurrencies.

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December 26, 2020, 07:48:41 PM
 #66

While I agree, I am still involved a lot with altcoins as when the altcoin season comes each one will be mad again at the high gains any altcoin will be making. Bitcoin is the king but there is a problem. It can't give you a hundred times your profits in a few months anymore. This was the early days. We need altcoins to at least have a small hope we can make it too. So whales shouldn't take this away from the rest of the community. Call it pump and dumps call it anything that the devs will make millions, we still have to holds a few altcoins for the possibility of a moonshot. Not everyone will make it but we can have this dream and be naive enough to hope for this.
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December 26, 2020, 08:28:35 PM
 #67

I occasionally visit the Altcoin board here, and to some people no amount of proof will be enough to admit that Bitcoin is the king of crypto - the keep hoping for alt season and repeating their mantra how their favorite altcoin is better than Bitcoin and will soon replace it. My only hope is that beginners don't get caught in their false marketing - if you have friends who are still new to crypto, please warn them about the danger of investing in alts.
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December 31, 2020, 06:23:05 PM
 #68

I occasionally visit the Altcoin board here, and to some people no amount of proof will be enough to admit that Bitcoin is the king of crypto - the keep hoping for alt season and repeating their mantra how their favorite altcoin is better than Bitcoin and will soon replace it. My only hope is that beginners don't get caught in their false marketing - if you have friends who are still new to crypto, please warn them about the danger of investing in alts.
Unfortunately this is very difficult to change, people see that their coins are similar to bitcoin and they think that it should have roughly the same value or an even greater one, but what they do not understand is that most altcoins are for the most part just cheap imitations of bitcoin, will you pay the same amount of money for a house well built and for a house made of cardboard? The answer is obviously no and yet those people think that somehow people are going to pay a lot to be part of a coin that most likely is a scam anyway.

And newbies are very susceptible to fall for this since they do not have experience in the market, they see in bitcoin just another coin, but even the most minimal knowledge about it tells you that it has a dominance of almost 70% and if anything that number is kind of low and it will keep increasing in the future.

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December 31, 2020, 06:51:38 PM
 #69

Bitcoin already proved its worthiness for how many times so I didn't doubt Bitcoin this year 2020. Ohh wait, it's already 2021 here in my country.

Anyways, bitcoin will truly give us more opportunities in the future and it will prove again that we should adopt more to the usage of it and take advantage of its current market to grow profit. After the 2017 bull run, I stopped spending in altcoins and focused on bitcoin 'cause I know that it will start a bull run again and look at what happened, $29k
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December 31, 2020, 08:23:59 PM
 #70

Bitcoin already proved its worthiness for how many times so I didn't doubt Bitcoin this year 2020. Ohh wait, it's already 2021 here in my country.

Anyways, bitcoin will truly give us more opportunities in the future and it will prove again that we should adopt more to the usage of it and take advantage of its current market to grow profit. After the 2017 bull run, I stopped spending in altcoins and focused on bitcoin 'cause I know that it will start a bull run again and look at what happened, $29k


Yes, that's true as Bitcoin has already proven it's worth numerous times and we shouldn't be sceptical anymore even if we go through one more bearish market we should use it as an opportunity to buyback rather than selling out of panic and fear. I have always believed in Bitcoin and really wanted to reinvest into Bitcoin during 2018 crisis but couldn't due to financial circumstances but now I have saved enough to reinvest in any such bearish market.

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January 01, 2021, 10:26:26 AM
 #71

In my opinion it is very natural that the value of Bitcoin decreases and the value of Altcoins in the market also decreases, because Bitcoin is the king of all Altcoins and it has been clear from the past until now the trend is still valid.
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January 01, 2021, 11:16:12 AM
 #72

It may be some time happen that altcoin price drop or pump with bitcoin price uo and down respectively but not all time because altcoin price depend upon their market. Itay be happen that investor buy one altcoin at larhe amount than bitcoin
Bitcoin proved self after 2017 and their is no doubt in bitcoin price fluctuation. People use bitcoin for their inveatment this why bitcoin price increasing day by days with a high speed.
I want to also hold some bitcoin so that give me a good price at future. 
I think every single investor now first check the bitcoin price before buying altcoin so this may cause the altcoin price relationship with bitcoin price.
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January 01, 2021, 11:57:49 AM
 #73

With a very drastic increase in Bitcoin from December 2020 until now, has proven that Bitcoin is the best cryptocurrency. In fact, only a few
altcoins followed Bitcoin's price increase, and unlike Bitcoin, it went up quite high. The price of altcoins is rising slowly, maybe because
the market is still dominated by Bitcoin as much as 70% today.

Therefore only Bitcoin is currently capable of creating a new ATH, while  the altcoins haven't returned to the ATH price. But many predict that
in 2021 there will be alt seasons which will make all altcoins prices skyrocket back to ATH prices. Therefore we still have to continue to monitor
the development of the cryptocurrency market, whether the prediction is right or wrong.

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January 01, 2021, 12:06:14 PM
 #74

Bitcoin has proved it once again that it's the key player in the world of crypto and prices of altcoins depends of bitcoin, we witnessed it yesterday wherein bitcoin's value dropped which caused huge fluctuations in the value of altcoins and even drove altcoins to red zone but when Bitcoin quickly regained the value he altcoin market got steady.

Sometimes we don't see pump in the value of altcoins when Bitcoin surges but whenever there is a adrop in the value of Bitcoin it definitely causes chaos to altcoin market.
Bitcoin has been proving itself for so long already actually. Even though there are instances where it fails, it still comes back strong later on. Last year, bitcoin was not that strong at the beginning, but as the end of the year approached it clearly proved itself once again. We can clearly see how bitcoin was able to become the pioneer and the one that set the standard for every crypto that followed it. Even though bitcoin's value is high right now, we should set ourselves ready for anything that may happen so that we won't experience massive loss.
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January 01, 2021, 12:40:01 PM
 #75

Bitcoin has been proving itself for so long already actually. Even though there are instances where it fails, it still comes back strong later on. Last year, bitcoin was not that strong at the beginning, but as the end of the year approached it clearly proved itself once again. We can clearly see how bitcoin was able to become the pioneer and the one that set the standard for every crypto that followed it. Even though bitcoin's value is high right now, we should set ourselves ready for anything that may happen so that we won't experience massive loss.
It will happen because of some corrections sometimes , but if the whales wants to dump it will be dump, but the thing is , it's been more than a decade since bitcoin is being created, there's no reason why other people think that bitcoin needs to be proved again its worth in the market, top company worldwide is into bitcoin now and they are already investing on it, somemay create fud and try to eliminate bitcoin by banning it in their country but still bitcoin will never die.

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January 01, 2021, 02:06:46 PM
 #76

I have always known the price of other altcoin is directly proportional to the price of bitcoin in the Crypto market. It’s obvious from the recent developments in the Crypto market that bitcoin influence more than 60% of the price of other altcoin as it’s rhe most accepted in the world.

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January 05, 2021, 09:13:07 PM
 #77

With a very drastic increase in Bitcoin from December 2020 until now, has proven that Bitcoin is the best cryptocurrency. In fact, only a few
altcoins followed Bitcoin's price increase, and unlike Bitcoin, it went up quite high. The price of altcoins is rising slowly, maybe because
the market is still dominated by Bitcoin as much as 70% today.

Therefore only Bitcoin is currently capable of creating a new ATH, while  the altcoins haven't returned to the ATH price. But many predict that
in 2021 there will be alt seasons which will make all altcoins prices skyrocket back to ATH prices. Therefore we still have to continue to monitor
the development of the cryptocurrency market, whether the prediction is right or wrong.
The price of bitcoin is only a rough indication of its true value, when satoshi first created bitcoin a single bitcoin may have had a price of zero dollars as no one was buying it or selling it but it had value as it was the first decentralized currency history has ever seen, the price we see of bitcoin above 30k is just a reflection of the underlying value of the technology.

Most people only care about the price and there is nothing wrong with that but when you really take a look at the technology you begin to see that unless some major disaster hits the world bitcoin is bound to become incredibly valuable as it will provide a safe haven for those that do not believe in fiat currencies anymore and as such its price is also bound to skyrocket as well.

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January 06, 2021, 10:36:33 AM
 #78

No doubt Bitcoin is a precious gem of the crypto market. It is leading the crypto market from the front. when Bitcoin rises it automatically helps in increasing the value of other Altcoins in USD form but there are times when Bitcoin consolidates and Altcoins rises too.

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January 06, 2021, 11:00:14 AM
 #79

Well, it would always be the one that would lead these kinds of movements. Some altcoins might move differently but the first move will always be the role of bitcoin. That is the reason why a lot of people are having an assumption that bitcoin is the one that makes another price of altcoins pump or dump. I would always be the one that would be seen first unlike the others.

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Coinsfera
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January 06, 2021, 02:06:44 PM
 #80

Bitcoin has proved it once again that it's the key player in the world of crypto and prices of altcoins depends of bitcoin, we witnessed it yesterday wherein bitcoin's value dropped which caused huge fluctuations in the value of altcoins and even drove altcoins to red zone but when Bitcoin quickly regained the value he altcoin market got steady.

Sometimes we don't see pump in the value of altcoins when Bitcoin surges but whenever there is a adrop in the value of Bitcoin it definitely causes chaos to altcoin market.
Yes, Bitcoin plays a market maker role in cryptocurrencies. Bitcoin appreciates and other altcoins follow the beast. It is like that and will continue. Also, altcoins can move freely without affected by Bitcoin. The new protocol release or huge buyout can affect the price.

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January 06, 2021, 05:19:01 PM
 #81

We all know that Bitcoin dominates the world of cryptocurrencies alone and is the most popular cryptocurrency for people around the world. The value of most cryptocurrencies fluctuates directly or indirectly depending on Bitcoin. In most cases, the value of other altcoins decreases drastically when the price of bitcoin decreases but the value of other altcoins does not increase at the same rate as the value of bitcoin increases. So far we can't think of cryptocurrency without bitcoin.

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January 06, 2021, 06:27:50 PM
 #82

It's obvious that bitcoin is masters of all coins, from my views bitcoin is the father's of alternative coins, I understand that altcoins  can only get elevated when ever bitcoin increases, and is very clear that when ever bitcoin decreases other coins dropped in price, now since bitcoin started moving up ethereum and other altcoins keeping on increasing, so it's really obvious that without btc no other coins, so I want to know if there is any order way alternative coins can survive without bitcoin?

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January 06, 2021, 06:54:17 PM
 #83

It is true that bitcoin  influences the full crypto market. I think it is because  all altcoins price are calculated  in terms of BTC. Which make the price depend on Bitcoin. 
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January 06, 2021, 11:05:39 PM
 #84

Doubts about Bitcoin have been answered with an increase in the price of Bitcoin which reached $ 36,000. Bitcoin has proven to everyone as
an asset worth buying, even if we look at the opinions of some people in March 2020. Many are pessimistic about the future of Bitcoin,
but at the beginning of 2021 Bitcoin has proven once again that Bitcoin can provide profit to its holders and have a bright future.

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January 06, 2021, 11:47:12 PM
 #85

It's a myth that other coins pump along with bitcoin always. Yes, often it happens with the main players once everyone is excited about trading and profiting so they spill their bitcoin into other currencies.
A currency I held onto had its value stay the same while the other crypto went up by 2-3x so I should have sold earlier I guess but I thought it would go up as well because bitcoin was.
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