Bittrex delisting XMR, DASH and ZEC. Will this affect Bitcoin?

[mardaed]

More and more privacy is taken away from us.

XMR,DASH and ZEC already crashed with more than 15% after the news about delisting on bittrex.
What effect the delisting will have on the bitcoin price?

https://bittrex.zendesk.com/hc/en-us/articles/360054393492-Pending-Market-Removals-01-15-21

I can't see any connection to it, pretty sure it can affect the XMR, DASH and ZEC but with regards to bitcoin then there is not connection that I see in order to affect the bitcoin price from the decision of Bittrex.

But if the investors of those currencies will try to sell their asset and convert to bitcoin then the affect of it to bitcoin is pretty good as bitcoin price will surely to continue to increase but with regards to bitcoin price to decrease because of this happening then I cannot see any good reason that I can connect to it.

[1714703790]

1714703790

[xtrusion]

I think so too that is not a major connection between delisting of privacy coins and BTC performance.
However, its pretty difficult to deal with privacy coins right now if you own some of them.
DASH f.e. is my biggest bet on cyryptomarkets, it seemed much undervalued compared to most other coins / tokens.
Now due to delisting (and the fear that more exchanges will act in a similar way), the situation has changed. But: Could it make sense selling DASH for 90$ or lower right now? It would hurt a lot; DASH was priced at that level even in 2017 when BTC was priced at approx. 1k$ (similar example to ZCash, just XMR performed better)

edit: my thoughts maybe fit better in an alt coin topic..

[Wysi]

It's really an alarming news and I would say this might have been preplanned as regulators (SEC) will gradually start neutralizing altcoins before attempting to cause damage to Bitcoin like they tried in the past but failed miserably. But this will have positive effect on Bitcoin on a short run because Bitcoin might receive those investment when investors move their existing investment from the mentioned coins.

[xtrusion]

It's really an alarming news and I would say this might have been preplanned as regulators (SEC) will gradually start neutralizing altcoins before attempting to cause damage to Bitcoin like they tried in the past but failed miserably. But this will have positive effect on Bitcoin on a short run because Bitcoin might receive those investment when investors move their existing investment from the mentioned coins.

unfortunately agree with you that SEC could damage some alts before hurting btc. privacy coins would be or are a perfect victim for SEC..

mcap of xmr + dash + zec < 1% of mcap of btc, so don't guess any relation, too little volume 

[coolcoinz]

It's really an alarming news (...)

Not that alarming if you don't hold them. I'm happy about XRP, this coin is a disgrace and people are buying it because it's in the top 10, not because it has any purpose or anything.
Bad news for those who hold these coins, good news for Bitcoiners. If we believe the theory that altcoin market takes away from bitcoin, value lost by these altcoins will flow back to coin market cap and be divided among other coins. Maybe it already is since Bitcoin has reached its new high after the news were published.

[MCobian]

I am not so panicked about this news, because right now I don't HODL privacy coins and also rarely use privacy coins for transactions. And also
this news will not have any effect on the Bitcoin price, because from the start all altcoins that are affected by Bitcoin price movements are not
the opposite. Besides, I expected that sooner or later privacy coins would be delisted from several centralized exchanges, because the government
really doesn't like the existence of privacy coins that can be used for illegal activities.

[7788bitcoin]

I think it will not have an important influence on bitcoin price movements because so far bitcoin has a cryptocurrency platform that cannot be controlled by anyone and for altcoins that have been removed from the list of coins on the exchange are altcoins that have problems with regulation.

If the privacy coins are delisted in many exchanges then the investors will cash out huge amounts and then divert those to bitcoin and it will help the price of bitcoin while the price of rest of the coins will go down drastically. After the SEC verdict the price of XRP went down drastically but the price recovered a bit but these situation will hurt the coins during a time when the entire market was supposed to rally.

It is interesting to see how the developers will deal with this situation and this year is interesting as we will see many twist and turns in the entire market.

[pooya87]

I don't think so.
The "current bull run" started about 2 years ago while these "mainstream" dudes started recently.
So how can an IOU trading platform that is not even linked to the real world's bitcoin market can affect bitcoin price?

This is what you want to believe, not what is happening!
You're biased from the start because you don't like PayPal you don't like their PPBTC but for the average Joe, it's a different story.

What the people who have not heard of BTC before and never bothered with the whole open account, exchange, send to the wallet, PP offers a simple way of owning something that would bring them money., they don't care about keys about fees about hacks, all they know is that if they would have bought 100$ worth of that now they have 200$. And people like that are millions, people who care about their keys about all that are thousands.

Like it or not PP has brought a lot of hype and thousands have bought coins with them, you can see tens of examples even here, in the bitcoincultist lair, do you imagine how the balances outside this, where people are not that biased?
There is a tiny difference between not liking it, as I don't do either, and denying it.

I agree with everything you said! I hate these services and at the same time they have let a lot of people buy bitcoin (or what they call bitcoin!) BUT that still doesn't mean they are the reason for this bull run.

Take your PayPal example here, when an average Joe buys bitcoin from PayPal it won't affect the actual bitcoin price that is determined on bitcoin exchanges such as Coinbase, Bitstamp, Kraken or even Bitfinex. Why? Because PayPal is not linked to any of them. If all average Joes dump all their PP.BTC right now it won't affect the bitcoin price either for the same reasons. Now if the same amount were dumped on Coinbase for instance the price will be affected and will drop.

PayPal itself has bought a certain amount of bitcoin (unless they are lying) and is selling THAT to its users. So if there were any influence it had already happened when they made the purchase not every day. Whereas we are seeing the price rise every day.

[CryptopreneurBrainboss]

I don't think this will be the case. if Bittrex delist privacy coins then those privacy coins investors will more to another exchange. they just don't switch to Bitcoin like that. it is not the way to force people to switch to Bitcoin.

Well it doesn't usually happens that way especially when the projects been delisted are target of the government board like SEC. With time all exchange will begin delisting the coins so in the long run money will start flowing form those projects into other projects and bitcoin is most likely going to be the beneficiary.

For the question in the OP, I think it has been answered already as there's no way thingy happening to altcoins will have an impact on the bitcoin market instead when altcoins are faced with bad news it strengthen the bitcoin market and increase its dominance on the market.

Bittrex started the trend and soon other exchanges will follow. It's quite sadden as the investors would be very devastated. After years of holding through the bear, they get this kind of treatment, quite sad.

[davis196]

More and more privacy is taken away from us.

XMR,DASH and ZEC already crashed with more than 15% after the news about delisting on bittrex.
What effect the delisting will have on the bitcoin price?

https://bittrex.zendesk.com/hc/en-us/articles/360054393492-Pending-Market-Removals-01-15-21

Why would privacy coins have an impact over the Bitcoin price?
The only impact of this decision I can think of is the fact that many traders will move their investments out of XMR,DASH and ZEC and buy more BTC.Crypto traders might choose to buy some altcoins instead of BTC,but Bitcoin is THE KING of crypto and always will be.
De-listing privacy coins from crypto exchanges was something that we pretty much expected.
I guess that Monero,DASH and ZEC will become "fully darknet" privacy coins now(mostly Monero).

[stompix]

Take your PayPal example here, when an average Joe buys bitcoin from PayPal it won't affect the actual bitcoin price that is determined on bitcoin exchanges such as Coinbase, Bitstamp, Kraken or even Bitfinex. Why? Because PayPal is not linked to any of them. If all average Joes dump all their PP.BTC right now it won't affect the bitcoin price either for the same reasons. Now if the same amount were dumped on Coinbase for instance the price will be affected and will drop.

PayPal itself has bought a certain amount of bitcoin (unless they are lying) and is selling THAT to its users. So if there were any influence it had already happened when they made the purchase not every day. Whereas we are seeing the price rise every day.

This is where you're mistaken, fortunately.
Paypal is not buying anything directly, all the purchases and sales are directly passed to Paxos and they are settling the accounts.
Seriously do you think Paypal would have bought 1000 bitcoins at 10000 and they are selling those now to people at 30k? What if the opposite happened?

No, they are settling every order in real-time, and yeah, they are influencing the market, as I always say on this forum, like it or not, nothing you can do, and even worse is coming, I have a feeling all the exchanges we'll be done in a few years in virtualBTC just like gold, PPBTC is just the begging.

Why would privacy coins have an impact over the Bitcoin price?
The only impact of this decision I can think of is the fact that many traders will move their investments out of XMR,DASH and ZEC and buy more BTC.

Hihi, there, you've found the answer yourself!

[hv_]

EU AMLD5

US AMLA (act)

UK FCA


  http://fcpacompliancereport.com/2021/01/major-changes-aml-compliance-enforcement-part-1-introduction/

 https://www.nytimes.com/2021/01/01/arts/design/antiquities-market-regulation.html

got activated NOW

[TheBeardedBaby]

I thought that after the news that came about the FinCEN announcements regarding more and more crypto regulations and the actions taken by the exchanges to follow those regulation there will be a bit of negative influence over the price of bitcoin and FUD because nobody wants to have crypto regulated and under government's control.

[NelfiNovita]

More and more privacy is taken away from us.

XMR,DASH and ZEC already crashed with more than 15% after the news about delisting on bittrex.
What effect the delisting will have on the bitcoin price?

https://bittrex.zendesk.com/hc/en-us/articles/360054393492-Pending-Market-Removals-01-15-21

In my opinion, it will not affect the price of bitcoin because so far what can affect the price of bitcoin is bad news about bitcoin or a decrease in investor confidence in bitcoin.  I think there are still many altcoins that have a good effect on the price of bitcoin.

[rdbase]

More and more privacy is taken away from us.

XMR,DASH and ZEC already crashed with more than 15% after the news about delisting on bittrex.
What effect the delisting will have on the bitcoin price?

https://bittrex.zendesk.com/hc/en-us/articles/360054393492-Pending-Market-Removals-01-15-21

I think only if other exchanges will follow in the delisting of these coins would it affect them in anyway.
As we can see with ripple after their lawsuits with the SEC you can see the fallout from that with the value of the XRP token being cut in half during a bull run.

I remember many moons ago Dash was in talks with merging their coin with bcash. As you can see that didn't happen but when tokens start talking about merging with another token then it does not end very well.

[hv_]

More and more privacy is taken away from us.

XMR,DASH and ZEC already crashed with more than 15% after the news about delisting on bittrex.
What effect the delisting will have on the bitcoin price?

https://bittrex.zendesk.com/hc/en-us/articles/360054393492-Pending-Market-Removals-01-15-21

I think only if other exchanges will follow in the delisting of these coins would it affect them in anyway.
As we can see with ripple after their lawsuits with the SEC you can see the fallout from that with the value of the XRP token being cut in half during a bull run.

I remember many moons ago Dash was in talks with merging their coin with bcash. As you can see that didn't happen but when tokens start talking about merging with another token then it does not end very well.

adding or merging with dark features  - they might not care but delist

[stompix]

I thought that after the news that came about the FinCEN announcements regarding more and more crypto regulations and the actions taken by the exchanges to follow those regulation there will be a bit of negative influence over the price of bitcoin and FUD because nobody wants to have crypto regulated and under government's control.

There is no negative influence on the price because unlike others bitcoin was not targeted directly and from the looks of how things are going, it will escape most of the measures that both xmr and xrp are facing. As for the mandatory enforcement of KYC, like the 10k transfer rules are not actually hitting the new wave of investors if we want to call them that.
Institutional investors and funds already do that, most normal users that just came to the market don't throw around sums of money that big, and a lot of them are not even thinking of withdrawing coins, they bought coins on the exchanges like they buy shares they have no other plan than leaving them there and selling when they make a profit, technically they will never see a satoshi. As for the previous wave of bitcoiners, they already have a  high stake in the game and they already know how to avoid this, so no panic from them either.

So probably with all regulations that will take most of the privacy away and make it a near-impossible task to avoid taxes, this ain't going to stop the bull run.

[maye5104]

Maybe privacy coins delisting is among the number of facts why Bitcoin goes to the Moon, but I'm not sure about direct correlation.

[Sithara007]

Ideally privacy coins should not be traded in regulated exchanges. Coins such as Monero and Zcash were invented in order to provide the maximum level of anonymity for the users. When that is the case, the fact that the majority of their trade volume comes from regulated exchanges is quite surprising. Ideally, these coins should be traded in P2P or DEX sites, which offer more privacy protection.

[shoreno]

I think Bitcoin will be affected but it will gain favorable result as most of the Altcoins owners are now selling their Alts for Bitcoin so if these 3 altcoins market will slow down then most of its owner will sell and will find some investment in which Bitcoin will be the first choice for sure but in talking of Bitcoin price might falls too after delisting then I could say that the price of each crypto is totally independent and it has nothing to do with Bitcoin market.

but how can we be so sure that they are selling their alts for btc , what if they only sell their alts because of this exact reason which is the delisting of these alts on certain exchange and if they want btc they wont have a reason buying those altcoins at the start and theres more alts left that they can choose from after they sell or after this alt delisting event .

  but idk , their minds can also change and they can also consider bitcoin especially during these times when they saw how btc improve alot in terms of profitability .