Dr.Osh
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July 29, 2021, 02:07:14 AM |
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Bitcoin has effects that can be felt across the entire cryptocurrency market, however bitcoin doesn't have direct impact on all altcoins
This is because Bitcoin has the largest market cap of all cryptocurrencies and a bullish BTC run make people more open to investing in other altcoins. This however doesn't guarantee a bullish run for altcoins.
But if BTC is in a bearish season, then almost all altcoins also becomes bearish
yes, that is the right thing. indirectly, bitcoin does not affect the bull market for altcoins, because when the price of bitcoin rises as it is today, not all altcoins increase in price. it takes time for investors to choose which altcoin they will choose, thus causing the price of the altcoin to rise. however, when the price of bitcoin falls, it will affect the price of altcoins to fall because of panic.
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Sithara007
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July 29, 2021, 04:34:37 AM |
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it's because most alts have biggest liquidity on their pairs with BTC, meaning their dollar value is closely affected by btc's dollar value. That's why.
In certain countries, there is a restriction on fiat to cryptocurrency trade (and vice versa). Some of the users depend on stablecoins to avoid this complexity, but most of them restrict their trade to BTC and altcoins. Also, whenever someone converts his fiat to crypto (or crypto to fiat), it needs to be reported to the tax authorities (regulations and tax rules may vary from country to country). So a lot of people prefer to purchase altcoins with BTC. And finally, it is a big headache nowadays to deposit or withdraw fiat in the mainstream cryptocurrency exchanges (especially of you are living in a third world nation such as India).
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kenelmark
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July 29, 2021, 09:49:13 AM |
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After all, Bitcoin is still the benchmark for altcoins. When the price of Bitcoin goes up, the price of many altcoins mostly goes up as Bitcoin price fluctuations affect investors' confidence in the cryptocurrency market. Rising Bitcoin prices increase investor interest in investing in altcoins and vice versa
Yes, and that sort of thing has happened time and time again, because in the past that was the case so it's not surprising that last April when Bitcoin hit $60K in one unit, Ethereum was at $4K more in one unit.
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Rahman11
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July 29, 2021, 10:38:31 AM |
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Many altcoins are just Bitcoin clones Many other such clones exist such as Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond, and dozens more. While each one tries to become a better version of Bitcoin, most of the time, they just follow its lead. https://www.commpro.biz › why-do... all altcoins follow Bitcoin? Historical data suggests that during periods of extreme market turbulence, most altcoins tend to follow Bitcoin's price movements closely.
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CaptainCrapper
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July 29, 2021, 10:50:02 AM |
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I want to understand if all altcoins are built upon the foundation of BTC. This is because when there is severe crash of BTC, all other coins, I mean all, also crash.
Is there no independence in the cryptocurrency world?
Thank you!
Not depend on BTC but maximum alter coin which is trade on BTC pair then must effect it on price becuse when market manupulate then its must effect on hole market for that reason BTC when dump all alter must effect i think.
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$anounimus$
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July 29, 2021, 01:09:16 PM |
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Not depend on BTC but maximum alter coin which is trade on BTC pair then must effect it on price becuse when market manupulate then its must effect on hole market for that reason BTC when dump all alter must effect i think.
It could also be the case, but demand and supply are the main effects of the increase and decrease even though it is accompanied by the movement of BTC in the market simultaneously.
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Pandji02
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July 29, 2021, 01:26:46 PM |
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They are not relying on BTC directly. But when BTC falls a lot of people frustrates and sales all of their crypto. And you can't forget that for a lot of people BTC and crypto is the same thing in their mind.
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TWW
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July 29, 2021, 02:35:04 PM |
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They are not relying on BTC directly. But when BTC falls a lot of people frustrates and sales all of their crypto. And you can't forget that for a lot of people BTC and crypto is the same thing in their mind.
actually, not everyone will do that. some people with poor emotional control may do so. but for a trader who has been in the market for a long time I believe, they can make wise decisions. actually, the movement of altcoins is related to the dominance of bitcoin in the market. we know most of the trades in the crypto market are paired with BTC. and that makes it dominate the market very strongly. it is easy for BTC to influence the crypto market as a whole.
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wmaurik
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July 30, 2021, 06:47:09 PM |
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They are not relying on BTC directly. But when BTC falls a lot of people frustrates and sales all of their crypto. And you can't forget that for a lot of people BTC and crypto is the same thing in their mind.
That's true, and I personally also often sell my cryptocurrencies when I see BTC is falling in price, because any cryptocurrency will still experience price drops when BTC doesn't hold at a good price, this is a fact and not a joke because I have seen it very often in the market.
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DU18
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July 30, 2021, 08:00:42 PM |
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No not all, there are just so many investors who do panic selling when they see that bitcoin is going down thinking that altcoin will down as well when they see that bitcoin is in red tide. Dont be like them if you know that your token community is good and has potential do not sell, just hold it, it won't go down if you guys do not panic selling.
When the bitcoin price starts to touch its peak, many people want to take profit by selling their bitcoins and that is a natural thing in an investment but as a result the more people who sell bitcoins, the bitcoin price will fall even more and when the price moves down it causes fear on investors, so that more and more people are selling their bitcoins and when the price is falling, of course, many investors are securing their assets in the form of fiat money or stable coins (usdt), is this called a panic sell? I don't think we can say it's an easy thing because after all they all think to minimize losses when the bitcoin price really falls in my opinion.
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Noruka
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July 30, 2021, 11:51:30 PM |
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No not all, there are just so many investors who do panic selling when they see that bitcoin is going down thinking that altcoin will down as well when they see that bitcoin is in red tide. Dont be like them if you know that your token community is good and has potential do not sell, just hold it, it won't go down if you guys do not panic selling.
When the bitcoin price starts to touch its peak, many people want to take profit by selling their bitcoins and that is a natural thing in an investment but as a result the more people who sell bitcoins, the bitcoin price will fall even more and when the price moves down it causes fear on investors, so that more and more people are selling their bitcoins and when the price is falling, of course, many investors are securing their assets in the form of fiat money or stable coins (usdt), is this called a panic sell? I don't think we can say it's an easy thing because after all they all think to minimize losses when the bitcoin price really falls in my opinion. When Bitcoin peaks hard and goes into bubble territory, it actually means that the price of Bitcoin is increasing faster than the buying support is building, meaning that liquidity at the price peak becomes extremely thin. Then they have a huge balance in their books, but they can't realize those gains because buying support lacks behind and there is nobody to sell those Bitcoin to at the peak, at least not in masses. That's when a crash is likely and a panic can easily break out, causing other coins to fall as well.
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aylabadia05
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July 31, 2021, 03:06:13 AM |
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I want to understand if all altcoins are built upon the foundation of BTC. This is because when there is severe crash of BTC, all other coins, I mean all, also crash.
Is there no independence in the cryptocurrency world?
Thank you!
For me, the birth of Altcoins on the basis of the independence that Bitcoin provides in the cryptocurrency world. Independence will exist as long as he is able to compete in the crypto market even though there are assumptions like yours that all altcoins are built on the basis of Bitcoin.
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CryptoLogo
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July 31, 2021, 11:04:52 AM |
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actually of course not, not all altcoins depend on bitcoin, even many altcoins have their own blockchain technology, but in reality that is not the case, almost all altcoins will go down when the bitcoin price also drops, this happens of course because of a panic sell
First you say that not all altcoins are dependent on bitcoin, and then you say the opposite, how is it? If the price of bitcoin falls, this is the direction of the trend followed by all coins, and it does not matter which technology and how much each individual coin differs.
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Ekyfitri
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July 31, 2021, 11:18:38 AM |
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actually of course not, not all altcoins depend on bitcoin, even many altcoins have their own blockchain technology, but in reality that is not the case, almost all altcoins will go down when the bitcoin price also drops, this happens of course because of a panic sell
First you say that not all altcoins are dependent on bitcoin, and then you say the opposite, how is it? If the price of bitcoin falls, this is the direction of the trend followed by all coins, and it does not matter which technology and how much each individual coin differs. The linkage occurs because the dominance of bitcoin in the crypto market is too high. the trend that bitcoin creates in the market will definitely have an impact on altcoin assets. not all are typically like that. because at the bull pump sometimes there are assets that can't keep up with bitcoin and other altcoins due to problems in their own community. several aspects will affect the condition of bitcoin and altcoins.
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Serco
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July 31, 2021, 12:24:55 PM |
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actually of course not, not all altcoins depend on bitcoin, even many altcoins have their own blockchain technology, but in reality that is not the case, almost all altcoins will go down when the bitcoin price also drops, this happens of course because of a panic sell
First you say that not all altcoins are dependent on bitcoin, and then you say the opposite, how is it? If the price of bitcoin falls, this is the direction of the trend followed by all coins, and it does not matter which technology and how much each individual coin differs. bitcoin price will influence to market sentiment and psychology , usually it move with same direction except to altcoin that have strong fundamental and released new development update. in this condition investors will switch their bitcoin assets into altcoin. and also it rellated with bitcoin dominance rate, if its rate rise altcoin will drop and vice versa.
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hamba laeh
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August 09, 2021, 06:19:10 PM |
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I want to understand if all altcoins are built upon the foundation of BTC. This is because when there is severe crash of BTC, all other coins, I mean all, also crash.
Is there no independence in the cryptocurrency world?
Thank you!
not all altcoins follow the flow of bitcoin movements because altcoins have their own movements. but if anyone is following the movement of bitcoin then it is a normal market condition. and lots of altcoins that went up when bitcoin crashed. but this movement is not determined by bitcoin. please visit the exchange market and pay attention to some that do not follow the movement of bitcoin, surely you will find it.
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kenelmark
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August 09, 2021, 06:28:17 PM |
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not all altcoins follow the flow of bitcoin movements because altcoins have their own movements. but if anyone is following the movement of bitcoin then it is a normal market condition. and lots of altcoins that went up when bitcoin crashed. but this movement is not determined by bitcoin. please visit the exchange market and pay attention to some that do not follow the movement of bitcoin, surely you will find it.
Let's look at a typical example when the bullrun peaked this year in April, all Altcoins went up along with Bitcoin, and if any Altcoin at that time didn't go up, then it was trash that no one was interested in, I now visit a lot 35 popular exchanges at the time of trading and have never found an Altcoin that experienced an increase in price when Bitcoin fell, except for Stablecoins, and one more proof is that when the correction occurred last May, all Altcoins also experienced the same thing, did you not realize this? this ?
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vermigerous
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August 21, 2021, 09:36:59 AM |
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In my opinion, not at all that altcoins dependent on bitcoin. Because every altcoin has its own way on increasing or decreasing it's price. I think it's just that bitcoin has the center of crypto prices and thus it sometimes can pull several altcoins prices because of fluctuation. However some altcoin sometimes doesn't depend on bitcoin but has a least value or very low value.
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Xampeuu
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August 21, 2021, 10:23:41 AM |
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I want to understand if all altcoins are built upon the foundation of BTC. This is because when there is severe crash of BTC, all other coins, I mean all, also crash.
Is there no independence in the cryptocurrency world?
Thank you!
not all altcoins follow the flow of bitcoin movements because altcoins have their own movements. but if anyone is following the movement of bitcoin then it is a normal market condition. and lots of altcoins that went up when bitcoin crashed. but this movement is not determined by bitcoin. please visit the exchange market and pay attention to some that do not follow the movement of bitcoin, surely you will find it. indeed there is no relation between altcoins and bitcoin in market movements. but we can see for the most part as if one rhythm, where the movement of bitcoin becomes a reference for the movement of other altcoins. This conclusion is drawn only from the market's habit of moving, but believe it or not, that the movement of bitcoin I think is very influential
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Plinteng
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August 21, 2021, 10:53:41 AM |
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yes and The main reason why the altcoin market depends on the trending BTC charts is the liquidity on the main trading pairs, you can't sell one altcoin for another one, The middleman is the best valuation tool for finding the perfect price.
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