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Author Topic: bitcoin affecting altcoins  (Read 278 times)
Mate2237
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November 16, 2023, 08:27:55 PM
 #21

Overtime i see that whenever there is a dip in the price of bitcoin, other altcoins tends to follow suit by also dropping in their prices and whenever there is an increase in the price of bitcoin, other coin as well increase in their value. Does it mean that other altcoins cannot be dependent on their own? Like must the activities of bitcoin affect the alternate coins at all time? I really want to understand why alternate coins like BNB, ETH, TWT, MATIC,  XRP,  LTC, DOT, ADA, SOL AVAX and so many other alternate cryptocurrencies are always affected whenever there is a change in the price of bitcoin like can't they be dependent on there own? as they are all cryptocurrencies despite the fact that bitcoin is more volatile than the rest of the cryptocurrencies.

Altcoins na follow follow. Dem dey follow bitcoin for any direction im go. Bitcoin na bi their father so im dey guide dem the road. Now dat bitcoin price going up, Ethereum is is going up to di $1900k nai make it u like to purchase m make you buy now so dat wen bitcoin reached di peak den at dat time Ethereum sef go go up.well well and you go make profit from am. Di way the ecosystem dey, na because bitcoin di altcoins dem come out so dem no go just do things on their own like that.

As for me even forum sef I never see am from altcoins even Ethereum wey I dey tok for here sef I never see im forum wey e dey like this one. And many persons no like altcoins because dey too dey disappoint person.









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Spaceman1000$
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November 16, 2023, 09:00:22 PM
 #22

Overtime i see that whenever there is a dip in the price of bitcoin, other altcoins tends to follow suit by also dropping in their prices and whenever there is an increase in the price of bitcoin, other coin as well increase in their value. Does it mean that other altcoins cannot be dependent on their own? Like must the activities of bitcoin affect the alternate coins at all time? I really want to understand why alternate coins like BNB, ETH, TWT, MATIC,  XRP,  LTC, DOT, ADA, SOL AVAX and so many other alternate cryptocurrencies are always affected whenever there is a change in the price of bitcoin like can't they be dependent on there own? as they are all cryptocurrencies despite the fact that bitcoin is more volatile than the rest of the cryptocurrencies.
Omo you no fit carry bitcoin compare those other coins oh, in terms, durability, trust in yielding profits, and him get publicity and global acceptance pass any coin. Bitcoin dey lead, others dey follow for back.
As I dey now self, I no sure say I don see plenty naija people way get altcoins for their wallet self, if them dey them no too plenty reach bitcoin holders.

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November 18, 2023, 10:16:41 AM
 #23

The main thing be say, Bitcoin nah the grand master of crypto currency, for me I take the whole coins for inside the crypto world as a family but when it comes to Bitcoin, I really believe say na em be the one of the most important of them all (oga kpata-kpata of them all) because nah Bitcoin nai be the most active crypto currency and still e dey more valuable than the rest of them.
So with those reasons, I no see anything wrong if Bitcoin price increase and the smaller them follow, as Bitcoin nah the oga kpata-kpata of them all, e still dey good make the other coins follow am for back if em dey increase or drop.
However, even if the other coins are imitating Bitcoin, I don't think from now untill tomorrow they will be able to skyrocket to a bit half of the range Bitcoin is for now.

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November 18, 2023, 11:41:34 AM
Last edit: November 18, 2023, 11:52:35 AM by Promocodeudo
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 #24

The truth is that, Bitcoin is well known more than altcoin, and I must tell you that, why many people are interested in the crypto industry is because of Bitcoin, these altcoin stands on the existence of Bitcoin, no matter what happens they can not appreciate just like that, people make alternative when the notice that the major one is also working very well, this will now push them to split their investment, other coin was created to compete with bitcoin but since they have been in existence none of them will ever near its price, that is to say, bitcoin is on its own without fear of any competitor.

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November 19, 2023, 10:45:13 AM
 #25

Omo you no fit carry bitcoin compare those other coins oh, in terms, durability, trust in yielding profits, and him get publicity and global acceptance pass any coin. Bitcoin dey lead, others dey follow for back.
As I dey now self, I no sure say I don see plenty naija people way get altcoins for their wallet self, if them dey them no too plenty reach bitcoin holders.

No you no fit compare Bitcoin users to altcoins oh, Nigerians self dey hardly hold Bitcoin na we for this forum na him know the true value of Bitcoin like dat, join this altcoins channels them and you go see say Nigerians plenty wey still dey chase after altcoins gains. Search on twitter too and you go see them plenty for this projects comment section which go mean say dem dey buy dem even though no be everybody wey we dey see there dey Invest. Nigerians also dey Bitcoin but I go say we dey altcoins pass. Projects like Nigerian ehh that's why you dey see say dem get Nigeria telegram channel like other countries too wey dey big in cryptocurrency. More nigerians dey after the profits and you no go say we dey after the technology that's why you go see us plenty for this altcoins especially shitcoins dem. Me I know people wey dey the industry and dem never buy Bitcoin before but you dey see shitcoins and altcoins in general, dem fit spend better money there they Invest and they lose (but gains dey come sometimes sha)

As for me even forum sef I never see am from altcoins even Ethereum wey I dey tok for here sef I never see im forum wey e dey like this one. And many persons no like altcoins because dey too dey disappoint person.

The sentiment on the forum is Bitcoin is the king (which isn't wrong) but if you check for people wallet dem get altcoins together with Bitcoin. Some dey Invest, other they trade dem but na only very few people wey never invest in altcoins for their life. Me I dun buy altcoins well before, I make and lose but the truth be say if I been put all that money inside Bitcoin, the gain for come out well pass altcoins. The reason people dey go for altcoins na say e dey give profits fast but just know say as the profits dey come na so e go go too but sha if you dey smart and fit sell before e crash na better profits you go make but since we can't be lucky always e just better to stay with Bitcoin and you won't regret it like most altcoins investors do.

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November 19, 2023, 11:54:03 AM
 #26

Overtime i see that whenever there is a dip in the price of bitcoin, other altcoins tends to follow suit by also dropping in their prices and whenever there is an increase in the price of bitcoin, other coin as well increase in their value. Does it mean that other altcoins cannot be dependent on their own? Like must the activities of bitcoin affect the alternate coins at all time? I really want to understand why alternate coins like BNB, ETH, TWT, MATIC,  XRP,  LTC, DOT, ADA, SOL AVAX and so many other alternate cryptocurrencies are always affected whenever there is a change in the price of bitcoin like can't they be dependent on there own? as they are all cryptocurrencies despite the fact that bitcoin is more volatile than the rest of the cryptocurrencies.
Bitcoin as the case maybe is the controller of the market and as such all cryptocurrencies follows the direction of Bitcoin.
And why is bitcoin the mover of the market because I think bitcoin is the genesis of them all, further investors tends to invest in bitcoin rather than altcoin.
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November 20, 2023, 07:12:52 PM
 #27



The reason people dey go for altcoins na say e dey give profits fast but just know say as the profits dey come na so e go go too but sha if you dey smart and fit sell before e crash na better profits you go make but since we can't be lucky always e just better to stay with Bitcoin and you won't regret it like most altcoins investors do.

That's just the rule for the crypto world  in most cases the sets wey dey provide larger profits fit give larger risk always put dat wan for your mind when you dey trade or invest for altcoins

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