Joseph-P
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December 10, 2023, 06:47:00 AM |
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Of course Bitcoin affects the market as a whole, but I do not think that the effect is always so large. But yeah, Bitcoin is not just the father of cryptocurrencies but it’s actually always on top when it comes to dominance. If you think of it, you’ll see that every cryptocurrency will be affected if Bitcoin were to be affected by anything at all. Even a little FUD on Bitcoin can affect the market
It leads in almost any metric. BTC's dominance is absolutely outstanding and it do think that's one of the very best things to have happened to the crypto industry.
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batang_bitcoin
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December 11, 2023, 09:07:53 AM |
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Of course Bitcoin affects the market as a whole, but I do not think that the effect is always so large.
There are times that we see Bitcoin doesn't mostly affect the market but as a whole if that's what we're discussing, its affection for the entire market is large. You see that whenever a dip happens for Bitcoin, the majority of the altcoin dumps too. And that's a huge sign that Bitcoin certainly is affecting the market largely because if we're not going to notice that, we're missing the whole thing about bitcoin's supremacy that is obviously seen on this market.
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yazher
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December 11, 2023, 02:04:38 PM |
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Of course, this is the norm whenever the price of BTC is rising most of those altcoins are also multiplying their price depending on which altcoins we are talking about. This is actually a good opportunity for the risk takers especially those who want to invest in some new altcoins that have a high chance of increasing their price due to this event and you will gonna earn more money if you land on the right altcoins to invest and also you will have another source of income in this another great scenario in the crypto market. But this is for the risk-takers only because the chances are few compared to investing in bitcoins.
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cute nmp
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December 11, 2023, 02:54:49 PM |
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The whole crypto-market depends on Btc .When its prices rises then the whole market will be bullish and vice -versa it has so much effect on the market more than any other altcoins.
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Sayeds56
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December 11, 2023, 05:31:27 PM Last edit: December 11, 2023, 06:44:54 PM by Sayeds56 |
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Furthermore, due to its global reach and impact, fluctuations in the price of BTC can also have an influence on traditional financial markets. For example, when BTC experienced a sharp decline in 2018, it also caused stock markets around the world to drop.
So guys what are your thoughts about current situation.
Indeed, Bitcoin and alts markets are highly volatile, and In firmly believe that this volatility is the beauty and leading feature of cryptocurrencies landscape, as it is offering opportunities for investors to participate in crypto space for investors across various financial capacities to engage in the cryptocurrencies pace. Regrading, co-relation between Bitcoin and stock market it has been noted that stock market tends to influence the cryptocurrencies market, not the other way around.
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flipme
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December 11, 2023, 05:53:08 PM |
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Bitcoin alone has a direct impact on the cryptocurrency market. Anyone who spends a day in this market understands this. In fact, if you look at the dominance of Bitcoin and the marketcap of the alt coins, there is a correlation. But despite all this, I don't think bitcoin has the power to influence the classic exchanges. Bitcoin is not yet an asset that can do that, but one day it might.
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MFahad
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December 11, 2023, 05:58:04 PM |
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Furthermore, due to its global reach and impact, fluctuations in the price of BTC can also have an influence on traditional financial markets. For example, when BTC experienced a sharp decline in 2018, it also caused stock markets around the world to drop.
So guys what are your thoughts about current situation.
Indeed, Bitcoin and alts markets are highly volatile, and In firmly believe that this volatility is the beauty and leading feature of cryptocurrencies landscape, as it is offering opportunities for investors to participate in crypto space for investors across various financial capacities to engage in the cryptocurrencies pace. Regrading, correlation between Bitcoin and stock market it has been noted that stock market tends to influence the cryptocurrencies market, not the other way around. Absolutely right the volatility in Bitcoin and altcoin markets adds a unique attraction of investors to the crypto. This strength in cryptocurrency provides different investment opportunities suitable to many investors with varying financial capabilities. Regarding the relationship between Bitcoin and the stock market, your observation are quite broader. We have seen many times that whenever FOMC meeting start , the crypto market become volatile which indicates that stock market and other real world matter effect on btc but never hear that stock market affected with btc price change.
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tjtonmoy
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December 11, 2023, 06:12:24 PM |
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While BTC has nothing to do anything with any altcoin directly, its reputation alone creates a sentiment in people's minds that those other coins can one day do as good as Bitcoin. It's the sentiment that is attached to the market which makes people comfortable choosing those alts. So any movement that happens in the Bitcoin market will affect people's sentiment and that will lead to positive or negative movements in alts market.
Bitcoin is not affecting the market directly, rather people involved in alt market are. They are making decisions based on the Bitcoin market movement which is affecting the alt market. That's it.
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wheelz1200
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December 11, 2023, 10:36:21 PM |
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The rise in the price of BTC (Bitcoin) has certainly had an effect on the market. With its increasing value, there has been a surge of interest and investment in this digital currency. This has led to a ripple effect on other cryptocurrencies as well, driving up their prices as people seek alternatives to Bitcoin.
Furthermore, due to its global reach and impact, fluctuations in the price of BTC can also have an influence on traditional financial markets. For example, when BTC experienced a sharp decline in 2018, it also caused stock markets around the world to drop.
So guys what are your thoughts about current situation.
While yes bitcoin 100% controls the crypto market. If bitcoin is billing so is everything else and vice versa. But the stock market or gold or bonds etc are not predicated on crypto markets...yet. it might have been a coincidence but don't think that if bitcoin goes into a hyper bull so will the stock market. Don't over think it. Bitcoin runs crypto markets and that's it for now.
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uneng
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December 12, 2023, 02:21:36 AM |
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The whole crypto-market depends on Btc .When its prices rises then the whole market will be bullish and vice -versa it has so much effect on the market more than any other altcoins.
That is why investors should focus their crypto investments in BTC. It's the only cryptocurrency we have the assurance of being on the top position of crypto market. Altcoins can also perform nicely, but we never have the assurance of which of them are going to be the next highly valuable ones, as they don't occupy fixed spots on cryptocurrencies' ranking, rather they are constantly falling on long run and being replaced by new pairs. It reminds me of another discussion where it was asked if crypto market could survive without Bitcoin. The answer is "no", and this thread justifies the reason very well, as Bitcoin not only affects crypto market, but as you said, it drives crypto market upside and down. Bitcoin dictates the tendencies, altcoins follow its leadership. It has been always like this, and it will remain like this for a long time yet.
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Oasisman
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December 12, 2023, 03:32:16 AM |
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Bitcoin alone has a direct impact on the cryptocurrency market. Anyone who spends a day in this market understands this. In fact, if you look at the dominance of Bitcoin and the marketcap of the alt coins, there is a correlation. But despite all this, I don't think bitcoin has the power to influence the classic exchanges. Bitcoin is not yet an asset that can do that, but one day it might.
Definitely bitcoin price movements will always have an impact in the majority of the crypto market, because most of the thousands on alts in the market can be bought or trade primarily using bitcoin especially when direct fiat purchases is not available. So, that gonna be one of the obvious reasons as to why most alts in the market follows bitcoin's price action. The only thing that I did not understand is your last statement, bitcoin has no power to influence exchange? is it crypto exchange? cause if that's what you mean, well crypto exchange all have bitcoin as the primary trading pair. Correct me if I'm wrong or If I understand it correctly. TIA!
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lixer
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December 12, 2023, 01:56:21 PM |
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Bitcoin alone has a direct impact on the cryptocurrency market. Anyone who spends a day in this market understands this. In fact, if you look at the dominance of Bitcoin and the marketcap of the alt coins, there is a correlation. But despite all this, I don't think bitcoin has the power to influence the classic exchanges. Bitcoin is not yet an asset that can do that, but one day it might.
I agree with that. Bitcoin, being the first and the most influential cryptocurrency in the market, does have its impact on other cryptocurrencies or the overall market because Bitcoin was the only cryptocurrency that people knew before other cryptocurrencies even existed, and being completely decentralized and secure, people put a lot of trust in it with their money, however, as the market has become highly saturated now, investors also invest on a different range of altcoins which is the reason why when Bitcoin goes up, altcoins does the same. A cryptocurrency, or anything in general when it's traded, goes up and down in price based on the supply and demand formula. If more people are demanding to buy Bitcoins, the price tends to go up, and when there are more sellers in the market than buyers, the price starts dropping, and when people invest in Bitcoin and it starts going up, there are investors that invest in altcoins too, resulting them going up as well.
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Mate2237
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December 12, 2023, 02:46:10 PM |
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As a king it controls the younger ones who were just given birth. The altcoins are just need to the system and they have not known the left and right of the ecosystem so they have to follow the step of their father Bitcoin and their mother Ethereum. And direction Bitcoin follow they also follow, when the price of Bitcoin rise they follow and the price reduce they reduced too. Bitcoin has a great positive effect in the cryptocurrency market.
Those who are investing in altcoins also monitor the price of Bitcoin to see their coin improvement. Last week Ethereum price was $2340 and Bitcoin was $44+k now that Bitcoin has come down, the price of Ethereum is $2100 it has come down again and other coins are also down.
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December 12, 2023, 07:04:51 PM |
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It's undeniable that the rise in Bitcoin's price has far-reaching implications for the entire crypto landscape. The increased interest and investment in BTC often spill over to other cryptocurrencies, creating a domino effect that influences their prices.
This interconnectedness is not limited to the crypto realm; the global impact of Bitcoin's fluctuations extends to traditional financial markets as well. We've seen historical instances where a sharp decline in BTC triggered a ripple effect, causing stock markets worldwide to experience downturns.
The current situation underscores the interconnected nature of the financial landscape, where the movements of one digital asset can have widespread effects. It would be interesting to hear your thoughts on how this dynamic interplay between Bitcoin and the broader market might evolve in the coming months.
According to my opinion the interest among people for investment in crypto coin come into being due to successful past, present and future of bitcoin. The fact about the effect of bitcoin on whole crypto market is unavoidable. In 2021 when the price of bitcoin reduces so it puts adverse effects on other coins too therefore the overall market face a huge dump but that dump was a profitable phase for those who hold a keen interest for investment in different coins. Altcoins can quickly show pumps and dumps but this Fluctuations would not effect bitcoin activity because bitcoin is not dependent on any coin in whole market. The coming Bull run is also because of bitcoin halving so as bitcoin will increase so same happening will begin with remaining coins.
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_BlackStar
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December 12, 2023, 08:32:09 PM |
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As a king it controls the younger ones who were just given birth. The altcoins are just need to the system and they have not known the left and right of the ecosystem so they have to follow the step of their father Bitcoin and their mother Ethereum. And direction Bitcoin follow they also follow, when the price of Bitcoin rise they follow and the price reduce they reduced too. Bitcoin has a great positive effect in the cryptocurrency market.
Those who are investing in altcoins also monitor the price of Bitcoin to see their coin improvement. Last week Ethereum price was $2340 and Bitcoin was $44+k now that Bitcoin has come down, the price of Ethereum is $2100 it has come down again and other coins are also down. Bitcoin is a cryptocurrency that heavily influences the market - but doesn't control anything. Traders and investors consider bitcoin to be the best benchmark in the market so its price volatility can impact altcoin prices. Bitcoin's market capitalization is much larger than others - so this is also the reason why bitcoin is a benchmark for altcoin price volatility. I don't agree when you say bitcoin controls the market - that's never true. Crypto trading is done freely and is not controlled - but manipulation is possible. The average altcoin trader and investor uses bitcoin as a benchmark for analysis when they want to invest in altcoins - but that doesn't mean bitcoin controls the market.
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GeorgeJohn
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December 12, 2023, 08:51:48 PM |
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The rise in the price of BTC (Bitcoin) has certainly had an effect on the market. With its increasing value, there has been a surge of interest and investment in this digital currency. This has led to a ripple effect on other cryptocurrencies as well, driving up their prices as people seek alternatives to Bitcoin.
Furthermore, due to its global reach and impact, fluctuations in the price of BTC can also have an influence on traditional financial markets. For example, when BTC experienced a sharp decline in 2018, it also caused stock markets around the world to drop.
So guys what are your thoughts about current situation.
Actually you have said it all because bitcoin have a very big effect on bitcoin and I know quite well that without bitcoin increment other cryptocurrencies like altcoins will not have enough support in the market so that is while many people do like invest in bitcoin knowing that bitcoin mastermind the increment of sub coins for growth, so therefore I believe that bitcoin is the genesis of increment of any other coins
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asriloni
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December 13, 2023, 12:35:32 AM |
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The whole crypto-market depends on Btc .When its prices rises then the whole market will be bullish and vice -versa it has so much effect on the market more than any other altcoins.
So true. As you can see that how the dominance of bitcoin against altcoins have been representing how big the impact of bitcoin for altcoins. The pump has been occuring caused by the pump that happened with bitcoin. This is obviously crazy thing caused by altcoin totally depending on the bitcoin at this moment. Once bitcoin goes up then altcoin will not be following it instantly but once bitcoin doiing a small correction and it will be giving altcoins more space to increase its dominance against bitcoin. It's hard to tell that if altcoin can become independent from bitcoin caused by in fact, it will never happen. Altcoin will always become very important parts for the cryptocurrency ecosystem. Glad to see that if we are seeing more people aware that if bitcoin is obviously affecting the situation in the market. You can try to watch CMC periodically and when bitcoin dumped, almost all of altcoins were facing the same trend as bitcoin. It looks so crazy to see that happens but, this is how volatility works in the crypto.
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ShinyStarPrincess
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December 13, 2023, 01:27:19 AM |
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The rise in the price of BTC (Bitcoin) has certainly had an effect on the market. With its increasing value, there has been a surge of interest and investment in this digital currency. This has led to a ripple effect on other cryptocurrencies as well, driving up their prices as people seek alternatives to Bitcoin.
Furthermore, due to its global reach and impact, fluctuations in the price of BTC can also have an influence on traditional financial markets. For example, when BTC experienced a sharp decline in 2018, it also caused stock markets around the world to drop.
So guys what are your thoughts about current situation.
The best time for accumulation Bitcoin if you look for altcoins check gaming ones, Avalanche protects and BRC-20 Tokens for example $SATS was listed on Binance and the early adopters of Ordinals (I bought my first Sats and Ordi on Bitget) are getting great returns. The Next year this tokens will make great profits so we should look at them with keen eye
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danherbias07
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Leading Crypto Sports Betting & Casino Platform
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December 13, 2023, 12:13:31 PM |
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I don't use the market of Bitcoin to predict the stock market. It usually doesn't go the way we think about it. But if you do believe that it has some effects on that market then good for you. Regarding the alternative coins, yes it has a lot of effect when the Bitcoin value goes up or even down, let's not take that out because it does happen. I have no idea why because this is not the traditional movement back when no stablecoins are available. The usual was Bitcoin up, Altcoins down and it just keeps on repeating. But ever since stablecoins were created it changed the behavior of the market. But every project should not like this kind of behavior because it tells that they are only relying on the movement of Bitcoin and they are not a stand-alone market. An altcoin is supposed to be moving because of the demand for its own coin and not because something else went up.
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Hypnosis00
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December 13, 2023, 02:10:46 PM |
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Of course, this is the norm whenever the price of BTC is rising most of those altcoins are also multiplying their price depending on which altcoins we are talking about. This is actually a good opportunity for the risk takers especially those who want to invest in some new altcoins that have a high chance of increasing their price due to this event and you will gonna earn more money if you land on the right altcoins to invest and also you will have another source of income in this another great scenario in the crypto market. But this is for the risk-takers only because the chances are few compared to investing in bitcoins.
That is the real thing that happens and that is what we have witnessed because the market is relying on the price of Bitcoin. That is why investors are on the lookout for Bitcoin trends before buying altcoins as their basis for market analysis. When it pumps, the entire market rises but once the price of Bitcoin dumps, altcoins are badly affected more. I could say that Bitcoin has a manipulating power over the entire crypto market which is why, whatever happens to Bitcoin, the rest will follow.
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