Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: alltalk on May 16, 2019, 09:24:08 AM
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After several days Bitcoin increased significantly, finally today altcoins can follow the same trends as Bitcoin. I can understand why the impact of the rise on Bitcoin price doesn't influence suddenly since it needs time to be absorbed by the market. However, the influence of Bitcoin price on altcoin prices is proven now. So, what is your opinion about this, guys? Do you agree that Bitcoin price has a close connection with altcoin prices?
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I thought that bitcoins' price effect on almost all altcoins has been proven and clear for months, if not years, now. There has been many discussion about that already. Bitcoin can carry alts up and drag them down. Alts, in most cases, follow bitcoin's price.
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This time it’s somehow difficult to understand whether altcoins depends from bitcoin or not, because when bitcoin grew rapidly, in same time altcoins was growing very slowly, but as soon as bitcoin growth ended, altcoins began to grow normally.
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This is a normal reaction by traders when bitcoin makes a big move. Whether it goes up or down, most traders would drop their alts. When BTC "rests" at a certain level after a big upward movement, traders would go back to alts causing a pump.
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I agree that they have a close connection. Bitcoin can influence the prices of altcoins, we all already know about it. I think altcoins will be hard to increase if Bitcoin price is low. So, it shows us that they have a connection, and altcoins depend on Bitcoin price.
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It has been proven that both of them have a close connection. But is it a good trend or not, that is the main eternal question
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I think it is a fact that both Bitcoin and altcoins has close connection even since inceptions of cryptocurrency. For example, the demand for Bitcoin affect altcoins in some situations like the "pairing" in almost all the exchanges. Bitcoin is used for trading pair in almost all the exchanges today and that is one of the reasons they are closely connected.
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Altcoin is quite a surprise in 3 days, after seeing the increase in Bitcoin and now the altcoin price rises because new investors need altcoins for the products they buy, besides wanting to get profit when investing Bitcoin, investors want to get profit by buying altcoins and hoping for prices will rise quickly.
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in my opinion the relationship between bitcoin and altcoin prices is very tight because bitcoin is the first coin to be born and the crypto world is created because the bitcoin and bitcoin are benchmarks for altcoins that emerge later, so rising bitcoin prices will be followed by altcoin as well as bitcoin prices down, the altcoin prices will also go down.
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I myself also understand the effect of altcoin prices also depends on the price of bitcoin, because bitcoin is also the top coin and also many who use it to get their profits in the future.
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In a way, there is a connection between the price of bitcoin and altcoins, when bitcoin rise in price and stabilize, we expect altcoins to also rise in price.
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Just Bitcoin and Etheruem that are still close have the same value image in the same direction as running side by side.
I can't say for all altcoins because it's like Bitcoin Cash ABC also when Bitcoin gives price increases but ABC actually drops prices.
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Bitcoins price connects almost all the altcoins for being it's pair in the market and most common of course, more and more people firstly move to bitcoin by selling their altcoins to accumulate more of the king coin btc, then afterwards we'll see them getting back on it pushing upward all their favorite coin
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Agree on you, there is a connection between these two, because we all know that Bitcoin is somehow to be father and king of cryptocurrencies, and because of this many people believed that if bitcoin fails, others too, So bitcoin is really related to this in terms, of movement in prices.
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I agree most altcoins have connections to Bitcoin price. But not all altcoins, stable coins like Tether, USD Coin, or True USD seem not really depend on Bitcoin price. They depend on the price of US dollars. So, they are a bit different than other altcoins.
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Bitcoin always affect the value of altcoin because bitcoin is the creator of crypto world. When the value of bitcoin increase always altcoin affected same in the decreasing conditions.
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After several days Bitcoin increased significantly, finally today altcoins can follow the same trends as Bitcoin. I can understand why the impact of the rise on Bitcoin price doesn't influence suddenly since it needs time to be absorbed by the market. However, the influence of Bitcoin price on altcoin prices is proven now. So, what is your opinion about this, guys? Do you agree that Bitcoin price has a close connection with altcoin prices?
Not really most altcoins are in red today and I believe this is the early correction since most of the Altcoins are up in just a very short span of time for me its not normal. just like pump and dump or artificial pump.
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I think the altcoin will be difficult to improve if the price of Bitcoin is low. So, this shows us that they have a connection, and altcoin depends on the price of Bitcoin.
I agree that they have a close connection. Bitcoin can affect the altcoin price, we all know about it.
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I think the altcoin will be difficult to improve if the price of Bitcoin is low.
Yes, it is the fact and unavoidable. When Bitcoin price is low, then the prices of altcoins will tend to be cheap. It is simply a sign of the connection between them. But in some cases, the connection maybe not really big, but it is still there.
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~snip~ There has been many discussion about that already. Bitcoin can carry alts up and drag them down. Alts, in most cases, follow bitcoin's price.
I realize it very well. I have read many responses of people from various discussions. Almost all people agree that Bitcoin is the key of the up and down prices on altcoins. Only case of stable coins, example : USDT, that is unlikely to follow the changes on Bitcoin price.
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I believe now if the price of bitcoin affects the altcoin, it is indeed not a fast process but the altcoin price has started to rise unlike yesterday
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besides wanting to make a profit when investing in Bitcoin, investors want to make a profit by buying altcoins and hope prices will rise quickly. Coin is quite surprising in 3 days, after seeing an increase in Bitcoin and now the altcoin prices rise because new investors need altcoins for the products they buy,
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Bitcoin price always affects altcoins price either negatively or positively. Altcoins price has always been directly proportional to the price of Bitcoin. The only reason why the market has been down is because bitcoin price alone fell which made all other coins price to fall.
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After several days Bitcoin increased significantly, finally today altcoins can follow the same trends as Bitcoin. I can understand why the impact of the rise on Bitcoin price doesn't influence suddenly since it needs time to be absorbed by the market. However, the influence of Bitcoin price on altcoin prices is proven now. So, what is your opinion about this, guys? Do you agree that Bitcoin price has a close connection with altcoin prices?
Not really. Bitcoin movement is not related to alts, its so superior ti rely on altcoins. But I think altcoins sometime relies on the btc movement and this is not shocking since most altcoins are paired with btc on exchange and technically it will really affects its price right. In my opinion, altcoin should be working well without btc to see its full potential. Maybe fair with stable coins so we can noticed hos their performance is.
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After several days Bitcoin increased significantly, finally today altcoins can follow the same trends as Bitcoin. I can understand why the impact of the rise on Bitcoin price doesn't influence suddenly since it needs time to be absorbed by the market. However, the influence of Bitcoin price on altcoin prices is proven now. So, what is your opinion about this, guys? Do you agree that Bitcoin price has a close connection with altcoin prices?
Of course, it is the high level of Bitcoin capitalization that is the reason. that it exerts price dominance on other types of cryptocurrency. This is quite normal and obvious. Of course, someday this will change and this situation may be even more interesting.
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After several days Bitcoin increased significantly, finally today altcoins can follow the same trends as Bitcoin. I can understand why the impact of the rise on Bitcoin price doesn't influence suddenly since it needs time to be absorbed by the market. However, the influence of Bitcoin price on altcoin prices is proven now. So, what is your opinion about this, guys? Do you agree that Bitcoin price has a close connection with altcoin prices?
In my own humble opinion bitcoin price can affect the altcoins price because of the Bitcoin market cap dominance, and if the volume decreased it means the altcoin marketcap was decreased too and because all altcoins was traded in Bitcoin thats why it was affected when the sudden bitcoin price drop.
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After several days Bitcoin increased significantly, finally today altcoins can follow the same trends as Bitcoin. I can understand why the impact of the rise on Bitcoin price doesn't influence suddenly since it needs time to be absorbed by the market. However, the influence of Bitcoin price on altcoin prices is proven now. So, what is your opinion about this, guys? Do you agree that Bitcoin price has a close connection with altcoin prices?
This situation is basically on the demand and supply rules playing out on a daily basis and bitcoin, being the number one crypto, has several altcoins to paired with on various exchanges sites. I think the bitcoin has control of daily prices on the market and it is a fact that
has been in existence since the inception of digital currency. Thank you
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As far as i am concerned, we have only one bitcoin. the rest are altcoins. all of offers the same value. they are means of payment. on platforms or on an exchange. therefore we don;t have much different on them . altcoins are independent of bitcoin price and so the other way round.