Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: azmirihaque on June 01, 2021, 05:39:07 PM
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We see, the crypto market is always dominated by Bitcoin where other coins follow it. When BTC price was over 60k, altcoins price was at the pick. When BTC price decreased at 31k, all other coins went down at bottom and vise versa. Altcoins price is always dependent on Bitcoin price but Bitcoin price don’t follow others. Why altcoins are dependent variable to the crypto market? I think, altcoin market has largely developed in the last few years. Now it has many good coins. So to make the crypto market stronger, it should have some independent coins whose prices will not be affected by other’s price. It will follow itself.
What do you think?
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Altcoins are dependent on Bitcoin's movement because most of the alts are trading on BTC pair and when bitcoin pump-dump , alts are adjusting price according to the price of bitcoin on USDT. So alts won't be dependent on bitcoin or ethereum if those alts are only tradable on USDT or stablecoin pair. 8)
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We need altcoins, To be descentralized we need alternatives to BTC, but of course a lot of new shitcoins will die in a few months;years, only good altcoins will remain strong.
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The most significant thing i think is responsible for it is most of altcoins are traded in BTC pair. Also most of the people take btc as a deposit of money and they use btc for trading on any altcoins. Most of the people enter the market through purchasing btc first. So these things make btc a vey valuable asset to people in crypto and as its value drops the altcoins also drops.
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Yeah, Altcoins price will always depend on Bitcoin.
This is because Bitcoin is like the father of crypto, the king of crypto. So, many people put their trust at first on BTC. And we will always prefer BTC at first than altcoins whatever interesting and worthy altcoins are.
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As always, altcoins are always dependent on Bitcoin. Like what happened, the price of BTC is very dominant and the power of Bitcoin is very high so that it really gives huge dominance to altcoins. Although altcoin itself has a very interesting project, once BTC chased, they will also crahs
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Bitcoin is the benchmark of the crypto market and investors use Bitcoin as a benchmark...
I have never seen when the Bitcoin price goes down, the Altcoin price stays, however it will definitely follow. and this is what is happening in the market.
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i might go with that analogy to some extent, because not altcoin fall because i can still some project that move an inch, they only base on their normal trend, so to some extent i g with that.
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Bitcoin is Crypto King and the most famous crypto, almost every investor knows about Bitcoin and wants to invest in it when new to market. When BTC.D is more than 50%, BTC influence over entire crypto market is huge.
Currently, during the altcoin season, ALTBTC rate is increasing strongly so I still think ALTUSD rate will still grow in near term. But that doesn't mean they can escape influence of BTC price.
If you want an altcoin that is independent and unaffected by BTC, you can refer to stable coins like USDT, USDC, PAX…
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It's hard to see Bitcoin prices going down but altcoin prices going up, BTC/altcoin pairs on every exchange have a good impact if the crypto market is in a bullrun or bearish situation, because this is a crypto market and not a forex market. Bitcoin still has more than 49% market cap at the moment, it will have an effect on other crypto price movements allowing investors to take profits whenever they want
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The cryptocurrency market fluctuates a lot every time. The amount of total assets fluctuates a lot. Bitcoin is the highest currency in the cryptocurrency market. Much more popular currency around the world. Most altcoin prices depend on this currency. As the price of Bitcoin rises, so does the price of other coins. So the price of Bitcoin and other coins fluctuates. So I think Bitcoin is the regulator of the cryptocurrency market.
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We see, the crypto market is always dominated by Bitcoin where other coins follow it. When BTC price was over 60k, altcoins price was at the pick. When BTC price decreased at 31k, all other coins went down at bottom and vise versa. Altcoins price is always dependent on Bitcoin price but Bitcoin price don’t follow others. Why altcoins are dependent variable to the crypto market? I think, altcoin market has largely developed in the last few years. Now it has many good coins. So to make the crypto market stronger, it should have some independent coins whose prices will not be affected by other’s price. It will follow itself.
What do you think?
The reason why altcoins dependent on bitcoin price, because bitcoin is trend centre of crypto currency.
Bitcoin is the King of crypto currency.
So, altcoin will follow bitcoin price and bitcoin price will affect almost all of crypto currency.
That's nature of crypto currency.
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We see, the crypto market is always dominated by Bitcoin where other coins follow it. When BTC price was over 60k, altcoins price was at the pick. When BTC price decreased at 31k, all other coins went down at bottom and vise versa. Altcoins price is always dependent on Bitcoin price but Bitcoin price don’t follow others. Why altcoins are dependent variable to the crypto market? I think, altcoin market has largely developed in the last few years. Now it has many good coins. So to make the crypto market stronger, it should have some independent coins whose prices will not be affected by other’s price. It will follow itself.
What do you think?
Stablecoins are stable, aren't they? :D Small joke.
I myself am of the opinion that the blockchain technology, and not the altcoin market as you call it, is being developed more and more, is getting better and better. The technology that is being adopted more and more is not yet accepted everywhere. That was the case with the internet, and smartphones also took some time.
I always compare it to the dot-com era, the new economy, at the end of the 90s. Shares have soared, everyone wanted it. And then came the crash and only the strongest survived.
The excesses of the 1990s created the basis for a real new economy: the digital economy, which a decade later pervaded every corner of the world, every apartment and every company.
Internet technology owes its breathtaking progress to the madmen of the past, who took the impossible for granted.
This is how Amazon and Google emerged.
Bitcoin and Ethereum?
We are still in the digital era, and some blockchain companies will grow out of it and dominate the markets. Not only will there be Bitcoin, but it was the first and its value is defining the market at the moment.
If you look at ETH and co. , they are still in development, they are not yet ready to guarantee stable prices.
After ETH 2.0 comes the next stage of development, the other blockchain sectors will also follow suit. Do you think NFT was just a short hype? No way!
At the beginning of the new economy only a few people had internet access; at that time there was hardly any online banking. Just as we are now not using the advantages of blockchain everywhere. But it will come and the best in each sector will no longer depend on Bitcoin.
And I assume the digital payment system has the future, whether it will be the cryptos from governments or from an independent party, Bitcoin will gain in value because it is finite.
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Unfortunately or fortunately, this is how the cryptocurrency market works and there is nothing to be done about it, so when the price of bitcoin usually rises and the prices of altcoins begin to rise, and when the price of bitcoin falls and prices of altcoins begin to fall, but sometimes it happens that only bitcoin grows and altcoins do not grow, or they just stand still at one place and vice versa, so you shouldn't think about it, because it won't give us anything anyway.
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you need to compare same to fiat currency where so many currency are dependent on dollar. same can be said of the pounds and euros. in crypto we have one independent variable, which is BTC while in we the dollar in fiat. with time, we might have multiple independent tokens such as ETH and BNB. these two projects are strong. IF you check again, you will discover the BTC dominance is gradually dropping.
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Bitcoin price is independent but altcoins' price are dependent on Bitcoin price because most of the altcoins are traded with BTC pair. When Bitcoin price fluctuates, it makes fluctuation of altcoins' price but some altcoins which are traded only stablecoins pair, it won't depend on Bitcoin.
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Of the most Crypto coins I know, on average they are tied to each other in terms of price. And Bitcoin is the number one benchmark, and this we have known for a long time and also seems to be going on like this. Altcoins price movements always follow Bitcoin prices, although not all movements are the same.
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Altcoins price movements always follow Bitcoin prices, although not all movements are the same. Some altcoins which are traded only stablecoins pair, it won't depend on Bitcoin.And altcoin and bitcoin trade among themselves.
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Bitcoin price is independent but altcoins' price are dependent on Bitcoin price because most of the altcoins are traded with BTC pair. When Bitcoin price fluctuates, it makes fluctuation of altcoins' price but some altcoins which are traded only stablecoins pair, it won't depend on Bitcoin.
I think we all know, bitcoin is the King of crypto currency and will be the trend centre of alcoins.
So I think It is the Reason why altcoins depend on bitcoin.
If you talk about several altcoins pair in Bitcoin, that's true.
But, Although pair in stable coin, I think almost all of altcoins are going down while bitcoin go down.
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Altcoins are dependent on Bitcoin's movement because most of the alts are trading on BTC pair and when bitcoin pump-dump , alts are adjusting price according to the price of bitcoin on USDT. So alts won't be dependent on bitcoin or ethereum if those alts are only tradable on USDT or stablecoin pair. 8)
Altcoins do not depend on the price of bitcoin because they are paired with it. Bitcoin's price dominance is associated with its high level of capitalization. About half of investments in cryptocurrency are in bitcoin, and therefore its price movements are usually repeated by altcoins. I do not think that this situation in this market will continue for a very long time. Altcoins are developing rapidly and their usefulness is increasing. Because of this, the capitalization of bitcoin is gradually falling. The rigid price dominance of a single cryptocurrency is not well suited to a decentralized market and will change over time.
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As I always said previously, BTC is the king of crypto, becomes the first central for the crypto world. So, whenever and what happens to Bitcoin will always influence altcoins. So far, most altcoins will always depend on Bitcoin.
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there are some coins that don't follow BTC price movements like matic. so it all depends on how the development of a project. I'm pretty sure that in the next few years altcoins will be independent
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I think the most important thing that is responsible for this is that most of the altcoins are traded in the BTC pair. Also, most people take BTC as a deposit and they use BTC to trade on any altcoins. Most people enter the market by purchasing BTC first. So these things make BTC a valuable asset for people in crypto and as its value falls, so do the coins.
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I think it's not like that "variable" Although that we can't deny that if the Bitcoin price was decline most altcoins price also decline My simple observation about that it just because most altcoins are using Bitcoin as their based pair that's why it can drag down the price of the most altcoins if the Bitcoin was also experiencing the same. second is the Bitcoin market cap dominance for me that was a common reason.
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Hi Guys, what you think about this project Neptune Mutual. I read a lot about it but still wondering whether its a good decision to put $1000 into it or not.
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The world of cryptocurrency is of different stages, Bitcoin is one the most relevant and reliable crypto coin that is known all over the world, that is the reason behind dependant of other altcoin on BTC, because Bitcoin serve as the benchmark for all coins and the price of altcoins depend in the nature of the rise and fall of Bitcoin price.
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We see, the crypto market is always dominated by Bitcoin where other coins follow it. When BTC price was over 60k, altcoins price was at the pick. When BTC price decreased at 31k, all other coins went down at bottom and vise versa. Altcoins price is always dependent on Bitcoin price but Bitcoin price don’t follow others. Why altcoins are dependent variable to the crypto market? I think, altcoin market has largely developed in the last few years. Now it has many good coins. So to make the crypto market stronger, it should have some independent coins whose prices will not be affected by other’s price. It will follow itself.
What do you think?
Yes, this is a really big problem in the cryptocurrency market. Bitcoin was the first among cryptocurrencies for a long time and therefore it gained significant popularity. This allowed it to significantly outpace other emerging cryptocurrencies in value. This, in turn, led to its significant capitalization and the level of price dominance in the cryptocurrency market.
However, the market continues to develop rapidly and a lot of different promising projects and cryptocurrencies with more advanced technologies and functionality appear on it. Their growth will inevitably lead to the alignment of the main indicators of the cryptocurrency, including in terms of price. Only then will it be possible to freely form the prices of individual altcoins. This will happen, but a little later.
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It has to do with investor power. When the market is on a bull run, people tend to buy not just bitcoin, but altcoins. Same happens in a bearish season. But these days there is the so-called bitcoin-altcoin decoupling which means bitcoin is pumping while alts are stagnating or even dumping
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The fundamental reason behind altcoins following Bitcoin is because altcoin prices are typically measured in Bitcoin. The original crypto asset may be flanked by over 3,000 competitors, but it still commands over half of the entire cryptocurrency market cap. This domination of the crypto market affords Bitcoin a lot of influence and control.
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The fundamental reason behind altcoins following Bitcoin is because altcoin prices are typically measured in Bitcoin. The original crypto asset may be flanked by over 3,000 competitors, but it still commands over half of the entire cryptocurrency market cap. This domination of the crypto market affords Bitcoin a lot of influence and control.
Because altcoins always pairing to bitcoin, and bitcoin is the King of crypto currency.
Bitcoin is always be the trend.
So, It's the reason why altcoins are dependent variable.
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The fundamental reason behind altcoins following Bitcoin is because altcoin prices are typically measured in Bitcoin. The original crypto asset may be flanked by over 3,000 competitors, but it still commands over half of the entire cryptocurrency market cap. This domination of the crypto market affords Bitcoin a lot of influence and control.
Because altcoins always pairing to bitcoin, and bitcoin is the King of crypto currency.
Bitcoin is always be the trend.
So, It's the reason why altcoins are dependent variable.
I think altcoins always be dependent variable, because bitcoin is still be The King of crypto currency, as you said before.
So It will happen and continue until there is potential coin to replace bitcoin.
But that's someday, maybe altcoin will be independent.
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The hype is doing a lot for cryptocurrency, in particular for bitcoin. Its popularity has spread all over the world. Another important factor is trading in pairs, because bitcoin trades with altcoins, because of this they will always be in second place, and the market value and capitalization of bitcoin speaks for itself.
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The hype is doing a lot for cryptocurrency, in particular for bitcoin. Its popularity has spread all over the world. Another important factor is trading in pairs, because bitcoin trades with altcoins, because of this they will always be in second place, and the market value and capitalization of bitcoin speaks for itself.
I agree with your opinion about bitcoin is pairing almost all of altcoins.
I think It's the reason altcoins are depending on bitcoin price.
So, as Op asked, altcoins are variable dependent. That's true.
Bitcoin is most popular than other coins.
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We see, the crypto market is always dominated by Bitcoin where other coins follow it. When BTC price was over 60k, altcoins price was at the pick. When BTC price decreased at 31k, all other coins went down at bottom and vise versa. Altcoins price is always dependent on Bitcoin price but Bitcoin price don’t follow others. Why altcoins are dependent variable to the crypto market? I think, altcoin market has largely developed in the last few years. Now it has many good coins. So to make the crypto market stronger, it should have some independent coins whose prices will not be affected by other’s price. It will follow itself.
What do you think?
Yes, bitcoin will dominate as long as bitcoin is remaining be the King of crypto currency. Bitcoin is independent variable because bitcoin price will effect the altcoin.
So it's the reason why altcoins are dependent variable. It will happen continuously until there are potential altcoin that replace bitcoin at the coming future.
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We see, the crypto market is always dominated by Bitcoin where other coins follow it. When BTC price was over 60k, altcoins price was at the pick. When BTC price decreased at 31k, all other coins went down at bottom and vise versa. Altcoins price is always dependent on Bitcoin price but Bitcoin price don’t follow others. Why altcoins are dependent variable to the crypto market? I think, altcoin market has largely developed in the last few years. Now it has many good coins. So to make the crypto market stronger, it should have some independent coins whose prices will not be affected by other’s price. It will follow itself.
What do you think?
In my opinion, there two variables at market.
Independent and dependent.
Independent variable is bitcoin, because this coin is the King of crypto currency, not depend on other coins.
Altcoins are always depending on bitcoin performance as many member said here. That's true.
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Bitcoin is also a cryptocurrency that depends on investors who invest in it, only then other altcoins depend on bitcoin. It would probably be good if each cryptocurrency was on its own, then the price of some projects was very high.