Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Goku01 on October 07, 2018, 07:27:01 PM
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A question arises when we think of the possibilities that the leading cryptocurrency bitcoin is related to other altcoins such as ETH, doge, litecoins and etc. Bitcoin price directly influence the other altcoins. but their relationship is not that predictable. One interesting thing to find out is whether ALTCOINS with the same state has a value relationship. It is when we analyze if there is a direct and indirect proportion between two altcoins that we compare especially, their market value. ICO's goal is to create a new Altcoin. This concept might affect the relationship of their value since, investors are fixed with their desired ICO, there would be a low investment to the coin offering because of the increasing number of ICO and altcoin. Investors are divided meaning to say that not all of the ICO would have the opportunity to succeed.
What might be the factor that affects the value of an altcoin?
What makes an altcoin value increase? as well as decreases?
How could we determine the relationship between altcoins? as well as their relationship to bitcoin?
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Altcoin and bitcoin are crypto coins that have relationships with each other. Altcoin is a coin that was created to perfect the technology that bitcoin doesn't have. That's why I really like both, because each has its own advantages.
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Recently, altcoins are very dependent on bitcoin. And this will continue until the Altcoins gain more capitalization and when people finally realize that cryptocurrency is the future.
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At first I thought there was an inverse relationship between the two, then as time went along I realized there was no 100% real relationship between the two it was arbitrary. All I know is in my almost year of crypto I have witnessed a multitude of outcomes at the markets and all of it points to random.
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the relationship between bitcoin and altcoin is now very tight, altcoin will decrease or increase in price when bitcoin fluctuates. so the increase or decrease of bitcoin will affect altcoin because buying and selling altcoin will be affected where a lot of users sell or buy altcoin by using bitcoin.
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There is obviously a definite relation between bitcoin and altcoins, but the exact relation itself is tough to describe due to the extreme volatility of this crypto market. According to me and many others, bitcoin has, is and shall always be the king of the crypto world and the altcoins will always depend on bitcoin in some way or another. For example, most altcoins cannot be purchased directly and we need to purchase bitcoin first before trading them for the respective altcoins that we wish to purchase. Bitcoin and altcoin values are directly proportional to each other some times and inversely proportional to each other sometimes.
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the truth is that between bitcoin and altcoin in the same sense there is no difference, namely as a digital currency. what needs to be noted here is the currency (currencY), so as a digital currency (cyberspace) bitcoin has certain values that make it possible to be used as payment instruments (but to be legitimate not many countries have acknowledged due to decentralized systems and blockchain technology maybe the difference is if bitcoin is the first digital currency and the altcoin is used as an alternative coin besides bitcoin as a digital currency.
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Bitcoin was the first crypto coin created by Satoshi. Bitcoin was the beginning history before altcoins appeared and developed in many sectors in our life. The relationship is very strong since altcoins prices influenced by bitcoin. Factors that may trigger to go up and down the prices is the demand and current issues. So far, these factors that people commonly know to influence the values.
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Altcoins will always depend on Bitcoin due to the pair binding to it, so the price of coins will always depend not only on the project, but also on the price of Bitcoin!
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We can say btc is the king of crypto space. So we can understand markets situation ( bull or bear ) from btc price chart. So because of that altcoins will move together with btc. Because btc is determining the general market condition. If you are saying why alts increasing sometimes with btc but sometimes not increasing with btc. Because sometimes we can see manipulations in market. I believe whales sometimes try to pump altcoins because they want to earn btc. and after that they dump that btc like that.
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It cannot be denied that this altcoin value depends on Bitcoin. When prices go down, all altcoins will follow. Whereas when bitcoin rises, the altcoin will be stable. And when bitcoin is at its peak, the altcoin will be pumped strong.
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Bitcoin is the first to be created while the other follows it. I think all other altcoins depends on bitcoin