Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: mamun777 on October 17, 2018, 02:29:31 PM
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Why is it that the moment BTC starts to sway, the other coins follow suit. It would be hard for everyone to sell that much at the same time. It seems beyond just panic selling. They seemed to be directly linked. Inf-fact, BTC going down should increase and encourage altoins as they raise in value compared to BTC as it falls so why this uniform sell off? Something seems weird about that to me. Any real theories, or explanations?
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BTC leads the way. Since the demand and supply ethics in economics are applicable in crypto currency, when BTC drags itself down, most of the altcoins are getting lower since its popularity is greater than the altcoins. Specifically saying, if the bitcoin's price is lowering down, the demand of bitcoin is getting higher when CH let's the other alta to go down by being imparted to what bitcoin demands is.
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Altcoin follows Bitcoin because of supply, demand and speculation. It should be understood that the inter coin has a relationship with one another not to mention the currency market. As a trader just follow & exit before the price reverses direction. Indeed if at a glance confusingly where prices suddenly rise or fall, but there is a chance to make a profit. Try searching again about what causes the down / up is anything. Then use that knowledge to trade (fundamentally).
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Obviously today another dumping for bitcoin price in the market place but I still believe nobody altcoins can race on the top for bitcoin value, in my own analyisis and opinion if the price of bitcoin fall dump the altcoins is also follow into the red signal in the coin market place, because one of the main reason altcoins follow the bitcoin value it because the investor's is depending the value of bitcoin before investing in the altcoins.
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Why is it that the moment BTC starts to sway, the other coins follow suit. It would be hard for everyone to sell that much at the same time. It seems beyond just panic selling. They seemed to be directly linked. Inf-fact, BTC going down should increase and encourage altoins as they raise in value compared to BTC as it falls so why this uniform sell off? Something seems weird about that to me. Any real theories, or explanations?
Bitcoin is still the leader in the cryptocurrency market and anything that affects Bitcoin also affects all altcoins. That goes for government regulations, exchange hacks, etc.
Notice that all exchanges have different coins that they support for trading and different trading pairs but they all have Bitcoin (at least all the exchanges I have seen) and they all have BTC as the main trading pair.
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maybe because btc is the king of coins so all altcoins are following btc and I think btc is very influential on crypto
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The foremost coin that got introduced was the bitcoins and the bitcoins really has a successful history on making advancement in the coins and the later on the coins which have been coming in the work is also due to bitcoins work process and if the bitcoins price seems to go down then whole the market comes into corrupt because one way or another every coin depends upon bitcoins and you will find fewer coins where the effect of bitcoin price is less affected over them but the altcoins are now under the eth so will say the same for that.
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BTC has been the prime since crypto came into existence. It has been the ultimatum amongst all coins. Its rise or fall will definitely affect other coins because it has been the oldest and most valuable coin in existence.
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That has been the question of many crypto enthusiasts and no one can really explain up until now. The closest answer I can give is that Bitcoin is King and all Alts are its followers.
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I think the reason: bitcoin is the first pair coin to exchange. The value of bitcoin becomes the highest one among the others. When other coins want to be exchanged to bitcoin, we can calculate the gap of the prices.
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In my personal opinion, it because of bitcoin has the highest standard of crypto price. It is like a gold in real life, it becomes the standard yet the value is the best among the others. Bitcoin is really the king of crypto if we view it in this case.
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There is . a strong positive correlation bewtween BITCOIN and ALL other altcoins so when BTC price falls in most of cases also the majority of altcoins price falls. I think that this is mainly caused by the fact that BTC has a strong dominance (over 50% or market) in crypto world.
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we know that btc is the most superior coin in cryptocurrency. no wonder the price of btc is the benchmark for altcoin prices. therefore, we must be able to analyze the market well to choose the right time to sell or buy crypto.
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That is because bitcoin hold the most important factor to turn the market into good or bad condition. It happens that bitcoin is the king of cryptocurrencies which should be followed as it is the king.
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Bitcoin is the first crypto to be created and I think all other altcoin may have to relay on bitcoin for there successfulness
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I think just like you, Bitcoin has a big influence on all coins because these coins have a large number of requests because the supply of Bitcoin is limited so altcoins are created and they will be connected to each other in the crypto market.