Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: PRIBO247 on November 15, 2018, 03:24:31 PM
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Yesterday was something else. For the first time in 3 months, BTC price plunged below $6k. Almost simultaneously, some altcoins also experienced price drop. Was this as a result of the plunge in BTC price?
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Yes, Altcoins are really following the bitcoin prices. Once the price going down expect that all of the altcoins will going to follow it.
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I think yes, when btc is down altcoin follow the price of btc but there are alts that not following the price of btc evwn if btc is down those alts are rising the price.
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Yes, the price if BTC affects the prices of altcoins ,the phase from which the crypto market is passing through the BTC is the leading digital currency and all the parameters directly of indirectly have the connection of BTC.
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Yesterday was something else. For the first time in 3 months, BTC price plunged below $6k. Almost simultaneously, some altcoins also experienced price drop. Was this as a result of the plunge in BTC price?
almost all coins will follow the BTC price, because Bitcoin is main exchange is most of exchange in the world, so Bitcoin called the king of all crypto, which can influence the other crypto's price
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Yesterday was something else. For the first time in 3 months, BTC price plunged below $6k. Almost simultaneously, some altcoins also experienced price drop. Was this as a result of the plunge in BTC price?
The cause of the BTC fall last night due to the BCH power struggle war, look at this: https://twitter.com/RamenofBinance/status/1062695905768263680/photo/1 (https://twitter.com/RamenofBinance/status/1062695905768263680/photo/1)
Jihan:
I have no intention to start a hash war with CSW, because if I do (by relocating hash power from btc mining to bch mining), btc price will dump below yearly support; it may even breach $5000. But since CSW is relentless, I am all in to fight till death!
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now most altcoins will follow the price of bitcoin because almost all of their exchanges provide a pair of BTC and this is commonly done, so the benchmark price for most altcoins will depend on bitcoin
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I think yes. Most of the time I seen that when bitcoin dump that time all the altcoin going down like bitcoin (accept some special coin). For example last two days ago bitcoin going down again and that time all the altcoin going down same percent. Why? I think bitcoin pair is the main fact for this situation. Though many other analysis have different statement.
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It is clear where the bitcoin price moves is very influential to Altcoin. So far like it is as good. Hopefully the bitcoin price goes up and can make the price of Altcoin followed as well.
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I believe it will certainly affect every altcoin because most of them are traded with Bitcoin.
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Definitely it should, because even those coins are sold to bitcoin even before it is exchanged to local currencies.
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because of several issues due to hardfork bch. BTC holders sell and buy bch. only part of it and the btc went on I thought temporarily. I'm sure next month, BTC will increase again.
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well definitely yes!
Btc is right now back on leading the market. Sometimes when BTC is stable altcoin prices can move on their on however a big jump of a btc totally takes the control back to btc
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in my opinion yes, the altcoin price depends on bitcoin.
because I think all coins depend on bitcoin.
and of course if the bitcoin goes down altcoin goes down
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because of several issues due to hardfork bch. BTC holders sell and buy bch. only part of it and the btc went on I thought temporarily. I'm sure next month, BTC will increase again.
Was there a huge pump in BCH price that could possibly support your claim? I just read others say that the BCH harfork is hardly the reason for the dump.
EDIT: I just read a tweet posted on the previous that supports this claim.
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Of course, the price of Bitcoin directly affects the price of the rest of the cryptocurrency. This is due to the fact that Bitcoin has a very high level of capitalization, more than half of all funds in cryptocurrency are invested in Bitcoin. This allows him to exercise price dominance over other types of cryptocurrency. Other cryptocurrencies repeat Bitcoin price movements.
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people talking about the hardfork bch? I don't believe that. why doesn't the bch experience a big increase? I think this is a market correction.
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I'm almost sure that most of altcoins follow Bitcoin. At least because when btc falls people lose their faith in crypto and stop investing, just withdraw their money.
In such situation it's hard to rise. I think the only thing that can leave is if crypto is mined until you're online. And if you're an investor you won't invest more money in something that is dying.
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I think the price of Bitcoin definitely affects Altcoins especially Ethereum and in extension Ethereum based tokens. When it pin takes one step back, Ethereum would take 5 steps back, I have noticed it severally.
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This is what I'm waiting for, you will get a lot of profits by buying Bitcoin and Altcoin at low prices and selling at high prices, I think this is a sign that bullrun will occur at the end of the year.
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Yesterday was something else. For the first time in 3 months, BTC price plunged below $6k. Almost simultaneously, some altcoins also experienced price drop. Was this as a result of the plunge in BTC price?
The cause of the BTC fall last night due to the BCH power struggle war, look at this: https://twitter.com/RamenofBinance/status/1062695905768263680/photo/1 (https://twitter.com/RamenofBinance/status/1062695905768263680/photo/1)
Jihan:
I have no intention to start a hash war with CSW, because if I do (by relocating hash power from btc mining to bch mining), btc price will dump below yearly support; it may even breach $5000. But since CSW is relentless, I am all in to fight till death!
This tweet seem to be a declaration if war between csw and jihan. Hope investors are not going to pay dearly for this.
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You are right. Since all altcoins depend on the price of bitcoin, so its fall will have a negative impact on all altcoins. I hope someday they will be independent from each other.
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yes, of course, the price of bitcoin is very influential on altcoin prices because bitcoin price movements become a reference for all existing cryptocurrency prices, when bitcoin rises then altcoin will also rise but when bitcoin falls then altcoin will also fall.
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Yesterday was something else. For the first time in 3 months, BTC price plunged below $6k. Almost simultaneously, some altcoins also experienced price drop. Was this as a result of the plunge in BTC price?
Yes because the market is dominate by Bitcoin and most of Altcoins are base traded with Bitcoin. other than Ethereum and US$ Dollars. so this will be a big factor why Altcoins is also suffer when Bitcoin price was declining!
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Yes it affects the price of altcoins when the bitcoin gets down. Other altcoins depend on the price of the bitcoin. The price of bitcoin is falling and just like altcoins.
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Definitely the price of BTC affect Altcoins and other coins because BTC us a first crypto currency and a very huge coin in the world so when the price of BTC will increase or decrease then it will be a affect on Altcoins and other coins.
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Yes the price of bitcoin affect altcoin, because they are trading pairs. And other coin rely on bitcoin, when is own price rise others will likely rise, because they depend on bitcoin.
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Surely that altcoin price dump because of bitcoin dump. Bitcoin always effect altcoins. Because bitcoin is the strongest coin which have biggest marketcap in that space. So bitcoin is rule the market. Btc decide the market situation is bull or bear. Because of that btc can effect all the prices negatively or positively.
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This is because the bitcoin has a huge dominance in the entire crypto market. In all altcoins, investments always accepts bitcoin, and at most, on a larger portion. A drop in bitcoin makes the entire market go red.
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Yesterday was something else. For the first time in 3 months, BTC price plunged below $6k. Almost simultaneously, some altcoins also experienced price drop. Was this as a result of the plunge in BTC price?
Yes because bitcoin was traded on all crypto-currency fairs thats why its highly possible to drag other altcoins if the Bitcoin price was down.
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This should be a news any more cause every move of btc will have effect on every altcoin when it dip or pump , so btc is very unique in cryptocurrency and blockchain technology .
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Yesterday was something else. For the first time in 3 months, BTC price plunged below $6k. Almost simultaneously, some altcoins also experienced price drop. Was this as a result of the plunge in BTC price?
I believe for now bitcoin can have big effect on altcoins survival. As btc is the founder of crypto and if people lose confidence/ interest in btc most probably they will also sell away their altcoin and cash out what they have in crypto.
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Quite right, it has always been and will be, because bitcoin dominates the cryptocurrency market and almost the entire market depends from it, this is the way the cryptocurrency market works and nothing can be done about it.
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Yes it does to an extents, because bitcoin is in control over the crypto market price, every other coin look forward to see when bitcoin we rise and you will see them increasing too. In summary bitcoin price affect altcoin price in a big way.
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The market is not stable, but altcoins can grow faster in price. Of course, this is not a long-term prospect. The only dependence on bitcoin is the rate of exchange after the ICO
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Yesterday was something else. For the first time in 3 months, BTC price plunged below $6k. Almost simultaneously, some altcoins also experienced price drop. Was this as a result of the plunge in BTC price?
The cause of the BTC fall last night due to the BCH power struggle war, look at this: https://twitter.com/RamenofBinance/status/1062695905768263680/photo/1 (https://twitter.com/RamenofBinance/status/1062695905768263680/photo/1)
Jihan:
I have no intention to start a hash war with CSW, because if I do (by relocating hash power from btc mining to bch mining), btc price will dump below yearly support; it may even breach $5000. But since CSW is relentless, I am all in to fight till death!
This tweet seem to be a declaration if war between csw and jihan. Hope investors are not going to pay dearly for this.
I agree that the drop appears to be the classic "fork fear", especially when it happens in a bear market, with low volume and volatility. We've all witnessed the likes of Ripple and Ethereum, 2nd and 3rd largest altcoins, move the overall market (including BTC) up or down based on news or events, so it's no surprise that the fourth largest altcoin has left ripple effects across the crypto space.