All coins crashing - are they too linked to BTC

artmaker

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Quote from: TravelMug on June 17, 2017, 01:07:42 PM

Quote from: inimitable777 on June 15, 2017, 12:50:10 PM

Sooner or later BTC will drop till 1200-1500$ and after some time will jump to 3000-3500

No I doubt the price should drop to as low as you have predicted. The crashed is over, people are buying bitcoin and other alt coins now. Maybe they have realized that it is better to buy now and hold on it as store of value. The price is moving to 2700$ and the rebound was very quick. Casual investors took advantage of the price crash and did buy back and accumulate bitcoin again.

i'm agree with you, i just check the chart and according to it, my prediction for bitcoin only drop around $2800 to $2700. than probably it will be back and try to break all time high again

wpalczynski

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As long as Bitcoins are the main bridge between "official coins" and altcoins, it will definitely have an impact on altcoins.

yunuzov

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After all this time we have all red again today and this topic is back to life. Coins are ofcourse too linked to BTC you can't think them separately while trading is done by using each other.

BigTeeths

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We all know that altcoins still rely on btc. We only get profit when we exchange it to btc so yes they are also affected.

Herbert2020

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it is funny to see this 3-months-old-topic bumped now! because you can see absolutely NOTHING has changed about the market nor the users. you can see all the same arguments and you can see how full of shit some users are when they are calling the so called "bottom" of bitcoin price here!

the funnier part is all the accounts that has been created to just answer questions like this and then disappeared from the forum, probably back to their main accounts.

TonyMark

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In spite of the fact that, it's clearly huge news with such drop particularly out of sudden, truly this is not a crash according to individuals' say. I think that it's exceptionally NORMAL. Truth be told, in the event that I had a possibility of a venture, I won't sit tight for a moment to go into Ethereum, I feel it's a GOLDEN open door in each term at this moment.

TravelMug

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Quote from: inimitable777 on June 15, 2017, 12:50:10 PM

Sooner or later BTC will drop till 1200-1500$ and after some time will jump to 3000-3500

No I doubt the price should drop to as low as you have predicted. The crashed is over, people are buying bitcoin and other alt coins now. Maybe they have realized that it is better to buy now and hold on it as store of value. The price is moving to 2700$ and the rebound was very quick. Casual investors took advantage of the price crash and did buy back and accumulate bitcoin again.

inimitable777

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Sooner or later BTC will drop till 1200-1500$ and after some time will jump to 3000-3500

TravelMug

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If my memory serves me right, Around this month, last year, bitcoin is also down. I also don't know if their is a correlation between altcoin and bitcoin being down currently. I only seen a few FUD going on, so I don't think that it has impact to the price. Or maybe the fire in London might have affected somewhat the faith of investors and don't like what they are seeing so they are cashing it out.

oddwh

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This is when BTC crashes than we realise that BTC is still the most important coin. BTC influences almost every coin, ETH still doesn't even if ETH is going to take the first place.

In the future that could change but currently, nothing has changed

I remember this : 1 BTC = 1 BTC Grin

That was what people said in 2013~2014 when the big correction was happening

azotas

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look at this http://5secondsapp.com/5/sec.ond?s=51e9278d835c5055ccec1cf7c4eef08b.gif

BitcoinsGreat

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Quote from: Qunenin on June 15, 2017, 12:04:38 PM

It is not a direct link between the other coins and Bitcoin. For the most part, most traders that show up for X coin on the exchanges, they go through BTC on the exchange first, not sure why, or they use BTC as the storage wallet for trading other coins. That means that when they see the price falling they bail on the exchange and the trades for other coins go down.

Most exchanges do not make this necessary, you can go from FIAT to whatever coin, but most trust keeping the funds in BTC wallet on the exchange overnight or between trades.

Qunenin

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It is not a direct link between the other coins and Bitcoin. For the most part, most traders that show up for X coin on the exchanges, they go through BTC on the exchange first, not sure why, or they use BTC as the storage wallet for trading other coins. That means that when they see the price falling they bail on the exchange and the trades for other coins go down.

Inmydomain

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Quote from: ChinkyEyes on June 15, 2017, 11:13:23 AM

Damn I almost feel sorry for all the newbies who are panic selling now.

Agreed, selling imo is not wise. I am questioning whether to buy ETH or BTC though given how they track together to an extent

ChinkyEyes

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Damn I almost feel sorry for all the newbies who are panic selling now.

JeffBrad12

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Quote from: Inmydomain on June 15, 2017, 09:20:48 AM

With all cryptocoins taking a nosedive over the past few days, is this showing that where bitcoin goes others inevitably follow?

Will ethereum break free of bitcoin in the near future?

The chance of ethereum to take the bitcoin's a place will always be there. But you must try to calculate if the price of every altcoin still pegged with the price of bitcoin itself. If the price of bitcoin gets dumped and the dollar value will get tanked at the same time and it gives the more affect to another coin that makes the price of altcoin goes down. Remember the rule of bitcoin.

nydiacaskey01

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Quote from: ethereumhunter on June 15, 2017, 10:40:02 AM

i think its not all coins crashing because in market especially in polo, there is still coins that is in green mode and the movement is really good although its not a big volume. for the ethereum, there are no people that will know this is the right time for ethereum or not, because we can not predicting what will happen with the market and we only know when there are any good movements for ethereum. but if this is the right time for ethereum, i think there will be many people that happy to see this because they are holding much of ethereum and they will glad to see the price is increase more.

Yes there are still a few who are still in green land but only on a single digit, yesterday there are still few who are in green zone and in double digit like ZEC and ETH, but today, only a few is left in green zone. For some reason when BTC is down Altcoins also goes down. I'm positive that this will pick up again next week.

olushakes

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Quote from: Inmydomain on June 15, 2017, 09:20:48 AM

With all cryptocoins taking a nosedive over the past few days, is this showing that where bitcoin goes others inevitably follow?

Will ethereum break free of bitcoin in the near future?

No matter how anyone try to undermine the dominance of bitcoin by proclaiming another coin supremacy over it, it does not still removes the fact that whatever happens to bitcoin affects all others and thats exactly what we are seeing now. When the price of alt was increasing along side with bitcoin there lots of threads claiming that they will overtake btc in no distant time and I expect to see them increasing when bitcoin falls in price but disappointed and hopefully to see that happen then I will believe.

ethereumhunter

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i think its not all coins crashing because in market especially in polo, there is still coins that is in green mode and the movement is really good although its not a big volume. for the ethereum, there are no people that will know this is the right time for ethereum or not, because we can not predicting what will happen with the market and we only know when there are any good movements for ethereum. but if this is the right time for ethereum, i think there will be many people that happy to see this because they are holding much of ethereum and they will glad to see the price is increase more.

sammart57

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There definitely needs to be a disconnect for alts from bitcoin. It goes down and it drags everything else with it, because everything is linked to it. All transactions in or out of usd usually happen in BTC (though that's starting to change with ETH)

if you could trade usd for whatever alt from these stupid exchanges and bypass btc entirely, it wouldn't be half bad

Topic: All coins crashing - are they too linked to BTC (Read 1601 times)