Altcoins are not independent! - page 3.

arpon11

sr. member

Activity: 882

Merit: 282

Quote from: Aleksey1958 on July 13, 2018, 05:32:30 AM

How many studying this forum, I see a lot of topics, such as:
"Ethereum is dead?"
"Achieving Etherium$ 15,000 or more this year?"
"The price of Litecoin will reach 400?"
"Why is EOS falling?"And many similar questions.. I want to give an explanation of what is happening... Everyone should understand that individually neither Etherium nor Litecoin, virtually no cryptocurrency will not go against the General mood of the market! That is, where the most important cryptocurrency Bitcoin is sent, all Altcoins follow it. And if now the price of Etherium is 430$, although at the peak reached 1440$, then this does not mean that the Etherium died, and this is primarily due to the fact that Bitcoin at the moment is not worth 20000$, as then, but 6000$. And only Bitcoin begins to come to life, once the entire market is green. I understand that for many this is not news, but I hope this information will be useful to someone...

It is truth and all cryptocurrencies and altcoins are depending on btc. That is why when bitcoin is increasing in price it drag all other one along and when it is getting dump all other coins also get dump. It means when you want to invest in altcoins you have to Look at the bitcoin reactions to events in the market.

sofmyhad

jr. member

Activity: 238

Merit: 1

And it wasn't a secret. Every element on the cryptomarket is connected with others and this relation supports cryptocurrencies' development on the market.

buwad suka sili

newbie

Activity: 26

Merit: 0

Quote from: Aleksey1958 on July 13, 2018, 05:32:30 AM

How many studying this forum, I see a lot of topics, such as:
"Ethereum is dead?"
"Achieving Etherium$ 15,000 or more this year?"
"The price of Litecoin will reach 400?"
"Why is EOS falling?"And many similar questions.. I want to give an explanation of what is happening... Everyone should understand that individually neither Etherium nor Litecoin, virtually no cryptocurrency will not go against the General mood of the market! That is, where the most important cryptocurrency Bitcoin is sent, all Altcoins follow it. And if now the price of Etherium is 430$, although at the peak reached 1440$, then this does not mean that the Etherium died, and this is primarily due to the fact that Bitcoin at the moment is not worth 20000$, as then, but 6000$. And only Bitcoin begins to come to life, once the entire market is green. I understand that for many this is not news, but I hope this information will be useful to someone...

But what happen recently that bitcoin price is seems to a bull run and the price of all altcoin is still a negative results so I will conclude that these are an independent Coin.

novy

full member

Activity: 728

Merit: 110

There are couple of simple rules on this market. If no new money are coming, something will surge like we see now, alts are going to hell. When BTC stops, price is keeping on the same level and people start to take some profits from BTC and buy alts. When BTC get dump, people sell alts as well.

DarkBullet

member

Activity: 336

Merit: 55

I am seeing lots of similar questions being raised in altcoin section and I might say that most of these people don't even bother do their own research before raising a question or they are just started their journey in cryptocurrency. They should call is a correction and not a crash or that altcoin they are referring to is dead. The price of an altcoin depends on technical and fundamental results.

max6575

full member

Activity: 1176

Merit: 100

Vave.com

as uses with returns of tasks of moderation following movement of drawing with chart on market, trader to defines of decision as disputing selection of option to begins or keeping of position and returns with spares on challenge as the relative of shifts with different on exchange as the business on crypto finance with the bitcoin trading.

Balorck

newbie

Activity: 105

Merit: 0

I'm more interested in another question . from what bitcoin is repelled why there was such a rise and now such a rapid decline

HerbertMarcel

member

Activity: 221

Merit: 10

Yes your this information will help the newbies as they dont know about this stuffs and I agree with your fact that altcoins are not independent. They always depend on the value of bitcoin whether it is low or high.

TommyJr

newbie

Activity: 56

Merit: 0

Not only altcoin in this crypto market so many coins are depend on bitcoin price. Because bitcoin is the market leader. That’s why other coins are follows their strategy.

metallikingz

member

Activity: 139

Merit: 10

The problem in here is that everybody is using altcoins for making money, most of them do not even care about the technology or the progress that a single coin is having, they just want money and that is all.. So, it is all an entire cycle

OluwaTosin10

jr. member

Activity: 546

Merit: 4

Yes
I think you are right that altcoins are not independent
But your subject does not correlate your content of post

It is impossible for Etherum to clock 15,000$, let’s hope for at least 1200$
Because the market for Etherum is desperate and dumping occurs daily

richjohn

sr. member

Activity: 574

Merit: 255

I agree to that. The altcoin price is highly being driven by the general market mood which is usually set by BTC price action. Market is pretty amateur right now and altcoins don't yet move independently but according to the most dominant currency, BTC. I have seen EOS and TRX didn't move at all when there was the mainnet release because the general market conception was bearish.

alinalovedoogie

newbie

Activity: 266

Merit: 0

Actually there is no formal documents based on which we can say that altcoins are dependent but it has been noted from the past that altcoins always follow bitcoin. So we can say that altcoins are dependent on bitcoin based on the previous experience. This proves that bitcoin is the market leader.

sunlitit654

newbie

Activity: 252

Merit: 0

Yes, you are right. The price of altcoins are dependent on the price of Bitcoin. When the price of Bitcoin falls, the price of other altcoin falls well.

HerbertMarcel

member

Activity: 221

Merit: 10

I agree with you. Altcoin is not independent and it's price is dependent on the price of bitcoin. The reason behind is that bitcoin is the king crypto and has much influence over the market.

HadadC

jr. member

Activity: 266

Merit: 1

You are so right. I think, sometimes posts are really thoughtless. But we have to used to it. I hope market will rise again and people are going to open good posts.

rahimali

newbie

Activity: 252

Merit: 0

that's right that altcoin is not control by any government or athoutrity but it mainly control by the market and users. investors interest over it and their activities toward the market is the policy to control it price , even it is hard to predict what will be it's future if the price will be rise or not

NORD YGGDRASIL

member

Activity: 602

Merit: 10

I support your point of view. The price of altcoins depends on the situation on the market and on the attitude of the target audience. Also, the news front plays a big role because it is a tool for manipulating the masses.

LankaJay

newbie

Activity: 140

Merit: 0

Almost all the investors are looking at the price of main crypto currencies like BTC and ETH and they invest on all other Alt coins by looking at the price movements of those major coins. So these price movements of major pairs directly effect the prices of all other Atl coins. That is why Alt coins are not independent.

Marcel555

jr. member

Activity: 252

Merit: 4

I've always had a reserved opinion to the believe that All currencies follow BTC.
I think bitcoin being the number one coin, reflects the changes in the market (first), it doesn't particularly direct the market trend.
And all other currencies appear to follow it.

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