Altcoins price pump influence bitcoin price Negatively ?

Cnut237

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Quote from: AbbyS on November 27, 2020, 08:47:21 PM

I have the impression that every-time bitcoin starts climbing steadily, the XRP pumps like crazy 100%+ within 24h, causing doubt in the entire market!
Are altcoins like stellar and xrp harming the bitcoin price by their manipulated pumps ?

XRP rose recently because of the Spark airdrop.
But the general pattern is I believe related to market confidence. Once some positive confidence is established, then BTC starts to rise. If the confidence then gets even higher, people drop out of BTC and start buying alts. You will often see that an alt boom follows shortly after a BTC boom.

bryant.coleman

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Even now, there are a certain section of the investors who believe that 2017 would repeat (when altcoins went up much more than Bitcoin). But they are ignoring the most important fact this time. The current rally has nothing to do with altcoins. The spike has occurred solely due to the mainstream adoption of Bitcoin, and altcoins are not in the picture here. I would even predict that the Bitcoin dominance will increase from the current level of 65% to somewhere around 75%-80%.

Pom_bensin

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Quote from: AbbyS on November 27, 2020, 08:47:21 PM

I have the impression that every-time bitcoin starts climbing steadily, the XRP pumps like crazy 100%+ within 24h, causing doubt in the entire market!
Are altcoins like stellar and xrp harming the bitcoin price by their manipulated pumps ?

It doesn't seem like it's affected anything for bitcoin, because the truth is bitcoin affects altcoins. look when bitcoin has increased, altcoins also experience although not all altcoins have experienced a significant increase, but it will happen. Currently, for xrp and stellar, they cannot fully influence the bitcoin market

AbbyS

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My issue is specifically with XRP, is it possible that XRP is used to limit the btc bull?

AbbyS

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xrp dumped and then btc went up, coincidence ?

ichi

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Bitcoin's value activity impacts altcoin value activity. That is it, there are no certain or negative criticism circles here. Altcoin volumes are too little to even consider evening hypothetically influence Bitcoin. What's more, Bitcoin speculators never thought about what's going on with altcoins. In any event, when alts were encountering tremendous development, and Ethereum was near overwhelming Bitcoin's spot as the biggest marketcap coin, Bitcoin merchants actually couldn't have cared less about Ethereum and different alts, as there was 0 relationship between's their occasions and Bitcoin's cost.

Sithara007

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There is no doubt that the increasing market cap of altcoins will have a negative impact on the exchange rates. There is a lot of overlap between the userbase of Bitcoin, and that for altcoins. So if the altcoin market cap is increasing, that means that at least some of the Bitcoin holders are selling their coins and moving to altcoins for better profits. I just hope that they will not end up like what happened in 2018, when most of the alts went down by 95% to 99%.

MCobian

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Of course the increase in the price of the altcoins does not affect the price of Bitcoin, which is that the price of Bitcoin may affect
the price of the altcoins. So the XRP price increase does not have a negative effect on the Bitcoin price, if the Bitcoin price goes
down while the XRP price goes up it might just be a coincidence.

XRP increases the possibility of price manipulation from whales, we definitely know that XRP is supported by many big banks, so
the possibility of an increase in the XRP price is indeed a manipulation by banks. And there is no need to worry about the decline
in the price of Bitcoin, because Bitcoin is only experiencing price corrections.

erikoy

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Quote from: kayvie on December 09, 2020, 04:38:37 PM

I don't think that is the reason for the pump in altcoins. Especially in xrp, there is this even in xrp which is the spark token airdrop. We can see this as a reason for the increase in the price of xrp, it does not harm the price of bitcoin or even manipulated by the pumps of it.

I see whales are the main reason to play along with this coin. It could also be the owner of the coin in which he could pump up or pump down the coins due to his huge holdings. It might be not good if you as a trader will not be able to get along with during the pump and dump. However, if you know and smart enough with the situation of some altcoins like XRP then you can earn in it even greater than investing in bitcoin. Just always remember the best time when to invest your money in these altcoins.

AjithBtc

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Quote from: kayvie on December 09, 2020, 04:38:37 PM

I don't think that is the reason for the pump in altcoins. Especially in xrp, there is this even in xrp which is the spark token airdrop. We can see this as a reason for the increase in the price of xrp, it does not harm the price of bitcoin or even manipulated by the pumps of it.

People always come to conclusion, if there is growth with altcoins then it'll affect the growth of bitcoin. I don't find this to be true, because everytime the growth of altcoins takes place following the bitcoin price pumping. Maybe few top listed altcoins grow high even when there is decline in the market of bitcoin. This is based on the market of that particular altcoin. For this we can't correlate bitcoin market getting influenced by the altcoins price pumping.

kayvie

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I don't think that is the reason for the pump in altcoins. Especially in xrp, there is this even in xrp which is the spark token airdrop. We can see this as a reason for the increase in the price of xrp, it does not harm the price of bitcoin or even manipulated by the pumps of it.

AbbyS

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Quote from: oktana on December 04, 2020, 04:52:11 PM

Absolutely different coins affecting each other? I doubt! I don't see How the pump of stellar will affect Bitcoin's price. The only case where this may be true is when the hodlers of stellar are mostly holders of bitcoin too.

won't the new investors in crypto see that something must be wrong when you have a 100% gains overnight ?

oktana

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Absolutely different coins affecting each other? I doubt! I don't see How the pump of stellar will affect Bitcoin's price. The only case where this may be true is when the hodlers of stellar are mostly holders of bitcoin too.

n0ne

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Altcoins doesn't have anything to with the market of bitcoin. Altcoins most of the time follow the growth pattern of bitcoin. We can't say every altcoin is an independent asset, with bitcoin it is true. Experts and large volume holders have started to give importance to bitcoin holding understanding its potential.

qwertyup23

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Quote from: AbbyS on November 27, 2020, 08:47:21 PM

I have the impression that every-time bitcoin starts climbing steadily, the XRP pumps like crazy 100%+ within 24h, causing doubt in the entire market!
Are altcoins like stellar and xrp harming the bitcoin price by their manipulated pumps ?

Do you have any actual data to support your claim? Is this like a mere opinion without any factual basis?

Again, the prices of altcoins against bitcoin are independent of each other. Though there may be cases where both increase/decrease at the same time, one cannot fully justify that the reason for the change on their price is due to the other.
In order to understand the market of bitcoin, check the latest news on cryptocurrencies. There are lots of factors that need to be considered on their price increases/decreases.

Mike Mayor

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It depends on which currency is being sold to buy those XRP. Are people using fiat to buy bitcoin and then XRP? In which case the price of both goes up. Are people using their saved bitcoin? In which case the bitcoin price goes down? Or are they using other alt currencies to sell to buy XRP? It is most likely a mix of all 3. Those are the three possibilities. You would have to seriously analyze each major currency from a few months ago till now to check on the market capitals.

AlttAdmn

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To observe this in action
You can statistically analyse the price of btc after some altcoins pump 80-100%+

AbbyS

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Quote from: acdc on December 03, 2020, 05:10:40 AM

Quote from: idrisalomagold on November 27, 2020, 10:29:17 PM

Quote from: AbbyS on November 27, 2020, 08:47:21 PM

I have the impression that every-time bitcoin starts climbing steadily, the XRP pumps like crazy 100%+ within 24h, causing doubt in the entire market!
Are altcoins like stellar and xrp harming the bitcoin price by their manipulated pumps ?

I didn't see significant correlation between bitcoin and other alts especially XRP in events of recent price increased.

There is still little correlation between the altcoins going up and the price of bitcoin but that's not much.
It is clear that if investors perceive that altcoins will do well, they will reduce investments from bitcoin and increase investment in other altcoins.

the point of view you are looking at is investors, i am looking at the general public's

acdc

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Quote from: idrisalomagold on November 27, 2020, 10:29:17 PM

Quote from: AbbyS on November 27, 2020, 08:47:21 PM

I have the impression that every-time bitcoin starts climbing steadily, the XRP pumps like crazy 100%+ within 24h, causing doubt in the entire market!
Are altcoins like stellar and xrp harming the bitcoin price by their manipulated pumps ?

I didn't see significant correlation between bitcoin and other alts especially XRP in events of recent price increased.

There is still little correlation between the altcoins going up and the price of bitcoin but that's not much.
It is clear that if investors perceive that altcoins will do well, they will reduce investments from bitcoin and increase investment in other altcoins.

xZork

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I thought that if investors poured money into other altcoins then bitcoin's price would drop slightly, but the altcoin season is underway so that won't have much effect on the price of bitcoin.
Even if other altcoins have grown, bitcoin is still the king of the crypto market and no single coin can stop bitcoin.

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