Altcoins price pump influence bitcoin price Negatively ? - page 2.

Reatim

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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 ?

What do you mean causing Doubt in the entire market?and in only few occasion that Altcoin like Ripple Pumps while Bitcoin is climbing.
Mostly it is Bitcoin will Go first before altcoins like ethereum and ripple will follow.
and also How can you expect a 100% growth in bitcoin while comparing to Ripple the value is peanut.
But about XRP being manipulated?
well that has been a issue for long time now,That ripple is manipulated and there is no Legit Pump that happens.
Though Even how great altcoin move,still Bitcoin will close the market each bull.

ethereumhunter

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Quote from: shoreno on December 02, 2020, 04:53:00 AM

only one coin pumps 100 percent and all industry will be a scam ? haha . i will believe if he says that all coins pump 100 percent because thats more questionable but one coin that pumps a hundred percent shouldnt be easily judge as a scam but take a look if what coin was that and take a research about that coin if you see a positive news behind it then that was a legit pump .

p.s : if btc pump 1000 percent will you guys say that it was a scam ? fck it , scam or not ill still be happy because i can be finally rich if that happen

Hahaha, you're right. I think he gets a scam from one project, so he says that all are scams. I don't think they will say that bitcoin is a scam if the price pumps 1k% and they make a huge profit from that. But for people who buy bitcoin at the highest price and not having a chance to sell it again to another high price and just hold it will say that the bitcoin is a scam. That is because they are getting trap at the highest price, and it is hard to manage their losses.

Altcoinsintel

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Quote from: Luzin on December 02, 2020, 05:27:53 AM

Quote from: Altcoinsintel on December 02, 2020, 04:35:18 AM

I also think this is possible. We witnessed Bitcoin stalling and not testing 20k and altcoins like XRP and Stellar suddenly making 100% in two days.

From the past, XRP has been widely adopted by banking companies. If I'm not mistaken they already have 300 financial institutions on their global payment network , otherwise known as RippleNet. FINMA or the Swiss Financial Market Supervisory Authority also uses XRP for credit requests. If recently XRP is high, I think this is reasonable besides that if you hear that there will be a SPARK airdrop from the Flare Network with a ratio of XRP: SPARK = 1: n, this also causes some traders to choose to hold and buy until the snapshoot period ends.

Sure bro, whatever. I just don't care about XRP and whatever you say you don't have to promote or shill your bags to me. Do that on twitter you guys are more convincing when you talk to the clueless.

Vishnu.Reang

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Most of the altcoin trade volumes comes from trading between altcoin-bitcoin pair. Only a minority comes from trading with fiat currencies. Under such circumstances, it is natural that an increasing market share of altcoins may negatively impact the Bitcoin market cap. However, during the current rally, Bitcoin has remained strong, with more than 62% market share (back in 2017, during the rally it was less than 40%).

Luzin

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Quote from: Altcoinsintel on December 02, 2020, 04:35:18 AM

I also think this is possible. We witnessed Bitcoin stalling and not testing 20k and altcoins like XRP and Stellar suddenly making 100% in two days.

From the past, XRP has been widely adopted by banking companies. If I'm not mistaken they already have 300 financial institutions on their global payment network , otherwise known as RippleNet. FINMA or the Swiss Financial Market Supervisory Authority also uses XRP for credit requests. If recently XRP is high, I think this is reasonable besides that if you hear that there will be a SPARK airdrop from the Flare Network with a ratio of XRP: SPARK = 1: n, this also causes some traders to choose to hold and buy until the snapshoot period ends.

shoreno

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Quote from: ethereumhunter on December 02, 2020, 02:52:04 AM

Quote from: AbbyS on December 01, 2020, 06:04:13 PM

Quote from: yhiaali3 on December 01, 2020, 12:08:56 PM

Quote from: AbbyS on December 01, 2020, 08:17:16 AM

the point is the trust in the market, when investors see that in 48h a major coin went up 100% for really no apparent reason, then the trust is shaken in the entire market, that's my honest opinion

The point you pointed to is that a 100% rise in a coin will lose confidence in the entire market is correct, but we can look at that from another point of view as a 100% rise in a coin within days will attract more enterprising investors who like to see their money multiply within two days. This is also a possibility and it could have a positive effect on increasing liquidity in the market.

true, but also can label the entire industry as scam.

No, I don't think that can make the entire industry a scam because people will think about which project or coin is a scam and will not invest or buy it. I think people now become smarter than a few years ago, and they will search for the right news and not join in the project that they don't know or will not invest in the coin that they don't have much info.

only one coin pumps 100 percent and all industry will be a scam ? haha . i will believe if he says that all coins pump 100 percent because thats more questionable but one coin that pumps a hundred percent shouldnt be easily judge as a scam but take a look if what coin was that and take a research about that coin if you see a positive news behind it then that was a legit pump .

p.s : if btc pump 1000 percent will you guys say that it was a scam ? fck it , scam or not ill still be happy because i can be finally rich if that happen

Altcoinsintel

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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 ?

I also think this is possible. We witnessed Bitcoin stalling and not testing 20k and altcoins like XRP and Stellar suddenly making 100% in two days. Altcoins rising extremely fast is a bad indication of a bubble forming. This rise was not understandable as nobody cared to invest in XRP or XLM and there wasn't any news of these coins to be used for something they weren't already.
Perhaps Grayscale bought some to sell to the institutions as "diversification".

Wawa2013

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As far as I know Bitcoin will not be affected by rising altcoins prices, because usually altcoins prices are affected by Bitcoin.
Moreover, when trading altcoins, usually use Bitcoin pairing, so the Bitcoin price increases. I have not found any increase in
the altcoins price to affect the Bitcoin price.

noorman0

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[Nope]No hype delivers more than hope

Bitcoin and altcoin are not related, but the price of bitcoin will affect other coins in general.

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

the XRP pumps like crazy 100%+ within 24h, causing doubt in the entire market!

I think the price of ripple is pumping up not in the search for new ATHs, more precisely because of their new token airdrop program.
If I remember, distribution will be in next week. We'll see what happens next. I believe Bitcoin will remain viable in this bullish market.

ethereumhunter

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Quote from: AbbyS on December 01, 2020, 06:04:13 PM

Quote from: yhiaali3 on December 01, 2020, 12:08:56 PM

Quote from: AbbyS on December 01, 2020, 08:17:16 AM

the point is the trust in the market, when investors see that in 48h a major coin went up 100% for really no apparent reason, then the trust is shaken in the entire market, that's my honest opinion

The point you pointed to is that a 100% rise in a coin will lose confidence in the entire market is correct, but we can look at that from another point of view as a 100% rise in a coin within days will attract more enterprising investors who like to see their money multiply within two days. This is also a possibility and it could have a positive effect on increasing liquidity in the market.

true, but also can label the entire industry as scam.

No, I don't think that can make the entire industry a scam because people will think about which project or coin is a scam and will not invest or buy it. I think people now become smarter than a few years ago, and they will search for the right news and not join in the project that they don't know or will not invest in the coin that they don't have much info.

adzino

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I doubt anything like that happens. When bitcoin price starts to soar, the price of altcoin starts to drop. This is because people starts dumping their altcoin stash to join the bitcoin bull market. Hence, altcoins drop even further while bitcoin starts to rice. Once the bull market is over and the correction takes place, people sells some of their bitcoin for profit and then buys back their altcoins for cheaper. Hence altcoins starts to rise back but without affecting the price of bitcoin. If people see bitcoin dumping, they start dumping their altcoins too, to buy bitcoin for cheap!

verita1

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When Bitcoin falls, altcoins tend to fall as well. But the market responds by slowly raising Bitcoin and the other coins. Fortunately we see a recovery in them. Regarding XRP, it reached its highest peak of US $ 3.40 on January 7, 2018. Since then, the price has remained below $ 1 despite leading the 3rd place in the crypto market.

Noctis Connor

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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 ?

Ofcourse not this bitcoin and altcoin are in separate community which has different users and different people who are pumping them, No one knew that this altcoins will pump as well maybe this could be an coincidence between them, You can't say that they manipulated the pumps but let's say that altcoin investors are show some interest to invest their money not only in bitcoin but to those altcoins that they knew it will be that on that price sooner or later.

Ridwan Fauzi

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

Are altcoins like stellar and xrp harming the bitcoin price by their manipulated pumps ?

I think no, there is no harm for bitcoin if the altcoin price up. Can you see the marker correctly? Because in my opinion all altcoin price market will be pumped when bitcoin price is already pumped. I mean, most investor will trade in bitcoin only when bitcoin price getting pump so as it will affect to altcoin price thaf will be dumped a lot. And when bitcoin price meet a sideaway market the investor will pump some altcoin. As you can see there is no altcoin who successfully reaced the previous all time high, if you found it can you tell me. In this bull run market I suggested you to trade or invest your money in bitcoin only.

AbbyS

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Quote from: yhiaali3 on December 01, 2020, 12:08:56 PM

Quote from: AbbyS on December 01, 2020, 08:17:16 AM

the point is the trust in the market, when investors see that in 48h a major coin went up 100% for really no apparent reason, then the trust is shaken in the entire market, that's my honest opinion

The point you pointed to is that a 100% rise in a coin will lose confidence in the entire market is correct, but we can look at that from another point of view as a 100% rise in a coin within days will attract more enterprising investors who like to see their money multiply within two days. This is also a possibility and it could have a positive effect on increasing liquidity in the market.

true, but also can label the entire industry as scam.

judas

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Altcoins can't affect the Bitcoin price. The most dominant cryptocurrency in the market is Bitcoin. However, Bitcoin can affect altcoin prices. We have seen so many cases that Bitcoin did this. As long as Bitcoin stays the most dominant, I think it will continue to be like this.

ololajulo

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Altcoins pump with bitcoin dump is occasional especially for the bear market. Last year bitcoin pump squeezes the fund out of altcoins, everyone was selling altcoins for bitcoin, it rose from $3200 to $14000 while altcoin had its terrible dip,however, few coin like BNB made their new ATH. The repetition this year was in sections, Defi pump in price as bitcoin pumps, same thing is happening currently. I like to believe that altcoins will get more interesting and FOMO into altcoin will get crazy soon, many altcoins will make their ATH in bitcoin value that they will never attain again, it will be smart to take good profit in altcoin as it pumps in coming months

wxa7115

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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 ?

You are overthinking things, except for those that are invested in XRP most of the community does not care, in fact before the growth of XRP during this year and its ridiculous pumps in price the coin had remained still for a long time so many people forgot that coin even existed.

So it is a mistake to think that just because XRP is doing weird things that somehow this is going to discourage bitcoin investors, the reduction in the price we are seeing right now has to do with the fact that as soon as we reached a new all time high people got scared and began selling their coins because of it.

jossiel

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

Are altcoins like stellar and xrp harming the bitcoin price by their manipulated pumps ?

Not that really. Before, you may imagine about icos and how did it affect bitcoin's price. We saw a lot of projects turned into bitcoin and how huge money was going in and out from those projects. But this time, we're looking at the natural growth of bitcoin, and the halving that just happened last May is in effect already.

Too many reasons why we're seeing the price increase this time. PayPal's news and other positive news that portrays bitcoin adoption. And if you think that altcoins are affecting bitcoin's price negatively, I don't think that we're still in the same phase of bitcoin that's being affected by altcoins movement, not this time anymore.

gregy45

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Many of the Altcoins turned out to be either projects with no future or outright fraudulent schemes. As a result, altcoins are mostly the cause of losses among investors, because, in addition, they take away attention from bitcoin.

Most altcoins have had and still have millions of market capitalizations, meaning that representatives of the cryptocurrency industry have invested enough money in them. Of course, redirecting these funds to Bitcoin would seriously change the current situation with the Bitcoin exchange rate.

For example, projects such as Auroracoin, Paycoin, The DAO, and Bitconnect ended in either failure or a fraudulent scheme. The fraudulent Bitconnect project ceased to exist in 2018.

There are really a lot of "useless" altcoins in the cryptocurrency industry. They attract investors with the possibility of quick earnings due to the relatively high volatility. However, most often altcoins with low capitalization bring only losses and frustration to newcomers in the industry who do not have time to exit the project in time and find themselves in the red.

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