Are all altcoins dependent on Bitcoin? - page 18.

Vishnu.Reang

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Quote from: matchi2011 on June 09, 2021, 01:32:11 PM

Yeah right, even the project tried to pushed for more but if Bitcoin continue to experienced downfall most of the time alts will follow and also experienced the declined,

Investors are working on every opportunities but if they've seen that the main asset are not performing very well they need to hold on and pause for a while.

Cardano is the best third generation altcoin, in terms of technology. And that justifies it's position as the 5th largest cryptocurrency and the market cap of >$50 billion. But in terms of acceptability, Cardano is lagging behind some of the smaller altcoins such as Litecoin and Bitcoin Cash. Despite the advanced features, the developers haven't succeeded in making this coin very user friendly. They need to learn from coins such as Litecoin, which are really user friendly. We need to remember that less tech savvy users also need to use cryptocurrency.

matchi2011

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Quote from: apa don on June 09, 2021, 12:49:34 PM

Quote from: xmonkeyx on June 09, 2021, 10:22:54 AM

not all, there are some altcoins that move because of the influence made by their own team which has an impact on high demand or vice versa, but many altcoins that follow the BTC trend are also influenced by buyer demand in the market which also attracts investment in altcoins if something happens decrease in BTC.

Yes, but what was seen in yesterday's market correction it was very clear that because Bitcoin experienced a very large decline, and at this time Cardano Altcoin was still experiencing an increase but it did not last long because on the next day Cardano also experienced a decline.

Yeah right, even the project tried to pushed for more but if Bitcoin continue to experienced downfall most of the time alts will follow
and also experienced the declined,

Investors are working on every opportunities but if they've seen that the main asset are not performing very well they need to hold on
and pause for a while.

7788bitcoin

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Quote from: KingsDen on June 08, 2021, 05:54:52 AM

I want to understand if all altcoins are built upon the foundation of BTC. This is because when there is severe crash of BTC, all other coins, I mean all, also crash.

One thing we can very well say that the alt market followed the Bitcoin path and everyone wants to make money and initially it was all about fun coins and majority expecting that it could help them make money but the way the market is moving, everything follows Bitcoin valuation and the market moves along with it and when there is a correction in Bitcoin the entire market falls along with it.

BRABO2

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Quote from: Jawhead999 on June 08, 2021, 09:16:20 AM

No, not all altcoins were made upon of BTC, only Bitcoin forks (e.g. BCH, BSV etc) are built upon BTC. But it's doesn't mean all Bitcoin forks will follow Bitcoin price because it's not pegged 1:1 just like Wrapped Bitcoin (Bitcoin in another chain).

Also not all altcoins are following Bitcoin price, it's because of the market condition whether they see Bitcoin pump they believe altcoins will follow to since the market is healthy and vice versa. USDT is the one coin that often do opposite with Bitcoin, because when Bitcoin dump people will sell their Bitcoin to USDT. This will make USDT price higher (a bit pump) since many people have high demand.

Yes,you are right. I am agree with your post. All altcoins Don't depend on bitcoin. it's because of the market condition whether they see Bitcoin pump they believe altcoins will follow to since the market is healthy and vice versa.So,The bitcoin is not the only thing for depending all altcoins.

apa don

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Quote from: xmonkeyx on June 09, 2021, 10:22:54 AM

not all, there are some altcoins that move because of the influence made by their own team which has an impact on high demand or vice versa, but many altcoins that follow the BTC trend are also influenced by buyer demand in the market which also attracts investment in altcoins if something happens decrease in BTC.

Yes, but what was seen in yesterday's market correction it was very clear that because Bitcoin experienced a very large decline, and at this time Cardano Altcoin was still experiencing an increase but it did not last long because on the next day Cardano also experienced a decline.

Codecode

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So why almost all crypto follow trends with a BTC when it falls?

iTradeChips

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Well in my understanding is that not all the time Bitcoin can affect the prices of altcoins. Depending on the trend of the market at the time, there are occasions that the altcoin price can be affected and triggered by the price changes happening in Bitcoin. If you noticed there were trends before that Bitcoin continuously goes up for a few weeks while the alts stay were they were meaning no sudden spike in the alt coins. Now that bitcoin is correcting you see altcoins and some of them are going up even if Bitcoin's price decreases.

sapnu

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If you can see the pattern or the movement of the price of altcoins with relation to bitcoin, you can see that both usually moves in parallel wherein as bitcoin rises, the altcoin rises as well. That may be the case but not all altcoins depends on bitcoins bull run or bear market. There are instances where the success of bitcoin is made because of the influence it made and the success it reached over the years. Mostly they are helped by bitcoin that's why they made it to where they are right now but other times they made it there because of the owner of the currency or the team's perseverance.

xmonkeyx

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Quote from: KingsDen on June 08, 2021, 05:54:52 AM

I want to understand if all altcoins are built upon the foundation of BTC. This is because when there is severe crash of BTC, all other coins, I mean all, also crash.

Is there no independence in the cryptocurrency world?

Thank you!

not all, there are some altcoins that move because of the influence made by their own team which has an impact on high demand or vice versa, but many altcoins that follow the BTC trend are also influenced by buyer demand in the market which also attracts investment in altcoins if something happens decrease in BTC.

Davian144

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Quote from: aprilnot on June 09, 2021, 07:10:44 AM

actually it is not correct to call it dependent, but more to be affected by bitcoin. when bitcoin crashes, people's confidence level for hodl will decrease and as a result they prefer to sell to prevent bigger losses. altcoins are always impacted indirectly, but there are cases when bitcoin crashes some altcoins go up. This proves that actually altcoins are independent of bitcoin.

Some Altcoins that go up when Bitcoin crashes are stablecoins and coins that are not in the popular category, because all popular Altcoins always follow the Bitcoin market trend and you can prove it when Bitcoin is up and also when Bitcoin is down, all of them will always follow the Bitcoin rally except what I said earlier. So in general almost all Altcoins always depend on Bitcoin.

shushu9977

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we know, bitcoin is first crypto-currency in the crypto world and from the beginning, it will the toppest coin always. so maximum coins are follow the bitcoin. But, there are few stable coins which are always hold their position such as Tether, trueusd, usd coin, binanceusd etc.

Cling18

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No, there are lots of potential altcoins that aren't depending on Bitcoin but we can't deny the fact that every event of Bitcoin situation could affect the prices of altcoins. Bitcoin as the father of all cryptocurrencies is too influential that it could also change the whole market situation. Other altcoins could survive alone yet Bitcoin could always affect them in different ways.

globalpain

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Quote from: aprilnot on June 09, 2021, 07:10:44 AM

actually it is not correct to call it dependent, but more to be affected by bitcoin. when bitcoin crashes, people's confidence level for hodl will decrease and as a result they prefer to sell to prevent bigger losses. altcoins are always impacted indirectly, but there are cases when bitcoin crashes some altcoins go up. This proves that actually altcoins are independent of bitcoin.

Much better I think when bitcoin goes down we just stay patient and hold it in,
because in my opinion, sooner or later bitcoin will definitely come back but it's back to each other's decisions,
basically not all altcoins depend on bitcoin we have to know about it

Ararbermas

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It's impossible to happen but has a possiblity to influence all the cyrpto currency in the market in my opinion, especially in such issue wherein a bunch of holder always going crazy to dump. Indeed when market bitcoin fluctuate those crypto below make a reactions as well in the market.. But this time for sure the reason why most of the crypto currency is affected it's because maybe those whales dump as well in the market after elon's and tesla through bitcoin .. And they're all correct because as you see until now people in the market still panicking because of another fluctuation..

Reid

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It should not be.
I don't know why the hell they are also being dumped after bitcoin is crushed.

It's like whales have every portion in every altcoin that whenever they dump bitcoin they also dump other coins.
Or, could it be a domino effect from fear of other investors with different altcoins, something like that.
But to be precise, there should not be a connection with either one. Every coin should be a stand alone market.

ilovealtcoins

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Most altcoins are dependent on the movement of Bitcoin. You can see the market moving with Bitcoin in the past days when Bitcoin continuously dropped in price and today when Bitcoin bounced to $35k, altcoins have gradually recovered.
Some altcoins move because of the news and teams that manipulate the value so they chart differently than Bitcoin. Most of them move with Bitcoin as a whole.

tyz

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Quote from: Sithara007 on June 09, 2021, 12:23:18 AM

It is a very contradictory scenario. On one hand, the altcoins need Bitcoin to survive.

I would say this is a bold theory. No altcoin actually need Bitcoin to survive. It's just that at the moment Bitcoin is the main trading currency to most altcoins and therefore serves as an intermediary tool. You could also say Bitcoin is the USD of the crypto world. But just as in the non-crypto world, where the influence of the Dollar is diminishing, the influence of Bitcoin on the crypto world is becoming more and more limited.

trauchot

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Well, in general, most likely it is, because already many years I have been following the cryptocurrency market and the movement of the entire cryptocurrency market, and when bitcoin starts to fall or rise in price, then altcoins also begin to repeat the same movements of bitcoin, but sometimes it happens that altcoins by themselves grow or fall in price and vice versa, the same happens with bitcoin, therefore, altcoins do not copy bitcoin's movements at one hundred percent, but in most cases, of course, altcoins follow bitcoin movements.

Psynthax

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Not really, it's just market phschology in general since most of altcoins are paired against bitcoin so when it crashes people also getting afraid of bitcoin making their coin looks less valuable but some of altcoins also not really dependant on bitcoin but mostly are shitcoins that usually stray away from following bitcoin market price movement.
but seriously though, you should consider seeing your asset more in btc value than in dollar value of you truly believe in crypto future since it means you're seeking for future profit rather than despairing at the current bearish,

aprilnot

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actually it is not correct to call it dependent, but more to be affected by bitcoin. when bitcoin crashes, people's confidence level for hodl will decrease and as a result they prefer to sell to prevent bigger losses. altcoins are always impacted indirectly, but there are cases when bitcoin crashes some altcoins go up. This proves that actually altcoins are independent of bitcoin.

Topic: Are all altcoins dependent on Bitcoin? - page 18. (Read 3906 times)