Topic: Are all altcoins dependent on Bitcoin? - page 19. (Read 3906 times)
For now it seems like it's true, because bitcoin is already like the mecca of all existing altcoins. When he dumps, then it's a sign of a whole altcoin, but when he's stable between regular prices, you can take advantage there, because the current movement of bitcoin, down and sideway, so continues for some time.
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!
I think not all coins in crypto market depends on bitcoin some coins are stable even if bitcoin drops massively.Maybe people who are holding altcoins dump thier altcoins because they are afraid that the price of thier holdings also drop same as bitcoin. The only reason that altcoins dropping during bear market is the people who are not holding strong and choose o dump thier coin because they are afraid of lossing. Is there no independence in the cryptocurrency world?
Thank you!
Only a handful of coins have been spawned from the Bitcoin fork, and it's not many. The majority of cryptocurrencies today are born on the basis of ETH or BNB.
When bitcoin price drops people often panic and sell their coins, there are many coins traded based on btc so when BTC drops in price other coins also go down.
When bitcoin price drops people often panic and sell their coins, there are many coins traded based on btc so when BTC drops in price other coins also go down.
Not all altcoins are built on top of bitcoin, a lot of altcoins have their own distinct foundation and it's even better than Bitcoin.
Coins crash when bitcoin crashes simply because its price revolves around bitcoin.
Coins crash when bitcoin crashes simply because its price revolves around bitcoin.
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?
Well, it is a bit of a different situation and the answer is not that simple. The "price" is not really correlated exactly, but the emotions are, which means if bitcoin is going down that means there is a reason for bitcoin going down, the simplest reason is the fact that people are selling their bitcoins and that is why it is going down but what is the exact reason for people to sell? If you find that reason you will see that usually that same reason would apply to altcoins as well.Is there no independence in the cryptocurrency world?
Now they are not one to one tied and usually when one goes down more, the other goes down less, because whatever that reason is usually impacts one more while impacts the other less. You can see bitcoin going down 10% but bnb going down 50%, or reverse bitcoin going down 50% while bnb going down 10%, that is exactly because of that reason. Long story short we are not going to see anything change differently, one goes up and other goes down because the emotions are usually the same for the market.
Altcoins are not built on bitcoin's blockchain, they all have the blockchains they are built on, e.g Ethereum has its own blockchain and Binance Smart Chain has it's own too, just that the crypto market follows bitcoins price movement, its just like a blow to the leader is a blow to his followers, bitcoin is the first cryptocurrency and also the number one in terms of coin raking, so whenever bitcoin dumps everyone just panic dump whatever altcoins they are holding.
But not all alts are following bitcoin's price movement. There are some alts that can move opposite bitcoin's activity. You can see it in their market charts, if bitcoin is going red, some are still going green and vice versa. So that alone, can tell you that not all are dependent on bitcoin's price movement. But a lot are following its activity, most are top alts. And talking about this effect, you can't find a concrete pattern for this behavior, as it changes depending on the condition of the market.
Its not all the times price action of altcoins depend on Bitcoin. Actually depend on the trend of market, sometimes price of all altcoin triggered by Bitcoin, but in another time, both was move opposite. I have seen when BTC dominance reached 70% , BTC was bullish but altcoin dumped. But that happened in many times is alltcoin depends on BTC, price action of all crypto almost the same, like many whales trade using trading bots.
It is a very contradictory scenario. On one hand, the altcoins need Bitcoin to survive. And on the other hand, Bitcoin becomes weaker when altcoins increase in value. One of the reasons for the recent correction was the overpricing among the altcoins. But in the end the correction had a bigger impact on Bitcoin, when compared to the alts. Even the most overpriced altcoins such as Dogecoin and XRP seems to have stabilized, while Bitcoin is showing a lot of weakness in terms of major parameters.
I believe it was been clear how altcoins interact with Bitcoin. Not to say that they are all dependent on Bitcoin but most likely it was what we can see since before. Without Bitcoin, I don't know what will happen to the market.
This means that Bitcoin has a huge influence on the entire crypto market and whatever it happens to Bitcoin, the same goes to altcoins as well.
This means that Bitcoin has a huge influence on the entire crypto market and whatever it happens to Bitcoin, the same goes to altcoins as well.
Because of Bitcoin dominance, mostly altcoins also follow in bitcoins trend but I don't think that all altcoins are dependent in bitcoin. It's already in peoples mind that if bitcoin went down, altcoin will follow that's why they sell their altcoins on this situation. Also I think whales are also the reason behind altcoins trend that's why it always the same as bitcoin.
With the market connection, yes, majority of the altcoins are dependent to bitcoin. As you can see, when bitcoin has pumped, most of the altcoins pumped.
And when bitcoin drops significantly, the alts did the same.
Nothing has changed, this how the market works. The entire crypto market runs in the same path, when it pumps, everything just pumps as well aside from those shitcoins that have been dead so long. And when bitcoin drops significantly, the alts did the same.
Though we think that some altcoins are independent, still its momentum just follows on Bitcoin trend. This is not new and I think we need to accept this.
of course all altcoin price movements will depend on bitcoin because bitcoin is the mother of all existing cryptocurrencies, when the bitcoin price goes up the altcoin price will also go up, when the bitcoin price goes down the altcoin price will also definitely go down, so bitcoin is the main mover of all existing cryptocurrency prices.
its true altcoin movement rellated with bitcoin direction.but its direction not 100% paralled with bitcoin. we have bitcoindominance rate here, and describe about bitcoin power in marke , it its rate down so altcoin direction will have different with bitcoin. more downside in btcd its good for altcoin. we have to understand about analisys. 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!
It wasn't clear that they are all dependent on Bitcoin but somehow if we have noticed that once Bitcoin went down, the majority of altcoins just follow. It found this scenario as many investors leaving and selling their altcoins for the sake that they can catch Bitcoin at a lower price. It was them who make the market just tied up. I'd never see any changes, this is actually how the market works and we have nothing to do with this. Is there no independence in the cryptocurrency world?
Thank you!
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!
all altcoins follow the path of Bitcoin for now, yes, if you say there is no independence for altcoins of course that is wrong, Is there no independence in the cryptocurrency world?
Thank you!
because many altcoins are already independent, the change from tokens to coins is what is called independence,
but indeed the price is still following bitcoin because altcoins have pairs in BTC
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!
Cryptocurrency gives us the freedom that we want away from the government regulations and Bitcoin started it all, and it has been the center of cryptoworld since then and that's why every time Bitcoin down, most of the altcoins are also down because people are converting their tokens/coins into a more stable one so they can buy Bitcoin or any project on a cheaper price. We have to give respect to Bitcoin and seriously, this will be the trend forever as long as Bitcoin remains on top. Is there no independence in the cryptocurrency world?
Thank you!
With the market connection, yes, majority of the altcoins are dependent to bitcoin. As you can see, when bitcoin has pumped, most of the altcoins pumped.
And when bitcoin drops significantly, the alts did the same.
And when bitcoin drops significantly, the alts did the same.
Still relying wt Bitcoin, if not all it's most of the alts. You just mentioned it, once Bitcoin experienced bull run most are green when you look at the market place, but same with the market for Bitcoin is in bear season it's shows a lots of bloodbath around.
Bitcoin still dominating and if in case that there are different direction into any alts roject it's not the majority more on individual updates.
The dependency of those related to market cannot be changed but their own progress relies on the developers.
Not all coins bro, it's just that when bitcoin experiences price drop, everyone panics to sell and that's what causes other coins to seem to depend on bitcoin
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!
Is there no independence in the cryptocurrency world?
Thank you!
Altcoins will always be dependent on bitcoin because that's where institutional investors put money the most. Now tell me, if I were you, when you see the head of the park dieing, will you stand and look or find solutions to the rest. That's exactly how bitcoin and other coins works in crypto space.
Although, there are times you see some Altcoins making upside move even when the market is plummeting. Polygon was heavily pump the last time bitcoin and other Altcoins were going down. This may be due to fomo or updates.
Altcoins are not built on bitcoin's blockchain, they all have the blockchains they are built on, e.g Ethereum has its own blockchain and Binance Smart Chain has it's own too, just that the crypto market follows bitcoins price movement, its just like a blow to the leader is a blow to his followers, bitcoin is the first cryptocurrency and also the number one in terms of coin raking, so whenever bitcoin dumps everyone just panic dump whatever altcoins they are holding.
But not all alts are following bitcoin's price movement. There are some alts that can move opposite bitcoin's activity. You can see it in their market charts, if bitcoin is going red, some are still going green and vice versa. So that alone, can tell you that not all are dependent on bitcoin's price movement. But a lot are following its activity, most are top alts. And talking about this effect, you can't find a concrete pattern for this behavior, as it changes depending on the condition of the market.
With the market connection, yes, majority of the altcoins are dependent to bitcoin. As you can see, when bitcoin has pumped, most of the altcoins pumped.
And when bitcoin drops significantly, the alts did the same.
And when bitcoin drops significantly, the alts did the same.
Still relying wt Bitcoin, if not all it's most of the alts. You just mentioned it, once Bitcoin experienced bull run most are green when you look at the market place, but same with the market for Bitcoin is in bear season it's shows a lots of bloodbath around.
Bitcoin still dominating and if in case that there are different direction into any alts roject it's not the majority more on individual updates.
unfortunately bitcoin is and remains the reference point for comparison of all altcoin markets / exchanges as a consequence of this fact bitcoin remains a driver of almost all the altcoins that follow its trail and its changes in value both towards the 'up and down, i personally hope that this situation can change and that the true value of altcoins can be given by their potential on the market and as applications in the various sectors where they are used
Alts that have real case value will soon experienced growth without relying with Bitcoin market, investors will realize the value and
start supporting the project, it will serve as jump start with more holders who are willing to support and hold.
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