Topic: Are all altcoins dependent on Bitcoin? - page 21. (Read 3906 times)
Probably yes in my opinion coz as you can see after the criticism and the declined in bitcoin all crypto currency in the market become affected and now they are still down because bitcoin still struggling as well. No one literally can say its not, since it alway happened every time when whales manipulated bitcoin value. I dont know if there's someone can tell and explain that it's impossible to happen especially on this situation right now..
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!
This is not true. ETH and ADA for example are their own blockchain technologies.
You also have BSC that is built on ETH for example.
You can trade tokens like FLUR on the BSC and you pay small fees on the BSC. Speaking of witch, FLUR is an interesting project that could see some serious gains. DYOR but I think everyone should take a look.
Is there no independence in the cryptocurrency world?
This only tells the gnomes that the cryptocurrency market is very centralized. BTC Dominance: 40%Therefore, it is enough to manipulate the bitcoin price and all coins and tokens will follow the bitcoin price.
The situation will change every year as cryptocurrency projects are more integrated into various economic relations.
I have not see any altcoin that isnt dependent to BTC. Eth shouldn't be dependent but because there is a pair BTC/ETH it still becomes dependent.
The ERC20 tokens are also dependent to ETH which every time the price goes up or down, ERC20 tokens also follow. The only that isnt dependent are the stablecoins. Not surprise. 😄
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!
Most altcoins have no real connection to BTC, except their pairing on exchanges.
When BTC starts dropping, people usually exit alts and try to buy BTC at lower prices, thus causing a cascade effect
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!
Most altcoins have no real connection to BTC, except their pairing on exchanges.
When BTC starts dropping, people usually exit alts and try to buy BTC at lower prices, thus causing a cascade effect
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!
no, it's just that if bitcoin goes down some people panic and sold their coins since they thought if bitcoin goes down, altcoins will follow, it depends on the project mostly go down because there are things that happen in their community like FUD, or they fail to deliver something which they have promised, and investors might think its a scam or maybe the project will not be popular, there are lots of things to consider. Is there no independence in the cryptocurrency world?
Thank you!
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.
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.
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!
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