Most are possible and but not all like stablecoins, the ups and downs of the two won't affect it, and perhaps the main reason why prices are so highly correlated is that many altcoins are bought with bitcoin. So, buying bitcoin is followed by buying altcoins which pushes the price of both coins up.
and conversely if anyone wants to sell their altcoin, they will first sell that altcoin for bitcoin, and then sell bitcoin for cash and this pushes both prices down.
Topic: Are all altcoins dependent on Bitcoin? - page 4. (Read 3906 times)
Yes and that is where most guys in the industry agree upon already. As Bitcoin is so similar to gold it will probably forever remain a kind of reserve currency for all other cryptocurrencies that might be launched in the future. But I would say that crashes in Ethereum could also lead to other coins getting dumped. Ethereum also has a bit of a reserve currency characteristic.
All altcoins come from Bitcoin, whereas all ERC-20 and ERC-721 tokens come from Ethereum. This explains why Bitcoin acts as the reserve cryptocurrency of the market, while Ethereum acts as the reserve cryptocurrency of tokens. Without these big players (BTC and ETH) leading the way, other cryptocurrency projects will be doomed. As I've said many times before, Bitcoin is the original cryptocurrency which started it all. Without it, none of this would've been possible. Unless a new cryptocurrency with a new technology superior to Blockchain comes out, everything will remain most likely the same as it is right now.
Altcoins will come and go, but Bitcoin will become stronger than ever before. It doesn't matter if altcoins are dependent from Bitcoin or not. What matters is how useful the coin is for mainstream payments. As long as an altcoin has real use cases for the mainstream world, nothing else matters. Just my thoughts
yes in my opinion all altcoins depend on bitcoin because if bitcoin market down all alternate coin goes down . we say bitcoin the mother of cryptocurrency. in future whays heppen we dont know but present time all altcoin depend on bitcoin....
it's true because basically bitcoin is one of the references for altcoins to adjust prices, but not all altcoins refer to bitcoin in the sense that only those connected to bitcoin can be said to be like that. There are many examples of altcoins that don't follow bitcoin like bitcoin cash etc.Don't generalize all altcoins are all bitcoin because some are not.
The trend still relies the most with how Bitcoin market moves, though you are right it shouldn't be generalize
but instead work on with the project that you understand more clearer, the market for now is moving against
Bitcoin if you trace it back from the last time high.
Tell me one single coin (except for stable coins....) that completely resisted a hard Bitcoin crash. Like Bitcoin crashed 25% within a week or even more and there was this one coin that even went up consistently, not only once because it got pumped. I am sure you won't find one. If Bitcoin crashes really badly, the whole market goes down.
yes in my opinion all altcoins depend on bitcoin because if bitcoin market down all alternate coin goes down . we say bitcoin the mother of cryptocurrency. in future whays heppen we dont know but present time all altcoin depend on bitcoin....
it's true because basically bitcoin is one of the references for altcoins to adjust prices, but not all altcoins refer to bitcoin in the sense that only those connected to bitcoin can be said to be like that. There are many examples of altcoins that don't follow bitcoin like bitcoin cash etc.Don't generalize all altcoins are all bitcoin because some are not.
The trend still relies the most with how Bitcoin market moves, though you are right it shouldn't be generalize
but instead work on with the project that you understand more clearer, the market for now is moving against
Bitcoin if you trace it back from the last time high.
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!
That's the pattern that is done in this world, the attachment between each other cannot be separated from the supervision of those in power, BTC itself has prepared a pattern that binds all coins, meaning that if BTC crashes, other coins will also receive the effect.
If this is not done, then BTC will continue to be eroded by time and they will not be able to stay in the top position, this pattern will continue as long as they feel the need to be applied so that stability can continue to be maintained.
Talking about independence in the cryptocurrency world is not so important to them, meaning that as long as both of them feel that they are benefiting from this pattern, what is considered is not independence, then the cryptocurrency world is only controlled by those who have the capacity and have stood the test of time.
Recently I heard that there is a group of people who want to create independence in the cryptocurrency world that they control in China, but we haven't seen the maximum results from them, hopefully in the future there will be a team that can change this rule, I hope so???
BTC is not the foundation of altcoins because altcoins have its own usage and market value. Bitcoin has the highest value altcoins thats why if its price drop or increase it will affect the other altcoins as BTC is the main crypto currency in the wolrd.
In theory, altcoins have their own unique usage. But in 90% of the cases, they are just used as a mode of payment, or as a store of value (especially with stablecoins). And with so much competition in the payments sector (and where the recent growth is minimal), there is a lot of overlap between the altcoins and Bitcoin. Since both of them are used for the same purpose, the exchange rates will also remain closely linked. On top of that, the user profile is also very similar. It will be very difficult to find cryptocurrency users who exclusively use either BTC or altcoin. In the vast majority of the cases, they will be using both.
Bitcoin is the king of encryption and has the largest market dominance in the entire market value of cryptocurrencies. The price of Bitcoin will affect the price of other altcoins. When the price of Bitcoin falls, the price of most altcoins will also fall. When the price of Bitcoin rises, the price of altcoins will generally increase. Although some altcoins have independent chains, their momentum still closely follows the Bitcoin trend.
BTC is not the foundation of altcoins because altcoins have its own usage and market value. Bitcoin has the highest value altcoins thats why if its price drop or increase it will affect the other altcoins as BTC is the main crypto currency in the wolrd.
yes in my opinion all altcoins depend on bitcoin because if bitcoin market down all alternate coin goes down . we say bitcoin the mother of cryptocurrency. in future whays heppen we dont know but present time all altcoin depend on bitcoin....
it's true because basically bitcoin is one of the references for altcoins to adjust prices, but not all altcoins refer to bitcoin in the sense that only those connected to bitcoin can be said to be like that. There are many examples of altcoins that don't follow bitcoin like bitcoin cash etc.Don't generalize all altcoins are all bitcoin because some are not.
It is the case although I sometimes hope the day will come that literally every single other coin follows Bitcoin. By now there are too many different coins if you look at how similar they move to Bitcoin. There are other algorithms, other functionalities and much more differences. The biggest problem I see that might impact every single coin is when cryptocurrencies as a whole get attacked or punished by law and regulation, but that is not always the case. When China bans Bitcoin mining, why would all PoS coins go down as well? Or why would coins go down that get mined majority in other countries? That is a bit odd.
yes in my opinion all altcoins depend on bitcoin because if bitcoin market down all alternate coin goes down . we say bitcoin the mother of cryptocurrency. in future whays heppen we dont know but present time all altcoin depend on bitcoin....
it's true because basically bitcoin is one of the references for altcoins to adjust prices, but not all altcoins refer to bitcoin in the sense that only those connected to bitcoin can be said to be like that. There are many examples of altcoins that don't follow bitcoin like bitcoin cash etc.Don't generalize all altcoins are all bitcoin because some are not.
There is no direct dependence of most altcoins on the state of bitcoin. However, it should be understood that large investors mostly hold bitcoin. Therefore, when the market enters a stage of uncertainty, these investors try to protect themselves by going into dollars. Looking at their example, small altcoin investors also seek to temporarily divest their assets.
There are only several altcoins like BCH, BSV built upon BTC, they are called Bitcoin forks. But even they don’t always follow the Bitcoin movement. On the other hand, you might have noticed that all altcoins follow Bitcoins global trends. It happens because if people see that BTC is falling and a bear market is possible, they get rid of altcoins first, as they are more risky.
So we often observe that when there is a severe crash of BTC, all other coins also crash.
So we often observe that when there is a severe crash of BTC, all other coins also crash.
No I really dont think they have tie The only issue is the pairing that cause problem sometimes and then maybe preferences on which coin to hold when market is capitulating Most people will dump alts first then market crash for btc or any higher coins because they think is safe heaven. Pairing also affect the coin price since most coins if not all have pairings to either eth or btc and once one dumps the other follows except when there is higher buying pressure on either one of the coins
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!
some may and some may not, because as we can see everytime btc price falls, the alts also falling it's price, but Im not disclosing it to my observation, some or very few alts not affected the price when btc drops specially the nft gaming tokens.
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!
Connected in terms of price, I would like to think so especially those with smaller communities because when bitcoin is affected with some news and it crashes or pumps, other coins do follow but not all the time.Is there no independence in the cryptocurrency world?
Thank you!
Then there are times some when bitcoin is going down but some altcoins are reacting opposite which says they aren't dependent on btc.
The value of Bitcoin does have a crucial position in the crypto market, but not all altcoins rely on Bitcoin. According to the trend chart, it can be found that the price of general altcoins will be affected by the price of Bitcoin. When the price of Bitcoin increases, the price of most popular altcoins will also increase, and when it falls, it will also decrease.
Almost all altcoins will at some point present independent movement from bitcoin, the question is if they can maintain this kind of movement and for the most part the answer to that is no, even ethereum which is the second coin in the market has huge problems doing that and if ethereum cannot do it then there is no altcoin that can do it, this means that people that want to earn money need to time the moment they enter in altcoins, as doing it at the wrong time can cost them a fortune.
We could say that EVERY altcoin is dependent on Bitcoin one way or another. That's because Bitcoin is the one cryptocurrency that started it all. Without Bitcoin, none of this would've been possible today. It's the reason why every crypto exchange lists an altcoin with Bitcoin as the main trading pair. Being the reserve cryptocurrency itself, gives it a huge advantage over its competitors. Unless a new cryptocurrency with a new technology superior to Blockchain comes out, I don't see any altcoin becoming independent from Bitcoin anytime soon. Just my thoughts
Yes and that is where most guys in the industry agree upon already. As Bitcoin is so similar to gold it will probably forever remain a kind of reserve currency for all other cryptocurrencies that might be launched in the future. But I would say that crashes in Ethereum could also lead to other coins getting dumped. Ethereum also has a bit of a reserve currency characteristic.
Yeh I think it's absolutely right because I observe market from long time and all time I got that when bitcoin price goes down mean bearish start ethereum also start bearishing his price and when bitcoin price start bullishing mean bull start ethereum also start to bullishing his price so it mean that its fully dependent on bitcoin.
I observe this phenomena not only one time I had observe it too much time
I observe this phenomena not only one time I had observe it too much time
I think all altcoins follow the movement of the bitcoin, because of all cases that occur every time bitcoin experiences a decrease or increase altcoins are always under the control of the bitcoin, and it is very clear that altcoins are very dependent on the bitcoin, and my perception is that the bitcoin is the mother of all altcoins,
Almost all altcoins will at some point present independent movement from bitcoin, the question is if they can maintain this kind of movement and for the most part the answer to that is no, even ethereum which is the second coin in the market has huge problems doing that and if ethereum cannot do it then there is no altcoin that can do it, this means that people that want to earn money need to time the moment they enter in altcoins, as doing it at the wrong time can cost them a fortune.
We could say that EVERY altcoin is dependent on Bitcoin one way or another. That's because Bitcoin is the one cryptocurrency that started it all. Without Bitcoin, none of this would've been possible today. It's the reason why every crypto exchange lists an altcoin with Bitcoin as the main trading pair. Being the reserve cryptocurrency itself, gives it a huge advantage over its competitors. Unless a new cryptocurrency with a new technology superior to Blockchain comes out, I don't see any altcoin becoming independent from Bitcoin anytime soon. Just my thoughts
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