Are all altcoins dependent on Bitcoin? - page 5.

Abiky

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Quote from: South Park on July 15, 2021, 11:10:47 AM

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 Grin

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Quote from: Sayeds56 on July 14, 2021, 09:22:25 PM

Quote from: tabas on June 08, 2021, 01:36:02 PM

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.

I think all altcoins are Bitcoin dependent with no exception even Ethereum follows Bitcoin trend but when Bitcoin Price goes up, alts fall in alts/Bitcoin pairs and increase in Alts/USDT pairs. The real pump comes in alts when BTC Price is stable and its Dominance Index starts falling. Bitcoin Dominance Index plays very important role on behavior of Alts market.

Yes you're right. Bitcoin dominance plays an important and influential role in the crypto market. that's why all altcoins will rely heavily on bitcoin in their development. the market wouldn't be so big today without the intervention of bitcoin. just look at the bullrun always starts from bitcoin, and vice versa.

South Park

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Quote from: Luffygroove on July 11, 2021, 09:56:46 PM

I don't think it's built upon the foundation of BTC. BTC is the standard because it's the first crypto ever built, it's the longest and most popular crypto, and most general people enter the crypto world because they know BTC first. So it's common sense if its price affecting Alts crypto. The logic of it, that whales moving their fund whenever BTC crashes and buy it, so Altcoins will suffer from selling. However, I saw many Altcoins unaffected by BTC price and soar high because of its own fundamental and support from its community.

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.

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Quote

Is there no independence in the cryptocurrency world?

Altcoins are dependent on bitcoin, with the exception of some exceptional cases where there is a macro crash at a certain point in time. Doge and Elon went up twice - while BTC went down at that time. but all will not escape the position and rope of bitcoin. That is all

Teknisi88

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Quote from: KingsDen on June 08, 2021, 04:54:52 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!

According to what I've seen it looks like altcoins depend on bitcoin.
Most Altcoins in circulation are still designed based on the framework found in Bitcoin.
In the investment field, both have different prices, Bitcoin prices are much more expensive when compared to Altcoins.
When Bitcoin experienced an increase, Altcoins also felt the positive impact, where investors made this international payment instrument as an investment alternative.

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I don't think at this time, the presence of fixed coin such as USDT, USDC and so on makes bitcoin power continue to decline, even the daily transaction volume of bitcoin is under fixed coin and this is good because it reduces dependence on bitcoin.

I don't think that stablecoins take the power away from Bitcoin. A stablecoin is essentially fiat currency in crypto format. And unlike the case with CBDCs, these stablecoins are issued by various cryptocurrency exchanges (central banks in case of CBDCs). No one invests in stablecoins, because the potential returns are zero. If stablecoins pose challenge to anyone, then it is for the fiat currencies. Due to the way they are designed, stablecoins can't offer any competition for proper cryptocurrencies such as Bitcoin, Ethereum, Cardano or Binance Coin.

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Quote from: Sayeds56 on July 14, 2021, 09:22:25 PM

Quote from: tabas on June 08, 2021, 01:36:02 PM

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.

I think all altcoins are Bitcoin dependent with no exception even Ethereum follows Bitcoin trend but when Bitcoin Price goes up, alts fall in alts/Bitcoin pairs and increase in Alts/USDT pairs. The real pump comes in alts when BTC Price is stable and its Dominance Index starts falling. Bitcoin Dominance Index plays very important role on behavior of Alts market.

we can see when this year's bullrun occurs, where the price increase begins with bitcoin, and behind it is followed by altcoins with different increases, until that time there must be one altcoin that skyrocketed fantastically, but we must be careful in that game, because will resell it suddenly, and ends with a lot of people smiling and a lot of people crying

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Quote from: tabas on June 08, 2021, 01:36:02 PM

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.

I think all altcoins are Bitcoin dependent with no exception even Ethereum follows Bitcoin trend but when Bitcoin Price goes up, alts fall in alts/Bitcoin pairs and increase in Alts/USDT pairs. The real pump comes in alts when BTC Price is stable and its Dominance Index starts falling. Bitcoin Dominance Index plays very important role on behavior of Alts market.

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Quote from: Liamttw on July 11, 2021, 09:39:18 PM

The market volatility of altcoins tends to follow Bitcoin. When the price of Bitcoin rises, the price of most altcoins will also show an upward trend, and when the price of Bitcoin falls, the altcoins will also fall. Bitcoin is the mainstream currency among cryptocurrencies, and its price fluctuations have a certain impact on the price of altcoins.

Unlike the case with Bitcoin, the altcoin prices are not normally denominated in terms of fiat. They are normally shown in BTC, or in Ethereum (especially for the ERC-20 tokens). So the price fluctuations for alts are normally measured in terms of BTC or ETH. If the exchange rate against BTC remains stable, then in normal circumstances the alt price will go down against fiat when such a movement occurs for Bitcoin. More than 10 years have passed since the first altcoin was mined. And unfortunately till now, I haven't come across an altcoin which can exist without Bitcoin.

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Quote from: KingsDen on June 08, 2021, 04:54:52 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!

Well its just how the market works, bitcoin always have a huge affection towards entire market of cryptocurrency. But sometimes there is a coin that not affected by bitcoin price and it used to be seen when the market in bear phase which bitcoin price seems to stuck cause the big correction after the huge pump. For example LINK which grow when market seems not really good i also see the same move on UBT which is have rank 500 and able to climb to rank 76. Its true that bitcoin affect all the coins but that just how the market works even market stock also have bullish market and bear market seasons which i think its not a weird thing.

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I don't think it's built upon the foundation of BTC. BTC is the standard because it's the first crypto ever built, it's the longest and most popular crypto, and most general people enter the crypto world because they know BTC first. So it's common sense if its price affecting Alts crypto. The logic of it, that whales moving their fund whenever BTC crashes and buy it, so Altcoins will suffer from selling. However, I saw many Altcoins unaffected by BTC price and soar high because of its own fundamental and support from its community.

Liamttw

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The market volatility of altcoins tends to follow Bitcoin. When the price of Bitcoin rises, the price of most altcoins will also show an upward trend, and when the price of Bitcoin falls, the altcoins will also fall. Bitcoin is the mainstream currency among cryptocurrencies, and its price fluctuations have a certain impact on the price of altcoins.

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BTC is the supreme coin or parent coin in crypto. So indeed all movements of BTC up or down will be in the spotlight for investors. I think altcoins are not dependent on BTC because some altcoins can be stable when the price of BTC is collapsing. That means that altcoins are not dependent on BTC. it's just that the price of BTC fell into the spotlight and made many people panic so they panicked to sell. That's what makes a lot of altcoins also go down and the market becomes chaotic.

South Park

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Quote from: devil2man on July 09, 2021, 03:54:56 AM

Unfortunately it is the sad current truth that almost all altcoins with very few exceptions follow the bitcoin market trend if the bitcoin goes up they too go up if the bitcoin goes down they also go down they were created as the bad copy of bitcoin, but I am confident that this situation can change and that the value of each altcoin will be given only by its potential and no longer necessarily follow the trail of bitcoin

While it is natural that the projects that are not really that good have problems moving independently form bitcoin at the same time even the projects that are any good are going to have problems with that, after all bitcoin is by far the most dominant coin in the market, and it is believed that the market dominance is even higher than what the stats show, so with this in mind even good coins have problems moving independently from bitcoin simply because bitcoin is too big, and if it moves they move with it whether people like this or not.

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Quote from: devil2man on July 09, 2021, 03:54:56 AM

Unfortunately it is the sad current truth that almost all altcoins with very few exceptions follow the bitcoin market trend if the bitcoin goes up they too go up if the bitcoin goes down they also go down they were created as the bad copy of bitcoin, but I am confident that this situation can change and that the value of each altcoin will be given only by its potential and no longer necessarily follow the trail of bitcoin

I think the strong dependency of alt coins on the bitcoin market comes from the close interaction from the traders. Most investors and traders who hold alt coins also own bitcoins. That means if we are selling bitcoins we will likely also sell our alt coins. It is human nature to be afraid, so if we are afraid to lose money in bitcoins we are also afraid to lose money with alt coins. It is very unlikely that we are selling bitcoins and put all the money in alt coins during a downward trend.

Both still working alongside and there's a big chance that in each market movement for bitcoin it

will affects the sentiments of alts, if fear is being felt around bitcoin then expect that the same thing

will happen to alt community, as like what you mentioned most bitcoin investors are also alts coin

investors.

devil2man

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Unfortunately it is the sad current truth that almost all altcoins with very few exceptions follow the bitcoin market trend if the bitcoin goes up they too go up if the bitcoin goes down they also go down they were created as the bad copy of bitcoin, but I am confident that this situation can change and that the value of each altcoin will be given only by its potential and no longer necessarily follow the trail of bitcoin

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Quote from: Mahanton on July 06, 2021, 06:26:35 PM

Quote from: tabas on July 06, 2021, 06:15:43 PM

Quote from: leetcoiner on July 06, 2021, 02:48:28 PM

Alas, this is so, the entire altcoin market is inevitably tied to the price of bitcoin.
Thus, for the normal functioning of the altcoin market, it is necessary for bitcoin to stand in place or grow slowly.

The growth slowly by bitcoin is there and altcoins are reliant to bitcoin. That's no question because most pairs are with bitcoin although some dexes provide liquidity even without the pairing of bitcoin still, that's going to the market of bitcoin when most traders are doing it to hold as much as bitcoin as they want and sell it for bitcoin.

Most of them do really go along with bitcoins trend specially if its on deep reds then you can really see on how the market reacts. People or investors are pulling off their funds
as they do really have those kind of thoughts where the market would go down even more deeper which would cause for bitcoin to go down and thats already a casual
impression or behavior of the market but there are instances where alts do go into the opposite way but just really for temporary and when bitcoin starts to
show up some green candles then thats the time where everything do goes back to much better market situation.

Yes, there are times that alts don't go the same as bitcoin. We see that many times and you're lucky if the coins you're holding aren't going with bitcoin's lead through correction.
But if that happened, it's not going to take any longer because just after a few days, it will also be doing the same as bitcoin's.

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Quote from: TOM Bb on July 07, 2021, 08:19:52 PM

Although DeFi and mortgage-related cryptocurrency market performance is very strong. But I think Bitcoin is the king. It dominates the entire cryptocurrency market.

Yes, and it has happened a long time ago so that until now it is still very worthy to be called the king of Bitcoin, because the dominance of Bitcoin has not been able to be broken by the Altcoins that already exist in the crypto space.

ARTURVH

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Bitcoin has the highest value in the currency market, and it is responsible for the volatility of other altcoins. Even if more altcoins emerge in the future, they will not be able to affect the dominance of Bitcoin.

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Many altcoins now rely on Bitcoin because they are created based on Bitcoin's blockchain technology. At present, Bitcoin is still the dominant player in the encryption field. More than ten years have changed the size of Bitcoin. The consensus will naturally be stronger than other altcoins. This leads to when the market is bad, people will sell their altcoins due to FUD, and then use the money to buy bitcoins. This is Bitcoin’s blood-sucking reaction is because everyone recognizes Bitcoin most as it is like gold. In troubled times, when legal currency depreciates, people will only hoard gold, and no one will guard the legal currency in their hands. It is the same reason.

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