Are all altcoins dependent on Bitcoin? - page 7.

nikita2020

jr. member

Activity: 184

Merit: 1

Quote from: alan228 on July 02, 2021, 05:07:12 AM

Quote from: alan228 on June 10, 2021, 01:15:11 PM

The price of altcoin depends how useful the altcoin is that technology that it offers. That is why it very important to know all the news and what technologies it offers.
https://techbullion.com/cryptoarenas-novel-self-decentralized-exchange-puts-users-first/?utm_source=hootsuite&utm_medium=twitter&utm_term=20ef6c60-7fef-47de-b6e6-71dc89522128&utm_content=cryptoarenasdex&utm_campaign=

It is very important to read the news to check new projects how new and prospective they are.

Now cryptocurrency exchanges continue to be hacked, so security is very important, and regulation is also needed so that the exchange does not have problems with the authorities.

For traders, the most important thing is the safety of their funds, they must be sure that their funds are saved and are safe.

Abiky

legendary

Activity: 3220

Merit: 1363

www.Crypto.Games: Multiple coins, multiple games

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!

Most altcoins are dependent on Bitcoin because it's the one that started it all. But not all of them are this way. Consider how some stablecoins and Ethereum have moved on their own regardless of Bitcoin's price. This shows us that there's some form of independence from Bitcoin (although every single cryptocurrency is based on Bitcoin's blockchain technology). Bitcoin is the first cryptocurrency people discover when they join the crypto/Blockchain bandwagon. It's no wonder since the pioneer cryptocurrency has strong branding. I don't think altcoins will be able to survive on their own without Bitcoin in play. If BTC goes all the way down the drain, so will the rest of the cryptocurrencies on the market. As long as crypto serves its purpose of being decentralized money for the whole world to enjoy, the rest doesn't matter. Just my thoughts Grin

seleme

legendary

Activity: 2772

Merit: 1028

Duelbits.com

There are several correlation charts that show how strong both financial assets connected each other. The main reason why the altcoin market depends on the trending BTC charts is the liquidity on the main trading pairs, you can't sell one altcoin for another one. The middleman is the best valuation tool for finding the perfect price.

Quote from: romero121 on July 02, 2021, 04:19:09 PM

It is true altcoins are dependent on bitcoin. Maybe in the future this can change when the real-time usage varies. As a of now majority of the altcoins are connective to bitcoin. It is true that majority of the altcoins follow the growth pattern of bitcoin.

There are certain altcoins that are completely centralized and it looks like a trusted one, but it can also make an investor suffer. Those centralized cryptocurrencies gets manipulated and such coins won't be varying big even when the market of bitcoin is bearish.

The centralization is the thing we don't wanna see on this sphere but the connections between top and alternative cryptocurrencies makes it easy to manipulate the market. The manipulation level is insane on this finance market compared to stocks or foreign exchange markets. The trusted exchanges can close the shop and run one day without any warning.

romero121

legendary

Activity: 3234

Merit: 1214

Vave.com - Crypto Casino

It is true altcoins are dependent on bitcoin. Maybe in the future this can change when the real-time usage varies. As a of now majority of the altcoins are connective to bitcoin. It is true that majority of the altcoins follow the growth pattern of bitcoin.

There are certain altcoins that are completely centralized and it looks like a trusted one, but it can also make an investor suffer. Those centralized cryptocurrencies gets manipulated and such coins won't be varying big even when the market of bitcoin is bearish.

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: bastian466 on June 29, 2021, 11:11:12 AM

It is said that there is no relationship between altcoins and bitcoin but there is an influence I think everything is interconnected if traders can certainly judge what is happening in the market, what's more, traders who have known cryptocurrencies for a long time will understand it better

The influence is very direct because as we know the most dominant coin in this market is bitcoin and almost everything in this market has a trading pair against bitcoin, now it could be expected that if the price of bitcoin goes down then altcoins could go up but this is not the case because before the price of bitcoin goes down traders get out of their altcoin positions first and only then they get out of their bitcoin positions, which is what causes that altcoins show movements that are so similar to the ones we see in bitcoin.

alan228

jr. member

Activity: 250

Merit: 1

Quote from: nikita2020 on July 01, 2021, 05:23:13 AM

Quote from: alan228 on June 10, 2021, 01:15:11 PM

The price of altcoin depends how useful the altcoin is that technology that it offers. That is why it very important to know all the news and what technologies it offers.
https://techbullion.com/cryptoarenas-novel-self-decentralized-exchange-puts-users-first/?utm_source=hootsuite&utm_medium=twitter&utm_term=20ef6c60-7fef-47de-b6e6-71dc89522128&utm_content=cryptoarenasdex&utm_campaign=

It is very important to read the news to check new projects how new and prospective they are.

For a cryptocurrency exchange, the main thing is its security, and hybrid exchanges are more regulated than DEX, have more liquidity and provide more opportunities for trading.

Now cryptocurrency exchanges continue to be hacked, so security is very important, and regulation is also needed so that the exchange does not have problems with the authorities.

wmaurik

hero member

Activity: 2058

Merit: 710

Quote from: nikita2020 on July 01, 2021, 05:23:13 AM

For a cryptocurrency exchange, the main thing is its security, and hybrid exchanges are more regulated than DEX, have more liquidity and provide more opportunities for trading.

Please mention the hybrid exchanges you know and how they implement super tight security for each of their users, because without giving an example, everyone will be confused about what you are saying.

nikita2020

jr. member

Activity: 184

Merit: 1

Quote from: Iminingpro on June 30, 2021, 10:45:07 AM

Quote from: alan228 on June 10, 2021, 01:15:11 PM

The price of altcoin depends how useful the altcoin is that technology that it offers. That is why it very important to know all the news and what technologies it offers.
https://techbullion.com/cryptoarenas-novel-self-decentralized-exchange-puts-users-first/?utm_source=hootsuite&utm_medium=twitter&utm_term=20ef6c60-7fef-47de-b6e6-71dc89522128&utm_content=cryptoarenasdex&utm_campaign=

It is very important to read the news to check new projects how new and prospective they are.

It is good that there are new hybrid exchanges that provide more opportunities for trading and make trading safer and more profitable.

For a cryptocurrency exchange, the main thing is its security, and hybrid exchanges are more regulated than DEX, have more liquidity and provide more opportunities for trading.

Golftech

hero member

Activity: 2128

Merit: 520

Quote from: ?? on ??

Currently the market cycle is still influenced by bitcoin conditions, you can see for yourself when bitcoin goes down, all altcoins struggle to survive or struggle not to experience too big a decline, I think this condition will continue because bitcoin is the benchmark for the crypto market.

Being the benchmark takes all the spark in the current market, we see that whatever direction bitcoin is heading

alts are following the trend, if not all it's the majorities that continue to backup bitcoin movement, the dominance

still showing and the domino effect still dragging the alt market.

Iminingpro

copper member

Activity: 145

Merit: 1

Quote from: alan228 on June 29, 2021, 10:35:14 AM

Quote from: alan228 on June 10, 2021, 01:15:11 PM

The price of altcoin depends how useful the altcoin is that technology that it offers. That is why it very important to know all the news and what technologies it offers.
https://techbullion.com/cryptoarenas-novel-self-decentralized-exchange-puts-users-first/?utm_source=hootsuite&utm_medium=twitter&utm_term=20ef6c60-7fef-47de-b6e6-71dc89522128&utm_content=cryptoarenasdex&utm_campaign=

It is very important to read the news to check new projects how new and prospective they are.

Now cryptocurrency trading is actively developing, which gives traders more opportunities to trade and earn money.

It is good that there are new hybrid exchanges that provide more opportunities for trading and make trading safer and more profitable.

Sheikh9146

newbie

Activity: 54

Merit: 0

Quote from: Lubang Bawah on June 28, 2021, 02:32:14 AM

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!

Bitcoin was the first, it took about 2 years ago another coin appeared, being first is the most profitable thing because it is always the benchmark. when someone asks about crypto then all they know is bitcoin. all trades make sure they are always paired with bitcoins.

Not all altcoin depend in bitcoin. There are some altcoin have there own strategy. But soon all altcoin will be depend in bitcoin.

Bitcoin is a king of crypto. Since you think a kingdom without a king is useless, you can think that bitcoin is the king and altcoin is the kingdom.

Soon all cryptocurrency/Altcoin will be depend on bitcoin.
Post

bastian466

sr. member

Activity: 1372

Merit: 251

PredX - AI-Powered Prediction Market

It is said that there is no relationship between altcoins and bitcoin but there is an influence I think everything is interconnected if traders can certainly judge what is happening in the market, what's more, traders who have known cryptocurrencies for a long time will understand it better

alan228

jr. member

Activity: 250

Merit: 1

Quote from: i8v8i on June 28, 2021, 10:57:29 AM

Quote from: alan228 on June 10, 2021, 01:15:11 PM

The price of altcoin depends how useful the altcoin is that technology that it offers. That is why it very important to know all the news and what technologies it offers.
https://techbullion.com/cryptoarenas-novel-self-decentralized-exchange-puts-users-first/?utm_source=hootsuite&utm_medium=twitter&utm_term=20ef6c60-7fef-47de-b6e6-71dc89522128&utm_content=cryptoarenasdex&utm_campaign=

It is very important to read the news to check new projects how new and prospective they are.

Due to the development and improvement of cryptocurrency exchanges, trading on exchanges is not so high-risk and more profitable.

Now cryptocurrency trading is actively developing, which gives traders more opportunities to trade and earn money.

goolesby

member

Activity: 574

Merit: 10

Gistcoin

it is undeniable that the BTC coin does have a huge impact on other coins, but not all coins depend on BTC alone, for example, recently the shiba inu coin, which was inspired by the dogecoin meme coin, has skyrocketed to close to 800 percent, or 797.37 percent in just a week. Shiba inu became the most valuable crypto asset in the past week.

Sayeds56

copper member

Activity: 1316

Merit: 715

Eloncoin.org - Mars, here we come!

Quote from: ?? on ??

Quote from: Lubang Bawah on June 28, 2021, 02:32:14 AM

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!

Bitcoin was the first, it took about 2 years ago another coin appeared, being first is the most profitable thing because it is always the benchmark. when someone asks about crypto then all they know is bitcoin. all trades make sure they are always paired with bitcoins.

If you invest in a company and u hold 40-70% (major share holder) of the market will you allow anyone to dictate the market for you. If bitcoin goes down to 0 today, where do you think the trust of everyone be? No one will trust the space again, it will just crash down. As for now bitcoin will still keep on leading until it dominance decline in percentage not the in marketcap over a group period. It's a lot to manage the psychology of the traders,newbie and investors.

Crypto market doesn't work like Stock or commodity Market, its totally different and comparatively very new Market, its market cap is much lower. That is why it is extremely volatile and depends on BTC price which leads the whole crypto space. You said is very rightly that it is more psychological and less realistic but it is what it is. It will change over a period of time when crypto will be adopted on massive scale.

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: haidil on June 25, 2021, 01:48:04 PM

Of course not, because not all coins are linked to btc and there are only a few linked btc pairs on the exchange. the logical reason I've come across is why altcoins go down when bitcoin goes down because some of them stop their investment in altcoins and change them to bitcoin because at that time bitcoin goes down so altcoins can go down like following btc.
this is very reasonable because almost everyone feels that btc is more reliable in terms of long-term investment, therefore when btc experiences a decline they are competing to buy btc

But then do not you think that if the price of bitcoin goes down and those holding altcoins decide to sell precisely for this reason and not for anything that is happening with such altcoin in particular then we can say conclusively that those altcoins are linked to bitcoin even if they do not have a trading pair? Whether we like it or not the dynamics of the market are clear and anyone interested in making money in this market needs to follow them or eventually will pay the consequences and loss a lot of money.

i8v8i

jr. member

Activity: 101

Merit: 1

Quote from: cryptoserega on June 26, 2021, 01:53:53 PM

Quote from: alan228 on June 10, 2021, 01:15:11 PM

The price of altcoin depends how useful the altcoin is that technology that it offers. That is why it very important to know all the news and what technologies it offers.
https://techbullion.com/cryptoarenas-novel-self-decentralized-exchange-puts-users-first/?utm_source=hootsuite&utm_medium=twitter&utm_term=20ef6c60-7fef-47de-b6e6-71dc89522128&utm_content=cryptoarenasdex&utm_campaign=

It is very important to read the news to check new projects how new and prospective they are.

Now cryptocurrency exchanges are actively developing and new opportunities are emerging for traders, making trading more profitable and safe for traders.

Due to the development and improvement of cryptocurrency exchanges, trading on exchanges is not so high-risk and more profitable.

kidbounty

full member

Activity: 1064

Merit: 101

HELENA

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!

there are, for example stablecoins like USDT don't rely on bitcoin because USDT is fiat backed. the price will remain stable even if bitcoin goes up or down. but it is undeniable that the average altcoins are too dependent on bitcoin, as a result when the bitcoin crashes the altcoin market will be very impactful.

slaman29

legendary

Activity: 2674

Merit: 1226

Livecasino, 20% cashback, no fuss payouts.

Quote from: ?? on ??

well, maybe a stable coin is a coin that really has no effect on the up and down movement of the bitcoin price. however, I think if there is a coin that is always growing when the bitcoin price drops, I think it is a very good coin. even in the midst of a bear market, the price can survive. well, such coins are very rare. however, I also conclude that 95% of altcoins are heavily affected by bitcoin price movements.

Ask about Tether though and you'll see all kinds of theories about how USDT markets DO affect the price of Bitcoin. When demand surges, Tether simply prints more money (USDT) because people need it to buy or to short Bitcoin.

And if/when Tether does become stuck in legal complexities (though I think they've survived it so far quite well) then the worry for investors will transfer to selling on BTC.

clarkt

full member

Activity: 658

Merit: 100

All coin are not dependent on bitcoin. Many altcoin are functioning without bitcoin, they got their own blockchain, governance on some of their network are top notch! When we are referring to cryptocurrency market, that is a totally different ball game. Bitcoin is most popular cryptocurrency and whatever happens to bitcoin price tend to affect altcoin as well!

Topic: Are all altcoins dependent on Bitcoin? - page 7. (Read 3909 times)