Are all cryptocurrencies prices bond to eachother?

legendary

Activity: 1288

Merit: 1087

Quote from: bononlines on February 06, 2018, 03:59:36 PM

What about the altcoins or icos, where raised funds based on USD and EUR ? They actually do not have to be related to BTC prices.

once they start trading then they're just another coin in a sea of them. they'll be equally vulnerable to the moves of the bigger coins as stuff that's been on the market for years.

it's foolish to think one coin is somehow special. there are basically two markets - bitcoin and altcoins. it's possible ethereum will make a third market soon but that's how it is. the average trader doesn't know what they're buying or care. they want more money.

bononlines

jr. member

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Keep going. This will happen again :)

What about the altcoins or icos, where raised funds based on USD and EUR ? They actually do not have to be related to BTC prices.

boruto99

newbie

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Because Bitcoin is mother of crptocurrency. we dont care if you have altcoin on your investment. if bitcoin drop so altcoin follow drop of bitcoin..

after the end of bitcoin. bitcoin price will high again. also altcoin will rebound again..

cho99

member

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Merit: 61

Quote from: bononlines on February 06, 2018, 11:50:28 AM

Just wondering if all prices for different cryptocurrencies are bond to each other?

I remember last year, ETH was for around 300$ and BTC was for 3000$, once BTC went up, ETH went up too. BTC went to 14-15K $ and ETH was for 1.4K $ that time, and now again, BTC is for around 6K and ETH is also for 600$ as well.

So what I am seeing is that the prices of other cryptocurrencies are all bond to BTC prices in the market. Is this true?

If yes, why? Arent they different platforms? They are both on blockchain but with different algorithms.

I would be happy to hear your opinions.

Off course every thing is related to bitcoin , the new comers to the market they buy bitcoin or ethereum to be introduced to the exchange platforms before investing in other altcoins so when the demands of bitcoin increase the price go up and automatically altcoins price grows up also , in the case of dump the investors sell their altcoins to get fiat currencies and off course they need to sell to bitcoin and after that they can transfer the money into fiat currencies , so when you find big selling movement the prices go down for bitcoin ethereum and all altcoins , the global market cap decreased more than 50 % also the average of altcoins and bitcoin price and that is because investors are pulling their money out of the market .So every thing is related to each other .

bononlines

jr. member

Activity: 75

Merit: 1

Keep going. This will happen again :)

Just wondering if all prices for different cryptocurrencies are bond to each other?

I remember last year, ETH was for around 300$ and BTC was for 3000$, once BTC went up, ETH went up too. BTC went to 14-15K $ and ETH was for 1.4K $ that time, and now again, BTC is for around 6K and ETH is also for 600$ as well.

So what I am seeing is that the prices of other cryptocurrencies are all bond to BTC prices in the market. Is this true?

If yes, why? Arent they different platforms? They are both on blockchain but with different algorithms.

I would be happy to hear your opinions.

Topic: Are all cryptocurrencies prices bond to eachother? (Read 130 times)