Bitcoin proved it once again - page 2.

wxa7115

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Bitcoin is GOD

Quote from: manfredmann on December 20, 2020, 05:03:21 PM

Bitcoin now has break the record of 2017 which only at 20K$ per btc compared to present market which recorded already at 23K$ and still counting. I am guessing that it could stretch for more like up to 25K$ and it still possible to go beyond that price. Well, that is the good thing in their wherein a lot of people had been interested in bitcoin lately and that is why it added to the bullish trend for bitcoin.

And just today that is exactly what has happened, bitcoin has surpassed the 25k level and with that price level out of the way bitcoin enthusiasts are already eyeing the 30k level, can we reach that level before the end of the year? It will be difficult but if there is an asset that can pull of that kind of growth is bitcoin.

What I wonder is what will be the limits of the current movement, some people argue this is similar to what we saw in 2017 but others argue this is just the beginning and in fact what we are seeing resembles what we saw at the end of 2016 and if they are right then the year of 2021 is going to be amazing for the market of cryptocurrencies.

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Quote from: Wysi on December 10, 2020, 12:57:17 PM

Sometimes we don't see pump in the value of altcoins when Bitcoin surges but whenever there is a adrop in the value of Bitcoin it definitely causes chaos to altcoin market.

The increase in bitcoin price does not always make the altcoin price go up, because the increase in altcoin price is also based on the dominant chart of bitcoin at that time. if the dominant bitcoin chart goes up, the altcoin price will go down and if the dominant bitcoin falls, the altcoin price will go up.

manfredmann

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Bitcoin now has break the record of 2017 which only at 20K$ per btc compared to present market which recorded already at 23K$ and still counting. I am guessing that it could stretch for more like up to 25K$ and it still possible to go beyond that price. Well, that is the good thing in their wherein a lot of people had been interested in bitcoin lately and that is why it added to the bullish trend for bitcoin.

Traderbtcc

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Times without numbers bitcoin has proved to be the best and also the king of all crypto currency, i do see alot people saying bitcoin price doesn't have an effect on the crypto market, but to me they are totally wrong cause whenever bitcoin dumps altcoins just follow and dump massively Cheesy

, it pumps they still dump Cheesy

, I believe every crypto trader normally check the price of bitcoin before buying any altcoin, bitcoin is undoubtedly the leader of the crypto market.

angrynerd88

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Exactly, larger part of altcoins is combined with bitcoin. Clearly, bitcoin is the collecting adhere of all crypto coins. Individuals truly do not get it that altcoin showcase is more unstable than bitcoin, and they think that they can make speedy and enormous cash in altcoin, Of course it's genuine, there happens pump & dump strategy in altcoin. But in the event that you're not those careful, chances are you're reaching to lose your cash exceptionally quick as well.

wxa7115

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Bitcoin is GOD

Quote from: Wysi on December 10, 2020, 12:57:17 PM

Bitcoin has proved it once again that it's the key player in the world of crypto and prices of altcoins depends of bitcoin, we witnessed it yesterday wherein bitcoin's value dropped which caused huge fluctuations in the value of altcoins and even drove altcoins to red zone but when Bitcoin quickly regained the value he altcoin market got steady.

Sometimes we don't see pump in the value of altcoins when Bitcoin surges but whenever there is a adrop in the value of Bitcoin it definitely causes chaos to altcoin market.

I do not understand, why bitcoin needs to prove anything? Bitcoin has been the most dominant coin in this market from the very beginning, if any coin wants to show they can move independently from bitcoin then it is up to them to prove that, because I'm pretty sure that we can take any coin that has a long history of being around the market and that has a decent volume and we will find that there is a very high correlation with bitcoin.

Proving that such coin depends almost entirely on the bitcoin movements in order to move itself, and the only way to do something like that will be to improve their technology to the point that they no longer resemble bitcoin anymore, something that probably never going to happen.

fauzan123

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Quote from: oktana on December 11, 2020, 11:20:48 AM

Quote from: Wysi on December 10, 2020, 12:57:17 PM

Bitcoin has proved it once again that it's the key player in the world of crypto and prices of altcoins depends of bitcoin, we witnessed it yesterday wherein bitcoin's value dropped which caused huge fluctuations in the value of altcoins and even drove altcoins to red zone but when Bitcoin quickly regained the value he altcoin market got steady.

Bitcoin in a way actually has control over altcoins but not all altcoins. If you notice, you'd see that some altcoins seem to maintain their balance or even go more green when bitcoin slides into a depression.

Bitcoin is the same as USD, as a major trading pair. So that is why the impact of bitcoin prices will also have an impact on altcoins, of course this is also related to each other even though investors are still invested, but the up and down movement of prices for altcoins must have an impact.

jaberwock

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It seems like you have not noticed that there are so many altcoins in the cryptocurrency market that doesn’t correlate with bitcoin. The ones that are even correlating with Bitcoin are not much, it’s just Ethereum, Bitcoin Cash, stellar, and a few of these top altcoins, they are the ones that usually follows Bitcoin like 90% of the times that Bitcoin makes a move; if it goes up they will go with it, and when it goes down they will also follow it.

Others are just going their own ways and are not being influenced by any movement that bitcoins takes. I have seen coins that will go up whether Bitcoin is going down or up, they will continue going up, they just don’t have anything to do with BTC.

oprahwindfury

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It's the example accessible right now as the expense is going sideways for a significant long time, bitcoin worth will augment after some time that obviously starting at now comes to $20k yet the interest is lacking to break the divider. Disregarding the way that it falls underneath $18k, bitcoin will recover to $19k over the long haul, it basically time matters because bitcoin can show up at another ATH in 2021 and we would incline toward not to miss it by selling bitcoin at this worth reach.

CODE200

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Quote from: Wysi on December 10, 2020, 12:57:17 PM

Bitcoin has proved it once again that it's the key player in the world of crypto and prices of altcoins depends of bitcoin, we witnessed it yesterday wherein bitcoin's value dropped which caused huge fluctuations in the value of altcoins and even drove altcoins to red zone but when Bitcoin quickly regained the value he altcoin market got steady.

Simply shows bias to how I vew your perspective regarding the market price of Bitcoin and Altcoins. In my opinion, there's no existing correlation with regards to their market value simply because there are times wherein Bitcoin is having a price increase, while Altcoins are not having any. Times wherein both market prices are falling, and times wherein dump occurs to altcoin market alone. Thus, this breaks the assumption that these two subjects are connected with one another. Fluctuations are just normal and is something innate in this technology probably because of the characteristics this technology is having. If you will check the charts on the previous market price behaviors, you would probably understand my take on this topic. Patterns are having no existence in this technology especially regarding their market prices.

ethereumhunter

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Quote from: Pamadar on December 11, 2020, 05:31:04 AM

If you do believe that it will pumped back again.

Buying from this area might be a good then hold and wait for the value to rise back and bring you a good compensation, most of the
time it's your own assessment that will gives you the hint whatever position to take. Bitcoin influenced the market and still showing that
with this current downfall.

I believe that the bitcoin price will get pumped again soon.

I already buy bitcoin below the current price, and I still wait for more, but if the trend is going down again, I will buy more if necessary. I want to buy bitcoin, especially if the price can dump so hard Grin

The market signal shows that bitcoin has good moves right now, but we need to be careful because no guarantee to see the price can increase above.

Noctis Connor

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Quote from: Wysi on December 10, 2020, 12:57:17 PM

Bitcoin has proved it once again that it's the key player in the world of crypto and prices of altcoins depends of bitcoin, we witnessed it yesterday wherein bitcoin's value dropped which caused huge fluctuations in the value of altcoins and even drove altcoins to red zone but when Bitcoin quickly regained the value he altcoin market got steady.

Sometimes we don't see pump in the value of altcoins when Bitcoin surges but whenever there is a adrop in the value of Bitcoin it definitely causes chaos to altcoin market.

You can't compare both because they are separate market which bitcoin has its own per to per and when it comes to altcoins maybe it just a coincidence that the volume of bitcoin has drop not unlike bitcoin it can regain its own and be at the higher price again because their are people are who are buying and selling they thinking that making some of profit that came from bitcoin are going to use it in altcoins, Well pumping bitcoin doesn't affect those altcoins which people have their own decision which what they are going to make.

MCobian

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Of course Bitcoin movements can affect the price of altcoins, because Bitcoin dominates the crypto market by up to 62%.
So we have to be careful when trading with altcoins, don't just analyze the movement of the altcoins that we are going to buy.
But do an analysis of the price of Bitcoin too, that way the safer the decisions we will make. After all Bitcoin is an important
key in the world of cryptocurrency.

dimonstration

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Quote from: minhkhoa on December 11, 2020, 04:08:05 PM

Bitcoin's bullish and bearish wait is really dire for the crypto market as a whole because the king has shown to all of his people the influence in value and importance. There is also a limitation of the crypto market. Because it all depends on Bitcoin, the Altcoins lose their discretion. Some of my Altcoins have dropped dramatically.

The good thing about crypto is that we have option of trading them both that we can still earn since when one drops the others might have some pump. Opportunity is always visible and Being able to monitor the market is a plus too for traders since they can get the right time to buy at low when the chart seems to go higher. Unlike in 2017 that both altcoins and BTC pump, altcoins may take time to create their hype again after DeFi.

pixie85

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It's a well known fact that altcoins follow Bitcoin and the weakest altcoins drop the most when Bitcoin does it.

People choose altcoins over Bitcoin usually because they think they can't afford a full bitcoin so there's no reason to hold it, which is stupid, or because they are expecting much greater volatility.

fishbonez11

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When trading altcoins, I always monitor the Bitcoin chart. Altcoins are dependent on Bitcoins price, a sudden pump means a suddend pump for altcoin also and a sudden dump means a sudden dump for altcoins. Altcoins are controlled by whales and they just follow the Bitcoins direction. In some cases, altcoin make their own move when something is to happen or a special event will happen. But most of the time, Bitcoin takes the lead.

jahepahit

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It's a usual thing that personally am used ot it. Bitcoin has a dominance of over 60% in total market cap and this means alot. Alts will definetely bow to its actions everytime. This will continue to happen untill if possible the dominance is reduced by more than half which is not feasible for now.

minhkhoa

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Bitcoin's bullish and bearish wait is really dire for the crypto market as a whole because the king has shown to all of his people the influence in value and importance. There is also a limitation of the crypto market. Because it all depends on Bitcoin, the Altcoins lose their discretion. Some of my Altcoins have dropped dramatically.

kawetsriyanto

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Quote from: Wysi on December 10, 2020, 12:57:17 PM

Sometimes we don't see pump in the value of altcoins when Bitcoin surges but whenever there is a adrop in the value of Bitcoin it definitely causes chaos to altcoin market.

Yep, it is the fact that most altcoins depend on Bitcoin price. When the Bitcoin price is decreasing, we will see that the prices of almost all altcoins begin to drop as well. Also when the price of Bitcoin is increasing, the prices of many altcoins start to increase gradually. It clearly shows if Bitcoin can determine the prices of many altcoins, except the price of stable coins like USDT. Yeah, this proves that Bitcoin is the king of crypto coins and it is the most influential coin till now.

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Quote from: Wysi on December 10, 2020, 12:57:17 PM

Bitcoin has proved it once again that it's the key player in the world of crypto and prices of altcoins depends of bitcoin, we witnessed it yesterday wherein bitcoin's value dropped which caused huge fluctuations in the value of altcoins and even drove altcoins to red zone but when Bitcoin quickly regained the value he altcoin market got steady.

Bitcoin in a way actually has control over altcoins but not all altcoins. If you notice, you'd see that some altcoins seem to maintain their balance or even go more green when bitcoin slides into a depression.

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