Topic: Bitcoin proved it once again - page 5. (Read 1049 times)
It has always been like this since Bitcoin has become the most dominant cryptocurrency in the market. As long as the dominant cryptocurrency doesn't change, Bitcoin will continue affecting altcoin prices.
Bitcoin has a market dominance of over 60%, this means a change in the price of Bitcoin is significant enough to influence the entire cryptocurrency market, causing the value of altcoins to be somewhat correlated with it.
This of course does not mean every single altcoin would mirror the price changes in Bitcoin, if it was so one would simply buy any altcoin when they expect Bitcoin to pump so as to take profit from it and everyone would be gaining from the market. There is no guarantee on how the market would behave and every coin has to be considered individually if one is looking to invest in them.
This of course does not mean every single altcoin would mirror the price changes in Bitcoin, if it was so one would simply buy any altcoin when they expect Bitcoin to pump so as to take profit from it and everyone would be gaining from the market. There is no guarantee on how the market would behave and every coin has to be considered individually if one is looking to invest in them.
At the time of writing, Bitcoin represents roughly 63% of the crypto market cap. This leads me to believe that it may not be so much that other alt coins depend on bitcoin for price, but more that if something affects Bitcoin price, it then affects majority of the crypto economy.
If some news / trends have a impact on on the player that holds 63% of the market cap, its bound to affect the other smaller players in a similar way.
If some news / trends have a impact on on the player that holds 63% of the market cap, its bound to affect the other smaller players in a similar way.
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.
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.
don't be surprised, altcoin trading is like that. no one can guarantee a high jump over altcoins. then we have to be good at managing assets in altcoins. don't hold it in too long. always sell if you make a profit. do not look at the size of the profits, because it depends on how much to buy with your own funds. because we don't know how long the altcoin hipe will last
Bitcoin will always be the market leader. It is the first, has the highest market cap and it's the most preferred crypto of everyone.
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.
There were instances that the altcoin market don't get into the same action as bitcoin's. And that's what make others think if altcoins and bitcoin is always correlated in prices but just like what you've observed, it's unpredictable. Sometimes it is and sometimes don't.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.
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.
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.
Jump to: