Bitcoin should NOT determine the market - page 12.

Dmitry.Vastov

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Quote from: adamantasaurus on June 03, 2018, 09:06:11 PM

I really really love crypto but I think it is not a good thing that the price of BTC determines what the entire market does. I feel like there should be something done that makes the crypto market more decentralized where the price of BTC doesn't swing the market up and down there should be some sort of better system put in place otherwise we are just creating a system that is just the same as the current fiat system we have where the most "trusted/valuable" asset determines the entire market.

Just some thoughts, what do yall think??

I also loved the bitcoin but you must know that one thing that bitcoin is the largest crypto currency among all other crypto and there are many evidences and statistics that prove this right so no doubt the valuation and the growth and moreover the popularity of bitcoin among all the crypto is more so no doubt the flactuation in the valuation of bitcoin and all other things will govern the statistics and the entire market of the crypto and I think this is not the matter to worry about, this is very natural.

maskeffec

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I think it's not a good thing if the whole market price is influenced by the Bitcoin price, there must be a solution to make the crypto market more decentralized where Bitcoin prices do not swing the market up and down there must be some kind of better system than if we just created a system that is just the same as the current fiat system we have in which the most trusted asset determines the whole market.

syberwolfen

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Quote from: sultanGol on July 30, 2018, 01:23:15 PM

I think it will not change significantly in the near future. This is just the nature of this market. Maybe if Ethereum, or some other coin beat Bitcoin in the market cap, this trend will be over.

Yes bitcoin will continue to decide the fate of other coins as bitcoin is the first cryptocoin and at the same time if a new person hears about crypto the first thing it comes to their mind is bitcoin it's all about polarity and impact bitcoin holds.i don't think things will differ in future.

snaper14

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The dominance of btc currently is very hard to be controlled as it is trade also in futures market as well as with leverage so the money and liquidity always shifts to it as it is more reliable and stable.

sultanGol

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I think it will not change significantly in the near future. This is just the nature of this market. Maybe if Ethereum, or some other coin beat Bitcoin in the market cap, this trend will be over.

DoublerHunter

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We cannot avoid to see that the market is being affected by the trend of bitcoin or the bitcoin itself because bitcoin is the very first cryptocurrency compare to the rest and it is the top or the king of all of the cryptocurrencies and it is the base currency of all of the cryptocurencies so we cannot avoid the possible to get affected by bitcoin.

leostrong.mo

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When people talk about cryptocurrencies, the first reaction is BTC!
BTC is recognized worldwide as a cryptocurrency. Bitcoin has good liquidity and you can sell, extract and even pay for goods or services.
The status of BTC cannot be changed in a short time!

margaret22

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I agree with you, it is not good, that all the coins are keep going to the same direction. However, in the last couple of days, something different has happened, maybe this is the beginning of a new trend

Femhab

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So far BTC still remained the standard of trading in crypto, it will continue to affect the movement of alts since all alts solely trade against BTC.

laryillary

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In fact, the cost of most known coins depends on the BTC. Therefore, it will be possible to talk about restoring the market only after the price of the first crypto currency has stabilized and will begin to grow in the long run

Coinworld98

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Quote from: adamantasaurus on June 03, 2018, 09:06:11 PM

I really really love crypto but I think it is not a good thing that the price of BTC determines what the entire market does. I feel like there should be something done that makes the crypto market more decentralized where the price of BTC doesn't swing the market up and down there should be some sort of better system put in place otherwise we are just creating a system that is just the same as the current fiat system we have where the most "trusted/valuable" asset determines the entire market.

Just some thoughts, what do yall think??

This is quite true. BTC seems to have too much domineering effect on the entire crypto market. It dictates the pace. That is why if anything negative happens to Bitcoin the entire market begins to shake. There should be other counterbalancing coins too to mitigate this.

Snaic

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Quote from: adamantasaurus on June 03, 2018, 09:06:11 PM

I really really love crypto but I think it is not a good thing that the price of BTC determines what the entire market does. I feel like there should be something done that makes the crypto market more decentralized where the price of BTC doesn't swing the market up and down there should be some sort of better system put in place otherwise we are just creating a system that is just the same as the current fiat system we have where the most "trusted/valuable" asset determines the entire market.

Just some thoughts, what do yall think??

Totally agree with you. The current state of the crypto-currency market can not be called optimal, it is difficult to call it even a market. Artificially pumped bitcoin, it took off in December in price, after which it fell by 70 percent in its value and the entire crypto-currency market was completely paralyzed for more than six months. This is clearly not normal. However, I think the situation itself will be further leveled. In all likelihood, the level of bitcoin capitalization will gradually decline and the market will begin to revive.

korkor

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One of the reasons why bitcoin determines the price of other coins is that most exchange platforms accept bitcoin as a means of payment for any coin you are buying. with this, any small increase in the demand on bitcoin, people will prefer to trade their bitcoin than using it to buy altcoin. This also affects the market cap and volume of altcoin.

moirasheeran29

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you have a point there. but the reality is we can't change that because of bitcoin's dominance in the market. And most altcoins are just being used to get bitcoins and just getting dumped and dumped since there is no other use for them

nazarovv

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This will be good if this can happen but you can't blame bitcoin. This can only change if bitcoin loses its dominance in the cryptoworld and for altcoins to have more use than being used to get bitcoins.

bitcoinking11

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Whether you like it or not, bitcoin has been dominating the market and it is determining the price of other altcoins too. When the price of bitcoin increases or decreases, it affects the price of other altcoins.

LenaPetrova

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Actually bitcoin is the king crypto and the most popular one so it is obvious that it will have a imfluence over the market. People judge the whole market by bitcoin solely which is definitely not fare but there is nothing to do.

Virtual miner

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See there's a very simple answer to your problem. The fact is whenever you ask people about crypto, more than 50% of them will associate crypto with the bitcoin. This is because Bitcoin is the most predominant of all the coins in the crypto space. It has that king kinda aura developed around itself. Bitcoin has been ruling the crypto market since its very inception and there has been no other crypto coin that could replace this position of bitcoin. Almost all the members on this forum might be holding a few bitcoins in their investment portfolio and the proportion of the other coins varies significantly. So according to me that time is far when bitcoin will become less significant in determining the prices in the crypto market. And what I think is there is nothing wrong in this kind of monopoly position held by the bitcoin. Let's see what others have to say on this!

BarryBomb

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Quote from: adamantasaurus on June 03, 2018, 09:06:11 PM

I really really love crypto but I think it is not a good thing that the price of BTC determines what the entire market does. I feel like there should be something done that makes the crypto market more decentralized where the price of BTC doesn't swing the market up and down there should be some sort of better system put in place otherwise we are just creating a system that is just the same as the current fiat system we have where the most "trusted/valuable" asset determines the entire market.

Just some thoughts, what do yall think??

Most pairs for altcoins are denominated in either BTC or ETH so it is hard for them two not to control the market as there is no direct liquidity to fiat

sikami

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Market allocation is a necessity, bitcoin can mark the market price means that bitcoin is focused by the individual or group of people and it will break bitcoin users and I think bitcoin users and bitcoin hierarchies The bitcoin community will grow and thrive in the community

Topic: Bitcoin should NOT determine the market - page 12. (Read 2990 times)