Topic: Bitcoin vs Altcoin; supporting each other? (Read 220 times)
Now the price of altcoins depends greatly on the price of bitcoins so if anyone wants their favorite altcoin to do well in the market then they should support bitcoin as well because with the rise in the price in bitcoin the prices of the altcoins will increase too.
Why do we need to compare the two coins? Why not have altcoin AND bitcoin. These coins are both promising and if you can notice, if one drops, the other coin will also do. So, they are not really competing to each other. But, if the time will come and Bitcoin will lose ita popularity and demand, well, there would be a great chance that etherium would take over.
Now the price of altcoins depends greatly on the price of bitcoins so if anyone wants their favorite altcoin to do well in the market then they should support bitcoin as well because with the rise in the price in bitcoin the prices of the altcoins will increase too.
Birth of bitcoin was a big revolution. Convenience of it's usage ; anonymity of transactions; breaking international boundaries made it popular and attracted crowds.
When demand grew the price started rising with the growth of the demand. As the supply side could not meet the demand pressure resulting in very high price rise.
Seeing profits; gains ; popularity attracted many other people to mine other alternate crypto currency coins which attracted people with lesser resources who were unable to buy bitcoin due to it's high prices. But the alternate currency ICOs were finding it difficult to sell their coins so they started advertising through this platform in the form of signature campaign and other social media like face book ; twitter etc. They started paying some rewards to the persons working for them on social media and wearing their signature.
Seeing this many new people entered in the market and earned good amount of money by supporting ICOs.
Now on getting the money from bounties they as per their primary wish to be owner of bitcoin started selling coins received and investing the money so earned to buy bitcoin and ultimately the price of bitcoin increased. But due to selling pressure by bounty earners on new ICOs the price of those coins falls on the earth.
So we can see that the bitcoin due to which alt coins came into existence, the same altcoins are supporting the growth of bitcoin so I think both are supporting each other.
Above are my views I seek more guidance.
I think yes, both bitcoin and altcoins are part of the cryptocurrency market. When one of them develops, it can promote the development of cryptocurrency markets, which is good for both sides. When demand grew the price started rising with the growth of the demand. As the supply side could not meet the demand pressure resulting in very high price rise.
Seeing profits; gains ; popularity attracted many other people to mine other alternate crypto currency coins which attracted people with lesser resources who were unable to buy bitcoin due to it's high prices. But the alternate currency ICOs were finding it difficult to sell their coins so they started advertising through this platform in the form of signature campaign and other social media like face book ; twitter etc. They started paying some rewards to the persons working for them on social media and wearing their signature.
Seeing this many new people entered in the market and earned good amount of money by supporting ICOs.
Now on getting the money from bounties they as per their primary wish to be owner of bitcoin started selling coins received and investing the money so earned to buy bitcoin and ultimately the price of bitcoin increased. But due to selling pressure by bounty earners on new ICOs the price of those coins falls on the earth.
So we can see that the bitcoin due to which alt coins came into existence, the same altcoins are supporting the growth of bitcoin so I think both are supporting each other.
Above are my views I seek more guidance.
The first and foremost cryptocurrency Bitcoin, paved way for innovation and creation of all the altcoins that exist today and thus have become inseparable entities. Fund raising for projects was shaped up into a new form which is known as the ICO today which has attracted a lot of investors at chances of raising a portfolio growth faster than that of stock market trading. All of this has seen cryptocurrencies stand where it is today, progressing quickly towards newer goals and Bitcoin's creator i.e Satoshi must be accredited for this.
Birth of bitcoin was a big revolution. Convenience of it's usage ; anonymity of transactions; breaking international boundaries made it popular and attracted crowds.
When demand grew the price started rising with the growth of the demand. As the supply side could not meet the demand pressure resulting in very high price rise.
Seeing profits; gains ; popularity attracted many other people to mine other alternate crypto currency coins which attracted people with lesser resources who were unable to buy bitcoin due to it's high prices. But the alternate currency ICOs were finding it difficult to sell their coins so they started advertising through this platform in the form of signature campaign and other social media like face book ; twitter etc. They started paying some rewards to the persons working for them on social media and wearing their signature.
Seeing this many new people entered in the market and earned good amount of money by supporting ICOs.
Now on getting the money from bounties they as per their primary wish to be owner of bitcoin started selling coins received and investing the money so earned to buy bitcoin and ultimately the price of bitcoin increased. But due to selling pressure by bounty earners on new ICOs the price of those coins falls on the earth.
So we can see that the bitcoin due to which alt coins came into existence, the same altcoins are supporting the growth of bitcoin so I think both are supporting each other.
Above are my views I seek more guidance.
I see and read your argument, should the existence of both should be like that. The problem is always evolving everywhere, to lower its competitors, especially now that many new tokens have been created and in search of their consumers to compete in an unhealthy way. When demand grew the price started rising with the growth of the demand. As the supply side could not meet the demand pressure resulting in very high price rise.
Seeing profits; gains ; popularity attracted many other people to mine other alternate crypto currency coins which attracted people with lesser resources who were unable to buy bitcoin due to it's high prices. But the alternate currency ICOs were finding it difficult to sell their coins so they started advertising through this platform in the form of signature campaign and other social media like face book ; twitter etc. They started paying some rewards to the persons working for them on social media and wearing their signature.
Seeing this many new people entered in the market and earned good amount of money by supporting ICOs.
Now on getting the money from bounties they as per their primary wish to be owner of bitcoin started selling coins received and investing the money so earned to buy bitcoin and ultimately the price of bitcoin increased. But due to selling pressure by bounty earners on new ICOs the price of those coins falls on the earth.
So we can see that the bitcoin due to which alt coins came into existence, the same altcoins are supporting the growth of bitcoin so I think both are supporting each other.
Above are my views I seek more guidance.
I don't about supporting each other but you can say that they have a connection and influence in the market. As, one should have noticed when bitcoin either rises or fall quickly altcoin are the worst affected. People tend to move from their altcoin to bitcoin in gain of more profits which further interconnects the rise and fall of altcoins.
Bitcoin affect the altcoin like the people would like to use these all and those who are using bitcoin they are also participating the new ICO and they also investing in the crypto so if the bitcoin price become fall the altcoins buying some time slow with this while sometime the alts price become good many users have shifted to the altcoin as well it is true that both of the crypto have the same usage and these will grow more in the future.
If you look at the charts you will see that each time, when Bitcoin is going down, altcoins are falling as well. The same thing is going on when BTC is rising.
Both are the internet based currencies which is using for online uses and offline too bitcoin and the alternative coins supported each other because when the market is red then both the currencies affected it is true that bitcoin is fully supporting altcoin and when the bitcoin price become fall then the people also lose hope for the other crypto and the panic in the crypto market so i hope that the bitcoin will more stronger in the future.
bitcoin and altcoin have a close relationship because if the bitcoin price decreases it will affect the price of altcoin. if the bitcoin price drops then altcoin will also fall, they are mutual and will not be separated. there will be no stand-alone altcoin, if both experience a price drop then the investor will rush to buy it to trade and invest.
Ethereum is another up coming crypto currency. We all know that Bitcoin is the mother of all crypto currency. But after Bitcoin we all take ethereum as second. Day by day like Bitcoin the price of ethereum is also increasing. Many of the economist already announced that ethereum is like the backup of bitcoin. They thought that if for any reason Bitcoin fails to meet the demand of people then ethereum will meet the blank spot. Day by day llime Bitcoin, ethereum is also becoming famous. To me in future ethereum will also become a new source of crypto currency but it won't take over Bitcoin. Because Bitcoin is in the platform for a long long period of time. But ethereum is almost new to this platform. But I would rather call it as the 2nd best crypto currency.
Bitcoin affect the altcoin like the people would like to use these all and those who are using bitcoin they are also participating the new ICO and they also investing in the crypto so if the bitcoin price become fall the altcoins buying some time slow with this while sometime the alts price become good many users have shifted to the altcoin as well it is true that both of the crypto have the same usage and these will grow more in the future.
Altcoins are like the off spring of bitcoin. When bitcoin was launched and become successful as how the creator of it wanted to be, different alternative cryptos emerges. Many succeeds and on the path of bitcoin while others are created like a scam because after investing on it, some closes and disappear. All its price are based on bitcoin.
Bitcoin affect the altcoin like the people would like to use these all and those who are using bitcoin they are also participating the new ICO and they also investing in the crypto so if the bitcoin price become fall the altcoins buying some time slow with this while sometime the alts price become good many users have shifted to the altcoin as well it is true that both of the crypto have the same usage and these will grow more in the future.
Both are the internet based currencies which is using for online uses and offline too bitcoin and the alternative coins supported each other because when the market is red then both the currencies affected it is true that bitcoin is fully supporting altcoin and when the bitcoin price become fall then the people also lose hope for the other crypto and the panic in the crypto market so i hope that the bitcoin will more stronger in the future.
And that should not be the case.
This iCO's should have been supported until last if the project is real and there is a product.
True we all want bitcoin, it is safer that way than staying with an altcoin so they sell it for good. But how can this projects meet the goals that they want if they are losing investors just because of the dump of the bounty hunters.
Strong hands are needed and not those I have heard "they need to feed their family".
If that is the only purpose then no ICO will be successful unless there is a group of investor that will wait for a long time.
This iCO's should have been supported until last if the project is real and there is a product.
True we all want bitcoin, it is safer that way than staying with an altcoin so they sell it for good. But how can this projects meet the goals that they want if they are losing investors just because of the dump of the bounty hunters.
Strong hands are needed and not those I have heard "they need to feed their family".
If that is the only purpose then no ICO will be successful unless there is a group of investor that will wait for a long time.
I agree with you, i think there are many links between Bitcoin and Alt coin, as you mentioned that as demand grows prices start to rise, with so much demand for Bitcoin if not offset by its products then the price will soar. so I think Bitcoin and Alt coin support each other.
Seeing this many new people entered in the market and earned good amount of money by supporting ICOs.
this is the problem right in the middle of your comment!
and I don't know how, you knowing this already, are using the words "supporting" each other!!!
the problem is that these days all the newcomers are only interested in making money from cryptocurrencies. they see bitcoin and think they have missed out, then they also see the advertisement of all these useless tokens which are promising them big returns so they start pouring their money in their pockets. in the end we end up with a bloated altcoin market which is in a gigantic bubble and its burst is actually taking bitcoin down a little too!
All altcoins want to prove that they're better than bitcoin. Is that supportive? Altcoins are competing to overthrown bitcoin. For bounty hunters / ICO early investors, altcoins are source of earning more bitcoins without the hassle of mining / trading. But of course there's always risks involved, especially when these altcoin's value were just dump to the ground. Just like bitconnect for one. And there are more out there so be cautious.
The bitcoin certainly rules the market and to a large extent determines the prices of the alternative coins.... However the volume of Ethereum in market seems to be unaffected by the crash in bitcoin price. The same goes for litecoin and other profit making coins at the market. So the bitcoin needs the altcoins and the altcoins need the bitcoins for optimal performance on the floor.
I think yes both Bitcoin and altcoin need each other to survive, Bitcoin usually being trade with alt coins, trading is the source of Bitcoin value, a lot of Bitcoin transaction coming from trading, and alt coins also give a lot investors choice and feature to used, so it make people keep on interesting with crypto currencies
As at now the growth of altcoins depends greatly on the growth of bitcoin. If bitcoin goes down, they all do, when bitcoin goes up they all do. Anyone who wishes for their altcoins to grow should also support the growth of bitcoin because that is how altcoins also grow
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