Topic: BTC and altcoins rising and falling together - page 2. (Read 3712 times)
Altcoins are near perfect substitutes of Bitcoin, hence value perceived by the wider economy rises and falls together.
The value of altcoins are directly related to the value of bitcoin. Bitcoin is the heart of the crypto ecosystem and provides blood and oxygen for the various altcoins.
Of course yes. Altcoins price are compared to btc price usually, so they are attached to bitcoin. If 1 altcoin is worth 0.01 bitcoin, then if bitcoin rise, altcoin price rise too. This does not mean it will then stay high, maybe later will drop so it will become 1 altcoin=0.005btc. But in the short time they are often attached.
I find it very strange that most of the altcoins :Litecoin, nmc, nvc etc., are rising and falling the same exact time and rate as BTC this past 2 days when btc fell drastically to $400.
Is there any reason to this?
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