BTC price is much more important than USD price

nutriagrigia

sr. member

Activity: 1270

Merit: 254

Oikos.cash | Decentralized Finance on Tron

Quote from: asder250 on May 24, 2019, 03:54:28 AM

And many altcoin holders do not know it, they see only profits in USD but they are loosing potentional profit in BTC.

For example I bought ICON for 0.3$ per token and now it is around 0.4$ per token. But Bitcoin growth in this time from 3500$ to 8000$. Cry

People trading to the dollar are professional traders who don't care what kind of asset to trade. People who trade for bitcoin are crypto enthusiasts

niisarearning

sr. member

Activity: 910

Merit: 252

Quote from: hatshepsut93 on May 16, 2019, 03:51:48 AM

When people discuss crypto prices, they always do so in relation to the US dollar, however this should only be correct when discussing Bitcoin - for alts the more important metric is their price in BTC.
Why? Because it indicates their performance relative to Bitcoin, so if Bitcoin rises and alts rise too, the first thing that you have to look at is their price change in BTC - when it's negative, it means that BTC outperforms them, and the opposite if it's positive.
Bitcoin is often called the king of crypto, and rightfully so - it's more stable, more safe, has higher volumes than any other coins, so when you invest in alts, you absolutely want them to outperform BTC, otherwise you are taking unjustifiable risks and get lower profits.

I am not only tradign with bitcoin pair also ethereum . I should say ethereum is also most powerful platform like bitcoin . I always calculate profit or loss based on my bitcoin and ethereum investment never did with the comparison with USD.

asder250

full member

Activity: 708

Merit: 103

Empowering crypto w/ sustainable energy

And many altcoin holders do not know it, they see only profits in USD but they are loosing potentional profit in BTC.

For example I bought ICON for 0.3$ per token and now it is around 0.4$ per token. But Bitcoin growth in this time from 3500$ to 8000$. Cry

Dr.Sponge

member

Activity: 616

Merit: 10

Of course, definitely. usd price would be great enough to help you to find the value of bitcoin, but considering that trading with the usd to bitcoin kinda risky because it would make easier people to dump and pump bitcoin.

Cacingkemi

hero member

Activity: 1484

Merit: 516

BTC is not only more important than USD but more important than all exchange objects and stocks company, BTC prices are very developed from the year of manufacture we all know how much the price first. So IMO BTC is more important than all the object exchanges in this world.

levvv

member

Activity: 532

Merit: 17

Quote from: hatshepsut93 on May 16, 2019, 03:51:48 AM

When people discuss crypto prices, they always do so in relation to the US dollar, however this should only be correct when discussing Bitcoin - for alts the more important metric is their price in BTC.
Why? Because it indicates their performance relative to Bitcoin, so if Bitcoin rises and alts rise too, the first thing that you have to look at is their price change in BTC - when it's negative, it means that BTC outperforms them, and the opposite if it's positive.
Bitcoin is often called the king of crypto, and rightfully so - it's more stable, more safe, has higher volumes than any other coins, so when you invest in alts, you absolutely want them to outperform BTC, otherwise you are taking unjustifiable risks and get lower profits.

Indeed it is important, but most peoples in crypto sphere are often to see coin paired with usd price.
For USDT trader, im very sure most of their time are comparing bitcoin and altcoins with the USD metric.

hatshepsut93

legendary

Activity: 2954

Merit: 2145

Quote from: anume123 on May 18, 2019, 05:44:55 AM

You can't compare cryptocurrency coins from real money. Because there's will be a huge problem if your cents moves to its price from high to low like btc its very hard to calculate those USD.

The thing is, when Bitcoin's price in USD changes, all altcoins will change by similar percentage, all the time - this is how tightly altcoin markets are coupled with Bitcoin markets. Because of this BTC price of an altcoin is a great indicator of its relative performance - and altcoins are supposed to outperform BTC, otherwise you are risking your money only to lose opportunity to get more on a safer bet.

starblocks

hero member

Activity: 1344

Merit: 502

You are correct in stating the value of an asset in satoshi's can be more important than the price in USD because the latter is often quoted when referring to an assets market value and this can skew the profit and loss calculations relevant to its peg which for most alternatives is typically Bitcoin or Ethereum

Brainnin

jr. member

Activity: 170

Merit: 1

Btc price determine the value in USDT so Btc price is very much important to consider first, when btc rise, altcoins fall, when btc falls or stable at a particular price then altcoins pumps, so BTC price has a lot to do

fosco333

full member

Activity: 1260

Merit: 100

Quote from: hatshepsut93 on May 16, 2019, 03:51:48 AM

When people discuss crypto prices, they always do so in relation to the US dollar, however this should only be correct when discussing Bitcoin - for alts the more important metric is their price in BTC.
Why? Because it indicates their performance relative to Bitcoin, so if Bitcoin rises and alts rise too, the first thing that you have to look at is their price change in BTC - when it's negative, it means that BTC outperforms them, and the opposite if it's positive.
Bitcoin is often called the king of crypto, and rightfully so - it's more stable, more safe, has higher volumes than any other coins, so when you invest in alts, you absolutely want them to outperform BTC, otherwise you are taking unjustifiable risks and get lower profits.

Well, there are many traders that using altcoins - USDT pair to trading in several exchanges.
And sometimes investors want to investing their fiat money (USD/EUR/etc), to buying some coins.
That's why we usually relating the altcoins price to USD price.

anume123

full member

Activity: 700

Merit: 100

Proof-of-Stake Blockchain Network

You can't compare cryptocurrency coins from real money. Because there's will be a huge problem if your cents moves to its price from high to low like btc its very hard to calculate those USD.

efxtrader

full member

Activity: 924

Merit: 100

GoMeat - Digitalizing Meat Stores - ICO

Quote from: guoyu78 on May 18, 2019, 04:41:19 AM

Quote from: Herbert2020 on May 16, 2019, 04:09:02 AM

it is coinmarketcap.com's fault because all the newbies check that website and the default value is in USD so these newbies who don't even trade, think their bags of altcoins are increasing in value whereas in reality they have lost money because initially they bought those altcoins with their precious bitcoin so for example if a newbie had 0.1BTC worth $300 and bought an altcion with that, the said altcoin is worth higher in USD but if he converts it back to get his bitcoin back he will only get 0.01-0.02BTC and that is currently worth $80-$160 so he is in a huge loss.

Not just thins but there is more to the drama. The rise in the value of ETH they hodl might not be a real rise in the value of ETH but a fall in the value of USD. The economic activity that is the demand and supply might still be in equilibrium but ETH might be gaining crazy weight and this would mean that holding the assumption of citrus Paribas, it would be a reduction in the value of Bitcoin that would look ETH over-weighed.

Agree, ethereum price rising recently because bitcoin price rising but againts bitcoin, ethereum still decline. Most investor always looking on USD price because its easier to recognize but the real investment is on bitcoin price because bitcoin is main cryptocurrency in market

guoyu78

hero member

Activity: 1190

Merit: 541

Quote from: Herbert2020 on May 16, 2019, 04:09:02 AM

it is coinmarketcap.com's fault because all the newbies check that website and the default value is in USD so these newbies who don't even trade, think their bags of altcoins are increasing in value whereas in reality they have lost money because initially they bought those altcoins with their precious bitcoin so for example if a newbie had 0.1BTC worth $300 and bought an altcion with that, the said altcoin is worth higher in USD but if he converts it back to get his bitcoin back he will only get 0.01-0.02BTC and that is currently worth $80-$160 so he is in a huge loss.

Not just thins but there is more to the drama. The rise in the value of ETH they hodl might not be a real rise in the value of ETH but a fall in the value of USD. The economic activity that is the demand and supply might still be in equilibrium but ETH might be gaining crazy weight and this would mean that holding the assumption of citrus Paribas, it would be a reduction in the value of Bitcoin that would look ETH over-weighed.

veraro

full member

Activity: 966

Merit: 100

Harmony for One and All

I think both BTC and USD price are important. When it discusses about crypto and altcoins it probably more right to use BTC price. But the price of BTC we count in USD. When we inside crypto market have deal with crypto it is ok to count in BTC but when we withdraw crypto in cash we make it in USD. So both BTC and USD price should be used in same time.

neonshium

hero member

Activity: 1134

Merit: 515

Quote from: Ghebung Masam on May 16, 2019, 09:15:44 AM

really I agree with you.
up and down the price of a coin is a rhythm that must be there. but the risk of loss in investing other than bitcoin is greater because it is difficult to outperform Bitcoin itself

It is important to consider the statement for any currency you have invested in such Bitcoin, USD, and euro and pounds etc. You will have the risk of decrease in price in any currency or coin as there might be a decrease in your cost price that results in loss. Therefore, we need to hold the currency till its price does not appear high in the market. Most of the investors are trying to hold Bitcoins some more time.

pixie85

hero member

Activity: 2128

Merit: 524

People should stop relying on stablecoins and instead use BTC to measure the value. It used to be like that in the old days when people were dumping alts for btc in the bear market because they were dumping much harder and not all exchanges allowed you to sell for fiat. The markets were more interesting back then.

I like how altcoins are lagging behind bitcoin all the time when it pumps but dump at the same time

diazepam666

hero member

Activity: 1162

Merit: 516

1BTC Welcome Bonus

I will not say like op but we need to give equal importance to the bitcoin market as well. That is the reason we people are seeing the huge amount list including bitcoin as a separate market for it.

Then most conversion part for any cryptos also we can see the bitcoin and USDT are at main place.

Christinebeauty

copper member

Activity: 420

Merit: 2

What you are saying is true and I noticed it today when I realized all the altcoins were reducing in price drastically following a significant drop in the price of BTC. Bitcoin is truly the King of crypto

CLywaTeLb

full member

Activity: 770

Merit: 101

send and receive money instantly, no hidden costs

This is what I said about ethereum all the time. Most of the time from February there was a drop in ETH/BTC. At the same time, the price of the ETH/dollar has increased. Now, when the price of Bitcoin corrected, ethereum is experiencing a sharp decline in price.

Nevertheless, I believe that the price analysis should be carried out both in relation to the underlying asset of the industry, and to the dollar. The reason for this is that the cryptoindustry is not yet self-sufficient.

mrdeposit

hero member

Activity: 1358

Merit: 509

Yeah, you are right. But, we only calculate the price of small altcoins with btc, maybe we got used to.
Even, all the technical analysis should be done with the price of btc.

Topic: BTC price is much more important than USD price (Read 446 times)