Topic: BTC price is much more important than USD price - page 2. (Read 490 times)
There is great sense in this post. It's high time people stopped checking prices of altcoins in dollar value. I had a similar argument sometime ago in a crypto group, and most folks were like, forget it, we are only concerned about the USD worth. Everything being equal, USD worth for alts still depend on USD worth for BTC, hence satoshi value overrules when talking about worth of altcoins.
the worst part is that most of the investors specially those on this forum speaking about it and all those who are using altcoin exchanges are using bitcoin to buy and sell altcoins!!! in fact nearly all the altcoin exchanges only have bitcoin as their base market then have other altcoins like tether as the secondary market!
so it doesn't even make sense to talk about USD value of something that you didn't even buy with USD and you will never sell to USD!!!
so it doesn't even make sense to talk about USD value of something that you didn't even buy with USD and you will never sell to USD!!!
This is very important point but unfortunately even the good coins that survived the long bear market are still way down in terms of btc from the time of previous bull run i think it will take time for alts to recover and only good ones with quality product development will move forward.
I think so too. Most altcoins prices are based on the price of Bitcoin, not on USD. In this case, it has something to do with USD and other currencies. But in terms of investment and trading in the crypto world, Bitcoin has more influence. But of course, it does not mean if the price of the USD does not give effect. Because basically we also use the benchmark USD when calculating or cashing out.
That's what most of the time that we do, we always invest in bitcoin not in usd so we are calculating our investment in bitcoin pair but when we are calculating our profits we are using the USD value for much satisfying profits. 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.
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 agree with this. We are buying altcoin because we think we can double our bitcoin and i think its much important when we see rising altcoin price againts bitcoin rather than US Dollar. Most altcoin price base on USD rising because bitcoin price rising againts USD and i think i am agree we should pay attention to altcoin againts btc
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 believe that it is normal that the price of bitcoin is being compared with that of USD for now because this is the best way we could be able to get the exact worth of bitcoin since bitcoin itself is not so recognized in the world as a currency, but I believe in just a few years to come when the price of bitcoin have gotten to $100,000,000 because the value of fiat would have been ran down to nothing, then we are going to just depend on the value of bitcoin and it's smallest unit (“satoshi”). 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 think so too. Most altcoins prices are based on the price of Bitcoin, not on USD. In this case, it has something to do with USD and other currencies. But in terms of investment and trading in the crypto world, Bitcoin has more influence. But of course, it does not mean if the price of the USD does not give effect. Because basically we also use the benchmark USD when calculating or cashing out.
I think that is the same because when there is a coin that is high in USD then the price of the coin will also be high in BTC especially when the BTC price drops, and vice versa if the coin price is low at USD then the price will also be low in BTC especially when BTC increases
For me USD price is doesn't matter because even it has a sudden changes you don't have to worry because it change a little. And for those who are holding only a small amount of coin you don't have to worry to USD price change because it is only a cents and if you are holding a huge amount of coin I think this is all about strategy. You need to wait to price value increase of USD also because even a cent affect your income.
People only relate the price of altcoins and tokens to dollar simply because they want to know the corresponding value that can be easily analyzed. Same with bitcoin, it is also compared to dollars.
Thanks for the heads up, I'm one of those people that when telling others about the price of a certain altcoin I'm looking to it depends on the USD price. When I visit CMC now, I'll switch the price into BTC instead of USD. But it won't be easy for me to have that switch because I might still apply USD rates.
Good point.
This could also enlighten those who just keeps on converting unto USD.
We see that here all the time. They problems when it is just a cent of a dollar per piece and what it to go way beyond 1 USD.
They need to surpass bitcoin first before they could even do that.
Performance wise and not just because of hypes.
This could also enlighten those who just keeps on converting unto USD.
We see that here all the time. They problems when it is just a cent of a dollar per piece and what it to go way beyond 1 USD.
They need to surpass bitcoin first before they could even do that.
Performance wise and not just because of hypes.
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.
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.
But the problem is almost everything in the world is valued against Fiat money. Buy a pack of milk, biscuit, ride a metro, order a burger, receive your salary, pay your bills, almost all of them are defined against Fiat. And all of the Fiat are defined against USD. So, this loop created by the IMF and world bank is hard to break.
Traders should firmly have a long position with their investments in Bitcoin, looking on the comprehensive market growth and not just transient movements.
Yes it seems that btc has easily outperformed all alts especially if we talk about recent run where btc has undergone a complete parabolic trajectory while others have only risen a small percentage as compared to btc. Looks like alts will make some real move only once btc settles or moves sideways for some weeks.
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.
You're viewing from a bitcoin-biased trader's stand point, meaning you trade on ALTs/BTC pairs. Yes, it's right BTC price is more important than USD price if you want to accumulate as much BTC as you can. And when BIT pumps high, you sell you BTC to USD to earn double-profit. But it doesn't matter if I'm a USD-biased trader. I trade on ALTs/USDT pairs. My first priority is to accumulate as much USD as I can then and I don't care about BTC.
Whether you're a BTC-biased or USD-biased trader, your ultimate goal is to see USD pouring into your bank account (not USDT stable shit coin on exchanges).
in a market like this, missing out is also just as bad as losing money and when you own altcoins even with only viewing the USD amount that you earn, you are still missing out.
take the "top" altcoin that everyone seems to blindly love for example. assuming you had USD and bought ETH instead of bitcoin at the very bottom of its drop with the current highest price of it you had made only about 50% profit on your investment in the past months.
now if you had invested that USD fully in bitcoin you could have made about 170% profit.
with real numbers:
$1000 in ETH -> $1500
$1000 in BTC -> $2700
the amount you missed is $1200 which is bigger than your initial capital, and it is big enough to be considered "loss" specially since we all know that the same thing always happens when bitcoin rises!
Yes is more important bitcoin price, but people need to report to USD or EUR because when they buy bitcoin need to buy with fiat money and when they want to cashout they ussually need to convert to USD.
I disagree. I find basing values on the dollar to be more useful given that the dollar is still the global reserve currency. Bitcoin is still too volatile to use as a baseline for measuing the value of other currencies. When bitcoin is much higher in value and more stable in price, then we can use bitcoin as a basis for valuing alts.
There are some propositions that are floating around this forum to start measuring everything in satoshi's to brake away from fiat, but my thread is not about it - it's about cryptocurrency market as a whole, and the idea that altcoin traders should pay close attention to Bitcoin, because it influences the whole market - whenever it moves, alts move too, always, no exception. Measuring price of alts in BTC gives you perspective to how well they respond to Bitcoin's movements, which would allow you to get more profits, including profits in fiat.
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
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
I couldn't agree more.
If you invest in alts, you are probably believing bitcoin will be huge in time. So you need to beat bitcoin price to have more btc, not more usd.
If you invest in alts, you are probably believing bitcoin will be huge in time. So you need to beat bitcoin price to have more btc, not more usd.
Jump to: