As one of the factors - the turnover of bitcoin in fiat currencies is large, it is easier to sell.
It is cheaper and faster to transfer bitcoin than the fiat currencies from one country to another.
Bitcoin is on all exchanges.
Topic: BTC/ALT more effect than Dollar/ALT (Read 174 times)
- Why are altcoins prices affected by the price of Bitcoin more than affected by the price of the dollar, unlike Bitcoin?
- The main Factors in any Charts is Market Cap "multiplying price by total supply",Price (USD), Price (Bitcoin)?Why?
- Why do we need to compare cryptocurrencies with the bitcoin price (BTC/ALT)?
- The main Factors in any Charts is Market Cap "multiplying price by total supply",Price (USD), Price (Bitcoin)?Why?
- Why do we need to compare cryptocurrencies with the bitcoin price (BTC/ALT)?
The price of the dollar has no influence on either of them. Mostly any real movement in bitcoin is followed by alts and so bitcoins price reflects in the alts.
Market cap shows the total worth of the coins and the idea behind that, it shows how the overall thing is valued instead of just one coin. Think of it like this, would you rather have 1 car worth 100k or 100 million pennies.
We don't need to, it's just that they are traded that way, not many places offer usd/alt trading.
The biggest reason that all of the coins are put beside bitcoin is because that is where the trading happens, bitcoin is used to trade with these altcoins and there is no way of stopping that. Bitcoin is the biggest trading pair for altcoins, there is tether is being used as well as well as regular USD but it's not as big as bitcoin trading in the least.
That's just how it works around here, nothing we can do about it. The price doesn't change with bitcoin though, this only happens due to the fact that when bitcoin goes down that is usually a BAD sign for the rest of the alts.
Wait what? You do know you can trade with other crypto other than BTC i'm not saying you are wrong you just missed the point though and other point of view. We act like this because we use BTC as a main reason for payment to every trading sites or maybe earning as much as they can pretty much everything but in the end they want BTC in return however if you place yourself in the other coin to trade you'lll see the point. Dont think about the price of BTC when you trade cause it will truly affect the momentum of your trading.That's just how it works around here, nothing we can do about it. The price doesn't change with bitcoin though, this only happens due to the fact that when bitcoin goes down that is usually a BAD sign for the rest of the alts.
Don't focus on BTC so much maybe choose ETH for trading sometime and you'll see the result..
- Why are altcoins prices affected by the price of Bitcoin more than affected by the price of the dollar, unlike Bitcoin?
- The main Factors in any Charts is Market Cap "multiplying price by total supply",Price (USD), Price (Bitcoin)?Why?
- Why do we need to compare cryptocurrencies with the bitcoin price (BTC/ALT)?
- The main Factors in any Charts is Market Cap "multiplying price by total supply",Price (USD), Price (Bitcoin)?Why?
- Why do we need to compare cryptocurrencies with the bitcoin price (BTC/ALT)?
1) I think it has to do with the fact that bitcoin has the highest market cap and what happens with bitcoin has the potential to be indicative of the altcoins. Furthermore, on many exchanges, bitcoin is used as the "dollar" to purchase altcoins.
2) Market cap is what helps people understand the dominance of BTC and altcoins in terms of something they may already know -- the stock market.
3) Similar answer to the second part of (1).
The biggest reason that all of the coins are put beside bitcoin is because that is where the trading happens, bitcoin is used to trade with these altcoins and there is no way of stopping that. Bitcoin is the biggest trading pair for altcoins, there is tether is being used as well as well as regular USD but it's not as big as bitcoin trading in the least.
That's just how it works around here, nothing we can do about it. The price doesn't change with bitcoin though, this only happens due to the fact that when bitcoin goes down that is usually a BAD sign for the rest of the alts.
That's just how it works around here, nothing we can do about it. The price doesn't change with bitcoin though, this only happens due to the fact that when bitcoin goes down that is usually a BAD sign for the rest of the alts.
- Why are altcoins prices affected by the price of Bitcoin more than affected by the price of the dollar, unlike Bitcoin?
- The main Factors in any Charts is Market Cap "multiplying price by total supply",Price (USD), Price (Bitcoin)?Why?
- Why do we need to compare cryptocurrencies with the bitcoin price (BTC/ALT)?
- The main Factors in any Charts is Market Cap "multiplying price by total supply",Price (USD), Price (Bitcoin)?Why?
- Why do we need to compare cryptocurrencies with the bitcoin price (BTC/ALT)?
Jump to: