Does bitcoin control the market? - page 14.

twa

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BitSong is a decentralized music streaming platfor

Quote from: Rainbow009 on September 17, 2018, 07:34:18 AM

Most people believe that the price of altcoins' is determined by the price of bitcoin and that they tend to follow it's market movements.

I partially disagree with this. I have studied prices of coins and tokens on CMC and the fluctuations of each currency seems to be unique and independent of any other digital currency. Some show strong pumps when BTC goes down and some heavy dumps when BTC is rising.

Undoubtedly, there are market forces and factors which affects most currencies, this is not influenced by bitcoins price, it rather controls bitcoins' price as well as others.
So when trading or investing, make sure you treat each currency differently as they have different utilities.

I think bitcoin is a pioneer of crypto currencies and maybe bitcoin regulates the market today and is very influential on other coins for now but for the future no one can know for sure

xabre

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Yes bitcoin have more power full control of the market, look how altcoin and market growing fast after bitcoin is growing up, but when bitcoin have drop and lower price many altcoin allow the same price with bitcoin and lower price.

Suketlapangan

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Is it possible that bitcoin controls market prices? but if there is a case about bitcoin that makes the price go down, then it will also have an impact on other coin values, but it also depends on the coin enthusiasts themselves ..

SAYDAKHMETOV

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I think that all coins are related to each other. Most coins lost in value when bitcoin fell. Yet bitcoin can not affect all coins equally.

Exclusives

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Quote from: Rainbow009 on September 17, 2018, 07:34:18 AM

Does bitcoin control the market?

No.
What controls the market is an activity carried out by market users.

Quote

Some show strong pumps when BTC goes down and some heavy dumps when BTC is rising.

That can happen when some BTC users move the assets they own together, to make purchases on coins that have increased, but that only applies if the assets that move have large enough value and vice versa.

you can understand that more clearly in the following article.
https://bitcoin.org/en/faq#what-determines-bitcoins-price

Maricel2017

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Of course because bitcoin is the basis of their value, bitcoin controlling the market in the way of comparing the value of altcoin in bitcoin. But the progress of every altcoin will base on the supply and demand and how the management will pursue to make their coin more profitable of will be worthless in the long run.

pooya87

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it is not exactly about "controlling" the market but realistically that is what happens.

the problem is that the rest of the market (being altcoins and lots of tokens) are not serious projects. they are mainly created to make money both for their creators with things such as premine and ICO, and the speculators with their pump and dumps.
the result of this is that people don't care about the altcoins in the long run since they have no usages and they still care about bitcoin and money. so they are always so fast in abandoning them for things they care about.

SanSanTar

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Yes, i think bitcoin controls our market. Because bitcoin is number 1 and the best coin in crypto world

TravelMug

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Quote from: Rainbow009 on September 17, 2018, 07:34:18 AM

Most people believe that the price of altcoins' is determined by the price of bitcoin and that they tend to follow it's market movements.

There are 4 school of thoughts here:

[1] Bitcoin goes up, Altcoins goes down
[2] Altcoins goes up, Bitcoin goes down
[3] Both market goes on a bullish trend
[4] Both market suffered, massive downtrend

Quote from: Rainbow009 on September 17, 2018, 07:34:18 AM

I partially disagree with this. I have studied prices of coins and tokens on CMC and the fluctuations of each currency seems to be unique and independent of any other digital currency. Some show strong pumps when BTC goes down and some heavy dumps when BTC is rising.

Just look at my post above. I wouldn't save that bitcoin control the market, but it has influence the crypto market because its the dominant coin.

Quote from: Rainbow009 on September 17, 2018, 07:34:18 AM

Undoubtedly, there are market forces and factors which affects most currencies, this is not influenced by bitcoins price, it rather controls bitcoins' price as well as others.
So when trading or investing, make sure you treat each currency differently as they have different utilities.

This is a free market, no one has total control. If you are talking about the whales, yes, they could one factors but you have to see the total picture, there are a lot of players around and then the Universal Economic Theory - Supply and Demand, which is very applicable to this market.

Flor1982

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Quote from: Rainbow009 on September 17, 2018, 07:34:18 AM

Most people believe that the price of altcoins' is determined by the price of bitcoin and that they tend to follow it's market movements.

I partially disagree with this. I have studied prices of coins and tokens on CMC and the fluctuations of each currency seems to be unique and independent of any other digital currency. Some show strong pumps when BTC goes down and some heavy dumps when BTC is rising.

Undoubtedly, there are market forces and factors which affects most currencies, this is not influenced by bitcoins price, it rather controls bitcoins' price as well as others.
So when trading or investing, make sure you treat each currency differently as they have different utilities.

I sorry to disagree but i have observed many times that Bitcoin will always create a domino effect everytime the price will up and down. I don't know what is the main reason but this is always happening now so i think we need to help other on how we will going to pump Bitcoin steadily so that the market will become healthy one again.

Myown55

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For what I have observed, it is obvious that bitcoin has an effect on the prices of the other altcoins. It can be a direct or inverse influence depending on several factors. When the market is red for bitcoin, some other cryptocurrencies also get red, but other would be green.

FreedomFighter2

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Bitcoin is controlled by all Bitcoin users around the world. While developers are improving the software, they can't force a change in the Bitcoin protocol because all users are free to choose what software and version they use.

setialovers

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Quote from: Rainbow009 on September 17, 2018, 07:34:18 AM

Most people believe that the price of altcoins' is determined by the price of bitcoin and that they tend to follow it's market movements.

I partially disagree with this. I have studied prices of coins and tokens on CMC and the fluctuations of each currency seems to be unique and independent of any other digital currency. Some show strong pumps when BTC goes down and some heavy dumps when BTC is rising.

Undoubtedly, there are market forces and factors which affects most currencies, this is not influenced by bitcoins price, it rather controls bitcoins' price as well as others.
So when trading or investing, make sure you treat each currency differently as they have different utilities.

I dont think bitcoin control market and control others coin price. Most exchanger pairs using bitcoin as main pairs and its affecting on others coin price. If bitcoin price againts USD drop, others coin will following because the pairs counted by bitcoin price

zwiggel

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I think bitcoin has controlled the electronic money market. Bitcoin is the father of all pennies. The value of bitcoin has a great influence on other coins. Market capitalization of bitcoin is very large compared to the rest. If bitcoin falls, I do not know what the money market is going to be.

feehannah

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No! Even bitcoin is the king of all crypto ,it could not control the whole market because every coins has a different value,uses,supply, demand and acceptance of people in the market. There are other factors that affecting the market now but we don't need to worry because it is just normal,everything will go back to normal soon.

Caxton10

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The price of Bitcoin affects the market generally as it is been paired with most altcoins on exhanges. However, I have seen some cases where as bitcoin goes down, a couple of altcoins were increasing in price.

iqlimasyadiqa

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Quote from: Rainbow009 on September 17, 2018, 07:34:18 AM

Most people believe that the price of altcoins' is determined by the price of bitcoin and that they tend to follow it's market movements.

I partially disagree with this. I have studied prices of coins and tokens on CMC and the fluctuations of each currency seems to be unique and independent of any other digital currency. Some show strong pumps when BTC goes down and some heavy dumps when BTC is rising.

Undoubtedly, there are market forces and factors which affects most currencies, this is not influenced by bitcoins price, it rather controls bitcoins' price as well as others.
So when trading or investing, make sure you treat each currency differently as they have different utilities.

Bitcoin can be said to have a very large role in influencing the digital currency market. whatever happens to bitcoin will greatly affect the price movement of altcoins. so we have to really analyze bitcoin and enter the role of bitcoin when it comes to analyzing altcoins. Bitcoin will always move and we must be smart in utilizing the momentum that exists at all times.

anafiene

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Indeed many things affect the market and it makes many people feel that bitcoin is the one that controls the market. At present the market is indeed red and declining, a difficult situation to be able to give investors confidence again.

perla

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Quote from: Rainbow009 on September 17, 2018, 07:34:18 AM

Most people believe that the price of altcoins' is determined by the price of bitcoin and that they tend to follow it's market movements.

I partially disagree with this. I have studied prices of coins and tokens on CMC and the fluctuations of each currency seems to be unique and independent of any other digital currency. Some show strong pumps when BTC goes down and some heavy dumps when BTC is rising.

Undoubtedly, there are market forces and factors which affects most currencies, this is not influenced by bitcoins price, it rather controls bitcoins' price as well as others.
So when trading or investing, make sure you treat each currency differently as they have different utilities.

But fact about bitcoin up then people sell their alts to get bitcoin and cash out it is not really wrong, and when bitcoin down people panic to sell their asset is true too. I think a lot of thing can control market.

ambisyon

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I believe that btc is the baseline of the majority of the altcoins in every btc market condition. If btc will be bullish, most of the alts follow the trend wherein it will also go bullish but not the same percentage increase with btc. However, few months back i did observed also that there were cases in which each of the alts and btc had independent market movement.

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