Does ETH movements depend on BTC ? - page 5.

lobo13hf

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Quote from: licemer11 on April 04, 2018, 03:17:47 PM

In my opinion, the ETH rate depends mainly on market sentiment and speculative demand

That only just follows the bitcoin on the USD price. ethereum has different sentiment and demand than bitcoin. It should not be following bitcoin but in fact, the trend was making it looks so similar.

This is crypto when everything pegged to the trend.

Manc89

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Quote from: dollurs on April 04, 2018, 10:13:05 AM

You all know that after a huge price fall most of the crypto currencies have now come to their previous support levels. ETH has reached its previous November resistant level ( Now it is a support level ). The Support is at around $400 level and the level is a pretty strong one. But for BTC it needs to go further more down to reach its support level ( previous resistant) usually can be found around $5000. So my question is even ETH has come to its one of a good support level, can it go more down if BTC falls near that $5000 value ?

So far i know yes its depending bitcoin movement but in fiat comparison because etherium normally pair with bitcoin in term of fiat comparison.
But in real value its not always depending on bitcoin price. Mostly yes but not always.

zhelis74

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Quote from: Elcapsono on April 04, 2018, 11:22:56 PM

Quote from: dollurs on April 04, 2018, 10:13:05 AM

You all know that after a huge price fall most of the crypto currencies have now come to their previous support levels. ETH has reached its previous November resistant level ( Now it is a support level ). The Support is at around $400 level and the level is a pretty strong one. But for BTC it needs to go further more down to reach its support level ( previous resistant) usually can be found around $5000. So my question is even ETH has come to its one of a good support level, can it go more down if BTC falls near that $5000 value ?

There is a small dependence, it's like bitcoin rose and the ether says it, and that I can not do it. Of course, basically the growth depends on demand and liquidity and these are the main indicators and not the price of bitcoin.

Well, base on my own observation i can say that ethereum movement or value changes is affected by bitcoin value because the popularity of bitcoin makes it the target to acquire of most trader around the world particularly the day trader, they hold ethereum to trade for bitcoin and therefore if the value of bitcoin rise then they will sell there ethereum for bitcoin and more selling will make it dump and thus affect its value.

Elcapsono

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Quote from: dollurs on April 04, 2018, 10:13:05 AM

You all know that after a huge price fall most of the crypto currencies have now come to their previous support levels. ETH has reached its previous November resistant level ( Now it is a support level ). The Support is at around $400 level and the level is a pretty strong one. But for BTC it needs to go further more down to reach its support level ( previous resistant) usually can be found around $5000. So my question is even ETH has come to its one of a good support level, can it go more down if BTC falls near that $5000 value ?

There is a small dependence, it's like bitcoin rose and the ether says it, and that I can not do it. Of course, basically the growth depends on demand and liquidity and these are the main indicators and not the price of bitcoin.

LaLegiste

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I was watching CMC graphs of top20 currencys during january's BTC correction closely. Most of the currencies had "index of following BTC price" about 0.9. For sure ETH had the best perfomance with it's 0.6-0.7. And i expect it to become even more stable to BTC price fluctuations with it's utility as a payment method for most of coming ICO's. Because ICO market is growing fast and we should expect many exciting improvements from ETH team this year as well. But of course while BTC has about half of crypto market capitalization every Altcoin will follow it.

removebeforeflight

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Yes. Ethereum price would rise or fall based on Bitcoins price, not only Ethereum all the altcoins price follow Bitcoin price. Some may get reflected Bitcoin price bit late but everything depends on it either a blood path or a bullish path.

Crypto currency market is totally based on Bitcoins price I think.

castiloros

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to this day if I notice the ethereum always follow what experienced by bitcoin. I know that is a strong coin ethereum, but may still need the help of the bitcoin for the price adjustment. do not cover the possibility of later ethereum could be without following the value of bitcoin.

8rch7

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I think yes, but not entirely dependent on bitcoin prices. if I describe with numbers, maybe about 20% - 30% depending on the price of bitcoin. this is more to market behavior, when there is an issue of bitcoin, it is likely the market will respond by buying or selling the bitcoin.
when traders sell bitcoin, the proceeds from the bitcoin, they are likely to switch to altcoin (most prefer ethereum I think). or when a trader buys a bitcoin, to buy the bitcoin, they probably sell altcoin first.

bitterguy28

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I think have a little effect for ethereum and other altcoins value if bitcoin price dump in the market, but not totally. Depending in bitcoin their value its depend on the the volume demands investing in the ethereum become the price uprise in the marketcap.

SPINPIX

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ethereum as all other cryptos mostly follows bitcoin's movements. bitcoint is still too important compared to all the other altcoins (it's rapresent the 50% of the marketcap) so if it falls all other alts will probabily follow him and when it pumps the alts usually dump because people change their alts in btc to not loose in btc ratio.

Entei

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We can think of the following way: Ethereum is one of the few that resists a brutal downfall of Bitcoin but unfortunately with regard to price is not indenpendent against Bitcoin. In short, not only Ethereum but all currencies depend on the steps of Bitcoin and depend on the great investors of Bitcoin.

BitSat

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Bitcoin is mother of all Alt Coins so I believe its depend on this also even many coins using this and ether is going more stable but still if bitcoin going green we have some good impact on this also and if its going in red this also have same impact on this so without bitcoin no coin can do good even its ether we would like very much that the ether grow independent. But probably it will be impossible and always ether will be depend to mother bitcoin

ajoy

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I think it does not just ethereum is falling because of the prices of bitcoin, and I see all of the coins are falling depends on the bitcoin

okala

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Bitcoin is the dominant coins so there is no way it will not affect other altcoins. Bitcoin has great influence on ethereum and others majors cryptocurrencies and I think it will take a very long time before there can break this dominant. I have been following cryptocurrency pricing and about 99% of them do fell when bitcoin is falling and rise when it is rising.

AngelSky

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Quote from: cannycassiopeia on April 04, 2018, 03:47:43 PM

This is what most of the traders are doing now. Just because Bitcoin's price is falling down, traders thought that altcoins will fall down also. Altcoins' prices are independent and shouldn't be based on Bitcoin's price.

When we hear any news opposite to the bitcoin, alts and ICO. First many new traders converting those cryptos for fiat cash or cheap altcoins. If they do it, they will be price manipulation through all the cryptocurrencies.

If we all crypters think well about the price fluctuation and avoid the panic sell means you will not find the price bump at all. So understand bitcoin and alts are volatile in nature.

Ai7xpressTV

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Quote from: dollurs on April 04, 2018, 10:13:05 AM

You all know that after a huge price fall most of the crypto currencies have now come to their previous support levels. ETH has reached its previous November resistant level ( Now it is a support level ). The Support is at around $400 level and the level is a pretty strong one. But for BTC it needs to go further more down to reach its support level ( previous resistant) usually can be found around $5000. So my question is even ETH has come to its one of a good support level, can it go more down if BTC falls near that $5000 value ?

Nearly all cryptos out there depend on their "mother" Bitcoin.

But when ETH breaks free from BTC moves it is mostly start of the new altcoin season.

cannycassiopeia

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This is what most of the traders are doing now. Just because Bitcoin's price is falling down, traders thought that altcoins will fall down also. Altcoins' prices are independent and shouldn't be based on Bitcoin's price.

jagdeepjd

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There are only few coins which holds their positions well in the bitcoin dips even they fail to hold that position consistently on those dips.

So Not only ETH almost every altcoin depends on bitcoin price actions as most of the coins are pegged to btc. We may see some different situations in future when we will have USD/USDT pairs for most of the altcoins.

jacafbiz

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Ethereum has tried to be independent of the price of BTC, but for now I thin all the Altcoins market depend on BTC, just imagine of the price of BTC happens to be $20k the price of Ethereum would be around $1000. I don't think $400 price range is a bad support for ETHEREUM because I feel we are close to its bottom

licemer11

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In my opinion, the ETH rate depends mainly on market sentiment and speculative demand

Topic: Does ETH movements depend on BTC ? - page 5. (Read 487 times)