Ethereum Price Action in relation to Bitcoin

dragonvslinux

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Well this was certainly a turn-around for ETHBTC chart, noticeably a sellers wick on BTCUSD at the same time ETHBTC breaks out... looks like BTC got sold into alts.

It's early days, but looking at other metrics such as CMF on Weekly, it closed last week in the positive, so definitely has room to run:

Not to mention Bitcoin dominance crashing today, close to breaking through long-term support. It's all starting to look very bottom-like again. DYOR.

bohr

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Quote from: nakata121 on January 10, 2020, 02:54:18 PM

Quote from: ePesoInitiative on September 30, 2019, 03:03:25 PM

You know the drill. When Bitcoin rallies hard, altcoins dump. When Bitcoin dumps, all the rest dumps too. But when Bitcoin is sideways, altcoins rally and some go their own price action.

Everyone in this subsection of Bitcointalk is waiting for altcoin season to come again. Some have already given up.

I will try to post my observations about the market relationship of Ethereum which is the current lead indicator of altcoin market health to Bitcoin's.

altcoin prices are currently mostly influenced by bitcoin prices, so when bitcoin prices are dumped, altcoin will also follow it and when bitcoin pumps, but not all altcoins will experience pump prices even there are some altcoins which tend to actually decrease in price, and this is usually caused by many traders who sell their altcoins with BTC pairs, thus, pushing BTC price up in the market.

And I do not really see any reason why this is not going to continue, the altcoin prices have been influenced by bitcoin for a very long time, when bitcoin goes up many altcoins go up as well and when it goes down altcoins go down as well something really important is going to have to happen for that tendency to change, but I'm honest I do not really know what that could be because everyone seems to be incredibly interested in the price of bitcoin and disregard the rest of the coins in the market.

nakata121

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Quote from: ePesoInitiative on September 30, 2019, 03:03:25 PM

You know the drill. When Bitcoin rallies hard, altcoins dump. When Bitcoin dumps, all the rest dumps too. But when Bitcoin is sideways, altcoins rally and some go their own price action.

Everyone in this subsection of Bitcointalk is waiting for altcoin season to come again. Some have already given up.

I will try to post my observations about the market relationship of Ethereum which is the current lead indicator of altcoin market health to Bitcoin's.

altcoin prices are currently mostly influenced by bitcoin prices, so when bitcoin prices are dumped, altcoin will also follow it and when bitcoin pumps, but not all altcoins will experience pump prices even there are some altcoins which tend to actually decrease in price, and this is usually caused by many traders who sell their altcoins with BTC pairs, thus, pushing BTC price up in the market.

bohr

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Quote from: Kasabus on December 27, 2019, 10:05:47 AM

When the market is bearish, it's easy to predict the movement of ETH as it always follow the movement of bitcoin.

Things has changed completely, the trend prior to 2018 was different, ETH is quite independent as it can make its own action, now it's different, it's dominated by bitcoin and therefore it has to follow the movement of bitcoin but it can't surpass BTC success or failure in terms of price movement.

It is not really that challenging to understand why at that time the tendency of the movements between those two coins was different, at that time ethereum was being used to buy into all kind of projects and many of them did not even accepted bitcoin as a form of payment, you needed to buy ethereum if you wanted to invest in icos, this created a huge demand for ethereum as it had no competitors and there was a time in which it got very close to bitcoin in terms of market cap, but those days are over because no one is interested in icos anymore and as such ethereum is completely dominated by bitcoin.

agentx44

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Quote from: ePesoInitiative on September 30, 2019, 03:03:25 PM

You know the drill. When Bitcoin rallies hard, altcoins dump. When Bitcoin dumps, all the rest dumps too. But when Bitcoin is sideways, altcoins rally and some go their own price action.

Everyone in this subsection of Bitcointalk is waiting for altcoin season to come again. Some have already given up.

I will try to post my observations about the market relationship of Ethereum which is the current lead indicator of altcoin market health to Bitcoin's.

Most of the time, bitcoin usually dictates when will be the next dump of altcoins. We can really say that bitcoin's price has a relation with altcoins that's why it is very important that we monitor the price change with bitcoin if ever we are investing on altcoins. Through this, we can determine if altcoin season is already near and make some action that would make our investments be beneficial and improve. Be observant always with the price change to know when is the right time to buy or sell.

Kasabus

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When the market is bearish, it's easy to predict the movement of ETH as it always follow the movement of bitcoin.

Things has changed completely, the trend prior to 2018 was different, ETH is quite independent as it can make its own action, now it's different, it's dominated by bitcoin and therefore it has to follow the movement of bitcoin but it can't surpass BTC success or failure in terms of price movement.

Ekyfitri

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Quote from: ePesoInitiative on December 23, 2019, 11:13:34 AM

Quote from: piebeyb on December 22, 2019, 02:58:19 AM

That's why when people have a lot of money and they are called whales because they can play around with all the small traders, the market is making many people bored waiting for altcoin to shine like it used to, I say maybe some altcoins will shine again like before but not at this year, let's see next year the same as for the price of bitcoin, at the end of this year the pope chooses to play around and makes all the traders get bored throwing everything away to bitcoin, so all back again to the price of bitcoin if there is an increase in their prices then all altcoin rises including ethereum, but yesterday when bitcoin only went down a little ETH dropped 2x deeper like never before, hope it's also not below $ 100, return to trading January 2020 later

Well, it looks like altcoin season is coming soon and really soon this year. The question now is when: whether before the Bitcoin halving or after the Bitcoin halving, I believe it will last at least three years this time as it will be the greatest rallies the world has ever seen.

You have said it will soon but you also asked when. this is confusing.
what kind of altcoin season do you expect? whereas in very long-term market conditions it is still not conducive to pump pumps. bitcoin and ethereum have also not increased. it would be very difficult to imagine the altcoin season coming.

MuffinMaster

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Pepemo.vip

Almost every altcoin price is dependent on bitcoin price and ethereum is not an exception. The majority of investors are shifting towards bitcoin since altcoins have become a subsidiary of bitcoin. Since 2017 altcoins only move up whenever bitcoin goes up. We have to wait a few more years before making final conclusion about altcoins that whether they have the tendency to run on there own.

adroitful_one

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Quote from: Kersh768 on December 21, 2019, 12:45:02 PM

Quote from: ePesoInitiative on September 30, 2019, 03:03:25 PM

You know the drill. When Bitcoin rallies hard, altcoins dump. When Bitcoin dumps, all the rest dumps too. But when Bitcoin is sideways, altcoins rally and some go their own price action.

Everyone in this subsection of Bitcointalk is waiting for altcoin season to come again. Some have already given up.

I will try to post my observations about the market relationship of Ethereum which is the current lead indicator of altcoin market health to Bitcoin's.

This just proves the correlation of the existing cryptocurrencies within the market in relation to the rise and dump of Bitcoin's price value. This just shows that there is somehow a direct and indirect relationship between the price of Bitcoin and Altcoins and how they behave on different situation. It just that the market is still alive despite of the dump that Bitcoin is currently into. Altcoins somehow show positive movements despite of the fact that Bitcoin continuously getting down little by little but Altcoins are keep on getting up even with small improvements. Ethereum price value like Bitcoin is also unpredictable in a sense that sometimes when Bitcoin is down, Ethereum is also down or the other way around and sometimes even Bitcoin is down, Ethereum is still keep on going up. It just shows that even most of the Altcoins depends on Bitcoin, still there are Altcoins who can still improve their prices despite of the ups and downs happening with Bitcoin.

The direct relationship of the Bitcoin price and other altcoins has to do with the market cap as a whole. When more money comes into the market in Bitcoin, it brings in more money to trade that Bitcoin for other altcoins at the same time. The more money there is to invest in the market, the higher the prices will be. When the money leaves the market, the prices of everything goes down.

ePesoInitiative

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Quote from: piebeyb on December 22, 2019, 02:58:19 AM

That's why when people have a lot of money and they are called whales because they can play around with all the small traders, the market is making many people bored waiting for altcoin to shine like it used to, I say maybe some altcoins will shine again like before but not at this year, let's see next year the same as for the price of bitcoin, at the end of this year the pope chooses to play around and makes all the traders get bored throwing everything away to bitcoin, so all back again to the price of bitcoin if there is an increase in their prices then all altcoin rises including ethereum, but yesterday when bitcoin only went down a little ETH dropped 2x deeper like never before, hope it's also not below $ 100, return to trading January 2020 later

Well, it looks like altcoin season is coming soon and really soon this year. The question now is when: whether before the Bitcoin halving or after the Bitcoin halving, I believe it will last at least three years this time as it will be the greatest rallies the world has ever seen.

piebeyb

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Bitcoin Trader

That's why when people have a lot of money and they are called whales because they can play around with all the small traders, the market is making many people bored waiting for altcoin to shine like it used to, I say maybe some altcoins will shine again like before but not at this year, let's see next year the same as for the price of bitcoin, at the end of this year the pope chooses to play around and makes all the traders get bored throwing everything away to bitcoin, so all back again to the price of bitcoin if there is an increase in their prices then all altcoin rises including ethereum, but yesterday when bitcoin only went down a little ETH dropped 2x deeper like never before, hope it's also not below $ 100, return to trading January 2020 later

Kersh768

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Quote from: ePesoInitiative on September 30, 2019, 03:03:25 PM

You know the drill. When Bitcoin rallies hard, altcoins dump. When Bitcoin dumps, all the rest dumps too. But when Bitcoin is sideways, altcoins rally and some go their own price action.

Everyone in this subsection of Bitcointalk is waiting for altcoin season to come again. Some have already given up.

I will try to post my observations about the market relationship of Ethereum which is the current lead indicator of altcoin market health to Bitcoin's.

This just proves the correlation of the existing cryptocurrencies within the market in relation to the rise and dump of Bitcoin's price value. This just shows that there is somehow a direct and indirect relationship between the price of Bitcoin and Altcoins and how they behave on different situation. It just that the market is still alive despite of the dump that Bitcoin is currently into. Altcoins somehow show positive movements despite of the fact that Bitcoin continuously getting down little by little but Altcoins are keep on getting up even with small improvements. Ethereum price value like Bitcoin is also unpredictable in a sense that sometimes when Bitcoin is down, Ethereum is also down or the other way around and sometimes even Bitcoin is down, Ethereum is still keep on going up. It just shows that even most of the Altcoins depends on Bitcoin, still there are Altcoins who can still improve their prices despite of the ups and downs happening with Bitcoin.

cassavachips

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Even though the market has been red for a long time and altcoin prices are getting ruined, but I appreciate them for being able to last long enough with these conditions, altcoin only relies on the stability of bitcoin to survive so I will continue to believe in waiting for the alt season to rise

ePesoInitiative

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Quote from: ePesoInitiative on December 17, 2019, 03:19:33 PM

Quote from: ePesoInitiative on December 10, 2019, 11:15:52 AM

Frankly I'm surprised that after five days, the Ethereum price is still around 0.02btc. I was expecting it to crash to 0.0189btc by now. The large dump of ETH for BTC on November 22 is telling since the price did not fall so much.. It says the bottom could be very near.

The price crashed to 0.0183btc is which actually lower than what I expected. Now we will have to wait if whales begin catching dumps along this price level coming into January. Hopefully it could be the bottom since ETH is now $127 worth.

It all depends on Bitcoin's price action - the recent pump that reached the diagonal resistance established long ago was reached ($7200). So did Ethereum also recovered but now we will have to see what the hard fork effect will be.

ePesoInitiative

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Quote from: ePesoInitiative on December 10, 2019, 11:15:52 AM

Frankly I'm surprised that after five days, the Ethereum price is still around 0.02btc. I was expecting it to crash to 0.0189btc by now. The large dump of ETH for BTC on November 22 is telling since the price did not fall so much.. It says the bottom could be very near.

The price crashed to 0.0183btc is which actually lower than what I expected. Now we will have to wait if whales begin catching dumps along this price level coming into January. Hopefully it could be the bottom since ETH is now $127 worth.

BuNga_cute

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It is true that the price movements of altcoins have something to do with bitcoin price movements. That means so does ethereum prices
will be affected by the price of bitcoin. So later if the price of bitcoin rises during halving in the middle of 2020, ethereum prices will
possibly going up too. So from that the current market condition of bitcoin has decreased in price, making ethereum prices so affected
come down too. Hopefully this price reduction does not last long.

ePesoInitiative

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Quote from: ePesoInitiative on December 10, 2019, 11:15:52 AM

Frankly I'm surprised that after five days, the Ethereum price is still around 0.02btc. I was expecting it to crash to 0.0189btc by now. The large dump of ETH for BTC on November 22 is telling since the price did not fall so much.. It says the bottom could be very near.

Today's strong dump will be retesting 0.01966btc which is the lower part of the bullish pennant formed from September 24 with its flagpole starting from September 7 at 0.01612btc. If support holds, the price may re-test the upper resistance level at 0.02122btc.

ePesoInitiative

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Frankly I'm surprised that after five days, the Ethereum price is still around 0.02btc. I was expecting it to crash to 0.0189btc by now. The large dump of ETH for BTC on November 22 is telling since the price did not fall so much.. It says the bottom could be very near.

ePesoInitiative

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Quote from: Pelunize12 on December 05, 2019, 05:13:31 AM

we dont have to do our own research to know the correlation
There are many research already done if you find in the internet

The good one you can find from Binance research, it has done research market correlation between Bitcoin and top altcoin
you can check here https://research.binance.com/analysis/correlations-q3-2019

Quote

Ethereum became one of the benchmarks of the crypto-market in the third quarter of 2019, displaying the highest median correlation with all other cryptoassets.

Yes, we know that Ethereum is highly correlated but we are here on this thread to analyse Ethereum price action against Bitcoin. Because a healthy Ethereum price increase means the whole altcoin market will become a good long-term investment.

Pelunize12

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we dont have to do our own research to know the correlation
There are many research already done if you find in the internet

The good one you can find from Binance research, it has done research market correlation between Bitcoin and top altcoin
you can check here https://research.binance.com/analysis/correlations-q3-2019

Topic: Ethereum Price Action in relation to Bitcoin (Read 2538 times)