Topic: Exchange trading Question. Anyone? (Read 354 times)
It is a matter of supply and demand that affects the price of each coin. Some misunderstands this and believe that bitcoin is the master that can affect the price of most of the altcoins. Well, you should learn how to read indicators. It helps you a lot in trading.
I've learned a fact while trading that when BTC rises some of the other altcoins will start to tumble down or stabilize and when BTC stabilizes, alts will do upside rally. But when BTC drops, most altcoins will drop as well due to panic sellers wanting to cash out their BTC. So they basically sell off their altcoins and just buy back when lower, or just sell their BTC only.
I personally feels it depends on the coin. So we can't just say this is how a coin works. Some coins pumps or dips whenever Bitcoin pumps while some does the same towards the direction of Etherum. And for some coins, they are not influence by either Etherum or Bitcoin.
But for one thing I know, altcoins prices are majorly affected by traders.
Just a Question that has me stumped and maybe someone with more knowledge on the Financial aspects of trading can help me out.
So i Do a lot of trading on Bittrex. I have been dabbling with a low dollar amount(Below $100) to minimize any stupidity on my part and losing it all lol
So no matter what i do i can't seem to understand how the price rise in BTC market affects altcoins like Dogecoin dropping in price.
Seems when BTC goes up in value Doge drops....What am i missing?? Seems it would be plain as day but i'm not a pro in trading obviously.
Can anyone Enlighten this Idiot? lol
Thanks.
So i Do a lot of trading on Bittrex. I have been dabbling with a low dollar amount(Below $100) to minimize any stupidity on my part and losing it all lol
So no matter what i do i can't seem to understand how the price rise in BTC market affects altcoins like Dogecoin dropping in price.
Seems when BTC goes up in value Doge drops....What am i missing?? Seems it would be plain as day but i'm not a pro in trading obviously.
Can anyone Enlighten this Idiot? lol
Thanks.
I see there are many explanations in this thread, some of them are good, others without any logic. You have trading pairs, in your situation you have btc/dollar pair and btc/doge pair. In situation where bitcoin is rising against dollar, it doesn`t not mean that doge is rising against dollars (it can, it can stay the same or drop). Now when bitcoin price is higher, doge can`t worth 50 satoshis like before it needs to drop in this case, but price in dollars for doge will have to stay the same. This is the simplest explanation I could think of, I hope I helped.
If you wish to know more you need to read about currency correlations and to try to understand all that much better, after that you can apply most of that in crypto.
Just a Question that has me stumped and maybe someone with more knowledge on the Financial aspects of trading can help me out.
So i Do a lot of trading on Bittrex. I have been dabbling with a low dollar amount(Below $100) to minimize any stupidity on my part and losing it all lol
So no matter what i do i can't seem to understand how the price rise in BTC market affects altcoins like Dogecoin dropping in price.
Seems when BTC goes up in value Doge drops....What am i missing?? Seems it would be plain as day but i'm not a pro in trading obviously.
Can anyone Enlighten this Idiot? lol
Thanks.
So i Do a lot of trading on Bittrex. I have been dabbling with a low dollar amount(Below $100) to minimize any stupidity on my part and losing it all lol
So no matter what i do i can't seem to understand how the price rise in BTC market affects altcoins like Dogecoin dropping in price.
Seems when BTC goes up in value Doge drops....What am i missing?? Seems it would be plain as day but i'm not a pro in trading obviously.
Can anyone Enlighten this Idiot? lol
Thanks.
In my observation when Bitcoin is rising its price value some of the altcoins are also increases their value but majority of the altcoins are decreasing their price while Bitcoin was increasing. In short there are dependent altcoins in bitcoin and some are not. So in Doge I remembered when bitcoin kicked it price value, Dogecoin also got increased its value.
Definitely is not good to call that market alone is not meant for a NEWBIES other words you would have engaged in lots of trading classes like on Whatsapp and telegram to gain more knowledge before you can try trading.
Did you just make a claim that the market is not meant for newbies, but then suggest to take trading classes on Whatsapp and Telegram lol? Seems to be a lot of talk from someone who wasn't even able to give a decent answer.
You don't need to call yourself an idiot because you don't understand how the trade works. Well profit in a trade is not gotten by the amount in usd added to the coin/token but the percentage growth that differs one coin from another. For example, you can be holding bitcoin which got 1% growth and decide to buy ethereum because you believe it will get higher, let's say ethereum gives you 5% growth, you can now switch back to bitcoin and make 4% profit.
OP should learn the structure of trading before trying himself in real trading. I suggest using demo accounts for understanding the principles of a trading, platform and later he can try himself with real funds. If ETH gains 4% value in price then it is impossible to see BTC on the previous price before this pump. Just a Question that has me stumped and maybe someone with more knowledge on the Financial aspects of trading can help me out.
So i Do a lot of trading on Bittrex. I have been dabbling with a low dollar amount(Below $100) to minimize any stupidity on my part and losing it all lol
So no matter what i do i can't seem to understand how the price rise in BTC market affects altcoins like Dogecoin dropping in price.
Seems when BTC goes up in value Doge drops....What am i missing?? Seems it would be plain as day but i'm not a pro in trading obviously.
Can anyone Enlighten this Idiot? lol
Thanks.
You need to go back to have some lectures on how to trade even in bear market, the problem is not from the Exhcangers but you if really you want to understand the market and how is works you really need to calm down take your time to study and understood TA and also FA which is technical analysis and fundamental analysis. So i Do a lot of trading on Bittrex. I have been dabbling with a low dollar amount(Below $100) to minimize any stupidity on my part and losing it all lol
So no matter what i do i can't seem to understand how the price rise in BTC market affects altcoins like Dogecoin dropping in price.
Seems when BTC goes up in value Doge drops....What am i missing?? Seems it would be plain as day but i'm not a pro in trading obviously.
Can anyone Enlighten this Idiot? lol
Thanks.
You don't need to call yourself an idiot because you don't understand how the trade works. Well profit in a trade is not gotten by the amount in usd added to the coin/token but the percentage growth that differs one coin from another. For example, you can be holding bitcoin which got 1% growth and decide to buy ethereum because you believe it will get higher, let's say ethereum gives you 5% growth, you can now switch back to bitcoin and make 4% profit.
I've learned a fact while trading that when BTC rises some of the other altcoins will start to tumble down or stabilize and when BTC stabilizes, alts will do upside rally. But when BTC drops, most altcoins will drop as well due to panic sellers wanting to cash out their BTC. So they basically sell off their altcoins and just buy back when lower, or just sell their BTC only.
One way to look at it is how the market is willing to offload some of their holdings (e.g. DOGE) in order to participate on other fast movers like Bitcoin. It's just two things when Bitcoin is having a price rally, if Bitcoin goes up and some coins goes up as well then we see that BTC has influenced some of the coins in the market to go up with him. But if Bitcoin goes up and some coins goes down then the hodlers of these coins have sold their position to participate in other cryptocurrencies. Typically coins who don't really have any worth at all are the subject to this kinds of bull runs.
Long story short: Money flows among bitcoin and other coins. Why does it flow between Doge and Bitcoin is not the right to question. I prefer to look in the bigger picture and understand the main idea without any additional noise. Money flows to bitcoin from altcoins because there is no other possibility other than intervening by big financial institutions. 
Just a Question that has me stumped and maybe someone with more knowledge on the Financial aspects of trading can help me out.
So i Do a lot of trading on Bittrex. I have been dabbling with a low dollar amount(Below $100) to minimize any stupidity on my part and losing it all lol
So no matter what i do i can't seem to understand how the price rise in BTC market affects altcoins like Dogecoin dropping in price.
Seems when BTC goes up in value Doge drops....What am i missing?? Seems it would be plain as day but i'm not a pro in trading obviously.
Can anyone Enlighten this Idiot? lol
Thanks.
So i Do a lot of trading on Bittrex. I have been dabbling with a low dollar amount(Below $100) to minimize any stupidity on my part and losing it all lol
So no matter what i do i can't seem to understand how the price rise in BTC market affects altcoins like Dogecoin dropping in price.
Seems when BTC goes up in value Doge drops....What am i missing?? Seems it would be plain as day but i'm not a pro in trading obviously.
Can anyone Enlighten this Idiot? lol
Thanks.
It's your notice which you can try to develop into a strategy.
Test it and then probably you can benefit from it
One way to look at it is how the market is willing to offload some of their holdings (e.g. DOGE) in order to participate on other fast movers like Bitcoin. It's just two things when Bitcoin is having a price rally, if Bitcoin goes up and some coins goes up as well then we see that BTC has influenced some of the coins in the market to go up with him. But if Bitcoin goes up and some coins goes down then the hodlers of these coins have sold their position to participate in other cryptocurrencies. Typically coins who don't really have any worth at all are the subject to this kinds of bull runs.
There is a close relation between the price of bitcoin and the altcoin market. You will see that in most of the exchange the relation is the inverse. If the see the price of bitcoin market going up, then the price of altcoin market starts to go down (like you said, btc price going up doge going down). This is because when the price of bitcoin starts to go up, people starts to dump the altcoin and invest on bitcoin to make some quick profit. So btc starts to rise and altcoin starts to drop. This is just a short run case.
Well, I also noticed this analysis but most likely altcoins were swinging too when the Bitcoin price move. I don't see any opposite reaction of altcoins compared to bitcoin. If you have looked at the graphics price chart design in coins market cap, bitcoin, and altcoins having the way. 
There is a close relation between the price of bitcoin and the altcoin market. You will see that in most of the exchange the relation is the inverse. If the see the price of bitcoin market going up, then the price of altcoin market starts to go down (like you said, btc price going up doge going down). This is because when the price of bitcoin starts to go up, people starts to dump the altcoin and invest on bitcoin to make some quick profit. So btc starts to rise and altcoin starts to drop. This is just a short run case.
Just a Question that has me stumped and maybe someone with more knowledge on the Financial aspects of trading can help me out.
So i Do a lot of trading on Bittrex. I have been dabbling with a low dollar amount(Below $100) to minimize any stupidity on my part and losing it all lol
So no matter what i do i can't seem to understand how the price rise in BTC market affects altcoins like Dogecoin dropping in price.
Seems when BTC goes up in value Doge drops....What am i missing?? Seems it would be plain as day but i'm not a pro in trading obviously.
Can anyone Enlighten this Idiot? lol
Thanks.
So i Do a lot of trading on Bittrex. I have been dabbling with a low dollar amount(Below $100) to minimize any stupidity on my part and losing it all lol
So no matter what i do i can't seem to understand how the price rise in BTC market affects altcoins like Dogecoin dropping in price.
Seems when BTC goes up in value Doge drops....What am i missing?? Seems it would be plain as day but i'm not a pro in trading obviously.
Can anyone Enlighten this Idiot? lol
Thanks.
Adding to it, when ETH goes up, XRP falls down. But, in two days, XRP value will certainly have a growth as like ETH. Hence, when ETH raises, buy XRP, and sell them off when XRP value goes up. This often happens. The second one, when Bitcoin value increases and you have bitcoin in your wallet, please set profit percentage low and sell them off to USDT. USTD value remain stable. This will certainly profit you.
The pattern you've described isn't always the case actually, and in fact, if you look at the entire month of February, Dogecoin has been trading in a very tight range with BTC, around 50-52 satoshi per dogecoin. This has kept the same when BTC was 3400 and the same at 4180 just a few days ago.
So what you're seeing in dollar value is really just because BTC is going up or down. Hardly anyone trades DOGE with USD.
So what you're seeing in dollar value is really just because BTC is going up or down. Hardly anyone trades DOGE with USD.
When the growth of Bitcoin is insignificant, there is a growth of altcoins, but when the growth is sharp, spontaneous, a psychological game begins, everyone wants to be together with the locomotive. At this point, the sale of altcoins and the purchase of Bitcoin begins.
Not all altcoins are following the steps of the king, "Bitcoin". For some reason, the demand and supply plays a big role in the market. If you can observe how the orderbook works, it explains it. Also, sometimes some altcoins as I've noticed, are having a delay as to price pumping.
Not all, but most. Simply because most of the liquidity is due to the altcoin:BTC trading pairs not altcoin:USD.
It could be because:
1. because people might have set some offers to sell DOGE if it reaches a certain pricepoint in USD or BTC.
2. Because it just happens that someone sold a significant amount of DOGE hence the drop.
Seems when BTC goes up in value Doge drops....What am i missing?? Seems it would be plain as day but i'm not a pro in trading obviously.
Perhaps a reason DOGE is going down when BTC is going up is that people are selling their DOGE to buy BTC.
Not only DOGE, every time bitcoin starts climbing altcoins suffer decrease in volume and market cap.
The market goes with the strongest, and that's why they sell their alts to buy more bitcoins.
If anything, alts are beginning to decouple from Bitcoin by quite a bit- Litecoin and Ethereum spearheaded our recent move upwards from the low $3000s for BTC, and BTC lagged a bit behind the movements of those and other altcoins. There’s definitely still some sort of correlation between BTC and alts like Doge, but it’s beginning to weaken somewhat and you should not count on it.
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