It is a good thing if it doesnt follow where bitcoin goes.
It means it is an independent coin.
Trading with that coin will be a lot of risk since only Doge traders can help you.
But it may be a lot more profitable if you are in the right direction.
While on the other hand if you are trading another coin that is going with the flow of BTC there are a lot out here who can help just by technical analysis of BTC then input the same at what coin you are trading.
Topic: Exchange trading Question. Anyone? - page 2. (Read 354 times)
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.
Any stupid told you that if BTCitcoin raise then alt coin also raise instantly? I don't think so. Even during dump bitcoin few alt coins pumped huge. So really alt coin always not follow bitcoin trend. Price depend on volume and buy demand. If doge coins volume low means there is not very much buyer. So even bitcoin pump there is no chance to pump doge instantly. Increase buy pressure and increase volume means that coin is going to increase price. Every coin have individual community, so you should follow them if you want to be a trader. But if bitcoin stay stable then you can expect slowly altcoin would follow the trend. So don't expect that all alt coin will follow bitcoin trends instantly. 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.
When we trade on BTC/altcoin pair we should be analysis price of BTC and that altcoin, and this is make trading activity become more complicated, so to make more easy to trade we have to choose trading pair crypto with stable coin. There are alot of exchange that provide pair of DOGE/USDT like OKEX, Poloniex, Gate.io.
You can try decentralized exchanges or verified yourself in exchanges that provide fiat trading if you're not a pro yet because you may win and you may lose a lot on impulses either it BTC or USDT they both volatile. USDT does not have that much volatility but still fiat is more steady. I prefer Bitstamp though verification might take long time or just yse DEX exchanges EtherDelta or an upcoming DexAge platform would be nice choice.
You must approach the USDT and BTC market differently.
In the USDT market the most pairs follow the trend of BTC/USDT. If BTC/USDT goes up most other USDT pairs will do the same and same for when BTC/USDT goes down.
But this isn't the case in the BTC market. If value of BTC goes down the most other coins go down. Cause people sell alts to get into the increasing BTC market. If BTC is about to crash most people sell of and put some money in alts which make them increase.
So just keep in mind well that if you trade to increase your crypto value then you must keep in mind BTC up => alts down and BTC down => alts up. This isn't always the case but 75% of the cases it happens this way
In the USDT market the most pairs follow the trend of BTC/USDT. If BTC/USDT goes up most other USDT pairs will do the same and same for when BTC/USDT goes down.
But this isn't the case in the BTC market. If value of BTC goes down the most other coins go down. Cause people sell alts to get into the increasing BTC market. If BTC is about to crash most people sell of and put some money in alts which make them increase.
So just keep in mind well that if you trade to increase your crypto value then you must keep in mind BTC up => alts down and BTC down => alts up. This isn't always the case but 75% of the cases it happens this way
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.
You ask about correction only, part you'll see when price goes up/ down in long term period. Most people will see the habit and will follow it but I can say everything has pattern and all pattern can see from history. Try to analysis all part and see future as risk.
I tried looking for some type of correlation and there really wasn't one I could find which would help my trading.
Basically Bitcoin goes up (or down) and alt coins go up (or down).
Bitcoin goes up and altcoins go down (or vice versa)
Bitcoin goes nowhere... altcoins go up/down.
The only correlation I noticed was that altcoins generally go up in much higher percentages than Bitcoin. So BTC can be only up 2% but alts can be up 10% or so.
Basically Bitcoin goes up (or down) and alt coins go up (or down).
Bitcoin goes up and altcoins go down (or vice versa)
Bitcoin goes nowhere... altcoins go up/down.
The only correlation I noticed was that altcoins generally go up in much higher percentages than Bitcoin. So BTC can be only up 2% but alts can be up 10% or so.
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.
Besides that, not all traders will sell the altcoin to buy bitcoin because they can hold the altcoin or they can lift the price so they can get double profit. Everything can happen in the market, but as you said, not all altcoins are following bitcoin price because some altcoin can increase whenever bitcoin is down or up. So you need to choose the right altcoin to still make a profit from both bitcoin and altcoin.
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.
This is the best logical answer here. Investors do shift their positions to where the money is.
So if bitcoin is making a good run, investors will sell their DOGE and move to bitcoin and ride the wave for as long as they can. If the price of bitcoin then goes down, they immediately liquidate their positions and then spread it out again and maybe goes back to DOGE.
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.
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.
It is how market goes in past time, when altcoin down because of bitcoin increased. But now, that thing not always happen, because sometime if bitcoin down, altcoin down too because people not want to lose more assets. 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.
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.
Yes this could be the 90 percent chance in all the reasons out there.
Sell altcoin buy bitcoin and try to ride the wave.
It just happens and you should just go with it.
Before it was different, but with the addition of so many altcoins specially Tether the trading system is changed.
It could have been Bitcoin up then altcoin down then it goes vice versa.
But now the system is different.
Bitcoin up sell to Tether then buy another altcoin which had been dumped by other to buy bitcoin. It made a lot of difference. There is an escape pod by now which is Tether and it is equal to USD.
It shouldve been sold for Doge (using the coin you are trading) which makes the Doge price goes back up but that is not the case now. A safety pin has been added and they can stay with Tether to wait for Doge to go deeper until they buy. The pump is being hold.
There are altcoins that are highly dependent on bitcoin, and there are those that do not depend on it. Accordingly, you could compare the charts of the currencies you are interested in and understand how dependent they are. The price of some altcoins can also move in the opposite direction from the bitcoin.
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.
All of that is the way the market works. Bitcoin goes up Alts down, Bitcoin goes down Alts goes down, Bitcoin is stable, Alts can be stable or even up
When bitcoin goes up it means the demand of bitcoin is getting higher, while you see DOGE pair BTC which means those trader also have demand with Bitcoin by sell their DOGE.
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.
Altcoins do not follow the Bitcoin to the nearest percentage. If BTC increases +2% it doesn't mean the altcoins will to increase by 2%. The evidence is more obvious if you look at a graph over the long term. You may see better that the trends are the same. (don't just look at dogecoin)
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.
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