Topic: How Bitcoin Price Effects Alt Coins Price - page 2. (Read 239 times)
Bitcoin is the crypto market dominator and so it sets the price of all altcoins. Since you recently bought in BTC and ETH, I'd recommend to hold as these are the 2 coins you'd want for long-term investment.
I also want to warn you to be careful if you attempt to trade this. You may end up with a lot less coins than you started with unless you have experience and a solid plan. There are tons of posts where people tried to get cute and lost a ton of their nut.
The Bitcoin ETF was declined again so dont make any decision based on that, and Altcoin prices are closely connected to bitcoin price because of all the trading done between them so if BTC price shoots up to $15k then you'd see a similar response in other coins, albeit not as much.
Bitcoin is the face of the crypto-currency market. So everyone is watching what happens to it. So it turns out that a lot depends on him
I know for a lot of people on here the only coin is Bitcoin but I do think there's room in the market for other coins (except XRP which goes against everything crypto stands for). However for now it appears that Bitcoin is king. I do think that if Bitcoin goes up after the decision that other altcoins will go up with it, but just not as much.
Hi All
I am a newbie and have a couple of questions, I am hoping you can provide advice on. I have bought XLM/BTC and XRP/BTC which has dropped over the last couple of days. I have heard the SEC may approve the EFT on the 16 August 2018 which will boost the BTC price. With the BTC Dominance at 47.3% should I sell and accept a loss or not sell and wait till I make my money back? Also in your opinions will the Alt coins vs BTC plummet if the BTC shoots up to $15-20K? If this is the case I take it you stay with BTC and then buy the ALT coins when the XLM/BTC is very low?
Many Thanks
Seabass22
I am a newbie and have a couple of questions, I am hoping you can provide advice on. I have bought XLM/BTC and XRP/BTC which has dropped over the last couple of days. I have heard the SEC may approve the EFT on the 16 August 2018 which will boost the BTC price. With the BTC Dominance at 47.3% should I sell and accept a loss or not sell and wait till I make my money back? Also in your opinions will the Alt coins vs BTC plummet if the BTC shoots up to $15-20K? If this is the case I take it you stay with BTC and then buy the ALT coins when the XLM/BTC is very low?
Many Thanks
Seabass22
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