I think that altcoins are fully dependent on bitcoin because they are based on it and the fees are carried out on it)))
Topic: How does Bitcoin affect other Crypto? - page 15. (Read 4345 times)
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I have recently been into altcoin trading. I just want to know, does the price of bitcoin affect the price of other cryptocurrencies as well? How? I really want to know. I have noticed that ever since the bitcoin price pumped up and reached 4,000 USD, the price of the altcoins had gone really really low. I almost lost my invesment due to this sudden drop. Does bitcoin price have something to do with this?
do you remember when bitcoin start to rise and finally reach $19k? in that time, almost altcoin is rise too and make the highest price even for the cheap coin price. from this, bitcoin price giving an effect to another crypto because the other crypto is just following where bitcoin wants to go. and if somehow bitcoin is down, then the other coins will down too. and related with the conditions today, bitcoin price is not going to increase higher or lower so it makes the altcoin is not increased higher and lower but some of the altcoins can increase higher and try to back to the highest price.
I think not just that has been lost your investment, many of us have this experience. but one thing that I can suggest is to try to hold your coins until the price can increase higher soon so you can make your profit again.
Because of the fact that bitcoin is the base coin that every crypto coin can trade to is an equation that there is a price link between them. For instance, a crypto that has a value of 1 dollar in bitcoin this time can have a value of 1.5 dollars in the next couple of hour as bitcoin's market price rises.
Bitcoin affects other crypto currencies with price fluctuations and trust in the community. If the bitcoin price rises then other crypto currency prices also tend to rise but if the bitcoin price decreases then the price of other crypto currency will also decrease. Other than, public confidence in bitcoin is also very important. If the belief in the king alone is high then indirectly the belief of the people also tend to be high. High public confidence in bitcoin will lead to higher confidence in other crypto currencies.
Bitcoin affects them through the bitcoin's market fluctuations it affects other cryptocurrency prices which makes Bitcoin and Altcoins related.
Bitcoin is accepted in many countries as compared to Altcoin, which affects the price of electronic money. And this ultimately affects the price of Altcoin and affects its growth. Bitcoin is the king of all other currencies and the entire market is controlled by bitcoin as Bitcoin prices will move unpredictably over all the markets that will move by bitcoin and the price of all beat altcoins By bitcoin, and like people say, when bitcoin prices increase, some altcoin prices are down although there are still some altcoin that are stable on their prices and not followed to fall.
I have recently been into altcoin trading. I just want to know, does the price of bitcoin affect the price of other cryptocurrencies as well? How? I really want to know. I have noticed that ever since the bitcoin price pumped up and reached 4,000 USD, the price of the altcoins had gone really really low. I almost lost my invesment due to this sudden drop. Does bitcoin price have something to do with this?
Probably because bitcoin is already longer than altcoin, so maybe bitcoin prices will affect altcoin
Of course, bitcoin markets affect the altcoin market, but some altcoins do not get the effect of bitcoin, and that's just a good altcoin.
trading is not easy, you have to be patient, use strategy, do market analysis and analysis every chart.
trading is not easy, you have to be patient, use strategy, do market analysis and analysis every chart.
bitcoin affect other crypto, because we can see that many crypto is depend on bitcoin, what its mean? its mean that cryptocurrencies that we have always exchange it into bitcoin first before you sell it right? its the reason why if the bitcoin rise up the other cryptocurrencies price is down
At present prices of bitcoin are too high compared to other altcoin coin. So when it goes down, it almost pulls the whole market down with it.
After bitcoin a lot of online coin was launched. Their price depends on the bitcoin price. Another cause is the user. So everyone goes for bitcoin. I think it is rather when there is something that has a threat to Bitcoin that you find people turning to altcoins for safety other than Bitcoin is still the best buy.
Almost everyone is holding other crypto coins to sell in high and earn high in Btc, so when ever their is price increase in btc immediatelly you can see that almost all altcoins will be in red due to all traders start to sell their altcoins and convert it to btc so that they can sell btc in high and reap profit.
It do affect them directly in any mean. If the price of btc increases than you can see that the price of alts decrease and wait a bit than if btc is still stable the alts increase as well and when decrease the alts don`t wait for anything but get dumped.
Every cryptocurrency is pegged to bitcoin. If for example, 1 coin is equal to 100 sats, then the value of bitcoin in usd increases, that 100 sats would be worth more now.
Agree, but sometimes here is some weird things.
Like look: bitcoin goes up - altcoins goes up, and then - it starts to flat - but altcoins dont, they go down. Dont know why, but it exists definitely
Well alts don't entirely rely on bitcoin's movement because they have their own markets with investore and traders as well. In general of course all of them are linked to btc but it doesn't mean that they're movements will always be influenced by bitcoin.
Bitcoin has great impact on altcoins prices because it is still the most recognized and believed cryptocurrency. So when Bitcoin price raises people sell their altcoins and buy Bitcoin.
Every cryptocurrency is pegged to bitcoin. If for example, 1 coin is equal to 100 sats, then the value of bitcoin in usd increases, that 100 sats would be worth more now.
Agree, but sometimes here is some weird things.
Like look: bitcoin goes up - altcoins goes up, and then - it starts to flat - but altcoins dont, they go down. Dont know why, but it exists definitely
BitCoin is the first and largest crypto, when confidence is shown in it, there’s carry over to other cryptos. With decentralized exchanges and the massive success of recent ICO’s, I think this is only the beginning for BitCoin, blockchain and other coins. The success of BitCoin paves the way for projects.
Every cryptocurrency is pegged to bitcoin. If for example, 1 coin is equal to 100 sats, then the value of bitcoin in usd increases, that 100 sats would be worth more now.
Is because Every major exchange offers BTC trading pairs (where you can trade BTC for alts rather than alts for fiat or USDT). BTC is the top coin being traded for other alts in terms of market cap, volume, and general popularity, it is thus at the center of the crypto economy and has some gravity behind it
If you are trading alt coin with bitcoin, then when bitcoin price is going up then alt coin value will go down, that is because you are using bitcoin as the comparison, bitcoin got a huge effect on altcoin
Bitcoin affects the Altcoin in various way. Bitcoin is always dominant over Altcoin. Bitcoin is old and experienced crypto currency then that of Altcoin. Bitcoin is accepted in many country in comparison to Altcoin this thing affect price of these cryptocurrency. Bitcoin price is also higher then that of Altcoin and because of this many invest like to invest in bitcoin then that of altcoin. And this thing ultimately affects the price of Altcoin and affects its growth. Another reason is bitcoin has a bigger platform then that of Altcoin. Jump to: