How does Bitcoin affect other Crypto? - page 17.

Zrs

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Quote from: genocide on August 14, 2017, 08:36:43 PM

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?

This is broad question.Firstly the simplest answer is the price of bitcoin directly affect the other cryptocurrencies.You have to keep in mind that other cryptocurrencies used bitcoin as exchange rate.That's why if bitcoin price pumps,other cryptocurrencies will be effected and vise versa.so bitcoin has a strong effect in other cryptocurrencies and no chance to avoid it.

ngefek berat

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there may be no link between the bitcoin price and the other because since the first price is always changing so that we can not expect it with certainty if Altcoin can certainly be used in the search for profit if we often see the movement each exchange for the type of coin.

@maxking

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Bitcoin drags along with it others when it dips.

Just like this, bitcoin says, "When I dip, you dip. We dip".

https://media.giphy.com/media/t7uLFW8ulztte/giphy.gif

aldrian09

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Yes bitcoin movement does affect altcoins every time bitcoin goes up most of altcoins goes down because people will tend to sell all their altcoin holdings to have bitcoin to convert into fiat and then they will wait for bitcoin to go down for them to buy plenty of bitcoin and of course since altcoins went down they can buy more altcoins too. Though there are some altcoins that goes up even bitcoin is going up but there are only few of them does that. But few months ago I've witnessed that bitcoin was going down and most of the altcoins are going up so for me we really can't know how the market move its very volatile and its unpredictable.

leonair

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Quote from: genocide on August 14, 2017, 08:36:43 PM

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?

Actually it is much better if Bitcoins goes up because altcoins tend to goes up too but if Bitcoin is in jeopardy and in a down trend all of the other cryptocurrencies is getting low too, Bitcoin is the father of all cryptocurrencies and still most of the altcoins really rely on Bitcoin in able to buy their coins so if Bitcoin's market cap goes low most of them values is also getting down because they are still dependent on Bitcoin.

maku

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I am not here to judge which altcoins are good and which were created purely to earn money for their creators.
As most of you said, bitcoin is the benchmark for the whole crypto currency ecosystem, every other altcoin is aspiring to follow Bitcoin's footsteps and become accepted worldwide.
In case of any sort of legal troubles with bitcoin it is almost certain that every single altcoin will be affected by the same fate. This is why altcoins price will be forever bound to BTC's.

otol55

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It is true. Bitcoin price changes affect part of the altcoin price. Why? because Bitcoin is the basis of all altcoin exchanges. as it happens today, the price of Bitcoin is down and some altcoin has decreased in price, they panicked and sold all their altcoin assets to save their Bitcoin.

RyanEncek

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Since Bitcoin prices are going up so many traders will pull out their money from other cryptos and start investing in bitcoins that is why we will see altcoin prices will be when Bitcoin is pumping. But after Bitcoin prices stabilize then we can see the altcoins moving up. But some of the good altcoins like IOTA is still doing good. It was around 0.2 USD couple of weeks back and now price is almost $ 1. Just need to choose the good altcoin to invest, so the point is to think before stepping.

Pleione527

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As being the head of all crypto currencies I think bitcoin affects other cryptos when it comes to value appreciation it use as the benchmark for the price of many altcoins. Bitcoin is consider the king of all cryptos so when its market is crashing other coins also suffered and when it pump the rest also followed

Reez

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Bitcoin is the king of all cryptos. With that said, usually is the price goes down the other cryptos, especially major ones will follow.

vvadym

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Bitcoin is also a cryptocurrency. The value of crypto depends on market’s demand. If Bitcoin is in demand, the opposite happens in other cryptocurrencies. Just need to choose the good altcoin and be careful of where to invest.

Rinaze

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I would say BTC as the big brother does affect the entire market even if you want or don't want. However, how a certain altcoin could hold up eventually is up to the altcoin! There're altcoin that move up when BTC goes down and we can say the same for via vice.

michael99

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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

Solve.Care

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It works the same way traditional currencies work. If the price of Bitcoin changes - so are the altcurrencies. If BTC goes up, so are other cryptos.

bitgolden

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Quote from: aizen10 on September 02, 2017, 07:56:12 PM

Quote from: bitllionaire on September 02, 2017, 06:48:26 PM

Quote from: crypteris on August 28, 2017, 08:53:01 AM

The way I see it is that throughout autumn, bitcoin price won’t be rising too fast because it has already set new records, and it will need some time to settle. And probably that’s the time for some altcoins to go higher.

Yes the cost of bitcoin is going high and high slows and steady and one day it will cover all the crypto in the whole world. This will happen just because the use of bitcoin is very easy and comfortable, throughout the whole world and through the internet. And it will also be acceptable throughout the world, for its easiest way of keeping and using. That’s why it will affect the other crypto.

"one day" you told? lol .bitcoin already cover all the crypto in the whole word. in a few years it cost a thousands of dollar , from that very fast evolution no one crypto in whole world can get near this bitcoin. so it totally affects the whole alt-coin in the market, like a whale when it moves all the fish around him are rapidly moving from one place to another.

Exactly, I also agree with that the price of bitcoin is going up very rapidly, and I think if bitcoin remain the number one crypto digital currency all over the world. the price of one bitcoin must be in the purchasing range of an ordinary person, as now in September 2017, I myself am not in a position to buy even a single bitcoin because of the higher price. Low price and huge investment will affect other crypto.

pixie85

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Quote from: jimn on September 03, 2017, 07:45:05 AM

Bitcoin is supporting the other crypto currencies, because when its price increase, usually the crypto prices increase as well, and more people get involved with them, all the altcoins depend on the Bitcoin's success in fact

It's sometimes the opposite. When Bitcoin's price increases people sell all their altcoins to join the pump and profit from it. Some coins like Litecoin tend to go up with Bitcoin and some other like BCC that we could say stands on the other side of the barricade goes down when Bitcoin rallies.

jimn

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Bitcoin is supporting the other crypto currencies, because when its price increase, usually the crypto prices increase as well, and more people get involved with them, all the altcoins depend on the Bitcoin's success in fact

Seansky

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Quote from: genocide on August 14, 2017, 08:36:43 PM

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?

Bitcoin price and altcoin price most of the time is related with each other and therefore it affects price of other cryptocurrencies as well but not all the time. When bitcoin price is high, mostly other crypto goes down in terms of price in btc and dumps but this does not happen all the time. Dont think if your investment OP as lost, consider it as an effect of btc high price because people tends to convert to bitcoin when price is this high and then some convert to fiat.

ReLieD

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Of course yes . Forget about currency consider any 2 companies working for the same thing . Like for example mobile phones. Samsung and Apple always have competition between them. Similarly crypto currencies also have competitors between each other

FiiNALiZE

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Quote from: crypteris on August 28, 2017, 08:53:01 AM

The way I see it is that throughout autumn, bitcoin price won’t be rising too fast because it has already set new records, and it will need some time to settle. And probably that’s the time for some altcoins to go higher.

It doesn't matter what time it is in the day or what day it is, if I look at the charts for certain Altcoins I can see that Bitcoin might've pushed them up or down depending on what happened to Bitcoin.
Everything that is shown on the charts is pretty random, even though there is a bunch of people trying to make their own lines in the trading charts, there is more people trying to make money by guessing what the price of a coin will be compared to the people that are making the price of a coin in the charts.

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