Topic: How does the supremacy of bitcoin affect altcoins? - page 2. (Read 1659 times)
The supremacy of the bitcoin affect enormously to the altcoins. As the bitcoin has become the most popular coin so people day by day are investing more on it and forgetting about the other coins.
Bitcoin has the effect on the altcoins. If you look at the market movement, you will see that when btc fall other cryptos also fall accordingly. Even the graphs are almost same.
Bitcoin is a great coin for invest. That’s why every person wants to invest on this project. For this reason bitcoins price and demand both are rise. In this situation other coins price decrease because of low demand.
It affect it so much since all altcoins are linked directly to Bitcoin. Meaning, to buy any altcoins, you need bitcoin through which you can purchase those assets. Thus, anything go wrong with Bitcoin will surely affect the altcoins too.
Bitcoin is the King of all cryptocurrencies hence it has altcoins such as ETH, LTC, DASH etc. as its followers\s but i get a litte confuse how bitcoin's supremacy tends to dictate the price rates of most altcoins.
In a bull market they tend to rise more than bitcoin: hence in a bull market the bitcoin dominance tends to lower.
Conversely in a bear market those coins tend to drop faster than bitcoin: the bitcoin dominance tends to rise.
it is not only about the speed of rise/drop. it is about the fact that there is only 1 bitcoin which is going against 1700 altcoins. that is why calling it "dominance" is wrong to begin with. if altcoins were good then the real dominance of bitcoin should have been 0.05% instead of forty something! being at forty... just proves that altcoins are indeed shitcoinsConversely in a bear market those coins tend to drop faster than bitcoin: the bitcoin dominance tends to rise.
I only found more interesting the first derivative of the dominance to the bitcoin price, rather than the value of dominance.
But you are correct and I do agree!
Will you ever see this post?
My two cents,
F1
I compare btc with gold and every other fiat is backed by it, so are the alts and when the crypto gold is not stable the alts follow it and if a 10% fall happens in gold than others experience much more fall than it and vice versa.
Mainly btc is the father of all the crypto coins based on this people actually follow the btc price if the price of btc increase then people like to invest more but if its fall then investors withdraw their money from market as a result altcoins also affected or victim .
Bitcoin is the King of all cryptocurrencies hence it has altcoins such as ETH, LTC, DASH etc. as its followers\s but i get a litte confuse how bitcoin's supremacy tends to dictate the price rates of most altcoins.
Bitcoin is the pioneer in crypto currencies and all the altcoins are valued only in bitcoin and not even in dollars.Until now,no other altcoin has been able to gain the trust of people worldwide. 
The last few months have been pretty crazy. There have been some steep climbs and heart-stopping drops making for a roller coaster of emotion that’s not easily controlled. The price action is both thrilling and at times, painful, so it’s easy to lose sight of what you’re investing in.
Bitcoin is the King of all cryptocurrencies hence it has altcoins such as ETH, LTC, DASH etc. as its followers\s but i get a litte confuse how bitcoin's supremacy tends to dictate the price rates of most altcoins.
The altcoins are really good right now. They have a good team and their performance is very strong. Coins like TAU, DRGN which are soon to be listed on binance can influence their prices themselves, there is no need for bitcoin to affect their prices. Bitcoin is the King of all cryptocurrencies hence it has altcoins such as ETH, LTC, DASH etc. as its followers\s but i get a litte confuse how bitcoin's supremacy tends to dictate the price rates of most altcoins.
In my opinion, all kinds of electronic money are attributed to the price of BTC. Therefore, the BTC has a great influence on the currencies, causing the market to fluctuate around the value of BTC. Bitcoin is the King of all cryptocurrencies hence it has altcoins such as ETH, LTC, DASH etc. as its followers\s but i get a litte confuse how bitcoin's supremacy tends to dictate the price rates of most altcoins.
I think at this point, the altcoins are working great. Coins like ICX, PRG are taking a lead and are coming up with amazing projects. PRG for example is super undervalued right now but its price shall increase and go really high. So, its performance itself can affect its price.
Well Bitcoin is the first cryptocurrency ever created. All the other coins/altcoins were created later on after copying the idea of Bitcoin. So they are kind of sired to Bitcoin. When Bitcoin goes down, they all go down and vice versa. Bitcoin is the King of cryptocurrencies and Satoshi is the father.
Also keep in mind that they don't always have a positive correlation in the market, sometimes when BTC is on the rise, others are on a fall as all traders have sold their altcoin position in order to participate in BTC's rally.
Sorry, I have never experienced a crypto negatively correlated to bitcoin. Do you have any meaningful data to support your claim?Tether is of course out of context here.
I don't know how that simple question lead some members here into answering altcoins being worthless. The question is how BTC is affecting other cryptocurrencies in the market. The answer is simple Bitcoin being the market leader means that BTC basically has control on where the market will go, its influence makes other altcoins go on a rally or a correction. But does it make other altcoins worthless? I don't think so, Ethereum and XRP (which you have mentioned are worthless) also have their own value based on their own demand. If they are worthless their value right now would be 0. Also keep in mind that they don't always have a positive correlation in the market, sometimes when BTC is on the rise, others are on a fall as all traders have sold their altcoin position in order to participate in BTC's rally.
Bitcoin is the King of all cryptocurrencies hence it has altcoins such as ETH, LTC, DASH etc. as its followers\s but i get a litte confuse how bitcoin's supremacy tends to dictate the price rates of most altcoins.
Actually, no matter how many and how much Altcoins you will keep but in the end it will be traded to Bitcoin to earn more fiat.
You won’t because the “good money” (BTC) will ultimately prevail over “bad money” (FIAT)
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While I don't disagree with your points, is it not acceptable for the creators to make money for their work? Satoshi's wallets hold a million Bitcoins.
that is exactly the problem right there. you are comparing two different things that are not even similar.
an altcoin dev who wants to become rich, premines his coin, runs an ICO,... so in an instance (usually without even doing much since they mostly copy code from each other) they gain a lot of coins which worth a lot of money.
now you say Satoshi, he did NOT premine bitcoin, he did NOT run ICO, he did NOT get paid to create bitcoin. what he did was that he (like many others) started mining bitcoin on a level playing field. if he owns 1 million bitcoin he deserves it, many others also own 1 million bitcoin since they mined in early days like Hal Finey for example.
... and that is a huge difference.
i don't think bitcoin being "supreme" or "king" has any effect on altcoins. if they were good then they would have grown in spite of bitcoin and whatever it is doing. the problem is that altcoins are no good.
and it is the same thing everywhere else too. for instance just because Apple exists and creates good cell phones it doesn't mean Samsung can not grow big and gain users. Samsung is also considered a good smart phone creator and millions of people use their product. but a Chinese company creating shitty phones is not capable of competing with them.
and it is the same thing everywhere else too. for instance just because Apple exists and creates good cell phones it doesn't mean Samsung can not grow big and gain users. Samsung is also considered a good smart phone creator and millions of people use their product. but a Chinese company creating shitty phones is not capable of competing with them.
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While I don't disagree with your points, is it not acceptable for the creators to make money for their work? Satoshi's wallets hold a million Bitcoins.
As the pioneer and successful by the existence, no doubt that Bitcoin is the most famous of crypto inside the space either outside. Bitcoin has inspired other altcoins so far and used by all altcoins as the main payment before go to FIAT. Logically, if Bitcoin price is falling refer to fiat then most of other altcoin will follow. Here is the simple case:
1 BTC = $6000.
1 XXX = 0.001 BTC ~ $6
If BTC is going to be $ 10000, then 1 XXX in BTC is (assumed to be same refer to BTC) still 0.001 but refer to FIAT will be $10000/$6000 ~ 10/6 times ~ 167% gain ($10). And vice versa, if 1 BTC become $ 4000, then 1 XXX in FIAT become:$4 as 67% of initial fiat value.
Even there is a few coins/tokens are not affected by BTC because the people are trusting these coins/tokens by it's utility as there is useful advantages on the project application provided to people.
1 BTC = $6000.
1 XXX = 0.001 BTC ~ $6
If BTC is going to be $ 10000, then 1 XXX in BTC is (assumed to be same refer to BTC) still 0.001 but refer to FIAT will be $10000/$6000 ~ 10/6 times ~ 167% gain ($10). And vice versa, if 1 BTC become $ 4000, then 1 XXX in FIAT become:$4 as 67% of initial fiat value.
Even there is a few coins/tokens are not affected by BTC because the people are trusting these coins/tokens by it's utility as there is useful advantages on the project application provided to people.
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