How much does Bitcoin affect other cryptocurrency?

Blitzboy

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Quote from: n0ne on May 22, 2023, 02:54:47 PM

Users who have travelled with cryptocurrency for a long will know about the reality of the market. Nowhere bitcoin push other cryptocurrencies down. It is the market that is developed to follow the footprints of bitcoin. This makes altcoins follow bitcoin and during the altcoin season we were able to experience bullish move with altcoins against the bitcoin market.

Altcoins were good and were developed for some purpose. Most of the time new cryptocurrencies were promoted making comparison against bitcoin. However none stay high in the market, so the base of bitcoin is very strong that it directs the rest of the market. Most of the time the development is the prime reason that make cryptocurrencies fail and it is not the bitcoin.

Your insight spotlights Bitcoin' transformative role in sculpting the crypto-market. Undeniably, as the premier digital currency, Bitcoin blazes the trail for many altcoins. Yet, pinning altcoin fortunes solely on Bitcoin simplifies the intricate market interplay. Altcoins arent mere Bitcoin replicas; they embody a sphere of ingenuity, striving to polish and amplify the pioneering blockchain tech of Bitcoin. Their juxtaposition with Bitcoin simply underscores their unique features and merits.

The roller-coaster ride of altcoins can be credited to their growth hiccups, market mood, and practical utility, among other things. Bitcoin, with its sturdy framework and wide acceptance, offers stability in this stormy market. Its sway is unquestionable, yet it doesn't hold the final say in an altcoin's destiny.

n0ne

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Users who have travelled with cryptocurrency for a long will know about the reality of the market. Nowhere bitcoin push other cryptocurrencies down. It is the market that is developed to follow the footprints of bitcoin. This makes altcoins follow bitcoin and during the altcoin season we were able to experience bullish move with altcoins against the bitcoin market.

Altcoins were good and were developed for some purpose. Most of the time new cryptocurrencies were promoted making comparison against bitcoin. However none stay high in the market, so the base of bitcoin is very strong that it directs the rest of the market. Most of the time the development is the prime reason that make cryptocurrencies fail and it is not the bitcoin.

SirLancelot

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Quote from: dlightag on May 17, 2023, 09:12:09 AM

This is a simple question and clear understanding with observation as we all believe in virtual money, which Bitcoin is the driving force of other cryptocurrency market, any moment Bitcoin dipped in the market, it affects other alt-coins instantly, so Bitcoin affect other alt-coins through price changes either negative or positive, Bitcoin is the reason why cryptocurrency market been active today in the cryptocurrency industries.

Simple question with a simple answer. Those who are here for a long time already knows the fact that you spit there. Not all believe in virtual money and those who believe, not all of them believe in crypto because they think it's only just a scam. I think there is still a little delay in bitcoin-altcoin synchronization. We can use this as an indication to do something which can help us to be profitable or avoid taking big risks.

Big credits to bitcoin because if not for it, there will also be no other cryptos but other cryptos do also contribute to attract the people in here because they have their own use case which are entirely different from bitcoin.

aylabadia05

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Quote from: Marvell1 on May 21, 2023, 11:25:39 AM

Quote from: aylabadia05 on May 21, 2023, 05:47:41 AM

Of course I thought that this was only temporary. This year it is clear that the market has not shown the movement we expected, including this May.
I would nod my head that stay away from altcoins in investing long term.

Are you expecting a recovering and bullish market this year? If so, we have another look at the market. I'm happy with what's happening, even a little sad that bitcoin has recovered quite quickly in the first few months of the year.

For some reason I hope the market recovers which will allow me to buy again at a price not much different from the current price.
In consideration of the long-term targets that I have set, yes, I feel that the market is recovering too quickly from what I imagined because since the beginning of 2023, I have sold all types of altcoins so that there are no more left and taking the proceeds from the sale I buy Bitcoin because my focus is now it's only on Bitcoin.

calonpa

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Quote from: Awraawra on May 11, 2023, 06:10:24 AM

I think bitcoin affects some cryptocurrency because the main market uses bitcoin. So if bitcoin goes down and ups also some crypto currencies follows bitcoin. The impact is always there. So don't worry about it because it's been nature in the crypto world.

The scenario has changed a lot. Now usdt is used in main market instead of bitcoin. Most people keep funds in usdt because of stability.

death69

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Quote from: yazher on May 21, 2023, 06:26:56 AM

Other altcoins are created for the purpose of getting the attention of bitcoin holders and they created some coins that are way too good than bitcoins in terms of their advancement, from the fast transaction to even lower payment for transaction fees, but there is only one thing that they cannot beat bitcoin, its decentralization. they failed to do so and they cannot do such a thing because if they sat unanimously, the mass won't gonna recognize their project and they will end up getting bankrupt because no one wanted to invest in them. that's why they choose their coins to be centralized even though they cannot beat bitcoins, they are getting some investors somehow.

Bitcoin is like the 'Mona Lisa' of the cryptoverse - copycats may try their luck, but they’ll always fall short of the OG. Sure, altcoins might strut around, peacocking their flashy bells and whistles, zippy transactions, and nickel-and-dime fees. But Bitcoin’s real mojo doesn't lie in its velocity or pocket-friendliness. No siree, it's rooted in its rugged reliability and trustworthy vibes, born from its decentralized and open-source DNA.

Decentralization isn't just some fancy shmancy word; it’s the incarnation of a fiscal free-for-all. By kicking central control to the curb, Bitcoin hands the reins over to its users, a move that leaves altcoins struggling to keep up.

Now, wouldn’t it be a hoot if an altcoin could rock the decentralization gig without ditching its unique hooks? Could it seriously duke it out for Bitcoin's crown, or would the crypto tribe stay true to their first love? Grab your popcorn, folks. Only time will spill the beans.

Wend

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Quote from: yazher on May 21, 2023, 06:26:56 AM

Other altcoins are created for the purpose of getting the attention of bitcoin holders and they created some coins that are way too good than bitcoins in terms of their advancement, from the fast transaction to even lower payment for transaction fees, but there is only one thing that they cannot beat bitcoin, its decentralization. they failed to do so and they cannot do such a thing because if they sat unanimously, the mass won't gonna recognize their project and they will end up getting bankrupt because no one wanted to invest in them. that's why they choose their coins to be centralized even though they cannot beat bitcoins, they are getting some investors somehow.

Apart from decentralization is bitcoin's biggest advantage that no other altcoin can beat it. I think the altcoin market is not really a technology focused market they are focused on selling tokens and making money. So when they make enough money, they will find a way to give it up, and knock it down to rebuild newer games. We can easily see the mass collapse of altcoins every time bear season comes. While bitcoin was created, focusing entirely on technology to create a solution that frees us from dependence on Fiat. That's a huge difference between the two.

riskarcher

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Quote from: yazher on May 21, 2023, 06:26:56 AM

Other altcoins are created for the purpose of getting the attention of bitcoin holders and they created some coins that are way too good than bitcoins in terms of their advancement, from the fast transaction to even lower payment for transaction fees, but there is only one thing that they cannot beat bitcoin, its decentralization. they failed to do so and they cannot do such a thing because if they sat unanimously, the mass won't gonna recognize their project and they will end up getting bankrupt because no one wanted to invest in them. that's why they choose their coins to be centralized even though they cannot beat bitcoins, they are getting some investors somehow.

That's true, The purpose of altcoin is to be replacement bitcoin and they don't achieve decentralization like bitcoin. It's doesn't matter if the coin is don't have any utility, atleast they have the purpose to be decentralize not centralize like now. Many manipulation on crypto due to altcoin they created for their own benefit such FTX it's really sucks because they have full control of their own system

Marvell1

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Quote from: aylabadia05 on May 21, 2023, 05:47:41 AM

Quote from: Marvell1 on May 20, 2023, 06:37:23 AM

I'm sorry, but I won't agree with your argument. Supply is just one of many factors that help bitcoin increase in price, creating a coin with a limited supply is not difficult. Limited supply plus high demand, when demand exceeds supply, then can cause the price of that coin to spike. Take a look at ETH, it has an unlimited supply, but it is undeniable that the return it brings to investors is not inferior to bitcoin.

It doesn't matter if there are different views on seeing the difference because I also don't equate all types of altcoins.
Ethereum can still be expected to return by investors who choose it, but other altcoins may not be like Ethereum.

When ETH was first launched and it was compared to bitcoin, many people were skeptical about the future of ETH, and they thought it was going nowhere. But the results have shown that many people are wrong not to trust ETH. For altcoins, finding a coin like ETH isn't easy, but that does not mean there is absolutely none. We wouldn't believe it until it happened and admitted that we were wrong.
Currently, altcoins are more for gambling than investing, but it can be seen that the market is getting bigger and bigger, and many projects are starting to get more serious about building their projects. I believe that with just a little more time, there will be many things worth reconsidering with this market.

Quote from: aylabadia05 on May 21, 2023, 05:47:41 AM

Quote from: Marvell1 on May 20, 2023, 06:37:23 AM

Furthermore, investing in bitcoin these days cannot yield better returns than investing in altcoins. Since the altcoin market is a pumping and dumping playground, it does not need to depend on supply or technology, but its value depends on pumping, its returns will sometimes be higher than bitcoin brings. But in the long run, altcoins will never be safer than bitcoin, stay away from altcoins if you want to invest long term.

Of course I thought that this was only temporary. This year it is clear that the market has not shown the movement we expected, including this May.
I would nod my head that stay away from altcoins in investing long term.

Are you expecting a recovering and bullish market this year? If so, we have another look at the market. I'm happy with what's happening, even a little sad that bitcoin has recovered quite quickly in the first few months of the year.

yazher

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Other altcoins are created for the purpose of getting the attention of bitcoin holders and they created some coins that are way too good than bitcoins in terms of their advancement, from the fast transaction to even lower payment for transaction fees, but there is only one thing that they cannot beat bitcoin, its decentralization. they failed to do so and they cannot do such a thing because if they sat unanimously, the mass won't gonna recognize their project and they will end up getting bankrupt because no one wanted to invest in them. that's why they choose their coins to be centralized even though they cannot beat bitcoins, they are getting some investors somehow.

smile1218

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Bitcoin can have a significant impact on other crypto currencies. This is because Bitcoin is often seen as a bellwether for the entire crypto currency market. When Bitcoin experiences significant price movements, it can cause other crypto currencies to follow its movement. Bitcoin's dominance in the market can cause the investors to shift their focus away from other crypto currencies. Finally, Bitcoin's network effects and widespread adoption can also impact the success of other crypto currencies.

aylabadia05

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Quote from: Marvell1 on May 20, 2023, 06:37:23 AM

I'm sorry, but I won't agree with your argument. Supply is just one of many factors that help bitcoin increase in price, creating a coin with a limited supply is not difficult. Limited supply plus high demand, when demand exceeds supply, then can cause the price of that coin to spike. Take a look at ETH, it has an unlimited supply, but it is undeniable that the return it brings to investors is not inferior to bitcoin.

It doesn't matter if there are different views on seeing the difference because I also don't equate all types of altcoins.
Ethereum can still be expected to return by investors who choose it, but other altcoins may not be like Ethereum.

Quote from: Marvell1 on May 20, 2023, 06:37:23 AM

Furthermore, investing in bitcoin these days cannot yield better returns than investing in altcoins. Since the altcoin market is a pumping and dumping playground, it does not need to depend on supply or technology, but its value depends on pumping, its returns will sometimes be higher than bitcoin brings. But in the long run, altcoins will never be safer than bitcoin, stay away from altcoins if you want to invest long term.

Of course I thought that this was only temporary. This year it is clear that the market has not shown the movement we expected, including this May.
I would nod my head that stay away from altcoins in investing long term.

tygeade

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Quote from: aylabadia05 on May 20, 2023, 05:15:17 AM

Quote from: CYBER_COWBOY on May 11, 2023, 04:54:46 AM

My real question maybe is. If cryptocurrency´s follow each other. whats the difference if you invest in BTC or ETH or USDT for example. If you invest in all three $1000 each.
How will it look at each invest after example 12 months? I understand its impossible to predict something like this, but some guideline.
If they follow each other very often with +/- then the profit/loss should not be a huge difference?

Total volume of Bitcoins with altcoins so the Returns that make the difference between investing in Bitcoins with altcoins or USDT.
I am more inclined to judge that investing in altcoins may not get a large return because the number of altcoin supplies is very large. This is different from USDT, which is relatively stable, allowing people to only accumulate money if they choose USDT.

Investors prefer the long term to Bitcoin although there are those who prefer big altcoins like Ethereum.
Making an equation on Bitcoin with the types of crypto that exist today will not be the same even though crypto always follows the movement of the rising or falling price of Bitcoin.

I think preferring big names are fine. I have most of my investment in bitcoin as well but I also have a lot less in other stuff too ,like I have ETH worth half of what my btc worths, but it is there and I trust that it will do fine and BNB that is nearly half of my eth levels as well and equal amounts in LTC as well.

These are my big four investments and I will trust them to the moon and back. I know that many people see it differently and not like this but that is my approach and if I am wrong then I do not wan to be right about anything else. People can trust all those low rank cap stuff so they can get rich quick but I do not want to be part of that and I am fine about the current situation of my portfolio and has always been bringing me profit during bull periods.

S A KHAIR

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Quote from: raumonds on May 18, 2023, 12:49:19 AM

It's like they're playing follow the leader in the crypto playground. Bitcoin takes the lead, and others often tag along. Investing in different cryptos diversifies your portfolio, so you can enjoy the dance moves of each coin.

Investing in altcoins can be seen as portfolio diversification. But you need to know that it will not reduce your investment risk because, as you said, it all depends on bitcoin. If bitcoin falls then no altcoin can rise. But diversifying with altcoins that can maximize their returns grows unevenly. Bitcoin can go up 100%, but many altcoins can increase by several thousand percent.

Smack That Ace

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Quote from: taufik123 on May 17, 2023, 05:52:55 AM

Quote from: Smack That Ace on May 17, 2023, 04:18:21 AM

Holding USDT and staking for profit is your choice, I can't ban you or give advice because I'm not sure I'm better than you. But I just want to remind you, Binance is the biggest exchange, but that doesn't mean it's safe and you can completely trust them. They will be safe until they go bankrupt and your assets disappear without notifying you. It is a risk when we use centralized services, I hope you are aware of that. Instead of staking, I will hold bitcoin for the long term, and I believe the return will be much better than staking, and my assets are also safer.

Everyone has their own choices. it will be their responsibility when there are some losses or something like that.
Binance is a CEX platform that is currently widely used by crypto users including me, but it is necessary to be aware of the dangers that always surround it because nothing is safe even though Binance is the top exchange.

Risking and holding USDT is a fairly safe option, but holding Bitcoin for the long term can be a recommendation for those who want to invest long-term.
I have some Bitcoin in my personal wallet and it's safe enough without anyone else being able to reach it.
But it all comes back to your own choices, the risks will be borne by yourself.

I am also using Binance, but we need to use it for the right purpose, not overdo it or trust it completely. Binance or any centralized exchange is used for buying, selling, and exchanging, not a place for us to trust to store our money on it for a long time. And staking has been one of our asset storage services for a long time before making a profit. But you're right. It's his choice anyway, we don't have the right to tell him what to do and what not to do.

Marvell1

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Quote from: aylabadia05 on May 20, 2023, 05:15:17 AM

Quote from: CYBER_COWBOY on May 11, 2023, 04:54:46 AM

My real question maybe is. If cryptocurrency´s follow each other. whats the difference if you invest in BTC or ETH or USDT for example. If you invest in all three $1000 each.
How will it look at each invest after example 12 months? I understand its impossible to predict something like this, but some guideline.
If they follow each other very often with +/- then the profit/loss should not be a huge difference?

Total volume of Bitcoins with altcoins so the Returns that make the difference between investing in Bitcoins with altcoins or USDT.
I am more inclined to judge that investing in altcoins may not get a large return because the number of altcoin supplies is very large. This is different from USDT, which is relatively stable, allowing people to only accumulate money if they choose USDT.

Investors prefer the long term to Bitcoin although there are those who prefer big altcoins like Ethereum.
Making an equation on Bitcoin with the types of crypto that exist today will not be the same even though crypto always follows the movement of the rising or falling price of Bitcoin.

I'm sorry, but I won't agree with your argument. Supply is just one of many factors that help bitcoin increase in price, creating a coin with a limited supply is not difficult. Limited supply plus high demand, when demand exceeds supply, then can cause the price of that coin to spike. Take a look at ETH, it has an unlimited supply, but it is undeniable that the return it brings to investors is not inferior to bitcoin.
Furthermore, investing in bitcoin these days cannot yield better returns than investing in altcoins. Since the altcoin market is a pumping and dumping playground, it does not need to depend on supply or technology, but its value depends on pumping, its returns will sometimes be higher than bitcoin brings. But in the long run, altcoins will never be safer than bitcoin, stay away from altcoins if you want to invest long term.

aylabadia05

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Quote from: CYBER_COWBOY on May 11, 2023, 04:54:46 AM

My real question maybe is. If cryptocurrency´s follow each other. whats the difference if you invest in BTC or ETH or USDT for example. If you invest in all three $1000 each.
How will it look at each invest after example 12 months? I understand its impossible to predict something like this, but some guideline.
If they follow each other very often with +/- then the profit/loss should not be a huge difference?

Total volume of Bitcoins with altcoins so the Returns that make the difference between investing in Bitcoins with altcoins or USDT.
I am more inclined to judge that investing in altcoins may not get a large return because the number of altcoin supplies is very large. This is different from USDT, which is relatively stable, allowing people to only accumulate money if they choose USDT.

Investors prefer the long term to Bitcoin although there are those who prefer big altcoins like Ethereum.
Making an equation on Bitcoin with the types of crypto that exist today will not be the same even though crypto always follows the movement of the rising or falling price of Bitcoin.

dansus021

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YEah bitcoin is like a king of crypto or just simply like Mr Powell's speech when Mr powel said want to raise interest rate the whole market stock commodities forex and government bond is moving various movement. it happen to bitcoin to and its different you can simply invest on bitcoin and forget about it or try more volatile asset on altcoin so if bitcoin up the altcoin can up 2x percent than bitcoin vice versa.

tjtonmoy

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Quote from: Bushdark on May 18, 2023, 07:19:41 PM

~snip

Newbies make this kind of mistake the most. Bitcoin is growing because it is decentralized. Other currencies are centralized. This is why how much potential they show, they can not go over Bitcoin. Thinking that every cryptocurrency will go up with Bitcoin's price pumping is a misunderstanding amongst newbies. There are other coins which I have seen showed potential when the Bitcoin price was declining. Maybe some trend, maybe market sentiments, who knows? That actually proves that not everything is connected with Bitcoin. But the fact that Bitcoin is the most recognized currency in Crypto world, its price movement actually have an impact over the whole Crypto market.

Bushdark

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Quote from: tjtonmoy on May 18, 2023, 07:32:42 AM

Market sentiments is the key between price movements, which shows some kind of connection between Bitcoin and other cryptocurrencies. As bitcoin is the most well known currency in the world, and it is on the top of every list, its price movements can have a great impact on all over the crypto market. So all that leads to is sentiments over the market. But there is no such connection between any cryptocurrency. They all have their own type of functionality and ecosystem.

It is still very clear to us that Bitcoin have so much effect on other Cryptocurrencies which could be surprising to many of us that can tardets and investors. When Bitcoin falls, we do see that other cryptocurrencies in the market are falling too. When Bitcoin go higher in price, we do see that even the weakest coin will go up due to the bull movement that Bitcoin had created.

This had been happening for many years and we may still be surprised or not that clear why the market is doing that. Many altcoins projects are always pumping there prices so that investors can see opportunity to make gain and for those that may not be aware of the spike, they might think that the price of that coin will increase gradually and might be tempted to buy more.

Topic: How much does Bitcoin affect other cryptocurrency? (Read 677 times)