Topic: How much does Bitcoin affect other cryptocurrency? - page 2. (Read 757 times)
Simply put, this market is created by bitcoin, bitcoin is the pioneer cryptocurrency and is considered the safest to date. After all, other altcoins are all improved copies of bitcoin, but they are nothing more prominent or reliable than bitcoin. So bitcoin will continue to dominate this market. But over time, I think this dominance will decrease, years ago, bitcoin dominance was more than 80%, in recent years, that number is only 40-50%.
Bitcoin is the reigning coin and almost all investors, enthusiasts or traders prefer to enter the niche of this coin and invest in it. Even people who have invested in other crypto coins still have their base with crypto, having some coins to purchase there and sell off. Cryptocurrencies, like bitcoin, opened our eyes to the possibilities of decentralization and the downsides of centralized systems. Traders can trade futures and speculate on the future price movements of cryptocurrencies. Market sentiments is the key between price movements, which shows some kind of connection between Bitcoin and other cryptocurrencies.
we know the dominance of bitcoin market capitalization which is of course almost half of the total thousands of existing altcoin market capitalization. From there, of course, we can imagine that it is not strange that bitcoin has the influence of market movements on other altcoins, so that it can be used as a formula for making transactions on altcoins, because the movement follows Bitcoin.
Bitcoin is the reigning coin and almost all investors, enthusiasts or traders prefer to enter the niche of this coin and invest in it. Even people who have invested in other crypto coins still have their base with crypto, having some coins to purchase there and sell off. Cryptocurrencies, like bitcoin, opened our eyes to the possibilities of decentralization and the downsides of centralized systems. Traders can trade futures and speculate on the future price movements of cryptocurrencies. Market sentiments is the key between price movements, which shows some kind of connection between Bitcoin and other cryptocurrencies.
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 also important to take into account the dominance bitcoin has over this market, right now it has a dominance of 44%, however if we discard the fake market cap many coins have, stable coins and other centralized projects, then we will soon find out that bitcoin has a dominance over this market way higher than expected, so it is natural that if the price of bitcoin begins to go down the the rest of the altcoins also follow bitcoin and begin to go down as well.
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'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.
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.
Bitcoin increased market liquidity, compelling most projects to follow in its tracks because it is the premier project that has gained popularity around the world. It's a strong concept with greater potential for future applications; we should only invest carefully in bitcoin if we want to stay in the crypto market. Bitcoin's simple presence in the market has an impact on other cryptocurrencies because it is just one of the leading coins in the field with a big trading volume. Altcoins such as ETH bend to follow bitcoin's dramatic up and down movement. If bitcoin falls, it falls as well, and vice versa. 
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?
Now let's consider the actual cryptocurrencies which doesn't have stable value and the value is determined by demand and supply then each is unique and there is no necessary to follow each other but most often we can see when BTC goes up ETH, and other shitcoins goes up too because of people and their emotions furthermore the price change of BTC is not precisely proportional with ETH so there is difference and only time will tell what will be their actual growth in the next 12 months.
Hello. A newbie is wondering some stuff 
I am follow an account on Instagram that shows how much bitcoin and some other cryptocurrency´s are worth every 24 hours. and something I have noticed is almost every time bitcoin goes up many other also go up.
And when bitcoin goes down many other also go down, of course this don´t apply everyday and all currency´s.
I upload a picture of two days how it shows ( https://imgur.com/YYJRX7F this is two different days and it looks like this)
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?
Are cryptocurrency holding each other hand in hand in someway or are they independent. It seems that they share something with each other that I don´t know anything about.
I am far away from an expert on this but I am sure many on this forum is and gladly hear what you guys & girls thinks about it.
Wish you the the best.
Best regards CC!
I am follow an account on Instagram that shows how much bitcoin and some other cryptocurrency´s are worth every 24 hours. and something I have noticed is almost every time bitcoin goes up many other also go up.
And when bitcoin goes down many other also go down, of course this don´t apply everyday and all currency´s.
I upload a picture of two days how it shows ( https://imgur.com/YYJRX7F this is two different days and it looks like this)
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?
Are cryptocurrency holding each other hand in hand in someway or are they independent. It seems that they share something with each other that I don´t know anything about.
I am far away from an expert on this but I am sure many on this forum is and gladly hear what you guys & girls thinks about it.
Wish you the the best.
Best regards CC!
I suppose it happens because most investors involved into crypto trading don't see any difference between BTC and alts at this point of crypto development: if they are interested, they start buying whatever they see, and if the interest fades, then they are eager to get rid of all the crypto stuff. That's why price fluctuations of all the cryptocurrencies are quite synchronized.
Simply, Bitcoin has a remarkable influence on almost all cryptocurrencies due to it’s the most famous coin and it has the hugest market cap value and price as well . In addition to that, remember that Bitcoin is decentralized digital coin and the majority of altcoins in market are decentralized too ( like 20K/24k coins ) it means if Bitcoin goes down, the whole market will follow it and the opposite is true. Regarding your real question, to be begin with, USTD is a stable coin 1 usdt = almost $1. Let me simplify it for you, if you invest any amount in a stable coin, you will not make any profit neither loss. The amount will basically stay the same. In fact, Bitcoin and Ethereum provide a secured returns but in long term unlike the other cryptocurrencies. If you invest $1000 in each one, you will probably make an accurate profit value.
USDT is a good alternative to fiat as it would be very labor intensive to go into fiat every time. USDT is very well suited to take profits and wait for some time before a new purchase, and if you no longer plan to use some part for further investments, then of course you should cash them out.
You can try to find an altcoin that will rise when bitcoin is flat or fall, but this is not an easy task. Basically, we see the market following bitcoin, so I don't see the point in looking for an altcoin that will bring in more profits compared to bitcoin, and when there is a risk that the price of this altcoin may fall significantly.
I agree, but I would change the coin, I think BUSD a lot more trustworthy. Why? Because USDT only has USDT and no other income, if they profit they profit, if they don't then they don't. On the other hand, BUSD has binance behind it, which means even if you were to get all of the BUSD's stolen, which would drop the value to BUSD, then binance could come out, say they will take snapshot of the moment before the hacking, and then distribute everyone their BUSD back, and they can cover it 1 to 1 ratio with the profits they made, they already have tens of billions of dollars in profit to begin with, so they can cover it easily.You can try to find an altcoin that will rise when bitcoin is flat or fall, but this is not an easy task. Basically, we see the market following bitcoin, so I don't see the point in looking for an altcoin that will bring in more profits compared to bitcoin, and when there is a risk that the price of this altcoin may fall significantly.
There is a lot bit of difference between them, one of them is trustworthy because of the company behind it, the other is being sued right now.
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.
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.
()
...It seems worth it as long as it's a large exchange like Binance. Moreover, if you save in a bank, you must save a large amount to get bank savings interest rates. If the amount of money is small, I'm afraid it will only be to pay for the expenses that you have to pay each month. If so, in my opinion, it's better just to stake USDT on the exchange because there are no fees when we stake the USDT. But each people will have their own plan for what to do regarding the market situation.
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.
One cryptocurrency coin is not dependent on other coins, but most of the crypto currency coins are dependent on Bitcoin, that is, as the price of Bitcoin increases or decreases, the value of other crypto currency coins has some effect. If you invest the same amount of money in different coins at the same time and if you sell those investments at a certain time then you will see some variation of profit. That is, you will get one type of profit from Bitcoin investment, you will get a different profit from ETH investment, or you will get a different profit from BNB investment. Because these two coins depend on Bitcoin but the three coins have different market values.
Hello. A newbie is wondering some stuff
I am follow an account on Instagram that shows how much bitcoin and some other cryptocurrency´s are worth every 24 hours. and something I have noticed is almost every time bitcoin goes up many other also go up.
And when bitcoin goes down many other also go down, of course this don´t apply everyday and all currency´s.
~
Are cryptocurrency holding each other hand in hand in someway or are they independent. It seems that they share something with each other that I don´t know anything about.
~
The existence of crypto digital currency in this world, initiated and pioneered by the birth of bitcoin. So it is certain, as a whole the crypto that exists now, must follow the example of bitcoin. Even so, existing crypto besides bitcoin or commonly called altcoin, has a big difference in terms of quality and security. Everyone who invests in crypto must already know that bitcoin is decentralized, and has the most stable price value among other cryptos. So the problem of price equality that you are asking about, between bitcoin and other cryptos, in my opinion, is actually a habit of crypto traders. Automatically the habit becomes a cycle and has been embedded in the minds of all investors in bitcoin/crypto. Because even though all cryptocurrencies follow in the footsteps of bitcoin, when it comes to increasing or decreasing prices, it's actually not related. So in conclusion from your question, it's just a habit that becomes a cycle in the crypto investment world. I am follow an account on Instagram that shows how much bitcoin and some other cryptocurrency´s are worth every 24 hours. and something I have noticed is almost every time bitcoin goes up many other also go up.
And when bitcoin goes down many other also go down, of course this don´t apply everyday and all currency´s.
~
Are cryptocurrency holding each other hand in hand in someway or are they independent. It seems that they share something with each other that I don´t know anything about.
~
The reason for the decrease in price of other cryptocurrency coins with bitcoin is that almost all coins are listed on the exchange in bitcoin pair, so if the price of bitcoin decreases or increases, it automatically affects other altcoins. For example, if the price of a token is 100 satoshi, then if the price of bitcoin increases, it will definitely increase relative to the dollar, if the price of bitcoin decreases. The price of that token will fall against the dollar. this is how the price of the token in the market fluctuates with Bitcoin
This as well, plus considering that when you think of crypto, you know you're dealing with Bitcoin but then you found out that there are whole plenty of coins out there. That's what my thought process at the least back in those days of my first few days in crypto.ETH is also worth mentioning in token pairs. I see that pair quite a lot, well because it is non-Bitcoin.
The reason for the decrease in price of other cryptocurrency coins with bitcoin is that almost all coins are listed on the exchange in bitcoin pair, so if the price of bitcoin decreases or increases, it automatically affects other altcoins. For example, if the price of a token is 100 satoshi, then if the price of bitcoin increases, it will definitely increase relative to the dollar, if the price of bitcoin decreases. The price of that token will fall against the dollar. this is how the price of the token in the market fluctuates with Bitcoin
This as well, plus considering that when you think of crypto, you know you're dealing with Bitcoin but then you found out that there are whole plenty of coins out there. That's what my thought process at the least back in those days of my first few days in crypto.ETH is also worth mentioning in token pairs. I see that pair quite a lot, well because it is non-Bitcoin.
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.
This is true to some cases though I do not expect each alts to just follow Bitcoin price movements literally. I can still recall when I was tempted to day trade Bitcoin before, but I was trying out altcoin. All turned out to be losses just because I went for the shitty coins.Bitcoin was kinda it is bearish days that time so I kinda understand where my losses came from.
The reason for the decrease in price of other cryptocurrency coins with bitcoin is that almost all coins are listed on the exchange in bitcoin pair, so if the price of bitcoin decreases or increases, it automatically affects other altcoins. For example, if the price of a token is 100 satoshi, then if the price of bitcoin increases, it will definitely increase relative to the dollar, if the price of bitcoin decreases. The price of that token will fall against the dollar. this is how the price of the token in the market fluctuates with Bitcoin
This as well, plus considering that when you think of crypto, you know you're dealing with Bitcoin but then you found out that there are whole plenty of coins out there. That's what my thought process at the least back in those days of my first few days in crypto.ETH is also worth mentioning in token pairs. I see that pair quite a lot, well because it is non-Bitcoin.
You can try to find an altcoin that will rise when bitcoin is flat or fall, but this is not an easy task. Basically, we see the market following bitcoin, so I don't see the point in looking for an altcoin that will bring in more profits compared to bitcoin, and when there is a risk that the price of this altcoin may fall significantly.
Finding an altcoin that can bring big profits is not easy, and not everyone can do it. but if you want to find altcoins that are more profitable than bitcoin and still pretty safe, we also have eth and bnb. imo, they are reliable altcoins to invest in even though they won't be as safe as bitcoin, but their returns will definitely be better.
investing in altcoins is not so bad because of the returns it brings, but it is not suitable for too many people because its risks are pretty large compared to bitcoin. better to put a small part of the money in altcoins, most of it should be invested in bitcoin.
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