How much of a bump will BTC get from Eth crashing?

nururochac

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Quote from: Kprawn on June 19, 2016, 12:45:31 PM

I think it depends on why someone invested in ETH in the first place. If someone invested into ETH because of the hype, they might exit the scene completely and just take the fiat option. If someone

invested into ETH to hedge against Bitcoin and only having a single basket of Crypto currencies, they might just sell to buy some other Alt coin to keep it diversified. There were a lot of trash talk

both ways between ETH and Bitcoin supporters and they seem to be in competition... so I doubt that ETH supporters will just start buying Bitcoin again. Roll Eyes

I think most ETH coin holder are not supporting specific, they are investors that use to think they can profit in specific coin. So if something happened with ETH, there surely people that shift to bitcoin for safety and secure profit. No one wants to lose coins.

bit1

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Quote from: nururochac on June 19, 2016, 11:05:00 AM

Quote from: DodoB on June 18, 2016, 03:09:39 PM

Why should it have an effect? they are 2 separate currencies,and i don't think etherium is that popular..

I think they are talking about the recent issue of DAO. The hacker didn't even sold even a single ETH, they locked up the child DAO which the hacker transferred it to.

True, He didn´t sold but investors lost confidence and they sold, It was on levels $20 and after crash $12.
While than the BTC value remained the same on this event.

crairezx20

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Possible will increase price of bitcoin i think around $50-$100 if more ethereum investors are converting into bitcoin if not they withdraw ethereum in usd.. instead.. but i am sure that the price of bitcoin will increase more nearly block halving..

MingLee

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Bitcoin maybe got a $20 bump from the crash of ETH, but I have no idea where it is going to go once Ethereum starts gaining traction again.

Ethereum maybe affects $50 of the Bitcoin value max, and that's the big investors who constantly flip back and forth. Unless someone can give a better example, that seems to be the most I can see Ethereum investors affecting the Bitcoin value directly.

Kaller

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Quote from: MatTheCat on June 18, 2016, 02:19:50 PM

Quote from: silverbox on June 18, 2016, 02:10:21 PM

Cause you know all that Eth being sold is parking in BTC...

Yep..ETH and BTC have inversely correlated for months now....

I have however, yet to hear a good explanation as to why this is the case.

Why does people selling ETH for BTC, which are sitting on an exchange, after someone has already bought the BTC with USD; have to result in people trading in BTC for USD?

This does not make sense.

The price of Ethereum is dropping for the last 30 hours, but the bitcoin price did not rise at all. This incident will affect people's confidence in bitcoin as well.

Kprawn

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I think it depends on why someone invested in ETH in the first place. If someone invested into ETH because of the hype, they might exit the scene completely and just take the fiat option. If someone

invested into ETH to hedge against Bitcoin and only having a single basket of Crypto currencies, they might just sell to buy some other Alt coin to keep it diversified. There were a lot of trash talk

both ways between ETH and Bitcoin supporters and they seem to be in competition... so I doubt that ETH supporters will just start buying Bitcoin again. Roll Eyes

coin_gambler

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Quote from: silverbox on June 18, 2016, 02:10:21 PM

Cause you know all that Eth being sold is parking in BTC...

if people will be going to bitcoins with all those ethereum money then in my opinion the price is going to be dumped real hard because most probably people will sell those bitcoins

but the price of ethereum is not going down any more thus it means that people are now actually waiting and the price might be stable or it might even possibly grow a little bit

~Bitcoin~

legendary

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I don't think much of traders will be dumping ETH for fiat currently better they are converting them to bitcoin to keep profit from bitcoin uptrend this will not make more money to flow into bitcoin to increase marketcap however bitcoin price will be stable due to this.

nururochac

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Quote from: DodoB on June 18, 2016, 03:09:39 PM

Why should it have an effect? they are 2 separate currencies,and i don't think etherium is that popular..

I think they are talking about the recent issue of DAO. The hacker didn't even sold even a single ETH, they locked up the child DAO which the hacker transferred it to.

2double0

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Filtering ETH out of bitcoins takes ETH nowhere, but it also doesn't matter into bitcoins as both are on different paths.
ETH was hacked or not, but dumped, bitcoins are being pumped and will get dumped after halving, that's the only truth.

ebookscreator

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We dont know ifif ethereum investor will convert into bitcoin but if all investor will convert into bitcoin until now we will see much more increase or much bump price this coming block halving i think 10% to 30% will increase for bitcoin price if it will happen..

Pursuer

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Where is my ring of blades...

Quote from: silverbox on June 18, 2016, 02:10:21 PM

Cause you know all that Eth being sold is parking in BTC...

interesting idea but I don't think the effect is going to be that big, although there is already a little rise in bitcoin price. because a lot of people are dumping ETH for BTC not for USD and then buying BTC with USD, so it can't affect the btc/usd price.

Quote from: john2231 on June 19, 2016, 02:52:31 AM

I think ethereum will not back again for the price before because of they are already desctroyed and many people now not trusting ethereum.. more price decrease is coming and its impossible to recover from 0.025+ back to below 0.001 or below of this price.. don't expect for ethereum and i think devs will make another one..

yeah this is most probably what is going to happen to eth, recovering from this dump (-39%) is not possible. although you never know with these coins that have a huge premine and are being controlled tightly.

john2231

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I think ethereum will not back again for the price before because of they are already desctroyed and many people now not trusting ethereum.. more price decrease is coming and its impossible to recover from 0.025+ back to below 0.001 or below of this price.. don't expect for ethereum and i think devs will make another one..

DarkThrones

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Probably will bump it up a few %. ETH is not big enough to really make a dent in Bitcoin any way but as people no doubt lose their faith in ETH after the catastrophic failure and even bigger talks of expected hard or soft forks they will go back into big daddy bitcoin.

hermanhs09

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I think this Ethereum crash just proves that Ethereum is very vulnerable to large dumps, more so than bitcoin is. Bitcoin at least have almost 10x the Ethereum market capitalization right now.

so yeah, I think that the price of BTC will be affected in a positive way by this

Cyaren

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Quote from: silverbox on June 18, 2016, 02:10:21 PM

Cause you know all that Eth being sold is parking in BTC...

Eth pretty much crashed 50% against BTC in the past few days, so it pretty much rewards anyone who have trusted BTC and held it. The ones who held BTC instead of Eth have seen a positive profit instead of a huge red one.

I think that shitcoins will die off eventually, so BTC will go up.

infofront

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Shitcoin Minimalist

There are very few journalists or mainstream news organizations that are familiar with ETH. I haven't seen or heard anything in the media about the hack. I just searched cnn.com for "etherium", resulting in 0 hits. The same search for "bitcoin" produced 209 hits.

The hack of ETH will not negatively affect BTC's credibility in the eye's of the public. ETH is just some shitcoin that no one, outside of a few nerds on this forum, have ever heard of.

BitcoinNewsMagazine

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Bad news about any cryptocurrency can flow downhill to affect bitcoin, causing new investors to be wary about investing at all, even in bitcoin.

Sniper44

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Quote from: zby on June 18, 2016, 02:38:12 PM

For any outsider the ETH crash will be a warning before investing in BTC. I think we'll have less in-flowing money because of it.

this doesn't even make any sense!

any outsider! doesn't even know about ethereum before bitcoin. so if they hear about cryptocurrencies they are going to hear about bitcoin first and then here that there is this one other thing called and alt(shit)coin which is being pump and dumped and there is a lot of spam that says it is good (while it really is not)

besides if an outsider is that ignorant let them take a warning and stay away, one panic seller less in the market is better. good riddance Cheesy

justspare

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Everyone thought that ETH was going to overtake Bitcoin and I guess that failed miserably. Bitcoin rose quite a bit already but it is now stuck at $750. I hope it keeps going up.

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