Topic: INFLUENCE OF BITCON ON ETHEREUM's PRICE (Read 341 times)

Yeah I was not aware about rules but now i have read almost all of them.
So thanks for your advise

First of all, writing your post in upper case mean you are shouting which is against the forum rules and I will advise you not to do so next time so you wont be penalized.

Bitcoin will hit the price range you mentioned but there is huge chance that it will may not happen this year cause the whales seems to manipulate the market price once it experience some surge in price which the reason why the market experienced dump as soon as a major pump. However, the altcoin market shouldn't be expected to make new ATH once Bitcoin does because Bitcoin always leads for days.

At this point ethereum is 600 dollars and that is really weird to me. This is the same coin that was around 150 dollars at the start of the year, we made over x4 profit on ethereum and it is second biggest coin. When you are talking about big coins like bitcoin, ethereum and even ripple, you are not used to these coins making these type of big increases, XRP made over x2 return, closer to x3 right now, bitcoin did a x2 increase, ethereum did a x4 return this year.

I mean normally when we are talking about these type of returns, we are talking about smaller coins that can x10 and some of them does that, but not the top 5 coins. Hopefully this doesn't go down too bad, I know that we can't keep going x4+ returns constantly, that would not be sustainable, but I really hope we also do not crash.

Isn’t this just timely due to ETH 2.0 launch plus the hype Vitalik and co. has been making for ethereum? For the past few months, eth and other alts are sitting on the sidelines with no significant price increases on them, save for a 1 or 2% changes per day on most altcoins. ETH’s current run is mainly due to ETH 2.0 IMO, but was only exacerbated by the hype crypto is receiving from all fronts in general. I wouldn’t say that ETH’s price movement is parallel, or should at least follow bitcoin’s since the former has already made a robust and solid market of its own. It’s completely coincidental, just like other previous cases, not unless ETH holds its momentum similar to bitcoin.

Bitcoin is very near to all time high but ethereum is very far from its all time high value. This means if you can enter in ethereum now, you can make a lot more profits. Eth 2.0 will further push ethereum price and i hope it will break its all time high within 2-3 months.

There's no direct correlation between the market price of cryptos.
Indeed, in most of the times, whenever the market price of Bitcoin is increasing at a high rate, the market price of ethereum and other alts are as well in upward movement. But there are also days wherein Ethereum's price is increasing while Bitcoin's value is not. This simply voids the relation between their market prices. I'd look at this with regards to their platforms. The release of ETH 2.0 might really be the reason which excites its users and not Bitcoin mainly. But I'd say Bitcoin has a contribution but not directly dependent into it.

The price of Bitcoin will affect all altcoin prices, including Ethereum,
because in the BTC pair if it has increased then the USD price of an altcoin will also experience a high increase,
as is currently the case, look at the market and you are seeing altcoins go up.

As per checking on the current status on both btc and eth, they both performing an outstanding phase of the line right now. Truly it's an amazing movement that attracts and influenced ethereum's demand increase. More holders and new investors tend to accumulate more asset instead of dumping it, because of the ongoing trend that spiked consistently few days ago.

I would say that the price of bitcoin has limited influence on Ethereum because during last bull run Ethereum reached its ATH when the value of Bitcoin already started crumbling and Ethereum bear market longer than Bitcoin last time. Bitcoin indeed has influence over other altcoins as we fan witness growth of top altcoins in last few days due to spike in value of bitcoin.

Indeed the potential increase of eth had gone so far, but what's  hard to see right now is erc20 transaction fee also burst out. This is what people noticed and discussed behind social media and private crypto groups which really affected them so much. Holders are still intact with their faith on eth, but also I am hoping that minor issues should be addressed for the benefit of entire community.

It looks like you haven't been following the Relationship between the Ethereum and Bitcoin that much, Bitcoin hit it's all-time high around 17 December 2017, on that very day, Ether price was at around $725 or 0.036876 BTC which is pretty much close to the current price range as BTC is nearing $20K

Ethereum hit an all-time high almost a month later on 13th Jan 2018, not in 2017 as you stated in the OP. So if BTC goes past $20K, expect ETH to react to the uptrend movement a few days or weeks later just like the recent surge to $600 from $450

Why all caps? as I read what you're saying, I comprehend that you're shouting while being angry. 
The comparison of BTC and ETHs movement altogether is different this time. Don't expect that it will be the same as hitting $1400 while bitcoin is at $20000. But if you're also an ETH holder, wait for it. The time for ETH's pump will come as the contract address for ETH2 is already fulfilled. It may look slow in hitting $600 while bitcoin is close to $20000 and just reached $19000 but that's how it goes.

There's no such thing that its a must situation to happen just because bitcoin did hit 20k price.No alt will definitely or precisely have that kind of condition where they do should hit up
that level because bitcoin had already reached some level.

Put up into your mind that price wouldnt correlate from time to time because even we do saw that bitcoin is mooning but doesnt mean that alts would do the same.

ETH is a good or best alt but there would be a time on where it do go high but i wouldnt see that it would break its ATH anytime soon.

If the bitcoin market is up trend, all coins have the opportunity to pump. Eth is one of the many coins already pumped into the market. Eth has more opportunities to pump more, we saw how eth performed in the market last time. So I still hope eth will do better in the coming days. When shitcoins are pumped in large quantities and then dumped so that traders lose a lot of money. As such, coins like eth are much preferred by traders, as eth has the potential to increase the price of these coins in the market.

Wondering why you say DeFi is turning out to be a failure?? If anything DeFi is looking likely to be the killer app of Ethereum. Much more so than blockchain games and blockchain apps which never took off after years of trying. DeFi looks like it will end up being the core driver of Ethereum and smart contract success in the future. The other types of smart contract solutions may or may not one day succeed, but DeFi is going to be the thing that finally makes Ethereum relevant in the world outside pure crypto speculation.

The purpose of specific applications and games built on Ethereum never seemed that interesting, always seemed like too much hassle. But Ethereum as the decentralization and tokenization of finance makes perfect sense. Whereas Bitcoin is decentralized digital gold (and secondarily digital payments), Ethereum is the decentralized digitization of finance.

People initially thought Bitcoin would be all about payments, but capacity bottlenecks means its "killer app" is that it has instead turned into digital gold - something that is primarily used to store value for wealth accumulation. People initially thought Ethereum would be a decentralized internet supporting games and apps of all kinds, but its "killer app" is turning out to be digitizing finance on the blockchain which of course it is only just beginning but it's becoming very clear that is what is going to make Ethereum relevant and useful rather than just an asset people trade for money. Both of these realities are perfectly fine. After achieving global reserve currency status Bitcoin may one day become a more usable everyday currency as well through centralized 3rd parties or the LN, and Ethereum may one day expand its main usefulness beyond finance to a broader ecosystem of applications, but those are just future possibilities after digital gold and blockchain finance drive Bitcoin and Ethereum to become ingrained in society.

Supply is only one factor to determinate price. Much more influential factor is demand. If demand will decrease so will prices of any coin. That will happen when bear market hit. Same as happened in 2018. Supply was very similar in 2017 as in 2018. Prices was very different because of different demand.

if we are talking about what the prices should be then price of shitcoins should be 0 and they shouldn't exist at all. but shoulds don't make this market the pump and dumps make it and shitcoins with unlimited supplies such as ETH can only get so many pumps before they stop rising altogether.  and ETH already had too many pumps.

I feel ETH has a lot of room to run.  I would even wager we have a mini alt coin season resulting in a bitcoin pull back before moving up again.

First of all, there is a button near the A key if you look at it at the top of that it says "caps lock" and if you could click that it would make your typing lowercase. It looks like you didn't know how to do caps off so I wanted to help you.

Secondly there is no guarantee for anything in crypto world, maybe bitcoin will not even be 20k, maybe it will go down from here and that means ethereum could go down, or maybe bitcoin will break over 20k but ethereum may not break over 1.5k levels, or it could mean both will break their previous ATH or maybe even craziest one BTC may fail to go over 20k but eth still goes over 1.5k price.

All of these are "possible" so there is no reason to get all hyped about everything right away, being careful in crypto is number one priority.

Disadvantages of being Newbie in this vast community 

The effect of Bitcoin on the Ethereum price is not there,
we are seeing the price of Ethereum going up because Ethereum has a road map to wait for,
yup Ethereum 2.0, we are all waiting for that and finally they released it this December,
of course the Ethereum price has increased.

You surely got the point here. Although, DeFi is turning out to be failure but we can't deny it has increased the utility of Ethereum manifold. At present, ethereum is probably the most utilised cryptocurrency outside trading markets. ETH 2.0 is on line from Dec, 01 with Beacon chain. Considering all these factors, current ETH price is certainly undervalued.

With bitcoin crossing $20K, remaining bearish sentiments of the crypto community with end too and we can see altcoins rallying as well. $1K-1.5K is surely achievable for ethereum.

Please make your next post in small letters.

AS IF THE BITCOIN HITS $20000 TILL DECEMBER 2020 WHICH IS VERY OBVIOUS THAT IT WILL HIT THAT PRICE, THEN THE RATE OF ETHEREUM WILL BREAK ITS PREVIOUS HIGH OF $1440 BACK IN 2017 BULLISH MARKET.
 
THE FACT BEHIND THIS METHODOLOGY IS THAT THE PRICE OF ETH SHOULD BE 1/17TH OF THE BITCOIN AT CURRENT CIRCULATION RATE SO AT THE CURRENT PRICE OF BITCOIN ($18400), ETH's PRICE SHOULD BE AROUND $1082 BUT IT IS TRADED AT $615 WHICH IS MORE OBVIOUS THAT THE BULL WILL HIT THE ETH's PRICE AND TILL THE END OF DECEMBER 2020, ETH WILL GET 1-2 PARABOLIC GROWTH IN THE PRICE AND WILL SURELY BREAK ITS PREVIOUS HIGH OF BACK IN 2017


WRITE VIEWS REGARDING THE OTHER INFLUENCES OF BOTH CRYPTOCURRENCIES ON EACH OTHER.