Is Bitcoin and Altcoin price related? - page 2.

picolo

hero member

Activity: 1022

Merit: 500

Quote from: DaveSaldana123 on February 03, 2015, 08:54:36 AM

Litecoin is on an upward trend, so as Bitcoin http://bit.ly/1x5QyYQ

Do you think both these coin's price trend in anyway related?

Altcoins are related to the Bitcoin price, they are highly correlated.

TheDreadPirateDickstein

member

Activity: 140

Merit: 10

Quote from: Bitcoinexp on February 13, 2015, 08:41:04 AM

Well just think of it in a simpler way... Is USD (or another) and other fiat currencies' price related? Well, no. If they were, it wouldn't be significant because each of them are independent and share few similarities other than the technology and perhaps some technicalities.

something something something darkside
something something something herp derp I have no idea what the fuck I'm saying, because it's wrong.

Bitcoinexp

hero member

Activity: 544

Merit: 500

Well just think of it in a simpler way... Is USD (or another) and other fiat currencies' price related? Well, no. If they were, it wouldn't be significant because each of them are independent and share few similarities other than the technology and perhaps some technicalities.

TheDreadPirateDickstein

member

Activity: 140

Merit: 10

Yes...end of discussion

Mewtwo

full member

Activity: 238

Merit: 100

ROAD TO HEAVEN...

Quote from: DaveSaldana123 on February 03, 2015, 08:54:36 AM

Litecoin is on an upward trend, so as Bitcoin http://bit.ly/1x5QyYQ

Do you think both these coin's price trend in anyway related?

Obviously, if you look at coinmarketcap you will notice that most days when btc is up with 4-5 % all other coins are green too.

cheekychap

full member

Activity: 182

Merit: 100

Quote from: ivonna on February 12, 2015, 09:32:07 PM

Quote from: ebliever on February 03, 2015, 09:17:32 AM

Given that 99% of altcoin purchases are done via bitcoin, you would expect that a 10% increase in bitcoin would by default translate into a 10% rise in altcoin prices, measured from a fiat baseline. But there is so much volatility in altcoin markets that it can be hard to spot that correspondence.

If I recall correctly, LTC value has been increasing of late as priced in satoshis, not just fiat. But that's just a small recovery of the great losses in value that LTC has suffered over the past year, far more than BTC. So I wouldn't make much of it yet.

What actually tends to happen is that when bitcoin falls by 10%, most altcoins tend to fall by at least 10.01% and when bitcoin rises by 10%, most altcoins tend to rise no more then 9.99%. In other words, most altcoins tend to fall over time when compared to bitcoin, however their Dollar prices are correlated.

Aren't all altcoin sold in terms of their bitcoin equivalent price ? And because of them aren't they actually correlated in terms of price ?

ivonna

full member

Activity: 139

Merit: 100

www.secondstrade.com - 190% return Binary option

Quote from: ebliever on February 03, 2015, 09:17:32 AM

Given that 99% of altcoin purchases are done via bitcoin, you would expect that a 10% increase in bitcoin would by default translate into a 10% rise in altcoin prices, measured from a fiat baseline. But there is so much volatility in altcoin markets that it can be hard to spot that correspondence.

If I recall correctly, LTC value has been increasing of late as priced in satoshis, not just fiat. But that's just a small recovery of the great losses in value that LTC has suffered over the past year, far more than BTC. So I wouldn't make much of it yet.

What actually tends to happen is that when bitcoin falls by 10%, most altcoins tend to fall by at least 10.01% and when bitcoin rises by 10%, most altcoins tend to rise no more then 9.99%. In other words, most altcoins tend to fall over time when compared to bitcoin, however their Dollar prices are correlated.

pereira4

legendary

Activity: 1610

Merit: 1183

Quote from: nzminer on February 12, 2015, 03:08:43 PM

Quote from: Boussac on February 11, 2015, 11:43:57 AM

In the end, there is only one network and that is the Bitcoin network.

You are forgetting NXT, not to mention other 2.0 projects.
Ultimatley,

NXT WILL PREVAIL

Naw MAID will. Once the current bubble bursts dont forget to pick cheap ones.

nzminer

legendary

Activity: 1918

Merit: 1001

Quote from: Boussac on February 11, 2015, 11:43:57 AM

In the end, there is only one network and that is the Bitcoin network.

You are forgetting NXT, not to mention other 2.0 projects.
Ultimatley,

NXT WILL PREVAIL

MasterCasino

member

Activity: 91

Merit: 10

Quote from: DaveSaldana123 on February 03, 2015, 08:54:36 AM

Litecoin is on an upward trend, so as Bitcoin http://bit.ly/1x5QyYQ

Do you think both these coin's price trend in anyway related?

Maybe so. They are both cryptos. Right?

Boussac

legendary

Activity: 1221

Merit: 1025

e-ducat.fr

Litecoin was launched on a false promise like "Litecoin will be more decentralized because there will be no Litecoin ASIC mining because Litecoin is using scrypt". Yeah , right.
In general, the multiplication of the altcoins mean infrastructure fragmentation and rampant money supply inflation. Not exactly the road to success.
In the end, there is only one network and that is the Bitcoin network.
The same story happened before with the Web when some people or corporations tried to build their own version.

Sidechains are much more interesting than altcoins because they avoid the pittfalls of infrastructure fragmentation and money supply inflation.

MilesJohan

sr. member

Activity: 378

Merit: 250

I think it is. The price of some other coins like Litecoin and dogecoin actually fell along with the price of bitcoin falling

Bralex

sr. member

Activity: 308

Merit: 250

Yes, altcoins are bitcoins little brothers including litecoin.

What happens to bitcoin generally happens to alts to, with a few exceptions like Nubits rises when Bitcoin falls as does Ripple and Stellar.

The others from what i have seen tend to fall along with their big bro.

rikkie

hero member

Activity: 574

Merit: 500

Richard Coleman - Chief Executive @ CloudThink.IO

i think if the price of BTC goes up or down, most of the other coins go the same way. It's not always in the same %.
I'm not sure, but i think it is so.

steven.G999

sr. member

Activity: 266

Merit: 250

Quote from: BitmoreCoin on February 10, 2015, 02:26:08 PM

Quote from: Stedsm on February 10, 2015, 12:47:22 PM

Usually if bitcoin goes up, altcoins go up too.

That happens when bitcoin goes up a lot and for some time.

yeah right, when bitcoin rose coin like a LTC and Doge go up

BitmoreCoin

sr. member

Activity: 406

Merit: 250

Quote from: Stedsm on February 10, 2015, 12:47:22 PM

Usually if bitcoin goes up, altcoins go up too.

That happens when bitcoin goes up a lot and for some time.

Stedsm

legendary

Activity: 3052

Merit: 1273

Usually if bitcoin goes up, altcoins go up too.

AgentofCoin

legendary

Activity: 1092

Merit: 1001

Quote from: pooya87 on February 10, 2015, 12:24:25 PM

Quote from: DaveSaldana123 on February 03, 2015, 08:54:36 AM

Litecoin is on an upward trend, so as Bitcoin http://bit.ly/1x5QyYQ

Do you think both these coin's price trend in anyway related?

like every one says, i too don't think the bitcoin price and altcoin price are related. but i saw when bitcoin price droped suddenly, some altcoin prices like LTC, DRK, Doge wend up in price!

I agree that those altcoins went up, I noticed that as well.

My only question is why would anyone buy up Doge, when Bitcoin went down? Doge has unlimited supply now and isn't as serious as it once was.

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: DaveSaldana123 on February 03, 2015, 08:54:36 AM

Litecoin is on an upward trend, so as Bitcoin http://bit.ly/1x5QyYQ

Do you think both these coin's price trend in anyway related?

like every one says, i too don't think the bitcoin price and altcoin price are related. but i saw when bitcoin price droped suddenly, some altcoin prices like LTC, DRK, Doge wend up in price!

bryant.coleman

legendary

Activity: 3766

Merit: 1217

Quote from: nzminer on February 10, 2015, 12:18:29 AM

Im hoping Ripple will die away and we will just see a few high quality projects left with solid dev teams, it already appears that very few new alts are appearing.

Ripple will fade gradually... and already that is happening.

And regarding new alts... yes... very few of them are appearing nowadays... when the original crypto (BTC) itself is in big trouble... there is not enough encouragement for the new cryptos. Grin

Topic: Is Bitcoin and Altcoin price related? - page 2. (Read 4612 times)