as far as I know, I think the price of ETH is related to BTC. because when BTC drops sharply,
then ETH has lag, but ETH price also will drop sharply. so it all depends on the first coin ie BTC
Topic: Is the price of ethereum dependent on bitcoin? - page 41. (Read 5185 times)
It seems to me that they are not very connected with each other, but still when bitcoin falls and then falls the entire currency including the ether. But the air should be kept in the long term as it is a very good asset
Yes, all coins in the cryptocurrency market are dependent on Bitcoin. Only Bitcoin is the core. Although Ethereum is relatively independent this year, it is actually inseparable from the effects of Bitcoin.
Most people have the mindset that the price of ethereum rises with bitcoin and vice versa. How true is this?
Thats not completely true. They get things mixed up all the time! This is not about the BTC itself, but its about the fall of whole market that we see many times. I mean with the fall of whole market cap, every other crypto currency including BTC goes down in the similar fashion and even their generated graphs looks like same to everyone. But that doesn't mean they are following the BTC but they are following the whole market itself.
So thats a wrong mindset and must be removed from everyone mind to prevent FUD's from happening.
Most people have the mindset that the price of ethereum rises with bitcoin and vice versa. How true is this?
Bitcoin’s marketplace cap is large. when bitcoin is going up, cryptocurrency index is going up and vice versa. Bitcoin is the de facto digital currency. The reason noted inside the other answer is likewise actual that FIAT-ETH conversion is not supplied by means of all exchanges, often instances you have to spend BTC to change ETH. again, the cause is the big quantity of alternate for bitcoin. while ETH will be a actual project to BTC in phrases of trade, in all likelihood we won’t have this problem anymore.
Most people have the mindset that the price of ethereum rises with bitcoin and vice versa. How true is this?
Nearly every alt have price dependency on BTC price, this is because of the fact that most of the people still trade ALTs on there satoshi value and not the FIAT value.
So if satoshi value goes high in terms of FIAT, the ETH and other ALTs price reacts directly proportionate to it.
Most people have the mindset that the price of ethereum rises with bitcoin and vice versa. How true is this?
Yes, price of Ethereum and other altcoins depends on Bitcoin. Even if there are already a fiat pair with other altcoins, Bitcoin is their standard basis for their price. If you notice, Bitcoin rise and fall affects altcoin value as well. Most people have the mindset that the price of ethereum rises with bitcoin and vice versa. How true is this?
All I know is that Ethereum is not dependent on Bitcoin because what I see that is dependent on Bitcoin is Altcoin because altcoin always follows the bitcoin movement hence Ethereum is not dependent on Bitcoin, let alone what I know Bitcoin and Ethereum are against each other
That's really true. Look at what happens to the Ethereum when the price of Bitcoin falls now. Bitcoin leads almost all the altcoins and Ethereum is among the altcoins that are affected by Bitcoin.
yes it is true if bitcoin prices greatly affect the price ethereum. because bitcoin is already considered by the crypto community as a cryptocurrency icon, so when the BTC price falls, others will follow it. no wonder people panic when bitcoin prices continue to decline lately.
I think the whole market is running with the bitcoin position if the bit coin is down market is down and if it is up market is up so i think ethereum price depends on bitcoin 90% .
Yes I agree since bitcoin is the mother of all coins its affect all when bitcoin go up some alternative coin goes up too so does ethereum. But mayba in the future some of this coin will establish their own platform and can be independent from bitcoin. For now I think bitcoin controls the crypto market.
Simple answer. Yes. ALL cryptocurrency is tied to both fiat and BTC. Some hope that Ethereum or other will overtake BTC because of its issues, but for now, thats the current state.
I also do not understand why the price of altcoin including ethereum depends on the price of BITCOIN? When the price of Bitcoin down Ethereum also come down.
I think all altcoins rely on Bitcoin, but if Bitcoin is stable, all altcoins rely on Bitcoin to a low degree. If bitcoin starts to fall, all altcoins will fall, and this will depend on the high level of bitcoin
Most people have the mindset that the price of ethereum rises with bitcoin and vice versa. How true is this?
Do not be surprised but the price of every altcoins are dependent on btc and it will continue to be like that until the market is stabled and regulated.
So literally just make convenient investment and trading and maintain the law DYOR
I believe Blockchain will eventually take over
Yes, it affect the price of ethereum when the bitcoin fall but I think it is not about the bitcoin falls because if the demand was fall, it affect all cryptocurrencies, if there are something happen then it affect also the price of all cryptocurrency.
When I notice the chart of the market of ethereum and bitcoin then they are not the same and it is not always the same dump because they are different coin. When there are too many person want to buy ethereum then the ethereum will rise but the bitcoin was not.
the rising and falling of bitcoin prices does greatly affect the price of ethereum in the crypto market because bitcoin is already considered the embodiment of cryptocurrency. any change in BTC price will change all other coins and will continue that way until the market stabilizes again. if bitcoin fails, another crypto currency will be considered a failure, that's because people panic when bitcoin prices drop.
Most people have the mindset that the price of ethereum rises with bitcoin and vice versa. How true is this?
Do not be surprised but the price of every altcoins are dependent on btc and it will continue to be like that until the market is stabled and regulated.
So literally just make convenient investment and trading and maintain the law DYOR
I believe Blockchain will eventually take over
I don't think so. People using BTC (or actually hodling btc) just want to make money. It really is a gold of cryptocurrency. Whenever BTC price is pumping altcoins holders are selling everything because they want to be on this wave. For bitcoiners Ethereum is an altcoin. So ETH price probably would drop.
However, there are two kinds of people that holds ether. The first one is bitcoiners. They pump and dump because they want to make money. They are the reason why the ether price drops sometimes. The second type is the etherfans who want ether because it's not only better than btc, ether is just good while btc is just bad. These people won't dump because they know that ether is not a 'dumb brick" and it might be very useful. It already is but only on a small scale. Ethereum have a very strong community sometimes the strong community that is devoted might not be enough. Even if Ethereum will be improved it might get crushed under the BTC that would hit, let's say $2.000 or more. It's also possible that someday Ethereum will eat Bitcoin for breakfast but it definitely won't happen in the nearest future.
However, there are two kinds of people that holds ether. The first one is bitcoiners. They pump and dump because they want to make money. They are the reason why the ether price drops sometimes. The second type is the etherfans who want ether because it's not only better than btc, ether is just good while btc is just bad. These people won't dump because they know that ether is not a 'dumb brick" and it might be very useful. It already is but only on a small scale. Ethereum have a very strong community sometimes the strong community that is devoted might not be enough. Even if Ethereum will be improved it might get crushed under the BTC that would hit, let's say $2.000 or more. It's also possible that someday Ethereum will eat Bitcoin for breakfast but it definitely won't happen in the nearest future.
The correlation between two assets (be it crypto or normal financial) isn't something constant.
Sometimes it exists, sometimes not.
Having said this. The last year, based on my observation, the correlation between BTC and ETH was pretty tight. When one rose, the other dropped.
For some short period of times, however, we saw both (BTC and ETH) could rise.
Might happen, that one day (when the fiat money are massively taken from crypto) we could see how both decline.
Sometimes it exists, sometimes not.
Having said this. The last year, based on my observation, the correlation between BTC and ETH was pretty tight. When one rose, the other dropped.
For some short period of times, however, we saw both (BTC and ETH) could rise.
Might happen, that one day (when the fiat money are massively taken from crypto) we could see how both decline.
Comparing Ethereum with Bitcoin is a bit redundant, but we can take some important information from the differences found on both platforms.Bitcoin is the digital currency that was originally created as an alternative to the financial system.Ethereum is also created as a blockchain 2.0 platform that can be used to create and run smart contract applications through blockchainI think the price of ethereum does not depend on bitcoin..
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