Topic: Other cryptocurrencies follows same graph as bitcoin, what is your opinion? - page 2. (Read 414 times)
June 13, 2018, 01:52:10 AM
Yes it does and it is the tradition since a very long time. All the alts follow bitcoin and bitcoin has a huge influence over the market. So to keep the market in a good condition a special care of bitcoin is a must.
June 13, 2018, 01:25:37 AM
they are not exactly following bitcoin though but everything starts and ends with bitcoin.
the thing is every person that has ever started with cryptocurrencies has seen bitcoin first and wants to own bitcoin. so what they do is that they start reading up about bitcoin and then buy some. but in this process they are exposed to a lot of advertisement telling them how they can buy the "next best thing" or ever sometimes they see "better than bitcoin" advertisements which is luring them into altcoin traps so we end up with a lot of newcomers who have come for bitcoin but went into altcoins with the hopes to make a lot of money.
in other words when bitcoin is growing it attracts a lot of these newbies and these newbies invest some or all of their money into altcoins which may seem like they are following bitcoin but they are not because their rises have always been temporary pumps since the market makers always dump on their heads and get out with their pockets filled with a lot of money which they inject into bitcoin and become so much richer.
the thing is every person that has ever started with cryptocurrencies has seen bitcoin first and wants to own bitcoin. so what they do is that they start reading up about bitcoin and then buy some. but in this process they are exposed to a lot of advertisement telling them how they can buy the "next best thing" or ever sometimes they see "better than bitcoin" advertisements which is luring them into altcoin traps so we end up with a lot of newcomers who have come for bitcoin but went into altcoins with the hopes to make a lot of money.
in other words when bitcoin is growing it attracts a lot of these newbies and these newbies invest some or all of their money into altcoins which may seem like they are following bitcoin but they are not because their rises have always been temporary pumps since the market makers always dump on their heads and get out with their pockets filled with a lot of money which they inject into bitcoin and become so much richer.
June 13, 2018, 01:09:34 AM
I noticed on coinmarketcap that many cryptocurrencies follows almost same graph as Bitcoin.
What is the reason behind this in your own opinion ?
its common things and already happen long time ago, bitcoin does have big impact on cryptocurrency value. I believe the reasons behind this cause bitcoin has a big dominance when bitcoin drops marketcap drop so much and it makes investors afraid and also make a panic sell. What is the reason behind this in your own opinion ?
June 13, 2018, 01:06:59 AM
no, they don't follow bitcoin graphs/charts. what happens is that when bitcoin drops the altcoins drop too so that may have created the illusion that they are following bitcoin but the fact is they really aren't. for example even in drops they are dropping so much faster and bigger than bitcoin. it is not just a small drop like bitcoin had, each of them dropped at least 10-15% where bitcoin dropped only 5%
and as for the other side of the chart, which is the rise, they never follow bitcoin. bitcoin rises while altcoins drop some times and some times they just stagnate until bitcoin stabilizes so they can take their chances for a short term pump.
and as for the other side of the chart, which is the rise, they never follow bitcoin. bitcoin rises while altcoins drop some times and some times they just stagnate until bitcoin stabilizes so they can take their chances for a short term pump.
June 13, 2018, 01:05:38 AM
well, bitcoin still leading on the market. most of the coin price depends on bitcoin. shouldnt be bigger case if ethereum as main trading crypto.
June 13, 2018, 12:50:55 AM
I noticed on coinmarketcap that many cryptocurrencies follows almost same graph as Bitcoin.
What is the reason behind this in your own opinion ?
I think yes that's true that was also I've been notice. When bitcoin goes down some other cryptos are going down too and when btc is pump they are also pump. Maybe they are really depends on bitcoin movements because they know that it has a strong foundation and good potential in the crypto market so that's why they follow it's movements so they can also be successful in the market. What is the reason behind this in your own opinion ?
June 13, 2018, 12:43:34 AM
I noticed on coinmarketcap that many cryptocurrencies follows almost same graph as Bitcoin.
What is the reason behind this in your own opinion ?
What is the reason behind this in your own opinion ?
You should have understood, Bitcoin became a center for altcoin. if you want to know the movement of coins in the long run or short term, you only need to look at bitcoin charts last year so you can definitely read the market price.
I myself have proved it.
but keep in mind about altcoin, increase and decrease in altcoin prices can be fast and can be slow following bitcoin prices.
June 12, 2018, 11:26:53 PM
I noticed on coinmarketcap that many cryptocurrencies follows almost same graph as Bitcoin.
What is the reason behind this in your own opinion ?
In my own study, I think it is true that some of other cryptos are definitely depends in the movements of bitcoin most specially are altcoins. As we can see, if bitcoin is in the downfall season, altcoins is in the same way too maybe because btc is the founder and the king of crypto that's why some of cryptos are making the same movements of bitcoin. What is the reason behind this in your own opinion ?
June 12, 2018, 11:18:14 PM
99% of cryptocurrency to fiat exchangers only exchange Bitcoin or Ethereum directly to fiat. Bitcoin is use as a base to know the worth of any altcoins.
June 12, 2018, 11:02:35 PM
Bitcoin is the oldest and the most powerful crypto currency. So, the price fluctuation of other currencies also depend on bitcoin. As the price is lower for bitcoin now, the prices are lower for other coins too.
June 12, 2018, 11:50:21 AM
Bitcoin is the reference for cryptos, and its price ends up influencing the whole market, the most traded pair is usually altcoin / BTC, there are few pairs in fiat that have an expressive volume, and this explains much of Bitcoin's influence on other currencies. Maybe in the future this will change a bit, but Bitcoin remains the main driver of this market.
June 12, 2018, 11:43:44 AM
Usually altcoin follow bitcoin based value except if some altcoin experience uptrend , it means that the demand for that altcoin has increase and may compete bitcoin in the future.
So yeah.. it's depend on supply and demand overall !
So yeah.. it's depend on supply and demand overall !
June 12, 2018, 11:40:09 AM
Don't know why it is so that altcoin prices always go down whenever bitcoin collapses. It should be that both go in the opposite direction. Atleast, this will enable traders buy altcoins whenever bitcoin is down.
What I witnessed before was like that. Bitcoin's movement is opposing to the movement of altcoin charts.But today it's different, I don't know the exact reason on the changes with the flow of crypto's but these alts are dependable to bitcoin. And if there's an all time high to bitcoin, alts are also in that phase. You can get an example of it last time when bitcoin's price was $19,000.
June 12, 2018, 11:30:22 AM
After inventing bitcoin the value of btc is very high that’s why they still holding 1st position in the market based on this many coins come in the market but all coins are followed by btc because btc is the main leader of crypto market and this have good future value which they give to their customers.
June 12, 2018, 11:03:24 AM
Think of it this way, if a restaurant offers chicken for their meal and there's a bird flu virus, chances are all resto's offering chicken would have lower sales.
The restaurants will be the other cryptocurrencies and bitcoin will be the chicken, as bitcoin was known to be the most popular cryptocurrency.
The restaurants will be the other cryptocurrencies and bitcoin will be the chicken, as bitcoin was known to be the most popular cryptocurrency.
June 12, 2018, 10:58:29 AM
I noticed on coinmarketcap that many cryptocurrencies follows almost same graph as Bitcoin.
What is the reason behind this in your own opinion ?
It's probably yes. I think most of other cryptos are base and depends on bitcoin movements so if bitcoin are suffered in dumps, for sure that some of other cryptos are also in dump period. There are a lot of proof that some cryptos are has the same movements of bitcoin in the market. Most of those cryptos has the same movements of Bitcoin is none other than altcoins. What is the reason behind this in your own opinion ?
June 12, 2018, 10:49:13 AM
Don't know why it is so that altcoin prices always go down whenever bitcoin collapses. It should be that both go in the opposite direction. Atleast, this will enable traders buy altcoins whenever bitcoin is down.
June 12, 2018, 10:39:56 AM
I noticed on coinmarketcap that many cryptocurrencies follows almost same graph as Bitcoin.
What is the reason behind this in your own opinion ?
What is the reason behind this in your own opinion ?
Probably it is because the arising cryptos were almost the same with bitcoins wherein they introduce themselves as the improve version of Bitcoin. In these idea I believe that it is possible that someday Bitcoin will be beaten by other alts. Some candidates in beating the leading cryto were litecoin, ETH and ripple. It is not surprising someday if all those Bitcoin fans will be go to the said alts.
June 12, 2018, 10:36:17 AM
Bitcoin is basically the large ship and the rest of the Altcoins are the small ships that follow it.
If Bitcoin falls, everything falls with it.
If Bitcoin falls, everything falls with it.
June 12, 2018, 10:33:32 AM
You have to understand who come in the market 1st btc there is no confusions also most of them are following btc because it is the father of crypto market based on this many new coin still doing their graph based on btc and btc is the unique coin also and this have good profit.
It is because other crypto currencies is created based on the bitcoin, because bitcoin is the first crypto currency and it is the most trusted and profitable of all crypto currencies, it was like a living legend in terms of digital currency. Its good when other cryptos follow the path of bitcoin, because there are more lot profitable coins that we can invest and get big profit. Jump to: