Sometimes its the other way round. | Bitcointalksearch.org

Pandorak

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Quote from: Agbamoni on January 19, 2025, 05:52:23 AM

Every single time we here crypto enthusiast say all the altcoins are affected by the price of Bitcoin. The statement that "When Bitcoin rise other altcoins follow suit". However of recent its happened the other way round.

The Official Trump (TRUMP) reached a new ATH on Januanry 19 2025, where many persons had a huge cash out. Obviously when the TRUMP coin started making a huge upward movement Bitcoin follow suit because we have seen Bitcoin for weeks below 100k. Not until the hype around the TRUMP coin made it explode and Bitcoin went up as well crossing into the 100k and now at 104k.

This is to clarify the doubt that an altcoin can as well have a positive impact on Bitcoin price.

Basically no one expected that Donald Trump would issue a meme token ($TRUMP), of course this sparked the interest of investors to buy because they knew this would be easy money if they bought it as early as possible, this is also one of the causes why many altcoins are sideways and even tend to go down, because many investors are moving their money for a while.

In addition, your statement regarding “The price of $Trump rose and then Bitcoin followed it” we have different opinions here, my personal assumption is that this is just a coincidence because the launch of the $Trump token was only a few days before the inauguration of the President of the United States, Donald Trump. Meanwhile, Bitcoin experienced a Flash Pump to create a new ATH when Donald Trump was inaugurated on that day, not on the day the $Trump meme token was launched.

JeffBrad12

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Quote from: $crypto$ on January 24, 2025, 03:56:34 AM

Now that it's aligned that Trump and Elon are on board, maybe if Elon wasn't siding with DOGE maybe he'd create his own meme. Lol
Why is memecoins such a big public concern? Because Trump himself keeps talking on TV broadcasts so it wouldn't be strange that memes could skyrocket.

elon already shilling so much for doge at this rate I think doge is elon's meme already so no need to have second elon meme Grin

.
but it's the first time I see a meme coin released by the US president, if you think about it from the perspective of optimist, this means that the blockchain and cryptocurrency is finally getting normalized even by the most influential figure hence increased legitimacy.

passwordnow

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Quote from: Agbamoni on January 19, 2025, 05:52:23 AM

This is to clarify the doubt that an altcoin can as well have a positive impact on Bitcoin price.

Both markets are complementing each other. But at the most times, we can't deny that Bitcoin is lifting the majority of the rally in the crypto market because many are paid to it and most people have their money into stables are placed into Bitcoin afterwards. And when they're able to get what they waited for so long and will have to take profits, they'll get it from Bitcoin. So, it's a cycle that we are seeing and looking at this example of Trump. You're only looking at it at a very short period of time compared to what Bitcoin contributed to most of these altcoins in the market. It's all about Bitcoin whether we like it or not.

$crypto$

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Quote from: Stalker22 on January 23, 2025, 05:07:15 PM

Quote from: jaberwock on January 23, 2025, 03:58:04 PM

So do you actually believed that it came from the president itself? XD . Anyways, a lot of us have doubted that and there are even talks which claims that his account got hacked.
~

Yes, this memecoin actually comes from Trump himself, and his account was not hacked. He has already talked about it in a live TV address and also mentioned the Melania meme coin from the first lady.

Now that it's aligned that Trump and Elon are on board, maybe if Elon wasn't siding with DOGE maybe he'd create his own meme. Lol
Why is memecoins such a big public concern? Because Trump himself keeps talking on TV broadcasts so it wouldn't be strange that memes could skyrocket.

Stalker22

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Quote from: jaberwock on January 23, 2025, 03:58:04 PM

So do you actually believed that it came from the president itself? XD . Anyways, a lot of us have doubted that and there are even talks which claims that his account got hacked.
~

Yes, this memecoin actually comes from Trump himself, and his account was not hacked. He has already talked about it in a live TV address and also mentioned the Melania meme coin from the first lady.

jaberwock

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Quote from: X-ray on January 19, 2025, 11:37:34 PM

this is definitely different case, you know this meme coin is coming from donald trump, the US president, you'd easily realize that this is no ordinary alt or meme and of course it will impact the market as a whole.
his influence can easily change around the sentiment so you know that just because $TRUMP meme can help raise the price of bitcoin, doesn't mean alt in general can influence the price of bitcoin, also the one that got influenced the most is SOL not bitcoin, SOL rising so fast because demand for it increase for people to swap it to $TRUMP but bitcoin is just having a really good bounce back from support.

So do you actually believed that it came from the president itself? XD . Anyways, a lot of us have doubted that and there are even talks which claims that his account got hacked. Extra-ordinary or not, I think yeah that trending cryptos will always affect the market in some ways. One obvious reason is because a lot of demand is coming from them and this demand might go on other cryptos if they didn't exist.

Quote

the one that got influenced the most is SOL not bitcoin

IDK much about TRUMP coin but maybe it is under the SOL network? And that is why SOL benefited the most. It is fine if BTC is lagging behind but BTC is still commendable once again as it is now starting to recover. Later on BTC can surely surpassed the gains that SOL and others has.

X-ray

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this is definitely different case, you know this meme coin is coming from donald trump, the US president, you'd easily realize that this is no ordinary alt or meme and of course it will impact the market as a whole.
his influence can easily change around the sentiment so you know that just because $TRUMP meme can help raise the price of bitcoin, doesn't mean alt in general can influence the price of bitcoin, also the one that got influenced the most is SOL not bitcoin, SOL rising so fast because demand for it increase for people to swap it to $TRUMP but bitcoin is just having a really good bounce back from support.

Charles-Tim

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Quote from: Agbamoni on January 19, 2025, 05:52:23 AM

Not until the hype around the TRUMP coin made it explode and Bitcoin went up as well crossing into the 100k and now at 104k.

This is not true.

Official Trump was created just yesterday. Bitcoin got to $105000 day before yesterday.

Quote from: Agbamoni on January 19, 2025, 05:52:23 AM

This is to clarify the doubt that an altcoin can as well have a positive impact on Bitcoin price.

This is also not true. Although, Trump optimism about bitcoin reserves helped in the price of bitcoin that increased but not Official Trump.

If Official Trump starts to fall, bitcoin and other coins may not fall. But let the Official Trump increase to it very well and see that it will follow bitcoin price.

Agbamoni

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Every single time we here crypto enthusiast say all the altcoins are affected by the price of Bitcoin. The statement that "When Bitcoin rise other altcoins follow suit". However of recent its happened the other way round.

The Official Trump (TRUMP) reached a new ATH on Januanry 19 2025, where many persons had a huge cash out. Obviously when the TRUMP coin started making a huge upward movement Bitcoin follow suit because we have seen Bitcoin for weeks below 100k. Not until the hype around the TRUMP coin made it explode and Bitcoin went up as well crossing into the 100k and now at 104k.

This is to clarify the doubt that an altcoin can as well have a positive impact on Bitcoin price.

Topic: Sometimes its the other way round. (Read 103 times)