Topic: The bizzare thing I learned about Bitcoin. And why we ALL need to support it!!! (Read 119 times)

Your claimings are most likely to be absolute facts, but in reality this is not the case .
I agree with you when you say alts prices are closely tied to BTC's one but in relative term ,ie; a given coin can independently ( from bitcoin ) move & shows very different behaviour because the two factors that determine its price are : supply & demand .Not definitely , all thing is relatively commanded

It is important to note, however, that the introduction of newer coins coupled with cryptocurrencies’ extreme volatility may result in a change in the current market situation; the top 10 cryptos last year may not be the biggest coins now. Nonetheless, with some research and most of all, patience, chances are you’ll do well if you invest in some decent altcoins and hold them for a while instead of panic selling and berating yourself for not buying Bitcoin instead every time your coins dip.

So today I just realized a bizzare mathematical/logical thing about bitcoin, and why we all need to support it.

I am a noob to crypto, I joined in December, now I am experiencing the worst two months of crypto ever, FML, just my luck.


Now this mathematical thing, I have heard it before, but never really understood it. Same as sell walls I heard it but never really understood what a sell wall was until yesterday. Learning for me is easiest when it directly happens to me. Same as investing in shitcoins, I was told it was bad to, and logically, I understood that I could lose my money, on paper, but I never really learned until I lost money doing so.


So when they said that the price of alt coins is tied to bitcoin, I heard them, but only on a superficial level, I didn't deeply understand what they meant. But now I do.

You see, when I was a noob to crypto and hearing Bill gates saying Bitcoin will reach a million dollars, I was worried. Worried I wasn't an early investor of bitcoin and that I would "miss the train" so to speak. Because I was heavily investing in altcoins instead of bitcoin, altcoins since they were much cheaper. But after the big crash of yesterday I finally understood what they meant by "tied to bitcoin."

I just realized my FOMO was unneccesary because, if the price of bitcoin goes to 1 million dollars, I WILL BE A MILLIONAIRE EVEN THOUGH I DONT HAVE ANY BITCOIN RIGHT NOW. BECAUSE THE PRICE OF ALTCOINS IS TIED TO THE BITCOIN PRICE. SO IF BITCOIN RISES THEN MOST ALTCOINS GOES UP. MOST ALTCOINS ARE NOT TIED TO USDTETHER OR ETHEREUM, BUT ETHEREUM IS THE SAME DEAL. IF ETHEREUM GOES TO 1 MILLION DOLLARS THEN WE WILL ALL BE RICH, EVEN IF YOU DONT HAVE ANY ETHEREUM.

So we must ALL do our part and support bitcoin and buy bitcoin!!!! Because our fates are inextricably tied to the fate of bitcoin!!!!!