Top 5 Coins and it's similarity | Bitcointalksearch.org

IggySe7ven

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Quote from: Sophia Portera on April 16, 2018, 04:52:58 AM

As it shown on the charts top 5 coins are showing prices moving up simultanously:

What causing this? Not only top 5 but it happend to a lot of coins:

Because they all are following the same pattern ("bitcoin") that is why they are moving at the same time, well, almost with a little different of one percent or so.

But ethereum is always going up faster than bitcoin and ripple, and all the other ones who are on the top five.

antolinicio1

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It all depends on the price of bitcoin. With any increase in the price of bitcoin or the fall in the price of bitcoin, there are also fluctuations in the prices of altcoins.

Phenoca

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Quote from: Sophia Portera on April 16, 2018, 04:52:58 AM

What causing this?

Day traders. I think you can setup a bot to flip altcoins on an exchange. If the margin between two coins fluctuates by a few percentage points then the day trader bots will automatically flip their coins to the cheaper one. Because every time someone buys a single coin the price rises slightly and every time someone dumps their coins the price falls. So the day traders can make profit. Just like in the stock market. Instead of cycling their assets every year or month or week, they try to cycle their assets daily. Lots of demand for one coin on the weekend? Sell. Another coin not keeping up with the others? Buy. Maybe I should run a bot.

m.vina

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All altcoins are directly correlated to bitcoin value. When bitcoin's value rises then the alts usually follow the same trend. This has been a on-going trend which you will on the historical charts of all cryptocurrencies. Until other altcoins gain more exposure and adoption the charts and trends will tend to stay this way.

Yuuto

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Usually, the altcoins with the largest market capitalizations will always follow the general movement of the entire crypto market as well as bitcoin itself. Since altcoins are usually traded in BTC pairs, it's no wonder why Bitcoin leads the entire altcoin market as well. Unless there is a drastic event in one particular coin, this is always the case.

Sometimes you do see alts moving apart from bitcoin, i.e. when bitcoin is crashing, alts appreciate.

But these scenarios are rare. As you can see, this bitcoin rally has led altcoins into a period of constant bullishness as well. It's no coincidence that happens.

xiaoyum

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Blockchain with solar energy

It is not strange thing. In last couple of months bitcoin price dropped dramatically. This caused altcoin investorts to lose trust & interest over their altcoin investments. Now markets are doing better so they start to buy with hope yet again.

Rhaizan

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Quote from: Naughtid on April 17, 2018, 04:22:58 AM

Quote from: disconnectme on April 16, 2018, 05:21:06 PM

I think they are all following the price movement of BTC, for now the whole market is what is recovering not a single coin and I think if this growth is sustain and continue for more weeks we will start to see price differentiation among the top cap coins in the space. For now all i care about is the whole market moving up to new highs

That is true. Most coins follow bitcoin with small deviation.

In the past four months we see that the value of bitcoin will a huge dropped the price and all coins are down too, and I heard that the value of altcoins are depends on the price of bitcoin if it's going increase or decrease. As we can see the market are going recovered and i hope it will continue.

kulakvlad

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Today the prices follow the bitcoin, tomorrow there can be a reverse situation. The crypto is full of surprises.

Xardasim

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I think the reason is Bitcoin, so, according to Bitcoin's price graphic, others are moving accordingly. I can not explain why the first five appropriate him, but if you look at the others, not just the first five, you can see that this all of graphic is appropriate. As a matter of fact, the price of at least 35% of the coins depends on the price of Bitcoin.

Jaycee99

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Quote from: WalkerIVIV on April 16, 2018, 06:59:05 PM

It caused by the trend. the market still pegged to the bitcoin price.
The price of bitcoin pair looks stable but the dollar value will be following bitcoin anytime.

I have other option in this answer/post.

Quote

Remember if bitcoin price was increase and the majority of altcoins will be following the bitcoin chart to get increase too.

- Walker

Sometime yes it depends all in bitcoin value when top 1 increase one coin and all well rise but there is still some chances that:

(for example)

1. If bitcoin decreases all of different altcoin will decreases.

other scenario

2. bitcoin increases ethereum can still stay the same or can be left behind.

Not just because bitcoin who increases and affect other coins it still base on other people/investors investments.

Like a scenario before ethereum value moves and bitcoin value remain or stay still that has no value increase.

Naughtid

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Quote from: disconnectme on April 16, 2018, 05:21:06 PM

I think they are all following the price movement of BTC, for now the whole market is what is recovering not a single coin and I think if this growth is sustain and continue for more weeks we will start to see price differentiation among the top cap coins in the space. For now all i care about is the whole market moving up to new highs

That is true. Most coins follow bitcoin with small deviation.

Cnut237

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Quote from: Sophia Portera on April 16, 2018, 04:52:58 AM

As it shown on the charts top 5 coins are showing prices moving up simultanously:

What causing this? Not only top 5 but it happend to a lot of coins:

This happens a lot. Often the whole market moves together, because of events or news that affects crypto as a whole. For example the big rise towards the end of last year was fuelled by new people coming into crypto. They may have started off with bitcoin, but they bought alts as well. There was buy pressure across the board, and all coins rose. They rose too fast, and so all coins experienced a dip in Jan/Feb. Now they are all recovering.
There is still price movement for individual coins, but sometimes it is hidden by the whole market move being much bigger.

nsasuiteb

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BAILOUT

It is about trend, though some coin can move alone. All of them usually rise or decrease together according to the trend of the market.

Kingsraid

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that was normal to other altcoins chart similar to bitcoin chart. like a chain reaction, if bitcoin was on an uptrend that affects other altcoins. they just following the price movement of bitcoin I guess.

haryatiposton01

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Quote from: vit05 on April 17, 2018, 12:09:09 AM

This has always occurred and will always occur. The reason is that many people manage their portfolios by trying to split the investments. So when some project has a great rise, they end up selling a little and buying a little more of the other projects. This is balancing the market and all projects usually walk the same way.

I expect a market change, I do not know what will happen next, I observe all the coins depend on bitcoin, bitcoin like motor drive in krypto currency.

vit05

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This has always occurred and will always occur. The reason is that many people manage their portfolios by trying to split the investments. So when some project has a great rise, they end up selling a little and buying a little more of the other projects. This is balancing the market and all projects usually walk the same way.

limmousine

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I think big investors and newcomers are getting into the market, they are planning to make a profit by the end of the year. It's time the market recovers and rises again, we also have tired of seeing the current market conditions.

Poink

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It is because most of the alts are bought with BTC. Whatever happens to BTC price, most alts follow with some going a bit faster or slower.

liseff3

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Quote from: Sophia Portera on April 16, 2018, 04:52:58 AM

As it shown on the charts top 5 coins are showing prices moving up simultanously:

What causing this? Not only top 5 but it happend to a lot of coins:

That's true as op said. Ethereum Bitcoin Cardano IOTA Stellar and NEO, These six coins experienced a significant increase whiches' close to 28% - 40%, While Monero BitcoinCash Litecoin and Ripple, These four coins increased only half of the above coin increase whiches's between 15% - 25%.
If you know it's the recent increase is in fact started by Ethereum and continued by some other coins such as Bitcoin and other Altcoins I mentioned above.
So, in my opinion, the rise this time very clearly's due to the rising factor altcoin prices thus being able to mask the lack of bitcoin.

kingvirtus09

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Quote from: WalkerIVIV on April 16, 2018, 06:59:05 PM

Quote from: Sophia Portera on April 16, 2018, 04:52:58 AM

As it shown on the charts top 5 coins are showing prices moving up simultanously:

What causing this? Not only top 5 but it happend to a lot of coins:

It caused by the trend. Remember if bitcoin price was increase and the majority of altcoins will be following the bitcoin chart to get increase too. the market still pegged to the bitcoin price.
The price of bitcoin pair looks stable but the dollar value will be following bitcoin anytime.

Agree on this it's like a chain reaction, Price movement are part of bitcoin's popularity and anytime soon bitcoin will increase rapidly same with those altcoins that are gaining popularity too. just hodl and don't sell anything.

Topic: Top 5 Coins and it's similarity (Read 285 times)