Topic: What happened? (Read 618 times)

I think this is a very simple pattern and has often happened, when the price of bitcoin goes up the price of ethereum and the Binance coin will also go up and vice versa. I've known this since the first time I was here, and I think this all happened because bitcoin is the most popular cryptocurrency and can be a benchmark for investor interest in crypto. besides the dominance of bitcoin in the market which is quite large is also the reason why all this can happen.

Everything is a little simpler than many people think The crypto market was "founded" by that very bitcoin. And for a long time, the entire alternative crypto market was "considered" and continues to be considered in terms of values ​​expressed in satoshi. No, I’ll say right away - there are crypts pegged to the dollar, for example, the same stablecoins, and as you noticed, they don’t fall .. But they don’t grow to Bitcoin either. But the cost of all the rest, in fact, is 100% "tied" to the indicators of bitcoin. Therefore, when Bitcoin falls, other, alternative cryptocurrencies also fall automatically. There are no riddles here, everything is quite logical and understandable

If you've been here on this market then you would really be finding out to be typical things to happen on where Bitcoin is always the trend maker and if

it turns out that Bitcoin is bearish then the entire market would really be having the same trend but not all the times because there are times on where

altcoins does have their own movement or totally opposing on what we are seeing with bitcoin which is normal and could really happen from anytime.

Bitcoin’s dominance until now can’t be stopped as it’s the most popular and the holy grail of all cryptocurrencies since from the very beginning. Most of the cryptocurrencies in the market today are just following where BTC goes no matter if it’s pumping or dumping.

BTC is the mostly used gateway for us to convert into fiat money. This is pretty normal for us to see the movement of these cryptos in the market due to their unpredictability. There are times when BTC goes down, other coins are going up which can be due to certain events or news that would eventually affect the prices that they have.

it can be said that btc is a benchmark for the price of all coins, if bitcoin goes down then other coins follow.
well when the new recovery is very much different, bitcoin recovery can be said to be fast, but for altcoins it is very slow with a recovery ratio of 70:30% of the decline value
so don't think this is a big problem, because this is the current market in crypto

This shouldn’t be something to scare you, it happens all the time. I believe that by now you must have heard or seen people saying that cryptocurrency is volatile, and that’s what you have just experienced.

And the reason why you would see bitcoin going down and a lot of altcoins are going down with it is because most of the altcoins are measured with bitcoin or you can as well say that they have a correlation with bitcoin since it is the biggest cryptocurrency and has the largest trading volume. So, this situation is a normal situation that tends to happen every time in the market, expect to be seeing it often.

Op have requested about the market situation of bitcoin almost few weeks back. It is well known that the price movement of bitcoin gets followed by majority of the altcoins in the market. This is why most of the altcoins drop when bitcoin is bearish and bounce back. Those day's market situation and today's market situation have got some close relationship. By then bitcoin fell and every altcoin fell. Now too same situation.

What we saw  around 4 A.M yesterday, is just a sign that bitcoin, ethereum and BNB are about to hit higher for their investors to start hold for future profit making. Now that those three coins are no longer stable since yesterday night, it maybe the price of bitcoin is about to move to another level for investors to make an income from their investment. Even though any coin want to drop, it will not be bitcoin because bitcoin is still showing some signs of improvement in the market.  This things that happened to market price, it will not last because this is the month many investors use to make money to celebrate Christmas and new year.

Yes you’re right about that, everyone who is taking a risk should be taking a measured risk. If you’re doing something like this and you just jump into it without making a proper plan on how you’re going to be taking your steps, you’re just going to end up losing your money and having some serious problems with that.

So, it’s always very important to be taking calculated risks in everything, especially when you are investing and trading cryptocurrency. I’ve heard some really bad stories about some people who lost money in cryptocurrency, and how some of them decided to like take their life because of that, which is totally wrong. And I believe people like this wouldn’t have done such act if they were well informed and also took calculated risk , knowing the level of risks that they are facing in the market.

For newbies, it's definitely confusing to see that some coins follow the Bitcoin price and some don't follow the Bitcoin price. That is
the importance of learning about the crypto world first, before deciding to invest in crypto. So we can understand how the crypto world works,
because there are many factors that make crypto prices move up or down. It is not easy to predict crypto price movements, knowledge and
experience are required, to be able to do research and analysis of market movements. Usually, top altcoins often follow Bitcoin price movements,
while shitcoins move differently from Bitcoin price movements. That's why top altcoins are always recommended for investment, because
their movements are easier to predict than shitcoins.

dare to take steps and dare to take risks but with a measured analysis, and even then sometimes we are still toyed with emotions, therefore by being able to control emotions in any situation, then we will be safe. at least we know if bitcoin has decreased it is a sign

Good for you, it's a wise investment indeed. But you have to understand where the OP is coming from, he hasn't invested yet so maybe he is a person that doesn't risk or at least wanted to mitigate it first before investing in crypto. Y

es, most of the time, when bitcoin goes down, the rest of the crypto goes with it as well. As bitcoin is the prime mover and every crypto is being traded with x/bitcoin as trading pair so it is obvious that it will have a big effect on every coin out there.

If you think in this manner then you won't make any investment. I had some cash with me and the my mentor said I should not just lavish the money but buy Ethereum with half of the money  and it was around $1908 which means now I have double the money even if I decided to cash out now, this means you just need to take the step

I guess this is your first time seeing such a thing happening in this market, because this is nothing strange at all or new in the market, it happens regularly. There are a lot of coins in the cryptocurrency markets that correlates with Bitcoin, whenever Bitcoin goes down these coins are more likely to also go down, and the same thing happens  the other way around when Bitcoin increases in price.

So, the reason you have seen Ethereum and other crypto currencies you have been watching go down with Bitcoin is because they correlate with Bitcoin. There are also other cryptocurrencies that don’t do the same thing, they move on their own and don’t follow Bitcoin to any direction it goes. As time goes on you get to learn a lot more in the market.

As many others have already pointed out, and as it’s been going on for a very long time now, bitcoin is the tide that makes all the boats rise, or fall, for that matter. It seems rare to see when coins don’t follow bitcoins lead whether that’s up or down.

Based on the graph above, true as you say. The meaning of my writing, bitcoin movement is a little slow not completely wrong. Bitcoin took several months to reach its highest price. Take a look at the picture above, there are no vertical green line like a coconut tree. Move slowly, although at this time the price of bitcoin is at its peak, but bitcoin takes time to get to the moon

See a chart of bitcoin price movement since March 9, 2020 until now below:

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My little explanation about the chart above.

If you think that in 2021 bitcoin price movement will be a bit slow then I think you are wrong. The chart above starts on March 9, 2020 up to now and I took 1 week TF so you can judge whether your assumption about the slow price increase are right or wrong. I can say that you are wrong because there are enough big move in bitcoin price in 2021 that people realize that bitcoin ATH will hit. Obviously I'm saying it based on fact, and the chart above is a fact that bitcoin price movement are never slow.

Profit taking took place en masse, as a result could damage Bitcoin price fundamental, because the money will flow to Altcoin. But if we look at the movement of Bitcoin in 2021, Bitcoin price increase is a bit slow, so many traders don't realize that Bitcoin goes up little by little every day. Although this month a lot of big events happened to Altcoin, will not damage the fundamental of Bitcoin price which makes the price lower. In my opinion, The price of bitcoin this year is better when compared to 2018-2020.

sometimes, the coin will flow reverse from bitcoin, and vice versa. if it 100% all of coin following bitcoin movement, it will be easy for trader, they know how to deal with the price. the fact, i have coin, will increase it price slowly if bitcoin price down, slowly but sure its take moment to drop on the first price.

The only way to avoid dips is to swap for usdt or other stable coin but mind you if you want to invest in any coins it's safer to get in early, I can watch my portfolio goes down 50% and not worried because I got in early, the most dangerous thing to do is buy when coins are surging

There is nothing wrong with trying to do both, however most people would recommend at the beginning to only concentrate in one of the two options, but why is this? And the reason for that has to do with the fact that day trading and long term holding requires complete opposite skill-sets, just mastering one of them is already difficult enough so mastering both at the same time while being relatively new to the markets is something incredibly difficult to do.

actually all altcoins go with the flow of bitcoin prices this is a sure thing and all furum members already know and this is no longer something to be questioned, while meme coins like shiba sometimes don't follow price trends "This seems to be driven by idle buyers and hope to get it now."

That is indeed the world of cryptocurrency and of course the influence of bitcoin on altcoins can be said to be very strong,
but indeed not all altcoins only follow bitcoin,
and we can see meme coins like shiba are currently on the rise and don't know when it will end

Thank you all! this thread is turning into a bonafide crypto encyclopedia, and I'm loving it!
Yeah, now that some time has passed, I can see you guys are right, there's basically nothing to it. So far, I'm reading whitepapers (ETH whitepaper turned out to be another disappointment though), and slowly coming up with a list of currencies to buy, maybe.
In his course, Chris Haroun advises people to have a long term view, as opposed to a day trading attitude. I can understand that. My question: would it be wrong to do both?
In any case, these are the coins I'm looking at, so far. In all cases, with any luck, I should be starting with $10-$15 each.

BTC
ETH
BNB
LUNA
XRP
ADA
SOL

Anything you guys see (good or bad), that I might be missing?
In the (maybe near) future I'm looking at investing on WOZX, as I strongly believe in their mission, and it's been down for some time. But we'll see...

Well because bitcoin like mother of cryptocurrency in this crypto world mostly other coins will follow bitcoin trend, only some coins have their own trend. But also remember regulation really important for every coin in this crypto space, but when an altcoin got good news only that coin go uptrend while the others not xD

yep , most of all your saying is true , like BTC going crazy on october, altcoin even ETH going down, since the phase still on bitcoin, after Bitcoin reached new ATH , even BNB still strugle under $450 on that time , but now, the phase has changed, people who got some profit from btc october has selling his btc for new rally of altcoin, right now , we can see it happen, also on this month, many many major event from Medium caps altcoin happen, like EGLD will launch egld ecosystem , polkadot with parachain , and many more, no wonder altcoin will pumped this month, just pick the right.

I think this is something that is natural, when bitcoin prices go down most altcoin prices (eg BNB and ETH) will also go down. according to my observations the average altcoin price is indeed synchronized with the bitcoin price, this applies when the price is rising or the price is falling. when prices are down the percentage of price declines on altcoins is usually higher and vice versa when prices are recovering the price increases on altcoins are usually higher, this is according to my observations.

#
The answer is nothing peculiar. That is how bitcoin and crypto in general move - volatility at large in the short term, that tends to equally encourage, deter and cause dismay for the newcomers while there is a clear growth tendency in the long term that frequently draws investors back into the arena. Your choice: stress yourself and ask yourself about the short term movements or ... HODL

That is basically the reality of this market, what we must understand is that the market cap we see in most websites is fake for most altcoins, basically if an altcoin has 10 million coins of supply and one of them sells for one dollar suddenly it is believed that coin has 10 million dollars of market cap when this is not true, the market cap of altcoins is many times smaller than what we see, and when we add that almost all real transactions are done with bitcoin this shows that altcoins are not only not necessary but an obstacle to the progress of bitcoin.

I noticed some negative challenge in the market few days ago about the decreased of bitcoin and other altcoins in this new month. The price of bitcoin and ethereum is not looking beautiful to the eyes of the customers and many customers are wondering if to hold till the price hit higher or to sell before the price will still reduce more in the market.
Since bitcoin and ethereum are giving some signs in the market recently show that the price will not be stable enough for the investors to make a good profits from their investment. Many investors are seriously worry about the drop of bitcoin and ethereum which  has been dominating in pumping, since the beginning of this year 2021.

The assumption that Bitcoin and Altcoin have mutually influencing relationship between the two are not always true. There are certain times when the price of Bitcoin goes up some Altcoin actually goes down. Cases that we often encounter in the crypto market when the price of Bitcoin increases, the price of Altcoin also rises sharply.

There comes a time when the price of Bitcoin goes up, some altcoins actually experienced a decline, Altcoin will be begetting worse as money flows into the Bitcoin market. But on the contrary, When the Bitcoin price drops, Altcoin are experiencing sharp gains as some money flows into Altcoin through Bitcoin sales.

Dips are simply corrections it's not something a crypto fan must be fear of, corrections brings opportunity and crypto is highly volatile, if you want to buy these coins it's better to buy when a correction is ongoing, check the price today you will see that they have pumped back up, I hope you learned something from this

i call it whale's game , usually when Bitcoin fall, the rest of coin will follow , i just have crazy speculation most of major cryptocurrency has holded by 1 big player, or team or organization, of course you can ignore my speculation. but , to be sure ,its not like panic market for me.

Basing up on couple of years of experience dealing with crypto space then this is something a really normal thing on where Bitcoin is really the ones who do really make out some trend most of the time.
If it does have some bearish run then expect things turns out to be this way after some time.Although there are coins which is really making some opposite direction because not all would really be talking about trend but also it talks about demand which makes a certain coin/project to be valuable despite of the trend that we are currently facing.
So actions will vary on which step you would tend to make out.

Probably the only thing I believe will have happened then was maybe thier was a sudden drop in bitcoin price will affected the coins to and maybe bitcoin recovered immediately again that was why those coins followed it too, so whenever you want to buy a coin you can wait till whenever bitcoin is dumping because those coins will also dump to and you can buy. Most coins always follows bitcoin movement.

The cryptocurrency market is joke at this point.
What's the point of almost all altcoins,since all of them are following the Bitcoin price?
Even ethereum,which is supposed to be the main competitor of Bitcoin.Why the ETH price still follows the Bitcoin price?In a normal market,the traders would dump one coin and pump another.For instance they would sell BTC and buy ETH,therefore pumping the price of Ethereum and lowering the BTC price.This doesn't happen in reality.I guess that all traders just buy Bitcoin+altcoins in a bull market,but when the market goes down,they just sell Bitcoin/altcoins and buy stablecoins or fiat.
Like I've said before-Altcoins aren't real competitors of Bitcoin,they are just an addition/supplement to Bitcoin,but this addition or supplement isn't really needed.   

That's the influence of BItcoin which causes almost all Altcoins to follow its movement, both prices go down and high.
I've been watching this for a long time and it's always the case except for some new altcoins.
I think it's very natural that when Bitcoin goes down, other Altcoin holders also sell their coins causing the same decline.

By nature people are always looking for reasons behind everything that happens, the problem is that this can create mistaken explanations about what we see, and this is extremely common in the world of cryptocurrencies, many times a movement is attributed to some news that appeared when many times such a direct relationship between the news and the movement of the price cannot be established, with that in mind the only explanation that makes sense 100% of the time to explain what we see in the market is the law of supply and demand.

Hi BernyJB, you’re welcome to the cryptocurrency forum. You see, in the cryptocurrency market, bitcoin acts as the market sentiment indicator, and another reason because altcoins are trading pairs with bitcoin, so their market price usually correlates with bitcoin. Ethereum is one of those altcoins that are usually making move that is close to Bitcoin; when the market price of bitcoin goes up you’re usually going to also see the price of Ethereum go up. And this is the case for a lot of other altcoins we have in the market, but there are other cryptocurrencies that are different though.

Yeah just like the other day when bitcoin price dropped down from 20k to 3k ..

people getting scared that time and selling it all at once rather than be patient and keep buying to counter their losses buying at high to accumulate it and get a real huge profit now at the highest level of all time.
can you see the pattern now?
the current price drop mean nothing if you stick to the plan to hold it in long term... losing 20 50 or even 90% if you keep buying and accumulate it till the green light turned on.

This is clear why Eth and BNB follow BTC, because almost 50% of the total market cap is BTC, that's the main reason. But, for why the price goes up and down, there are many reasons for the case. You can learn the reason with 2 approaches based on the theory. You can use the fundamental or technical side for learning the price movement. For me, supply and demand in the crypto market are really unpredictable, you don't have any reminder for ur portfolio when the market goes down. This is purely just because of the market issues, although you are looking for basic data which is related to the price, you will be stuck on the issue side only.

The majority of the coins in the market are paired with Bitcoin and they follow the price of Bitcoin, it's been like this ever since, but there are instances where certain altcoins go the other way, I have some coin that goes a different direction that is they are pump when Bitcoin is going down, just buy coins with potential that will contribute to the community and technology and your investment will turn out ok.

When Bitcoins goes down, most other alternative cryptocurrencies go down too, it's the first crypto ever created, thus, everything else is closely correlated to it. What you've mentioned could be a simple coincidence, Bitcoin is volatile, and so are all cryptocurrencies (except stable coins of course, which still show some level of variation).

You could perhaps start slow and slowly build on your portfolio, by purchasing a variety of coins, such as Ethereum, Litecoin, Polkadot and plenty of others, depending on your budget.

Welcome to the forum, always great to see new users. Following bitcoins and other crypto currencies will show you more sich synchronised price changes in the future. Bitcoin is still the largest crypto market and has a large influence on other price. That is why we see such strong correlations between cryptos. So every time bitcoins are falling it is very likely that the alt coin market is going to follow. But the larger the other crypto projects become the more independent they should also become. In my opinion the correlation between crypto coins should be weaker in the future and get more into the direction of stocks. Where there is still general market risk that affects all stocks at once but also individual risk.

I even noticed that bitcoin increment in market affects other cryptocurrencies, whenever cryptocurrency especially bitcoin speed up in market price other coins as well follows it's movement, so you are right, the only coin that can withstand bitcoin whenever is going down via market price is a coin that it's demand is of a higher potential at  movement, but if really observe well during the period and btc keep on going down, no matter the status of the demand it will revise and follow the steps of bitcoin decrement. I have noted this experimental analysis of coins joining bitcoin for both increment and decrement for long time period.

Welcome to the daily fluctuations of bitcoin price.

If you look on the charts of all major asset classes, including BTC, you'll see these so called "patterns" forming all the time.

They don't mean anything and it doesn't necessarily have to be caused by anything in particular either. Just stay the course. Time in the market > timing the market.

A situation that is natural for you to experience, because that is the most exciting part of crypto trading. You will find many things that are unexpected. Of course you just need to learn to observe the market situation according to his ability. Don't push too hard. little by little later you will understand it gradually without the need to rush. The most important thing is that you learn to control your mentality and not be easily influenced by news that can make your trading mental bad.
Always have trading principles and discipline from an early age. Instill positive thinking that every price movement is relatively up and down. May your trading be profitable.

They've turned into blind when they read those potential profits that they can make. But in reality, they don't need someone to invest for them but only themselves that can buy bitcoin for their own. These scammers never stops to target newbies and those that don't research. So, it's two things, those that do research can avoid scammers and as well as they can know what are the good coins to invest with their hard earned money.

I can personally attest to that. I have seen people actually buying Bitcoin (which is obviously the preferred crypto for many scammers) without even having a clue what a cryptocurrency is. They're told they'd have BIG profits (we're talking 1000's % a day) and they go in blind. Could never understand that specific breed of idiots.

Welcome into the world of crypto investment on which everything could really changed in trend in instant which means that price could really move in different manner with having unexpected behavior plus having no definite reason for you to say which would really be giving out that kind of question in mind which you should really be that
being aware on how things do move on this market so that you wont really be shocked whenever you do encounter or experience it.News and events could really be
possibly give out some impact towards market prices thats why you should really be wise and prepared whatever possible actions you would need to make.

There are investors that don't do research when they invest into the cryptos that they hold. They just buy it whenever they want to upon learning that those cryptos they've bought have been flying high. That's the start of the wrong decision of not learning to understand how the market first before investing. It happens most of the time and they can no longer pull back but upon experiencing the volatility of the market, they're learning it through experience.

Because, most investors and traders are dealing with multiple coins at a time for diversification reasons. When you get a negative or positive news and if you are an active trader then what will you do? You may do same type of decision for all your coins, right? Because, your ultimate goal must be making money and the news you got may impact all the cryptos in general (China's recent ban on crytpo activities must be such a common news for all cryptos). So, it is most common like frequently happening that all cryptos are heading in same direction. So, nothing strange on what you have observed.

Yeah. It's not like I've got scared, it was a minor dip anyway, I just found it surprising that they all seemed to follow Bitcoin almost to the minute. Now I'm starting to get it. Probably some fair amount of panic selling involved.
Either way, I'm learning a lot, and loving it. Hopefully in the next few days I'll be pulling the trigger.
Good thing is I'm a Linux user, so I don't have to worry (that much) about viruses and whatnot, and a few past experiences have left me very paranoid on the subject. Got a cold(ish) wallet already waiting, all I need is to get some money. 

about this I also think the same thing, indeed there must be a point where the price of bitcoin goes down for one good reason, and goes back up for some reason too. but this is very unlikely and indeed rare cases like this.
yep it's like you said
when I first entered the crypto world I was very surprised by that why they went up and down at almost the same time,
but more and more I realized about the system that is here and it's no longer strange now to see things like this.

As long as we can follow the price moves and use that for our own benefit, we will have a chance to make a profit. Yes, I agree that doing more research will help us know the situation in the market. We do not have to force ourselves to enter the market, especially if we do not get a good result after analysing the market. That is why taking a break for a while is better than forcing you to enter the market.

If @OP wants to invest in bitcoin, ethereum, bnb, he should wait for the dip and start to buy the coin in any amount but it is preferable to buy at many low prices.

As you have seen the drop it also prove that cryptocurrency is not stable so expect any increase or decrease of price. Another cryptocurrency will follow bitcoin either in increasing of value or decreasing. Do more research.

By knowing that it is not a stable asset, we mentally prepare to be patient and observe movement calmly. what we have to believe is that later the price will exceed the current purchase price, and at that time we can take profit according to the target. therefore we have to hold back to panic sell like most people's mistakes

To invest in bitcoin you need to understand the volatility of the market and learn about the market well market movements are always fluctuating so it is a good decision to hold on to get the right price. Investing in bitcoin and other cryptocurrencies is becoming more popular as the technology grows in popularity and the media promotes enough for their lucky ones to make it bigger through investment. Hold is held onto bitcoin or other crypto even when its price is falling or rising sell your bitcoin when it increases in value by 10%.

It's not that to ask if you don't understand something like the volatility but to understand what you are investing you should really know what are the pros and cons so that you won't be surprised if something ever happened to your investment. But worry not since this is just the normal movement of the market and if you look at the chart all over the years, Bitcoin isn't really dropping or depreciate but it's appreciating over the years. Although, it just takes time to get to this price, it's just you HODL your Bitcoin for long term investment.

We all keep asking this same question a lot, what happened to Bitcoin and other cryptocurrencies? Well, these are volatile assets that you are about to invest in, so you should always expect some decrease and increase here and there. It’s not going to be a stable investment, at every second the market is going to get a shake and the price will change even to the least you expected.

Yes sometimes we do see events that take place and trigger all these changes, but it is not all the time that all these things happen, so just take it that there are times it is bound to happen even without any event having to take place. You know the market is based on demand and supply, so that’s also going to play a role on the market price

There are rarely any specific cases where bitcoin price drops for one exact reason, and goes back up for a specific reason as well. It is usually something that market does all by itself and then recovers whenever it wants to. This time around it was something in the 24 hour margin and that happens all the time as well, it is not very unique or rare.

You have been checking just 3 coins so you saw that, but if you checked the whole market you would have seen a lot of coins went down at the exact same time and went up together as well. This is something you will keep seeing in crypto world many many more times in the future. Also welcome to the crypto bandwagon, it is really profitable, hope you have fun.

@OP, you'll learn that the market is synchronized with bitcoin and taking it as your first investment is always the best idea ever. Just go along with the market and you'll learn a lot from it and don't stop asking question that confuses you to make you understand more about the market's volatility.
It's just your start upon asking what has happened and there are factors triggering the dips and pumps through good and bad news.

Silberman: that actually makes a lot of sense, especially when you consider a lot of the response to a coin's movement may be automated. I hadn't thought of that.

andriarto: that's what I wanted to know. I've been researching for a bit over a month (including the aforementioned course), but it surprised me to see such a fast reaction from other coins.

Darker45: sorry, that wasn't my intention (and it sure isn't my intention to make a disaster with my money...  )
Either way, I'm intending to start investing on 6 different coins (including bitcoin, ethereum and bnb). What I meant was, if I'm investing in a number of different coins, it would make sense to get coins that are not going to crash all at the same time (yeah, I understand there's no way to really know). 


Oh, I know it's not a bug.  Bugs don't take 12 years to fix. I'll have to disagree on the "feature" thing though...
Having an unknown founder also means there's nobody responsible (legally) if things go south. For all we know, Bitcoin's founder could be Bernie Maddoff, or Kenneth Lay. The point is transparency only works if you display it always, not only when it's "convenient" to you.


I understand that, but Bitcoin's owner(s) have had 12 years to state their purpose. Articles are, at best, educated guesses. I'd like to see an official statement, straight from the coin's owners, to that effect

Just to make things clear: that doesn't mean that Bitcoin is a no-no for me. I'm considering to (ideally) start on at least 6 different coins, and I do acknowledge Bitcoin's pre-eminence on the market. But I wouldn't even dream to have a 100% Bitcoin portfolio.
The reason I started the thread is because, while I'm aware of the market's fluctuations, it surprised me to see such a fast reaction from other coins (especially Ethereum and bnb) to Bitcoin's dip.

In any case, this thread has been very informative to me. Thank you all for the help. 

The title of this thread is confusing and hilarious. Coming to the topic itself, the cryptocurrency market is extremely volatile op which is why these dips and surges are a regular thing honestly speaking.

You need to check the news regularly to understand the reasons behind these surges and dips though there is no reason sometimes. Invest only what you are willing to lose.

Starting a course on bitcoin does not 100% help you to continue to profit. The reason is that cryptocurrencies are unpredictable, price fluctuations will always occur at any time, within 1 hour Cryptocurrency movement can push prices up 100% and down 120% an hour later.
To avoid the risk of losing a lot of money, You need to be careful with the news sources you get and Always avoid crypto trading from expert advice, friends or Influencer.

Before you trade in crypto, it is very important to have personal knowledge and analysis to make the right decisions and be aware of the risks that can occur at any time.

#1 is not even a problem imo, Bitcoin works as intended and would continue to do so with or without the influence of its founder, it was made that way after all. It pushes forth the idea that Bitcoin isn't influenced by any factors other than the general supply and demand. Honestly, if you're looking at it as an investment then nows the right time with it being only a decade old. It is designed as a currency after all, so I'd reckon after a few more decades price would gradually stabilize, or at the very least, have minimal movement that could negatively affect transactions done through it.

It's a feature, not a bug. Having an unknown founder means that we have no idea about his/her/their political views, other intentions, etc. And especially knowing that the founder isn't active anymore, it makes the decision making around Bitcoin's protocol updates more decentralized.

Take note that all the cryptocurrencies you can see right now on CoinMarketCap doesn't exist at the time the Bitcoin whitepaper was written. Bitcoin bootstrapped all that. If you really want to learn Bitcoin's advantages though, you'd have to look outside the whitepaper, on other articles. Obviously because Bitcoin has almost nothing to compare to back then.

Uh uh, this is going to be a big disaster. This is oversimplifying things indeed. Not only should you choose altcoins which follow Bitcoin's lead, if possible choose Bitcoin itself. Why do you have to choose a different coin when you can choose the one that leads?

Actually, while it may be often true that when Bitcoin dives majority of the altcoins also dive, and that when Bitcoin starts to recover the altcoins will also begin to recover, it is also true that when Bitcoin is so bullish that it rallies so high and quick most of the altcoins will suffer.

if you look at the three are the top ranking in cryptocurrencies, with bitcoin as the leader over all existing crypto. price formation is based on the law of supply and demand, when they go down and up at the same time then there is a transaction in the same direction, and I think this is still preceded by bitcoin's price reaction

I suppose you are familiar with the concept of correlation, basically since bitcoin is so dominant in this market, as the majority of the real world usage of cryptocurrencies comes from bitcoin, then this means that if bitcoin moves in one direction then the other coins in the market move in the same direction with a similar magnitude, so this solves one part of the mystery.

However why it happened around that time? Most of the time the most likely explanation is this happened because of supply and demand, basically there was enough demand to move the price to a certain threshold, this fired up the buy orders from traders and bots, which in return did the same for other traders and bots, so as you can see there is not a big mystery there either and it is just part of the natural movements of any market.

Thank you both.
I'm trying to learn as much as I can right now, before spending any money, or even making a decision.
I understand the importance of Bitcoin in the crypto market, but to be honest, I have at least two big problems with it:

1. In a market that boasts transparency, it remains a coin with an unknown founder.
2. I have read Bitcoin's whitepaper, and it's mostly an essay about the advantages of cryptocurrency, but not about Bitcoin. 

So while I have already decided I will most likely include Bitcoin in my future portfolio, I'm definitely not putting all my eggs in that basket...

it is like that but indeed although most of the altcoins are following in the footsteps of bitcoin but there are some altcoins that stand alone.
and when you want to adopt and invest here I think it would be better if you focus on bitcoin and some of the altcoins that you like, indeed the risk may be very large but with the current volatility of bitcoin and adoption a lot is done and bitcoin recognition continues to increase I think bitcoin will still be good and there is nothing wrong with being here.

You can do that and there's nothing really wrong with it, although a word of advice, not every coin that doesn't follow bitcoin's lead tend to stay against bitcoin's movement. At some point, it has to come back and follow bitcoin's waves as its market activity will soon wane, and the money flowing in to that said coin would have to flow somewhere else once traders have already collected their profits.

Then again, cryptocurrencies are extremely unpredictable. One day, every coin follows bitcoin's movement, the next, they don't. It's just a matter of luck and how you read the markets. Pick coins that still has utility apart from being used as a cash cow by lots of traders.

Got it! Thank you all for the replies.

OP, you're just starting out in the crypto market, and you've made one observation which I'd advise you to not expect to hold true in all cases.  If bitcoin and various altcoins behaved predictably, everyone would be getting rich trading and you wouldn't need to take a course to do it.

The truth is that crypto is extremely unpredictable, and bitcoin may or may not move in lockstep with altcoins.  Sometimes alts move by themselves (up or down) based on hype, increased demand, selloffs, or what have you.  You can look for explanations and listen to members give their thoughts on why the bitcoin/altcoin markets move together (or don't), but in the end you're the one who's got to pull the trigger when it comes time to trade--and don't expect the market to do what you want or expect it to do, because oftentimes it doesn't.

Good luck trading; I sincerely wish you the best, because it's not easy.

Yes, it's really just THAT synchronized most of the time.

Not that I know of. If they was any news, it's probably nothing major. It's just that people in the cryptocurrency space are mostly inexperienced retail investors/traders, that they can switch from bullish to bearish and vice versa in just a flip of a switch. Hence why price movements are sometimes exaggerated, because people buying/selling can trigger a sort of domino effect.

That's what I mean. I understand that most cryptocurrencies would follow general trends, but all three took a dive and recovered within minutes of each  other, and in all three cases the movement is not all that different.
For example, when Xiao Jin Ping forbade cryptos in China the crypto market (understandably) took a hit. Is there any external factor that affected prices yesterday, besides  normal market variability?

I think it might be missing the point, because, almost all coins end up following bitcoins lead at some point in their life and you're probably not going to notice when that starts.

If you want to invest exclusively in crypto - buy bitcoin or buy it with another coin you like the concept of and think will do well (especially if it's big/open source, on exchanges etc).

If you want to protect your investment - look at stocks&shares too and other assets you find interesting that are more stable.

Some coins can be independent, especially if they're low market capitalization barely known ones, but it's risky to invest in them because they are even more unpredictable and aren't really valuable for their users (people only buy them to get rich quick). So why not follow Bitcoin and simply take into account that major altcoins often follow its main tendencies? Sometimes they follow at a delay, so you can hypothetically take advantage of it. For example, the previous ATH was reached by Bitcoin in April, and Ethereum followed in about a month. Then Bitcoin reached the ATH on October 20, and Ethereum reached it yesterday.

It's not that most coins follow bitcoin 100% of the time. Coins/tokens can move on their own even if bitcoin is stagnant if there are lots of people buying/selling it; due to various reasons like good news, influencers trying to pump their price, or maybe sometimes people just like the concept. Like how U.S. stocks individually move on their own, but almost all of the U.S. stocks crash in a synchronized manner when there's bad news concerning the government and/or the economy.

Now, what you should do will depend on what your end goal is in the first place.

Oh! I see...
so it would make sense to get coins that don't follow bitcoin's lead, then. Am I right, or am I oversimplifying it?

If bitcoin falls, like 90% of the time, almost all cryptocurrencies follow. The only ones that don't follow down are the ones who has heavy buyers in the first place.

Why is this the case? Because bitcoin still acts like sort of the "index" of the cryptocurrency markets; and that coin/BTC is still one of the most liquid trading pairs available on exchanges. even if coin/USD is slowly but surely catching up.

Hello everybody, first time here.
I wasn't sure where to post this, please feel free to move it if I messed up.

Thing is, I'm yet to start my investment (maybe in the next few days). I've just finished a course by Chris Haroun on the subject.
So I've been keeping an eye on the prices of Bitcoin, Ethereum and Binance Coin for the past few days. As you all know, all three coins took a dive yesterday. What I just noticed is that all three fell about the same time (around 4 A.M. yesterday), and recovered also about the same time (24 hs. later, about 4 A.M. today).
Did anything happen, that would cause such a synchronized dip and recovery?
Thanks in advance.