What kind of magic is this? - page 7.

CryptoBry

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Quote from: annicketucufaw on July 19, 2018, 10:39:36 PM

I've been monitoring the market for a couple of months now. Most of the coin value rely on the price of Bitcoin. If the BTC price goes up, every altcoins will follow and if it will goes down, the price of every altcoins will goes down as well. But the question is, Bitcoin price/value is still going up but the price/value of every altcoins especially Ethereum goes down. How did this happen? Any logical or scientific basis to explain this. As of now, I am still confuse. Huh

I think you are not the only one wondering what happened and what can be the cause of this strange movement. Well, in my own analysis it can be because there remains a shortage of "investors" or buyers in the market and the rise of Bitcoin happened because a bulk of money shifted into it from altcoins so in this case altcoins are left on their own feet...decoupled from Bitcoin. Will this trend be continuing for the next few months? Nobody can be sure. It seems that now we are presented by Bitcoin with a big choice...its Bitcoin or altcoins nothing in between.

hewbrowden

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Quote from: annicketucufaw on July 19, 2018, 10:39:36 PM

I've been monitoring the market for a couple of months now. Most of the coin value rely on the price of Bitcoin. If the BTC price goes up, every altcoins will follow and if it will goes down, the price of every altcoins will goes down as well. But the question is, Bitcoin price/value is still going up but the price/value of every altcoins especially Ethereum goes down. How did this happen? Any logical or scientific basis to explain this. As of now, I am still confuse. Huh

I think that people only saw an increase in the price of altcoins, immediately began to sell them, so they are cheap. Unlike the audience of Bitcoin, which is more patient.

indrakusumaindra

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Quote from: annicketucufaw on July 19, 2018, 10:39:36 PM

I've been monitoring the market for a couple of months now. Most of the coin value rely on the price of Bitcoin. If the BTC price goes up, every altcoins will follow and if it will goes down, the price of every altcoins will goes down as well. But the question is, Bitcoin price/value is still going up but the price/value of every altcoins especially Ethereum goes down. How did this happen? Any logical or scientific basis to explain this. As of now, I am still confuse. Huh

Market are affected by many factors, so i do think anything that related to cryptocurrency is affecting the price (regulation, news, partnership, development and etc). Eth is still in a good shape i believe and why market more into bitcoin right now? cause i believe seems like the ETF will be approved by SEC and bitcoin will become an legal ETF. Many investors saw this condition as a opportunity and this the reasons why the demand is increasing right now.

link for bitcoin etf : https://cryptoslate.com/bitcoin-etf-comments-submitted-to-sec-overwhelmingly-positive/

Hozaim

newbie

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The majority of the investors are investing in Bitcoins instead of on the Altcoins. Altcoins are still doing not that good for the past couple of days as compared to Bitcoins. This is raising serious concerns for the investors towards the future of the market.

Vandemos

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Quote from: asdlolciterquit on July 23, 2018, 05:54:31 AM

well, i've been following the crypto's market for years, and i really don't know any 100% secure reason.

I simply think (like many others) that the market is manipulated...

I do not agree if the market is being manipulated the price,
prices tend to rise as the interest of the world community, interested in bictoin grows

BTCHeadstone

newbie

Activity: 80

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After doing some speculations, the majority has went for the reason behind the world cup. Since the funding was done on BTC, it was a way to eat away on the ETH. Therefore the price of BTC increased and that impacted on the ETH.

lena1

jr. member

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There is no magic here, just the market needs time, and then prices will start to catch up!

GirlBitcoin

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Quote from: annicketucufaw on July 19, 2018, 10:39:36 PM

I've been monitoring the market for a couple of months now. Most of the coin value rely on the price of Bitcoin. If the BTC price goes up, every altcoins will follow and if it will goes down, the price of every altcoins will goes down as well. But the question is, Bitcoin price/value is still going up but the price/value of every altcoins especially Ethereum goes down. How did this happen? Any logical or scientific basis to explain this. As of now, I am still confuse. Huh

This is simply because investors pour more money into Bitcoin than other altcoins. It seems the market has changed the way it works. We should get used to this because running the trend is always a good move.
Those who stay with old things, it is difficult to become rich.

target

legendary

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Quote from: CryptoSimmonds on July 23, 2018, 05:46:52 AM

I don't think it's like this.As bitcoin is that much that's why you compare it with others. Crypto market are not stable all the time. May not the price are depends on only BTC.

Not stable is what they always say when as a matter of fact its always been not stable even when it goes up way like how it did last December its still not stable. And so its all true, it did drop to $6K because its not stable. The truth is its how crypto market goes, it can extremely go up and it can also extremely go down. There is no magic to it as traders take profit all the time.

asdlolciterquit

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well, i've been following the crypto's market for years, and i really don't know any 100% secure reason.

I simply think (like many others) that the market is manipulated...

marn6767

member

Activity: 252

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As friends say, this is probably the world cup. As most betting sites are looking for money laundering, bitcoin is on its way to rising. Money withdrawal process is done after the money laundering process

CryptoSimmonds

newbie

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I don't think it's like this.As bitcoin is that much that's why you compare it with others. Crypto market are not stable all the time. May not the price are depends on only BTC.

Doell

hero member

Activity: 2156

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All crypto trades are not like you experience that the asset is not under the control of bitcoin value ,well it does participate in fiat exchanges but ether is also traded in bitcoin and if bitcoin rises in fiat exchange then other altcoins are not always on the same path right ,this is unpredictable scientifically

trecore4

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Because that last event specifies that the altcoins doesnt depend upon the bitcoin at all. Yes we have seen many times that altcoins and bitcoins graphically go up and down in the similar fashion and thats the effect which is because of net market cap and not because bitcoin is going up and down. Currently the ETH is struggling with its transaction speed and thus scale up is being issue that pulling the ETH backwards these days. Its really struggling for sure. Always remember that we can not completely relate an altcoin or bitcoin for many reasons. Currently what matter is how they all will perform in the long duration.

SnodGrass74

newbie

Activity: 79

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Altcoins are invisibly connected with BTC as it is the first coin of Crypto- world. If the BTC price goes down it takes every altcoins value with it. It is not magic, rather a fact we are observing from the starting of Crypto-space. Yet the ETH and BTC fact is really confusing, thus you may observe for more time to understand the real fact regarding your conditions. Also, consider the factors affecting the price of Cryptocurrencies.

UAE Seasider

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The market has been like this for a long time. Nearly all of the other currencies are tied to the movements of Bitcoin it isn't any type of magic simply the market ratios of the overall crypto sector and that Bitcoin is a major trading pair with nearly everything. This world cup betting theory is pure nonsense, most gambling happens with FIAT the crypto betting market is a fraction of that.

CottonGuy

jr. member

Activity: 185

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It's much convenient to use BTC nowadays than Eth due to the network congestion of ethereum platform and high fees. There are lots of people who shifted to other coins from Eth because of too much gas price needed for every transaction and the delays and sometimes even failure of transactions if you ran out of gas. Most newbies doesn't really know anything about the gas fees of how much really is needed to prevent such failures of sending Eth. So it's much better to use bitcoin right now. That is why its price is increasing.

Herbert2020

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Quote from: annicketucufaw on July 19, 2018, 10:39:36 PM

But the question is, Bitcoin price/value is still going up but the price/value of every altcoins especially Ethereum goes down. How did this happen?

because this has always been like this!
when bitcoin goes down => altcoins go down also
when bitcoin rises up => altcoins go down instead

reason? i believe it is mainly because the money always goes back to bitcoin which is the only coin that everyone really cares about and believes in when it comes to real investments.

and there is a couple of exceptions to the above rule:
when bitcoin is stable => altcoins get pumped
reason? because during bitcoin stability traders can not make the same profit from it so they go to pump altcoins and make profit

when an altcoin is already on a pumping spree => that altcoin pumps
reason? because you can't stop a pump from happening. when the rocket is launched there is no stopping it until the pump reaches its peak of the bubble and then there is no stopping the bubble burst and the dump.

sweetwine

newbie

Activity: 64

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I think altcoins will soon follow bitcoin.
Bitcoin just changed too fast that altcoins did not have time to behave accordingly.

Walexizi

newbie

Activity: 200

Merit: 0

The increments in the coin when the bitcoin rise is because, bitcoin is the backbone of most coin and why the increments doesn't affect ethereum is because both bitcoin and ethereum are not on thesame blockchain.

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