Just as the reference currency in the international monetary system changed from pound to usd in the early 1900s, bitcoin is slowly becoming less of a SOLE reference currency in exchanges. Many exchanges have already added eth-pairs, ltc-pairs or even dogecoin-pairs.
U've to understand that a lot of the correlation in cryptocurrency fluctuations does not occur in this manner: (i) bitcoin moves first, (ii) then altcoins follow. Sometimes the two are simultaneous, due to the fact that events such as news of trading bans etc. cause a drop in sentiments in the crypto-markets AS A WHOLE, or good news such as the crypto hearing in US lifted market confidence AS A WHOLE.
Presumably when mainstream acceptance of all crypto grows, and systemic shocks to the cryptoverse are rarer, there is a chance for altcoins and bitcoin to decouple. I.e., Altcoins will presumably gain more independence from bitcoin's movement when everyone recognise them as separate entities. Just as the masses found btc in early dec, then found alts in mid-dec to early jan, sooner or later, alts with solid teams, real use cases and real participants in their ecosystem will gain their own places in mainstream folks' daily lives, and coin-specific shocks rather than systemic market shocks will take over in causing price fluctuations.
Topic: When will altcoins be independent of bitcoin's movement? - page 2. (Read 374 times)
I understand that since altcoins are paired with BTC for trading, the price is based off bitcoin's.
However, even if an altcoin is doing well, it can tank (in terms of sats) when bitcoin's price corrects.
Will we ever see a market that isn't so heavily dependent on bitcoin? Is this possible for the future?
However, even if an altcoin is doing well, it can tank (in terms of sats) when bitcoin's price corrects.
Will we ever see a market that isn't so heavily dependent on bitcoin? Is this possible for the future?
I don't think this will happen any time soon. Bitcoin is like gold for crypto world, because it is always use for comparison. As long as there is high demand for Bitcoin, Bitcoin will rule the market.
I think that in the near future this should happen because, frankly speaking, everyone is a little tired of dominating bitcoin in the market and all the altcoins today completely depend on the behavior of exactly bitcoin, I think that soon everything should happen
I understand that since altcoins are paired with BTC for trading, the price is based off bitcoin's.
However, even if an altcoin is doing well, it can tank (in terms of sats) when bitcoin's price corrects.
Will we ever see a market that isn't so heavily dependent on bitcoin? Is this possible for the future?
That wont be happening in the future,because bitcoin is dictating how these altcoins will do,market will be based to bitcoin's investors,if these investors pull out their money from bitcoin's the market will surely crash as what we are experiencing the marketcap falls all the altcoins will bleed,the only time these alts wil lbe independent when these investors wont put their money to bitcoin which is not possible. However, even if an altcoin is doing well, it can tank (in terms of sats) when bitcoin's price corrects.
Will we ever see a market that isn't so heavily dependent on bitcoin? Is this possible for the future?
I understand that since altcoins are paired with BTC for trading, the price is based off bitcoin's.
However, even if an altcoin is doing well, it can tank (in terms of sats) when bitcoin's price corrects.
Will we ever see a market that isn't so heavily dependent on bitcoin? Is this possible for the future?
However, even if an altcoin is doing well, it can tank (in terms of sats) when bitcoin's price corrects.
Will we ever see a market that isn't so heavily dependent on bitcoin? Is this possible for the future?
The growth of coins depends on the increased demand of users. If users begin to actively use altcoins instead of bitcoin, then we can see that they are not in dependent on bitcoin.
technically if an altcoin owns a proprietary blockchain it should not be constrained by bitcoin movements (technically.. in fact it's another question!)
As long as alt prices are pegged to bitcoin prices they can't be independent. It looks like most altcoins will never be independent at this rate.
I think coins will be independent of bitcoin only when they are directly traded to fiat.
If a coin may be bought without converting it to bitcoin, then it's rate may not depend on bitcoin 's price. It is simple:)
I watch the course of altcoins in the equivalent of bitcoin. Therefore, independence is not possible in my opinion. If even bitcoin as it separates, then another coin will appear, in relation to which the course of all other coins will be evaluated. There must always be some point in relation to which you can evaluate the value.
Bitcoin dominates the crypto currency market because it is the most voluminous coin of this market. This situation continues for a long time.
I understand that since altcoins are paired with BTC for trading, the price is based off bitcoin's.
However, even if an altcoin is doing well, it can tank (in terms of sats) when bitcoin's price corrects.
Will we ever see a market that isn't so heavily dependent on bitcoin? Is this possible for the future?
for now altcoin runs itself without relying on bitcoin I think it's hard. but in the future it may happen if too often depend on the bitcoin altcoin prices can not be stable. but I think it will need a process and time to come. However, even if an altcoin is doing well, it can tank (in terms of sats) when bitcoin's price corrects.
Will we ever see a market that isn't so heavily dependent on bitcoin? Is this possible for the future?
I understand that since altcoins are paired with BTC for trading, the price is based off bitcoin's.
However, even if an altcoin is doing well, it can tank (in terms of sats) when bitcoin's price corrects.
Will we ever see a market that isn't so heavily dependent on bitcoin? Is this possible for the future?
However, even if an altcoin is doing well, it can tank (in terms of sats) when bitcoin's price corrects.
Will we ever see a market that isn't so heavily dependent on bitcoin? Is this possible for the future?
We need to accept what value of altcoins now. We need still to wait and have some patient because when the value of bitcoin is going high and going stable again, we don't have any problem in altcoins because value of it is going high too. Patient is the key for successful life.
To the whales, altcoin is the way to get more bitcoin. so the alts price will never be independent of BTC movement.
It is very unlikely that. The market will always revolve around bitcoin, the attention of all traders will always be riveted to bitcoin.
Its possible to get market that not heavily dependent on bitcoin only in case if some new coin replace bitcoin 
For example Ethereum or Ada.
For example Ethereum or Ada.
it's bad thing , so any dump in bitcoin all market be red except some unknown altcoins , i think it's a related to Trading in BTC Pairs on exchanges and the trading volume of it.
To my mind, won't. A lot of us though in the beginning of January that altcoins could not only double but make your profits bigger 5 times and more. After BTC drop in the middle of January, almost all altcoins fell down. Now it is not easy for them to renew their previous high price so quickly
As it seems to me, the dependence of altcoins is related to their trading pair to bitcoin and I think that the independence of altcoins is real, we just need to use some other pair for bidding.
i think when exchanges list alternative pairs such as ETH and LTC for trading almost all altcoins then we will see some stability.
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