Topic: When will altcoins be independent of bitcoin's movement? - page 3. (Read 374 times)
As long as bitcoin is the most popular cryptocurrency and most of the trades are done with BTC, it is impossible. I don't think it will happen in near 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?
It is difficult to remove the basis from the entire block system. This is one big thing that is inseparable actually. And even if bitcoin completely drops out of the trade, even then the altcoins will also suffer very much. 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 have studied a lot on this subject of coins to be independent of Bitcoin, and I practically do not find a coin that does not change after Bitcoin's correction, some because they are more solid than the others resist for a while but then adjust to Bitcoin's current, an example of this may be Ethereum, delayed but was corrected after the correction. I would like to see a future with indenpendent currencies, but currently I do not believe in possibility.
I think it's very difficult right now, because governments just recognize bitcoin, they're not optimistic about altcoin, and they're even going to have further regulation of the ICO market and the altcoin market.
altikon never will be, regardless of bitcoin is as a global position of the dollar against other world currencies
There is no way altcoins will be totally independent of Bitcoin because Bitcoin is regarded as the base currency in the the Blockchain world. Any time there is movement in the price of Bitcoin it will automatically affect other cryptocurrencies. That's the reality of Bitcoin impact the crypto space. Thanks
For this to happen, bitcoin will have to lose it's market capitalization completely and possibly become a worthless currency only then can the altcoins become independent. But then again the altcoins will have to be traded against the new coin that dominates the market.
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 think that is what not allowed for the crypto currencies because they are literally decentralised and very manipulative. If we do not make any trades in the bitcoin but makes loads of transactions in the altcoins then they can get affected in sever ways and thus can get pumped or dumped depending upon the situation. So its like altcoins are neither too dependent on the bitcoin and sometime they are so much dependent that their graph moves in similar manner as with the bitcoin. This is what happened in todays trades also, when bitcoin started jumping upwards it actually drove the market of altcoins upwards too.
It would be very hard for alt-coins to be separated from bitcoin...Once they have bigger trading pair than btc then this might be slightly independent.
ever since trading begun way back on the history of barter when the currency was created, all people in the market need something standard or common practice to compare all the value of their currency, they have many kinds of coins before like copper, bronze, silver but the most valuable is the gold but the value of ll coins was based on the value of gold, like ten copper is equivalent to 1 piece gold coin , etc, same with the digital coin, they need a standard and basis to give their coin a price.
Once youxcan buy an altcoin without buying btc to buy it, it becomes free from one side of the connection. However a lot of people like to keep their assets in crypto, so they will trade out of alts into btc and/or eth, so until btc lises its spot as the top dog, it will always have some correlation to the market as a whol ie alts
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?
This will come with time as the public are more aware of other cryptocurrencies and their benefits, right now for many bitcoin and cryptocurrency are the same thing when in fact bitcoin is just the tip of the iceberg.
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?
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