Topic: Why Altcoin prices often follow Bitcoin price - page 12. (Read 2299 times)
alt coins are directly proportional to bitcoin price every altcoin react direct to bitcoin fluctuations as the bitcoin price increases altcoins price dump this is happening right from the beginning of cryptocurrency market invention
Do they really? I often encounter this statement. And i have no idea as to why. This past few days, bitcoin is on the rise and most certainly than not altcoin's price surely follows. I am not saying this is bad but altcoins have very little in common with bitcoin. And they are certainly not carbon copies of bitcoin either. Why the heck is their price so closely connected despite being so fundamentally different?
Maybe because at bitcoin 37% of dominance in the whole market is crypto-currency? On many stock exchanges, altcoyins are traded only with bitcoin. Pairs with the dollar are often not, hence the direct dependence
Because bitcoin is the leader of the entire cryptocurrency market.
The move from bitcoin shows confidence in the entire cryptocurrency market.
The move from bitcoin shows confidence in the entire cryptocurrency market.
May be it is because all alts are trading against bitcoin and orders are agaist bitcoin, so when bitcoin price to dollar changes, altcoin price to dollar also changes. But may be I wrong.
Do they really? I often encounter this statement. And i have no idea as to why. This past few days, bitcoin is on the rise and most certainly than not altcoin's price surely follows. I am not saying this is bad but altcoins have very little in common with bitcoin. And they are certainly not carbon copies of bitcoin either. Why the heck is their price so closely connected despite being so fundamentally different?
Because this whole thing is not stocks. When bitcoin have it own bull run more people tend to buy altcoins as they feel confidence in the market and because they are looking to get profit they are going into altcoins as with altcoins you can double your money faster than with bitcoin. When bitcoin is moving down there is less confidence in the market and everybody wants to preserve their value they have gained and thus they tend to switch to big cryptos such as Bitcoin, Ethereum or even fiat currencies or USDT - tether to try to save their value from going down.
So at the end as bitcoin is the biggest out there it provides the confidence in the market.
Why altcoin prices often follow bitcoin prices, I think bitcoin prices are very influential for altcoin because altcoin is made to mask weakness of bitcoin, besides altcoin and bitcoin are very related and need each other especially when supply and demand of international market has increased or decreased .. .
I think both are connected in a trade that creates a high demand. some users want to make a profit by selling alt and buy bitcoin, some other users sell bitcoin and buy alt. please correct me if my opinion is wrong.
Yes they do.
I've seen it happening myself some months ago, while watching in two different monitors the BTC/USD, ETH/USD and LTC/USD prices.
I was watching Kraken (for 3 days), running the charts plus 3 indicators, and all the charts (plus the indicators) looked the same.
The only explanation was, that the majority of the transactions was made by bots, running the same parameters.
If someone else has a better explanation, feel free to express it.
I've seen it happening myself some months ago, while watching in two different monitors the BTC/USD, ETH/USD and LTC/USD prices.
I was watching Kraken (for 3 days), running the charts plus 3 indicators, and all the charts (plus the indicators) looked the same.
The only explanation was, that the majority of the transactions was made by bots, running the same parameters.
If someone else has a better explanation, feel free to express it.
Do they really? I often encounter this statement. And i have no idea as to why. This past few days, bitcoin is on the rise and most certainly than not altcoin's price surely follows. I am not saying this is bad but altcoins have very little in common with bitcoin. And they are certainly not carbon copies of bitcoin either. Why the heck is their price so closely connected despite being so fundamentally different?
can seem like no matter what happens, the major altcoin prices follow Bitcoin's price, even when it is illogical. We ask, “why?!” UPDATE FEBRUARY 2018: The article below was written in October 2017 when Bitcoin was outpacing alts after a market-wide correction. It was then updated in December 2017 ...
Do they really? I often encounter this statement. And i have no idea as to why. This past few days, bitcoin is on the rise and most certainly than not altcoin's price surely follows. I am not saying this is bad but altcoins have very little in common with bitcoin. And they are certainly not carbon copies of bitcoin either. Why the heck is their price so closely connected despite being so fundamentally different?
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