Topic: Why Altcoin prices often follow Bitcoin price - page 7. (Read 2281 times)
Actually, no distinction. Furthermore, that and that - криптовалюты. In the event that we discuss a particular cryptographic money, at that point the distinction, obviously, will be. Above all else, this is the calculation on which the cryptographic money lockdown and the sort of encryption utilized as a part of the blockroom work. Yet, in particular, what intrigues clients is the cost of a particular digital money and the likelihood of mining.
I think both are related in a trade that makes an interest. a couple of customers need to make an advantage by offering alt and buy bitcoin, some unique customers offer bitcoin and buy alt. you should change me if my inclination isn't right.
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?
Everything is connected in this crypto world. Bitcoin is the mother of all currencies (I mean sure, digital money). That is why when BTC is up, alts are rising, when Bitcoin is down, the coins are falling.
In fact, altcoins are tied to the price of bitcoin, as on all exchanges are sold in a currency pair with It. So so. They say that in the autumn waiting for the jump of Bitcoin, respectively, on the altcoins will be very tasty prices)
In addition, or instead of what was said above:
new people who come to the cryptocurrency, first of all they hear "bitcoin";
this forum is one of the largest in the world, begins with "bitcoin";
a lot of videos on YouTube with the word in the title "bitcoin" ...
Of course, first of all they buy BTC. Altcoins learn later. Thus, the alts are follow for.
Someday the situation will change.
new people who come to the cryptocurrency, first of all they hear "bitcoin";
this forum is one of the largest in the world, begins with "bitcoin";
a lot of videos on YouTube with the word in the title "bitcoin" ...
Of course, first of all they buy BTC. Altcoins learn later. Thus, the alts are follow for.
Someday the situation will change.
This is all tied up by one simple reason, the bitcoin is the currency in the entire cryptocurrency market, Altcoin is all paired with bitcoin in their trade pairs which is the reason why bitcoin prices affect the price of altcoin so much, When the transaction volume for bitcoin decreases then it also means that the amount of bitcoin used for trading has decreased and the price of altcoin down.
there are a couple things to consider:
- When you look at coinmarketcap, the prices you see are actually what the price of the coin is in btc, then that btc value is converted to usd based on the going rate of btc.
So, if Altcoin #1 costs. .001 btc, and then price of btc is $100, then Altcoin #1 will display as $1. Is the price of btc goes up to $1000, and Altcoin #1 still costs .001 btc, then naturally it will increase to $100. So, most coins go up just based off of the value of btc going up.
- Sometimes an altcoin loses value even when btc goes up because it's price per btc has gone down. For example, Altcoin #1 cost .001 btc. But the price dropped to .0001 the next week. Even if the value of btc goes up, on coinmarketcap, it will display as Altocin #1 going down in value.
- Coinmarketcap is an average of the going rate for each coin/token. It gathers data from exchanges and averages it out. So prices are not entirely accurate.
- The reason why btc is used to calculate value is because it is the only coin that can be widely traded for fiat (buy and sell it using real money). So it has the most reliable indicator of $usd price because the data is wide and varied. however, it is still somewhat innacurate because it does not include direct p2p trades from places like localbitcoins.com
- When you look at coinmarketcap, the prices you see are actually what the price of the coin is in btc, then that btc value is converted to usd based on the going rate of btc.
So, if Altcoin #1 costs. .001 btc, and then price of btc is $100, then Altcoin #1 will display as $1. Is the price of btc goes up to $1000, and Altcoin #1 still costs .001 btc, then naturally it will increase to $100. So, most coins go up just based off of the value of btc going up.
- Sometimes an altcoin loses value even when btc goes up because it's price per btc has gone down. For example, Altcoin #1 cost .001 btc. But the price dropped to .0001 the next week. Even if the value of btc goes up, on coinmarketcap, it will display as Altocin #1 going down in value.
- Coinmarketcap is an average of the going rate for each coin/token. It gathers data from exchanges and averages it out. So prices are not entirely accurate.
- The reason why btc is used to calculate value is because it is the only coin that can be widely traded for fiat (buy and sell it using real money). So it has the most reliable indicator of $usd price because the data is wide and varied. however, it is still somewhat innacurate because it does not include direct p2p trades from places like localbitcoins.com
Bitcoin is the primary intermediary for exchange purchases. The liquidity of bitcoin is quite high. So, the market went down, people selling altcoins out bitcoin and out dollars, causing altcoins prices to fall under Bitcoin. As bitcoins increase, people are also selling altcoins to bitcoins that also lower the price of altcoins. So, just when Bitcoin sideway, altcoin grows back.
Because bitcoin is the leader of the entire cryptocurrency market.
The move from bitcoin shows confidence in the entire cryptocurrency market.
Bitcoin is different from the conventional currency seen from its volatility. If the conventional currency is backed up by the state, then Bitcoin is not backed up by anyone. Bitcoin is backed up by itself, just as gold is not determined by anyone.The move from bitcoin shows confidence in the entire cryptocurrency market.
Pure Bitcoin value is influenced by demand and supply.
Many factors affecting demand and supply include: the policy of a country to bitcoin, the ups and downs of the investment climate, the psychological condition of bitcoin business people, news and so on.
While the questions agan why-why, more to the psychology of the culprit.
That's my boss
not all altcoin prices follow bitcoin prices, for example there are some coins that are opposed to bitcoin prices, such as MTC coins. but most indeed altcoin prices follow bitcoin prices
Because this market is the game of bitcoin. The market capital in Bitcoin is the biggest capital and it is like the Index of stock market. Its also because of market psychology. When bitcoin downs, people dont believe in crypto anymore, they thought bitcoin is the best but still can not servive so how can all the altcoin up. That why they sell the altcoin too, if the bitcoin price is decreasing.
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?
In my own opinion bitcoin as king of altcoins are not possible follow the price of altcoins into bitcoin price value if the bitcoin price goes dump of course altcoin price goes lower value but if the bitcoin go uprise the altcoins price will follow to increase in their king.
of course, we all know that bitcoin is the first cryptocurrency. it can be said that bitcoin is the parent of other coins. certainly, bitcoin prices will be a reference for other coins as well. so it's not wrong if bitcoin prices will affect altcoin prices.
This is what I also observe, when bitcoin price increase most of the alts also increase and when it decreases most alts also decreases. I guess the mother of cryptocurrency is still in control of the crypto economy. 
Bitcoin is like a people confidence in the crypto market index. When it grows more people believe the other alts will grow and tend to buy them, so the demand and prices grow and the positive trend starts.
Some alternate coins follow Bitcoin because it has become a basis of prices for almost every other alternate coins and Bitcoin is one of the fastest way to convert it into real money and because of this reason, it follows the price of Bitcoin to set their own standards.
Bitcoin has its account over over the other coins. multiple people and multiple country received BTC, do that you want to change the cash must be changed through BTC or ETH, such as the token to be different dependencies on the BTC. I think probably in the following year to BTC will be no be the king on the field, ETH will replace BTC. 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.
I had been observing this for quite sometime and my opinion to this is when bitcoin will rise, altcoins will follow probably many people will be buying again more alts. This creates a high demand on the altcoins that in effect the price will also follow to increase. Bitcoin and altcoi s are mainly correlated with each other.
I think it's because Bitcoin is the mother of all coins and therefore Bitcoin is the benchmark for all coin beneath which Bitcoin is.
it is normal that all coins generally under the name of altcoins must follow the price of bitcoin as they all have their price referencing through the bitcoin price whether directly or indirectly, it actually all works has a value in the satoshi of the bitcoin units. thanks
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