Why Alts Follows Bitcoin's Fall? - page 6.

crzy

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Quote from: Chipard on March 07, 2022, 12:57:23 AM

When bitcoin rises, the altcoins keep the price and if when the bitcoin falls the altcoins fall even more. Why do altcoins usually follow bitcoin?

Investors are selling their holdings and buying stable coins, so by this they can secure their profit and have more power to buy later on.
Altcoins follows Bitcoin because this has been the major pair, and we know the dominance of Bitcoin over this market.

This is not a new trend anymore, we've been through a lot of this before and guess what, nothing change even if there's a lot of good altcoins today, they still follow the trend of Bitcoin.

masterrex

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Quote from: Chipard on March 07, 2022, 12:57:23 AM

When bitcoin rises, the altcoins keep the price and if when the bitcoin falls the altcoins fall even more. Why do altcoins usually follow bitcoin?

I think it is because Bitcoin has a strong impact of influence in the crypto market, because of its marketcap dominance, just look at the total Market capitalization of Bitcoin its marketcap share a very big pie of the total marketcap so I think that was the main reason and second is the trading pair as we observe most altcoins has a trading pair with BTC so I think that was a strong compelling reason why altcoins also drag to the Bitcoin price.

gabbie2010

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Quote from: Chipard on March 07, 2022, 12:57:23 AM

When bitcoin rises, the altcoins keep the price and if when the bitcoin falls the altcoins fall even more. Why do altcoins usually follow bitcoin?

Bitcoin leads other Altcoins follows that is how the market sentiment is now, once upon a time when bitcoin rises other Altcoins falls vice versa however the present market sentiment will enable any crypto trader to analyze the price of any altcoin with subject to Price Action of bitcoin, whether bullish or bearish i.e shouldn't go contrary to or against the price direction of bitcoin.
As a trader I discovered that all the candlestick patterns of majory of Altcoins are very similar thus I choose one USDT among the numerous pairs and trade it while taking cognisance of price sentiment of bitcoin.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: Chipard on March 07, 2022, 12:57:23 AM

When bitcoin rises, the altcoins keep the price and if when the bitcoin falls the altcoins fall even more. Why do altcoins usually follow bitcoin?

There is no definite answer to this, but this can be due to a number of assumptions made correctly.

Bitcoin functions as an index of market psychology and users follow what movements it makes to determine future trends. So when bitcoin is dropping in price, the people who had bought with lack of understanding and faith in the altcoins will sell because they think this is the end of that altcoin.

Those who sell altcoins may not be that much capable to understand that if they hold they might actually get a price to break even and exit with profit, therefore a lack of patience.

Because this market is unregulated and panic spreads quickly, it is difficult to control a downtrend quickly. But the opposite also becomes true, when it goes up all coins start going up as well.

sunsilk

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Quote from: Chipard on March 07, 2022, 12:57:23 AM

When bitcoin rises, the altcoins keep the price and if when the bitcoin falls the altcoins fall even more. Why do altcoins usually follow bitcoin?

Because it is the market leader.

Whatever happens to the leader, every follower has nothing to do but to do the same as what the leader has done. As for many pairs on all exchanges excluding the decentralized exchanges.

They're all following the price of bitcoin and that's a normal thing in the market that you have to remember that if bitcoin goes up, the alts are next and vice versa.

Ten98

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Quote from: Chipard on March 07, 2022, 12:57:23 AM

When bitcoin rises, the altcoins keep the price and if when the bitcoin falls the altcoins fall even more. Why do altcoins usually follow bitcoin?

That's a natural thing to happen in the crypto mate space, because altcoins do often follow the flow of the Bitcoin market so that increases and decreases always occur simultaneously and the main thing that is often monitored by everyone is Bitcoin not altcoins because altcoins are still very often following Bitcoin in terms of that.

5W-KILO

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Moon.win

As a crypto investor your attention should be on BTC first, remember that BTC is even the main coin that opens door for altcoins season too, if BTC isn't pumping hard altcoins won't be doing so well, BTC is the first, it has the biggest volume and liquidity, talking about the most supporting crypto coin BTC is the king this is why it directs the market.

rjekerdomin

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Quote from: Chipard on March 07, 2022, 12:57:23 AM

When bitcoin rises, the altcoins keep the price and if when the bitcoin falls the altcoins fall even more. Why do altcoins usually follow bitcoin?

Bitcoin is the hallmark of cryptocurrency. Although there are many stablecoins, Bitcoin is still the leader. People pay attention to the price of Bitcoin, and when the price drops, someone chooses to sell the coin to stop loss. Some altcoins will die when the price falls, and some media write articles to influence everyone's judgment, thus selling the coins in their hands, causing the price to fall. When the price falls, it is still necessary to maintain a good attitude, do not panic when the price falls, it is better to keep holding.

Chipard

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When bitcoin rises, the altcoins keep the price and if when the bitcoin falls the altcoins fall even more. Why do altcoins usually follow bitcoin?

Topic: Why Alts Follows Bitcoin's Fall? - page 6. (Read 757 times)