Why are charts running parallel? | Bitcointalksearch.org

ubercool

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Quote from: neuralstar on May 28, 2017, 11:57:00 PM

its because that cryptocurrency is like its own industry. The success of one coin improves the chance of success of another coin which is why the prices tend to run parallel to each other.

If that is the case then it will not be parallel in all of the top crypto's. But it is not like that, if you see it closely then you will get to know that someone or some company is putting all of their money into the top crypto currencies.

neuralstar

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its because that cryptocurrency is like its own industry. The success of one coin improves the chance of success of another coin which is why the prices tend to run parallel to each other.

Iranus

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It's because of the following:

-Older buyers are mostly determined to hodl at this point
-Newer buyers are given the myth of "diversifying" a cryptocurrency portfolio by the mainstream press.

The whole way that we've started phrasing this has changed because of those newbies. It's changed from "Bitcoin bubble" to "crypto bubble", or "blockchain bubble". All of these newbies are weak hands that end up buying all at the same time for the myth of crypto diversification, and selling all at the same time out of panic.

rockerashxxiv

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Quote from: darkangel11 on May 26, 2017, 04:10:41 PM

I think one of the reasons is the ability to quickly exchange one crypto to another on exchanges. For example it takes only a second to convert BTC to LTC, so people are trading multiple cryptos at the same time. This is one of the reasons why when there's a big pump of BTC other altcoins start moving too.
Another is that cryptocurrencies follow the king. When BTC goes up crypto awareness rises and fresh money start pouring into the markets.

Also, the charts not always mimic one another. When Segwit got activated on LTC it multiplied in value ($4-$16 in 1 month).

If u know of bitcoin trading u will know about this crypto conversion its basically for profit that people do just like bitcoin trading Grin

layoutph

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Yes charts of major altcoins are running parallel to bitcoin because the profit made to bitcoin surge is pass through to the major altcoins when investors buy them. And profit generated from Major altcoins is pass to 2nd level good altcoins: STRAT, XEM, SC, STR, etc..

digaran

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Yup definitely I can now see what you mean dude, those invisible charts are indeed in parallel, perhaps I can enlighten you up a nudge.
#1 has an investment in Bitcoin.
#1 also has an investment in LTC.
#1 has also an investment in ETH
Basically #1 has investments in every single cryptocurrencies/tokens.
When #1 pumps meaning investing more on Bitcoin then he is doing the same with all crypto, when #1 panics and starts selling or just dumps after accumulation period, everything which #1 was involved with will see the impacts.
Moreover there are more than 1#s which talking about them will just make things more complicated.
Many times many alts stay behind and wont be able to adjust accordingly to BTC's fluctuations which ends up in newbies whom are the majority of community with great losses.

If you ever monitor their charts you'd see doge coin is one of the alts which always reacts to Bitcoin price accordingly unless traders like me see an open window and exit by dumping which only reflects on price for a short period of time.

All I was going to say is that the same people are behind every coins out there.

Labumi

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It's something your friend or an advantage for those who have litecoin and the ethereum, bitcoin. I am sure that the ethereum and litecoin, experiencing a high chart because it was the influence of the bitcoin. Now that you are trying to view own chart bitcoin, where until now its graph is always high. And for that, if you are someone who wants to get a lot of advantages. Then buy one of three of these digital currency, because in the next session will surely increase or very high graphics

cpfreeplz

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I bet it's because newbies to the crypto world don't understand that eth is just a centralized shitcoin. Saying it's decentralized doesn't make it decentralized.

Litecoins, we'll that's just based on speculation and people thinking that it'll somehow be worth something more at some point. It's always going to be silver to bitcoin, but people think segwit will somehow change that. Erm litecoin never had enough transactions to need segwit so who cares? My Honda civic is now bulletproof. No one ever shot at me before and I live in a gated community with 0 crime but hey, now I'm safe. Shocked

MingLee

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Quote from: Ethan_Locke on May 26, 2017, 03:52:00 PM

I have noticed that Bitcoin, Ethereum and Litecoin charts are running parallel to one another, is anyone able to provide some analysis on this subject for me? Huh

They were doing this basically the entire time that we had gains in the altcoin markets over the past two weeks or so, I don't know why there would be any major changes to the trends now. When one thing goes down, everything else follows suit and it honestly would make sense for something like that o happen.
I don't know exactly why we see trends like this happen, but it does happen and it doesn't surprise me in the slightest.

Minecache

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Quote from: Ethan_Locke on May 26, 2017, 03:52:00 PM

I have noticed that Bitcoin, Ethereum and Litecoin charts are running parallel to one another, is anyone able to provide some analysis on this subject for me? Huh

It basically means a flood of money literally pouring into these cryptos. If it was old money you would see fluctuations as money was moved between cryptos.

Yakamoto

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Quote from: Ethan_Locke on May 26, 2017, 03:52:00 PM

I have noticed that Bitcoin, Ethereum and Litecoin charts are running parallel to one another, is anyone able to provide some analysis on this subject for me? Huh

That's typical from what I've seen, now that the golden boy of cryptos is having a hard time everyone is trying to sell their alts to get their money back into Bitcoin, either to buy or turn it into fiat quickly and wait out the storm. It happens on some bull runs, it happens on some bear runs. There is never really a good reason beyond the market behaving the way it wants to.

Kind of puts the "x alt is independent/is better than/stronger than Bitcoin" comments to waste.

darkangel11

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I think one of the reasons is the ability to quickly exchange one crypto to another on exchanges. For example it takes only a second to convert BTC to LTC, so people are trading multiple cryptos at the same time. This is one of the reasons why when there's a big pump of BTC other altcoins start moving too.
Another is that cryptocurrencies follow the king. When BTC goes up crypto awareness rises and fresh money start pouring into the markets.

Also, the charts not always mimic one another. When Segwit got activated on LTC it multiplied in value ($4-$16 in 1 month).

Ethan_Locke

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I have noticed that Bitcoin, Ethereum and Litecoin charts are running parallel to one another, is anyone able to provide some analysis on this subject for me? Huh

Topic: Why are charts running parallel? (Read 683 times)