Why BTC & ETH falling simultaneously? Are they not different blockchain? - page 2.

Barbarian

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Quote from: olumyd on February 05, 2018, 06:08:50 PM

It bothers me that BTC affects all market especially when it isn't tied to the same blockchain. So what's the point buying other altcoins if I just want to simply store as digital asset value class.

Does this means that the crypto market is directly proportional to BTC welfare?

Deal with it, bitcoin is the top cryptocurrency and in order to get most alts you either need bitcoin or ethereum so if bitcoin goes down significantly then you can expect the same to happen to the whole market this is why many people do no even bother to hold any other coin other than bitcoin.

Pursuer

legendary

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Where is my ring of blades...

Quote from: European Central Bank on February 05, 2018, 08:14:51 PM

Quote from: olumyd on February 05, 2018, 06:21:00 PM

How do you mean doing better in dollar terms, are you saying there are more losses in BTC than ETH? But they are still losing equivalent, comparatively huge value percentages.

yes. ethereum has lost less percentage in dollar terms than bitcoin. that's mainly because it has a lot of its own dollar markets these days. most alts are directly tied to bitcoin still.

a drop from $1430 down to $560 is a 61% drop.
considering ETH is heavily manipulated, has been advertised to death in the past week as a better investment than bitcoin (LOL), also has a smaller price I'd say it performed horribly in terms of fiat.

bitcoin has been under constant attack for the same period and it went from $19,600 down to $6000 which is a 68% drop! despite that 7% I still say ETH did horrible.

Torque

legendary

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Quote from: TERA2 on February 06, 2018, 09:17:30 AM

Therefore the price of alts is tethered to the price of bitcoin.

Which all the crypto kiddies and shitcoin traders fail to understand.

Because of this, there will never be a 'flippening'. Bitcoin is king.

TERA2

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Deb Rah Von Doom

Its the way exchanges have been set up since 2012. The majority of altcoins volume is done on ALT/BTC pairs and not ALT/USD pairs. Therefore the price of alts is tethered to the price of bitcoin. In addition, crypto coin is one asset class and all coins are affected by some of the same market forces, such as tether scam and whatever clusterfuck is going on in the stock market today.

Beerwizzard

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Altcoinsare losing in price because not every alt is traded to USD (and not on every exchange). So during the obvious bear market while people are trying to hide from the storm in fiat they are selling their alts to buy BTC and then selling it for USD. Pretty similar thing happens with tokens and ETH but Bitcoin is mostly a key indicator of the whole crypto market.

Quote from: European Central Bank on February 05, 2018, 08:14:51 PM

Quote from: olumyd on February 05, 2018, 06:21:00 PM

How do you mean doing better in dollar terms, are you saying there are more losses in BTC than ETH? But they are still losing equivalent, comparatively huge value percentages.

yes. ethereum has lost less percentage in dollar terms than bitcoin. that's mainly because it has a lot of its own dollar markets these days. most alts are directly tied to bitcoin still.

Right now ETH lost about 7,55% vs bitcoin's 8,25%. I haven't cmplared them on monthly / weekly periods but tbh everything looked pretty mych the same. ETH felt much better only during the fall from 20 to 15k

olumyd

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Quote from: Nosk on February 05, 2018, 08:22:02 PM

Here I sit, watching bitcoin fall and all the other shitcoin I own just falling more.
Downtrend concerns bitcoin bitcoin but also every other alts, look at that : https://coin360.io/

Even stock markets are going down.

Someone has got to throw the bear back into its cage. This show definitely has to end. The comedy has certainly lost its satire; from $20k to $6k in less than 2 months... we've got to get some helium to pump.

Nosk

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Here I sit, watching bitcoin fall and all the other shitcoin I own just falling more.
Downtrend concerns bitcoin bitcoin but also every other alts, look at that : https://coin360.io/

Even stock markets are going down.

European Central Bank

legendary

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Quote from: olumyd on February 05, 2018, 06:21:00 PM

How do you mean doing better in dollar terms, are you saying there are more losses in BTC than ETH? But they are still losing equivalent, comparatively huge value percentages.

yes. ethereum has lost less percentage in dollar terms than bitcoin. that's mainly because it has a lot of its own dollar markets these days. most alts are directly tied to bitcoin still.

nokati

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Thats the funny thing about it..... al the altcoin "O I want to get rich" people always wanted to see bitcoin falling but they dont understand that if bitcoin fall, al coins will go under too.
I love eth, monero, siacoin as they have a reall use case and I wish them al the best, but imagine btc go to zero for some reason.... Do you really think that even eth or monero will still stay? let alone al other shittycoins Undecided

Cryptocurrency community need get there act together first and use it for what it was created for......

olumyd

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Quote from: European Central Bank on February 05, 2018, 06:16:18 PM

It's the same buyers. All people want is something to sell for more than they paid for it. It don't matter what the details are.

And ethereum's doing much better than bitcoin in dollar terms right now which ain't saying too much.

How do you mean doing better in dollar terms, are you saying there are more losses in BTC than ETH? But they are still losing equivalent, comparatively huge value percentages.

European Central Bank

legendary

Activity: 1288

Merit: 1087

It's the same buyers. All people want is something to sell for more than they paid for it. It don't matter what the details are.

And ethereum's doing much better than bitcoin in dollar terms right now which ain't saying too much.

olumyd

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It bothers me that BTC affects all market especially when it isn't tied to the same blockchain. So what's the point buying other altcoins if I just want to simply store as digital asset value class.

Does this means that the crypto market is directly proportional to BTC welfare?

Topic: Why BTC & ETH falling simultaneously? Are they not different blockchain? - page 2. (Read 341 times)