Why does ETH go down each time BTC goes down?

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legendary

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Quote from: memberpass on December 09, 2018, 02:38:29 AM

Right now it seems that all alt coins' performance is tied to Bitcoin performance.

this has already been explained many times, but I'll add just the following, the altcoins need to evolve a lot so that they are independent of bitcoin. Altcoins must partner with many real-life companies, altcoins need to be useful in real life only so they will be independent of bitcoin. In the specific case of ETH my advice is the same.

Quote from: memberpass on December 09, 2018, 02:38:29 AM

Do you think that someday ETH price movement can be separate from Bitcoin's?

Of course one day the altcoins will be independent of bitcoin, but this will happen only if the altcoins are to have much use in the real world.

proTECH77

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The going down of Altcoins whenever bitcoin goes down is not new but re-occurrence decimal in the wold of cryptocurrency. Bitcoin is the mainstream of the blockchain has always be the king in this industry, so, whenever the king goes down the whole empire does too not only ETH but all altcoins.

rodalutor

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Quote from: Biscutard on December 09, 2018, 03:17:31 PM

Quote from: memberpass on December 09, 2018, 02:38:29 AM

Right now it seems that all alt coins' performance is tied to Bitcoin performance.

Do you think that someday ETH price movement can be separate from Bitcoin's?

Or flippening will happen?

Ethereum price is always separated from bitcoin, though ETH is still being used in a bunch of ICOs everywhere. That it kind of making a negative effect on the market but still ranked as the second most successful coins in the CMC. But if we are going to experience the bull run again, everything will going to change.

ETH is no longer no 2 coin, it was surpassed by XRP some time ago, maybe soon it won't even be no 3. A lot of ICOs now are moving away from ETH and those that are still using ETH are not having the same success as before.

Biscutard

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Quote from: memberpass on December 09, 2018, 02:38:29 AM

Right now it seems that all alt coins' performance is tied to Bitcoin performance.

Do you think that someday ETH price movement can be separate from Bitcoin's?

Or flippening will happen?

Ethereum price is always separated from bitcoin, though ETH is still being used in a bunch of ICOs everywhere. That it kind of making a negative effect on the market but still ranked as the second most successful coins in the CMC. But if we are going to experience the bull run again, everything will going to change.

Cryptomilz

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All altcoins are directly connected to Bitcoin and it's price movements determines how they move. During the bull run of 2017, most altcoins attained their ATH because BTC was doing very well in the marketplace until the it started correcting and down to the present levels it is at the moment.

sheenshane

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Quote from: clickerz on December 09, 2018, 12:03:36 PM

Quote from: Tytanowy Janusz on December 09, 2018, 02:42:23 AM

All altcoins fallow bitcoin price because they are economically connected.

https://bitcointalksearch.org/topic/m.39704417

Here i wrote a topic that deeply describes this.

Not only Eth, since most of coins and tokens are peg at bitcoin. Bitcoin being the pioneer cryptocurrency, almost all cryptos in any exchanges is always pair with bitcoin. When bitcoin moves up or down, altcoins value follows.

Maybe if there is bull run happen Eth will separately move not to swing when Bitcoin price down. Yeah, remember last year if I'm not mistaken Eth was almost surpassed Bitcoin price it was so close to the price of bitcoin. Since Bitcoin is the main currency in crypto when it comes trading I think that's the reason why other altcoins are swinging down when the price Bitcoin was down. That's why also ERC20 base token was down if Eth was down.

clickerz

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Quote from: Tytanowy Janusz on December 09, 2018, 02:42:23 AM

All altcoins fallow bitcoin price because they are economically connected.

https://bitcointalksearch.org/topic/m.39704417

Here i wrote a topic that deeply describes this.

Not only Eth, since most of coins and tokens are peg at bitcoin. Bitcoin being the pioneer cryptocurrency, almost all cryptos in any exchanges is always pair with bitcoin. When bitcoin moves up or down, altcoins value follows.

Kocret02

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btc and ethereum are interconnected. many altcoins are mostly in a bitcoin-dependent position, so I think right now it's not just the price of ethereum but a lot of altcoins have decreased dramatically when btc dropped

el kaka22

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Quote from: memberpass on December 09, 2018, 02:38:29 AM

Right now it seems that all alt coins' performance is tied to Bitcoin performance.

Do you think that someday ETH price movement can be separate from Bitcoin's?

Or flippening will happen?

I know there are a lot of places that you can buy ethereum directly with cash however the main way of acquiring ethereum is still about the same for people, you buy bitcoin with your fiat and than buy the ethereum for bitcoin. Which means bitcoin and ethereum is still intertwined no matter how much they try to alienate from each other.

Plus, when the market is falling all coins are listed with two prices, how much a coin worth in dollars and how much it worth in bitcoin, ethereum is still showed in bitcoin prices as well and when bitcoin drops the dollar value of ethereum drops as well.

There is no coin in the world that can't be affected by this and the only reason bitcoin is not falling as fast as others is that when people leave altcoins they just sell their coins to bitcoin and leave, however when bitcoin is dropping other coins "buy" bitcoin in order to sell it and that creates a cushion for it. Hence ethereum can never be separated from bitcoin, neither any other coin.

memberpass

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Great replies so far.

So it seems that for now if Bitcoin isn't doing well then there will not be spill over from BTC to ETH like during late 2017.

On the other hand, ETH can be used for payment and store of value someday too. So there is a possibility it will take over Bitcoin's role?

Coin-1

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Quote from: memberpass on December 09, 2018, 02:38:29 AM

Do you think that someday ETH price movement can be separate from Bitcoin's?

Almost every altcoin is traded to Bitcoin. Crypto exchanges always create pairs ETH to BTC. Usually traders create the bid or ask orders estimated in BTC coins and such a way they define the balance of demand and supply valued in Bitcoin. That's why the general direction of the global crypto currency market often correlates with the direction of the BTC price movement. Of course, this is a rough estimate.

Sometimes the ETH price is separated from the BTC price. For example, Bitcoin has significantly grown compared to all altcoins this September because large investors were expecting Bitcoin ETF approval by the US SEC.

jrrsparkles

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Quote from: memberpass on December 09, 2018, 02:38:29 AM

Right now it seems that all alt coins' performance is tied to Bitcoin performance.

Do you think that someday ETH price movement can be separate from Bitcoin's?

Or flippening will happen?

Just because people uses bitcoin as their main form of investment that is the reason why dominance of bitcoin is over 50%,many people's intention is to make profits from altcoins and invest on bitcoin to have more profits.Only when people uses the cryptos as payment not as an investment then the price of each become independent until that all the crypto currencies will be inter connceted to BTC.

Lazada

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Quote from: memberpass on December 09, 2018, 02:38:29 AM

Right now it seems that all alt coins' performance is tied to Bitcoin performance.

Do you think that someday ETH price movement can be separate from Bitcoin's?

Or flippening will happen?

Bitcoin is still an important benchmark for the development of crypto in the world today. When the price of Bitcoin changes, all aspects related to crypto will definitely change. Bitcoin has a tremendous impact, for me Etherum does have great strength, but the important and vital figure of Bitcoin cannot be eliminated. For me this will last very long and we will still make Bitcoin a benchmark !!

Cliarbikr

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Perhaps in the future this will be possible, but now all altcoins always adjust their price after Bitcoin. It always happens. On January 16, ETH will have an update, let's see how it will affect its price.

bene_gesserit

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Quote from: memberpass on December 09, 2018, 02:38:29 AM

Right now it seems that all alt coins' performance is tied to Bitcoin performance.

Do you think that someday ETH price movement can be separate from Bitcoin's?

Or flippening will happen?

This is why:

https://enroyd.com/ETH_Correlations/

rodalutor

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Quote from: memberpass on December 09, 2018, 02:38:29 AM

Right now it seems that all alt coins' performance is tied to Bitcoin performance.

Do you think that someday ETH price movement can be separate from Bitcoin's?

Or flippening will happen?

I no longer believe ETH can surpass or separate from BTC. ETH seems to be mostly standing still when its competition are making giant strides forward. I think in 5 years time BTC will 100% still be the no 1 coin but I think ETH might no longer be in the top 5 or 10 at that point.

adaseb

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There was a time before Segwit when the "flippening" almost happened which is where ETH came very close to the #1 market cap spot. Many were betting that it would surpass BTC due to scaling issues and it came "VERY" close but since then the dominance came down alot.

Right now most of the cryptos are closely correlated to BTC. So if BTC falls a little, the alts can fall exponetially. I guess in a bull market it might be different.

butka

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Quote from: memberpass on December 09, 2018, 02:38:29 AM

Right now it seems that all alt coins' performance is tied to Bitcoin performance.

It is called correlation. They will likely be correlated for a long period of time.

Quote from: memberpass on December 09, 2018, 02:38:29 AM

Do you think that someday ETH price movement can be separate from Bitcoin's?

I don't think it will ever be separated, or if that happen, it won't happen soon.

People should stop looking for this to happen. I think the alts have other more pressing problems, for example, how to survive this bear market.

Tytanowy Janusz

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All altcoins fallow bitcoin price because they are economically connected.

https://bitcointalksearch.org/topic/m.39704417

Here i wrote a topic that deeply describes this.

memberpass

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Right now it seems that all alt coins' performance is tied to Bitcoin performance.

Do you think that someday ETH price movement can be separate from Bitcoin's?

Or flippening will happen?

Topic: Why does ETH go down each time BTC goes down? (Read 258 times)