Why ETC weakens against BTC when BTC weakens against USD?

olushakes

sr. member

Activity: 476

Merit: 254

Quote from: andrisz on June 15, 2017, 09:18:48 AM

Could someone please explain this? When watching chart of ETC/BTC I've noticed that recently Ether against Bitcoin follows quite well ups and downs of Bitcoin against USD.

I mean, I'd understood if it were the opposite - BTC weakens against USD and ETH doesn't, so it gets stronger against BTC.

There is no need for anyone to start cracking his brain in understanding the reason why its happening that way other than the fact that no matter how the coins are different as the developers might want us to believe, they are related and if there is a boom or doom, it affects everyone it now depends on specific individual strength that will reflect how bad or good current situation will hit and that is why the reaction is different for all of them.

ItchyIrish

member

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yep its crazy , its supposed to do the opposite , i'm trading ETC/BTC , and i use bitcoin chart as prediction tool , btc/usd is moving faster than ETC/BTC , so when bitcoin is skyrocketting = few minutes later ETC/BTC skyrocket too

pooya87

legendary

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Quote from: andrisz on June 16, 2017, 01:02:08 AM

Quote from: pooya87 on June 16, 2017, 12:33:32 AM

but also it is a common occurrence that when bitcoin price drops it takes everyone with it down. it happens every time!

However it the current market situation the opposite is also true, as BTC goes up against USD, ETH goes up against BTC. I.e. Ethereum seems to be behaving like leveraged Bitcoin.

it is also the size of the market and things that are going on.
bitcoin is much bigger and currently there is a lot of resistance because of all the negativity about it and all the panic sellers who are afraid which means price of it will go up slower.
meanwhile ethereum currently doesn't have that negativity and instead has a lot of advertising, specially using bitcoin's negativity which means it can go up much easier and less people are willing to sell it.

and also on top of it all, the rise of ETH with USD and BTC is because if you have looked at poloniex market when the drop was happening you could have seen manipulative buy walls be placed by the poloniex whales as big as 700BTC to prevent the crash or at least slow it down. and that kept the price versus BTC up.

andrisz

newbie

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Merit: 0

Quote from: pooya87 on June 16, 2017, 12:33:32 AM

but also it is a common occurrence that when bitcoin price drops it takes everyone with it down. it happens every time!

However it the current market situation the opposite is also true, as BTC goes up against USD, ETH goes up against BTC. I.e. Ethereum seems to be behaving like leveraged Bitcoin.

ASHLIUSZ

hero member

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This seems to be a common occurrence, where most of the digital currency has decreased in its value. We cannot say that the ETH weaken against bitcoin and bitcoin against USD. It's simple to mention that on the whole everything has been declining in value, USD too is not an exception.

pooya87

legendary

Activity: 3472

Merit: 10611

don't try so hard for finding reasons about why an altcoin was dropped. there usually are none. the same way they go up in a pump the same way they get dumped and come down easily.
but also it is a common occurrence that when bitcoin price drops it takes everyone with it down. it happens every time!

andrisz

newbie

Activity: 8

Merit: 0

Could someone please explain this? When watching chart of ETC/BTC I've noticed that recently Ether against Bitcoin follows quite well ups and downs of Bitcoin against USD.
http://imgur.com/a/1eOY2

I mean, I'd understood if it were the opposite - BTC weakens against USD and ETH doesn't, so it gets stronger against BTC.

Topic: Why ETC weakens against BTC when BTC weakens against USD? (Read 480 times)