Topic: why is BTC- OMG in red but ETH-OMG is in the green? (Read 340 times)
Yeah, just think of them as currency pairs, (which they are, in this case) and you can understand how it works. If the US dollar is falling, then you'll notice that X-USD pairs will be green, but X-GBP pairs might be red, like this week's case. Where the pound is strengthening and dollar is weakening. But in a case of Bitcoin, think of your alt in dollar value. If the dollar value hasn't gone up but Bitcoin's value has, then of course your alt is worth less Bitcoin and therefore, red.
This is because BTC is stronger than ETH.
The same reason that a coin can be green against USD but red against BTC, just substitute ETH for USD
Because ETH appreciates vs BTC. If OMG vs USD is stable, BTC VS USD depreciate, then BTC vs OMG depreciate ( in red); in same time if ETH appreciate vs USD , then ETH ce OMG appreciate, thus in green.
Anyone care to enlighten me? Was lookin around but couldnt find a reason why. Thanks!
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