Will Bitcoin continue to have the same effect on alts? - page 5.

Gyfts

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Quote from: ajochems on April 15, 2022, 05:54:49 PM

Quote from: Gyfts on April 15, 2022, 05:05:39 PM

The cryptocurrency market moves as a monolithic, and the crypto market moves in correlation with all the other markets. Bitcoin isn't intertwined with alts which would not allow for individual variance, but if Bitcoin tanks (or rises) so do the other major crypto's with reasonably high market caps. You can look at the stock market for evidence of this, there's the winners and losers, but the seismic changes generally occurs with events that transcend different markets - ie the war in Ukraine, you collectively saw a dip in all major markets and nearly all crypto currencies took a momentary dip in synchronization.

The impacts about the altcoin on the bitcoin was the old phenomenon.When their is pump in the bitcoin,say was impacts in the price of most of altcoin.Their is secret in this line .Whenever the price increase,the holding people of bitcoin will cash out.Then buy most of the trusted altcoin.So the demand of that coins will be increased.Finally the altcoin price also increase in value.

You're referring to pump and dumps? I don't know if I'd consider momentary crypto pumping schemes to be inclusive of the monolithic market. Maybe they are, I haven't been bothered to compare the price charts. Larger world events have an effect on all markets, including the crypto market. Bitcoin is inclusive in that crypto market, and as a result Bitcoin moving in price, most altcoins follow. I don't see any reason why this pattern would be disruptive considering this applies to literally every market there is.

qwertyup23

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Quote from: Iadegbola34 on April 10, 2022, 07:33:23 AM

What do y'all think? Will BTC price movement continue to have the same effect on alts price in like 10 years? 20 years maybe? Let's hear some expert opinions.

Generally, the price of altcoins sometimes depend on the price of BTC. Since most of these altcoins derive their existence from BTC as the latter is considered the first cryptocurrency, it follows that whenever its price drops, then the prices of altcoins drop.

Though this may be the case, there are certain cases where the price of some altcoins are generally unaffected while the price of BTC significantly changed. I remember that XRP and ETH's price continued to rise while the price of BTC dropped during the last quarter of 2019.

24Kt

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Quote from: Hamphser on April 15, 2022, 04:30:36 PM

Quote from: virasog on April 14, 2022, 06:11:01 PM

Quote from: Iadegbola34 on April 10, 2022, 07:33:23 AM

What do y'all think? Will BTC price movement continue to have the same effect on alts price in like 10 years? 20 years maybe? Let's hear some expert opinions.

To answer this, you need to compare the total market cap of bitcoin and the total market cap of the altcoins. As long as bitcoin alone has a more significant market cap as compared to all the altcoins, the bitcoin movement will affect the altcoin prices.

Speaking of dominance? No, you cant precisely tell that it would really be a solid indication because funds could be pull off into the market without tending to switch to altcoins which basically means that it could really

still able to stand off whenever Bitcoin is on a decreasing state or plummeting but cant really deny that Bitcoin is the main trend setter and this one really creates that kind of action
where it is really that understandable and basing off with real experience and engagement then we most likely say that it would really be on that way.

Bitcoin may not influence all alts but mostly its trend is followed by top alts. Definitely, those pump and dump coins, meme tokens or substandard projects won't follow bitcoin's market performance. But as we have seen up until now, most top alts such as ETH, LTC, XRP, SOL are following bitcoin's market behavior. Though we can't always rely on bitcoin because sometimes if there is new development with the project, they tend to have their own movement.

ajochems

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The impacts about the altcoin on the bitcoin was the old phenomenon.When their is pump in the bitcoin,say was impacts in the price of most of altcoin.Their is secret in this line .Whenever the price increase,the holding people of bitcoin will cash out.Then buy most of the trusted altcoin.So the demand of that coins will be increased.Finally the altcoin price also increase in value.

Gyfts

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The cryptocurrency market moves as a monolithic, and the crypto market moves in correlation with all the other markets. Bitcoin isn't intertwined with alts which would not allow for individual variance, but if Bitcoin tanks (or rises) so do the other major crypto's with reasonably high market caps. You can look at the stock market for evidence of this, there's the winners and losers, but the seismic changes generally occurs with events that transcend different markets - ie the war in Ukraine, you collectively saw a dip in all major markets and nearly all crypto currencies took a momentary dip in synchronization.

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Quote from: virasog on April 14, 2022, 06:11:01 PM

Quote from: Iadegbola34 on April 10, 2022, 07:33:23 AM

What do y'all think? Will BTC price movement continue to have the same effect on alts price in like 10 years? 20 years maybe? Let's hear some expert opinions.

To answer this, you need to compare the total market cap of bitcoin and the total market cap of the altcoins. As long as bitcoin alone has a more significant market cap as compared to all the altcoins, the bitcoin movement will affect the altcoin prices.

Speaking of dominance? No, you cant precisely tell that it would really be a solid indication because funds could be pull off into the market without tending to switch to altcoins which basically means that it could really

still able to stand off whenever Bitcoin is on a decreasing state or plummeting but cant really deny that Bitcoin is the main trend setter and this one really creates that kind of action
where it is really that understandable and basing off with real experience and engagement then we most likely say that it would really be on that way.

justdimin

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Quote from: TheUltraElite on April 15, 2022, 02:30:25 AM

Altcoins have existed since bitcoin came in, they have been a collective against a one man army of bitcoin. The reason why altcoins rose to a significant portion of the market share is a difference in public opinion and use cases. This is the example of democracy in the crypto sector, everyone is free to choose what they use.

Since majority of altcoins are bought and sold with bitcoin, it tends to influence the price. Trading them against fiat is still not that convenient, although attempts have been made to incorporate the same into merchants. So in my opinion, unless a new coin becomes something even more useful than what bitcoin has been, it will continue to have an effect on altcoin prices.

I remember the early days when I joined crypto and there was just bitcoin and something called "namecoin" if I am not wrong, there were few others too but they were nothing, the only one that mattered was namecoin, then ltc became a big thing, then eth did, and xrp did alright all throughout those periods as well. It is just a weird thing that people think altcoins are a new thing.

Sure, bitcoin had like 70%+ dominance at one point so if you think that you are going to get that again, you are not, even 50% is a hard thing nowadays, but at the very least we know that bitcoin is still the biggest and will stay like that for sure, while altcoins will just keep on changing places.

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Quote from: Iadegbola34 on April 10, 2022, 07:33:23 AM

Let's hear some expert opinions.

Experts dont come to forums like these. Roll Eyes

Quote

What do y'all think?

I guess that contradicts the previous line from your side. Grin

Quote

Will BTC price movement continue to have the same effect on alts price in like 10 years? 20 years maybe?

Altcoins have existed since bitcoin came in, they have been a collective against a one man army of bitcoin. The reason why altcoins rose to a significant portion of the market share is a difference in public opinion and use cases. This is the example of democracy in the crypto sector, everyone is free to choose what they use.

Since majority of altcoins are bought and sold with bitcoin, it tends to influence the price. Trading them against fiat is still not that convenient, although attempts have been made to incorporate the same into merchants. So in my opinion, unless a new coin becomes something even more useful than what bitcoin has been, it will continue to have an effect on altcoin prices.

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Quote from: Iadegbola34 on April 10, 2022, 07:33:23 AM

What do y'all think? Will BTC price movement continue to have the same effect on alts price in like 10 years? 20 years maybe? Let's hear some expert opinions.

To answer this, you need to compare the total market cap of bitcoin and the total market cap of the altcoins. As long as bitcoin alone has a more significant market cap as compared to all the altcoins, the bitcoin movement will affect the altcoin prices.

Natalim

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Quote from: Iadegbola34 on April 10, 2022, 07:33:23 AM

What do y'all think? Will BTC price movement continue to have the same effect on alts price in like 10 years? 20 years maybe? Let's hear some expert opinions.

I'd say it Becoming Possible but NOT ALL.
10-20 years from now, I'm expecting too many changes to happen in the market but can't just rid of the influence of Bitcoin on the crypto market and their connection still firm. Well, we can't just disclose by any chance and besides, some of the altcoins now are now hyping their own even though the price of Bitcoin is declining. We can see it on the CMC.

But anyway, I wasn't worried much if this going to happen, we'd been supposed to be glad as altcoins had stood their own.

verita1

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When people compare bitcoin and altcoins. They don't really realize what they want.
Bitcoin is the main asset in the crypto market and is an irreplaceable leader.
The altcois took on the task of creating new spaces to diversify our investments such as: NFT, GameFi, DeFi, exchanges and more services to satisfy the demand that the banks did not give us.
But in the end bitcoin will continue to lead the market because it is the most trusted asset because it is seen as digital gold.

mildmanneredsuffering

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bitcoin is an off chain exchange system.

It has been superceeded by on chain exchange systems. Bitcoin will always be the first but will never again be the best cryptographic economic system

ETH is almost sure to replace btc in total mcap because of this, and one day a different system will replace eth.

Dean2

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Quote from: Iadegbola34 on April 10, 2022, 07:33:23 AM

What do y'all think? Will BTC price movement continue to have the same effect on alts price in like 10 years? 20 years maybe? Let's hear some expert opinions.

Bitcoin has always impacted altcoins simply because it holds the biggest marketcap and i don't see that changing in the next 10 years or so.

darewaller

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Quote from: kamilah147 on April 14, 2022, 03:13:10 AM

bitcoin ever scored its highest price in 2021 after 2019 saw its lowest price point. Judging from the price comparison between 3 years, Altcoins seem to always follow the price of bitcoin. I also don't know why every time the price of bitcoin goes up, altcoins always go up. and speaking of the next 10 to 20 years this will also happen to altcoins, the price increase is only different in percentage only.

I agree with this. We have seen bitcoin go up in cycles so far and we could see that again. I do not know if it will be the same period or not but I know that it will definitely happen again, maybe in 3 years, maybe in 2, maybe in 5 but I know that it will break ATH and go up.

I cannot talk about all altcoins, some of them will crash, or already crashed and they will not recover, we had that in 2017 as well many things that looked high, even top 20, ended up crashing and never recovering. Look at bch and bsv for example, they were both top 10 coins and nowhere to be found right now, many people lost money there. But I know that bitcoin will be safe and will go up.

kamilah147

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bitcoin ever scored its highest price in 2021 after 2019 saw its lowest price point. Judging from the price comparison between 3 years, Altcoins seem to always follow the price of bitcoin. I also don't know why every time the price of bitcoin goes up, altcoins always go up. and speaking of the next 10 to 20 years this will also happen to altcoins, the price increase is only different in percentage only.

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Quote from: Iadegbola34 on April 10, 2022, 07:33:23 AM

What do y'all think? Will BTC price movement continue to have the same effect on alts price in like 10 years? 20 years maybe? Let's hear some expert opinions.

I'm not an expert here and besides, experts can't even tell. However, there are possibilities to see a huge change in the market 10-20 years from now and withstand the thing that altcoins make have their own way to survive without relying upon Bitcoin anymore.

As people have begun to learn more about crypto and developers continue to discover ways how to become independent most likely, we gonna see different market trends somewhat in the future. In fact, we have noticed it already at this time, some projects went the opposite direction to Bitcoin.

https://coinmarketcap.com/currencies/apecoin-ape/

davis196

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Why do you have to compare Bitcoin to all altcoins?Bitcoin should be compared to every altcoin in particular,not all altcoins simultaneously.
An altcoin will become "independent" from Bitcoin when it gets enough trust and authority and there are enough people,who are willing to HODL this altcoin in times of a bear market.
For instance,when the market does down,a hardcore Bitcoiner says to himself "I'm just gonna HODL my Bitcoins,the price will eventually hit another ATH".
But when the market goes down,an altcoin trader says to himself "Things are going bad,so I have to sell my altcoins ASAP,because their price might hit the absolute bottom"
That's why the altcoins don't carry the same weight as Bitcoin Core.

Waddle

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Bitcoin Being the king of the crypto universe has always influenced the price fluctuations of altcoins and is expected to do the same in the future. Altcoins are used way less than bitcoins and bitcoins have always dominated and are expected to dominate altcoins.

awik p

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Quote from: Iadegbola34 on April 10, 2022, 07:33:23 AM

What do y'all think? Will BTC price movement continue to have the same effect on alts price in like 10 years? 20 years maybe? Let's hear some expert opinions.

changes and developments in cryptocurrency in the future no one knows for sure, everything will experience a shift according to its development. I think if bitcoin is in this position, the effect will remain the same, which is the parent for other altcoins, but if there is a coin that is more dominant than bitcoin later, the influence of bitcoin will certainly fade. but I think with the current level of trust in bitcoin, of course for the next 20 years or even the next 10 years bitcoin will still be the king of cryptocurrencies, considering 10 years is not a long time, and bitcoin is still predicted to always print its new ath with the increasing number of bitcoiners around the world

Kasabus

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Quote from: Iadegbola34 on April 10, 2022, 07:33:23 AM

What do y'all think? Will BTC price movement continue to have the same effect on alts price in like 10 years? 20 years maybe? Let's hear some expert opinions.

It depends. If bitcoin still dominates the market after 10 or 20 years, then its always expected that altcoins are still bound to follow bitcoin's path. Whatever the price of bitcoin, altcoins will be greatly influenced and benefit from it. If bitcoin price drops more, altcoins prices are expected to drop more deeply than bitcoin. However, no one holds the future of bitcoin and crypto space, maybe by that time a new powerful altcoin will be able to replace bitcoin's position. In that case, bitcoin will surely be affected by the leading altcoin.

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