Topic: Witnessing BTC going down, and all alts, directly at same time, again. (Read 524 times)

Altcoin depends on the bitcoin's price. But if you really want to get a lit of bitcoin, you should have try to invest in altcoins and then after that if you think it is already good then you can buy bitcoin using it. In that way, you can buy more bitcoin faster.

Yes mate, we do all witness it. The only one altcoin that did not fall after Bitcoin was down was Cardano. This small alt is rising constantly during the last week. As for the alts and BTC decrease, it might be not even a correction yet. Let us wait more to judge about it.

It has gotten quite annoying though since we haven't had a stable btc price for a while. It affects the trading heavily.

When I first got into crypto, and I saw the price of bitcoin go down, and all of the alts with it, I was freaking out, and jumped on bitcointalk to figure out what was going on.

Now, everytime it happens, there is someone who asks this question.

So a couple of fundamental things I learned about crypto that you should take to heart.

-EVERYTHING relies on bitcoin.  It is not only the king, but the anchor to which the market moves.  It's not because it's the highest valued or the most popular, it is actually
something simple.  It is the most liquidable crypto BY FAR.  What other coin or token can you quickly and easily convert to fiat? Eth maybe but even eth is way behind in terms of being able to easily turn your crypto to cash.  So all those price valuations on coinmarketcap are really just the price of the coin in terms of btc but converted to be displayed in usd.  In reality, you will first trade it for btc then btc to cash.

-Price corrections are normal and healthy for the market.  The last major crash I can think of was back in aug/sep when btc hit 5k, then it went all the way down to $3200.  This allows people to consolidate their investments, gives people profit, and when price dips allows more to enter the market.  I actually want btc to crash further.  This will ensure another healthy bull run a month to a couple months later.

That's right,if BTC drop then the most of altcoins also decreases its value,but maybe some are selling for profit at that time and some others are waiting for that fall to be able to buy cheaper and that cycle of ups and downs happens continuously,I suppose it has to be a normal behavior in any kind of market,moreover I cann´t imagine myself seeing to any ALT decoupling directly from the value of BTC since they are intimately related.
   

This is what I'm getting grasp of. If belief in initial, seeing how news can affect, yet rebound, IMO, Initial fundamental is stronger than any other that may try to affect. Future growth away from others' control. IMO.
(Thank you Sat).

This is the markets!
when BTC drop,all the invest will sell their coins to faits!
becasue many people just want to make fast money,seldom are valu invest!

Who is we? BTC is of its' own. News affects. Yet IMO, Initial idea prevails...

But we also needed a correction right? CoinBase > IRS was bad news, but perpaps in the end tax regulation for crypto will contribute to the steady future for digital coins.

This is no correction, this is the news regarding CoinBase. Get real. Same as China FUD, Fork etc...
EDIT: Situation has passed. Correction, and uptrend seen, yet issue of CoinBase IMO, something to be considered affecting, maybe for a while?...
CoinBase issue IMO caused the 2k drop.

Lots of people (also investers) seem to have no faith when a correction taking place. Correction is normal, as it climbs so fast, people should get more faith in the top 10 coins and stop dumping when they get scared.

Of course, if believe, HODL!
The artificial drop (IMO) across board, to the minute, is not reflective of peoples' actual actions at time.
Individual coins' value is being over-seen, and controlled, IMO.
EDIT: For a price drop across the board (CoinMarketCap), the answer to my question, is that BTC directly, and IMO should not have, direct influence as to the real-world value of another coin/ project. Full Stop. Remove the BTC own issues, IMO, to not allow to affect others' progress...

Don't get nervous. Some altcoins always follow BTC, which is up again. I keep now my BTC and alts. Seem to generate good passive income.

Is this where I come for someone to present my post in a better manor?

Seems like the entire market is directly related to Bitcoin.. Doesn't suprise me, as it has been like this for the entire existence of cryptos, but in the near future i think some coins will decouple for Bitcoin and be able to trade on their own without being affected by other coins' price swings.

So, essentially, all Alts are slave to BTC?
Is it not that now, the real-world benefit, Hi-Tech talent in this space, value of coin, should not be artificially affected, due to another coins' issues?...
Govs know, BlockChain is future. For project development to be directly affected due to external issues (ie BitCoin Issues), IMO, needs to be removed. Remove the middle...
ie Alts directly have no blockage regarding Fiat. IMO.

As present, the altcoins are depended on bitcoins. like if you want to get cash, you need to convert alts into bitcoins and then from bitcoin you can exchange it for Cash. I dont think any payment methods directly converts alts into local Fiat. Also Bitcoins is used as mode of payment plus as a currency to trade but none of the alt is used as a mode of payment and they are used only for trading purpose. That's why the increase and decrease of bitcoin price directly impacts the altcoin prices.

The drop in bitcoin price is said to be due to the coinbase and some other exchange shut down. For the alts, oh well, clearly, when people see the bitcoin price rising, most of them converted their alts to bitcoin to join the rise, especially during forks, to get free money. Oh well, that's expected anyways.

alts priced to btc

Alts are priced due to market price considered value. BTC is paired, so is ETH, USDT. If ETH plummets, do all alts?. No.BTC value is with Fiat.
Should we now have a time where alts, ie high-tech companies should be placed directly to fiat, for real world value? And not allowing BTC to be an interim? (MiddleMan?!)...
EDIT: Time for Alts to have direct access IMO, for what whole ethos being, remove middleman, having to rely on something blocking direct access... Blindingly obvious, IMO...
And Edit again: Is it not that Bitcoin is in no ones control, yet only placed in position? Would it not be in all exchanges benefit, regarding liquidity, to remove the middleman, ie bitcoin etc.., to place a different model, whereby all alts etc, all coins, free to move trade, etc.. without limitations?... Have I just placed the future vision of what will be? LOL...(Dare to Imagine what would be best for all...).