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[AudraMiller]

The price of Bitcoin is often largely tied in with the price of the altcoins, and vice versa, and therefore with notice that when the price of Bitcoin rises, so does the price of the altcoins, and when there is a decline most of the crypto market reacts in the same way as well. Recently, Ethereum has pushed forward, with Bitcoin price rising above 51k USD, however the price of Bitcoin has since come down a bit. This could be a pull back that tests the next resistance level and could see a major price hike. In my opinion, a price hike in Bitcoin should divert the attention away from altcoins to Bitcoin, and this should cause their price to decline whilst Bitcoin increases in price. Why do you think there is this relationship between the two?

 

[Niftyicon]

I really do wonder sometimes why so many of the altcoins have their price increases dependent on bitcoin. I think it is not a bad thing though since bitcoin is almost always doing well.

 

[Brain]

The price of Bitcoin is often largely tied in with the price of the altcoins, and vice versa, and therefore with notice that when the price of Bitcoin rises, so does the price of the altcoins, and when there is a decline most of the crypto market reacts in the same way as well. Recently, Ethereum has pushed forward, with Bitcoin price rising above 51k USD, however the price of Bitcoin has since come down a bit. This could be a pull back that tests the next resistance level and could see a major price hike. In my opinion, a price hike in Bitcoin should divert the attention away from altcoins to Bitcoin, and this should cause their price to decline whilst Bitcoin increases in price. Why do you think there is this relationship between the two?

If one have been studying the market, this point of ours will be very glaring. I noticed same too that Bitcoin rise in price will always pull ither coins price forward

 

[Wisdom01]

I think its because the two are the most popular coin on exchange and trading sites , so when people are investing they focus on the two coin which is bitcoin and ethereum , that is why they increase in same direction

 

[Rollerkid]

The price of Bitcoin is often largely tied in with the price of the altcoins, and vice versa, and therefore with notice that when the price of Bitcoin rises, so does the price of the altcoins, and when there is a decline most of the crypto market reacts in the same way as well. Recently, Ethereum has pushed forward, with Bitcoin price rising above 51k USD, however the price of Bitcoin has since come down a bit. This could be a pull back that tests the next resistance level and could see a major price hike. In my opinion, a price hike in Bitcoin should divert the attention away from altcoins to Bitcoin, and this should cause their price to decline whilst Bitcoin increases in price. Why do you think there is this relationship between the two?

I think it's just market forces that affects these relationship you are suggesting. Sometimes bitcoin will be surging while other altcoins are suffering price crash and sometimes the vice versa.

 

[Kaycee vevah]

I think its because the two are the most popular coin on exchange and trading site especially bitcoin so that's why the altcoins are dependent on it

 

[AudraMiller]

I think it's just market forces that affects these relationship you are suggesting. Sometimes bitcoin will be surging while other altcoins are suffering price crash and sometimes the vice versa.

Really? To be honest I have never seen this happen. Generally I see that Ethereum, Litecoin and Bitcoin are tied together very closely and when Bitcoin goes down all three show signs of decline as well. Perhaps Bitcoin sets the mood for the rest of the cryptocurrencies and that is why the others decline as well? Its decrease incites fear into the traders for the altcoin market.

 

[Brain]

I think its because the two are the most popular coin on exchange and trading sites , so when people are investing they focus on the two coin which is bitcoin and ethereum , that is why they increase in same direction

Yeah right, it's just human nature where we like to go for the known things so same is applicable here. People go for the most popular coins and the next to it.

 

[Rollerkid]

Really? To be honest I have never seen this happen. Generally I see that Ethereum, Litecoin and Bitcoin are tied together very closely and when Bitcoin goes down all three show signs of decline as well. Perhaps Bitcoin sets the mood for the rest of the cryptocurrencies and that is why the others decline as well? Its decrease incites fear into the traders for the altcoin market.

I see your point and sometimes it happens like how you see it. But sometimes it goes the opposite. If you can remember, ethereum increased from somewhere$700 to $1000 or so just within 24hrs sometime ago when bitcoin bullish run was over.

 

[Wisdom01]

Yeah right, it's just human nature where we like to go for the known things so same is applicable here. People go for the most popular coins and the next to it.

Yeah the most popular is what people actually go for , since they believe that their investment are safe there than the unpopular ones with no record

 

[Brain]

Yeah the most popular is what people actually go for , since they believe that their investment are safe there than the unpopular ones with no record

Thats the whole idea. People might not really trust other altcoins but with btc there's trust and people will be willing to invest more in it

 

[Wisdom01]

Thats the whole idea. People might not really trust other altcoins but with btc there's trust and people will be willing to invest more in it

And i think the main reason while more people invest in that particular popular coin , is when they see more big companies investing in it

 

[Rollerkid]

Yeah the most popular is what people actually go for , since they believe that their investment are safe there than the unpopular ones with no record

Yeah, you are right. And how l see it's those that are not educated much about the crypto market, they are always afraid of investing in other coins apart from bitcoin.

 

[Wisdom01]

Yeah, you are right. And how l see it's those that are not educated much about the crypto market, they are always afraid of investing in other coins apart from bitcoin.

Lol i guess its the only coin they know about and the only coin their friends told them to invest on , so they believed that other coin are not crypto and they a certain investment on their own

 

[sagefave]

The relationship between bitcoin and other altcoins is like that of a pack of wolves. The alpha leads and the rest follows. Bitcoin being the very first cryptocurrency is a widely adopted coin on every exchange.

 

[Wisdom01]

The relationship between bitcoin and other altcoins is like that of a pack of wolves. The alpha leads and the rest follows. Bitcoin being the very first cryptocurrency is a widely adopted coin on every exchange.

This is true tho because been the most popular adds more edge to it over other coins , and that is the reason many keeps investing in bitcoin , since they believe more in it

 

[achawaskey]

Because all are cryptocurrency and are in same market so if there is prise rise invariably it will affect the other just like in the forex market, whatever happen to dollar will affect the rest of the other currency.

 

[Brain]

And i think the main reason while more people invest in that particular popular coin , is when they see more big companies investing in it

More gisnt companies and brands investing in a particular coin means more investors and that's the fact. People will always want to follow their mentors route and that's just the truth

 

[Wisdom01]

More gisnt companies and brands investing in a particular coin means more investors and that's the fact. People will always want to follow their mentors route and that's just the truth

Yeah those companies have customers too and due to this they would make sure they invest in that particular coin i think , this method is what is making coins like doge increase at a very high level i think

 

[ELSA-ELI]

I guess its just how the game rolls.The systems are so not making sense how everything with crypto currency anymore.Have you wondered now that the lowest transaction fee for the least altcoins is 6cents as for btc it goes so high and unbearable and the threshhold too is way high to makes transactions.