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Effect of Bitcoin pump on altcoins?

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KarthikP

KarthikP

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Now the Bitcoin seems to break the resistance. It's now $9800 and I think it will cross $10000 by this weekend. What do you think will this effect on altcoins? Will the altcoins go to moon or the price doesn't change ?
 
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highspeed said:
Dear friend @krishnamuri , I don't know much about others currency.
However, in my country we use Euro (€).
As you can see from this graphic, this ratio (Bitcoin / Euro) seems to be at historic highs!
Do you know if it went even over in the past?
Click to expand...
I am not sure about euro/ BTC. I am much more involved in cryptocurrencies
 
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highspeed said:
Dear friend @krishnamuri , I don't know much about others currency.
However, in my country we use Euro (€).
As you can see from this graphic, this ratio (Bitcoin / Euro) seems to be at historic highs!
Do you know if it went even over in the past?
Click to expand...

There are lot of other cryptocurrency coins like litecoin, etherium, doge coin, tezos, and many others that are going up in price slowly but they are less in USD than bitcoin. Bitcoin is the highest and will likely keep going up and bitcoin may fluctuate in price a lot more than the other coins that are less in price which can be stable.
 
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highspeed said:
Dear friends @krishnamuri and @nneha2ggupta , I am really honored with you, who know a lot about cryptocurrencies.
If well exploited, I believe, they can be an excellent economic resource. :Thumbsup:
Am I saying well?
Click to expand...
Yes. You can invest in bitcoin as well as all these crypto coins to maximize benefits. Good luck and thank you.
 
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In most cases when the price of bitcoin increases it correspondence to other coins though the percentage might differs , as the price dropped from $9800 all others coins also dropped.
 
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For sure, the price of altcoin is also going to skyrocket just like the value of bitcoin did... they work hand in hand, I guess. Anyways, we will have to wait and watch to be sure
 
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krishnamuri said:
I am not sure about euro/ BTC. I am much more involved in cryptocurrencies
Click to expand...
I'm not an expert at all. However at this moment I can project you the value of the EURO / BITCOIN ratio
Look at this chart please.
Thank you.
pagato.GIF
 
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For as long as I know Bitcoin price has ever be overwhelming for other altcoins, the act do push the prices of other coins a bit but it don't has ever competed favourably with it. Bitcoin is more or less a king
 
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Most altcoins prices are Directly affected by btc prices as most altcoins are being traded into btc as btc is the most used cryptocurrency, that said, some altcoins with unique features do have independent prices that are currently not affected by btc prices, all in all it still depends on alot of factors in the blockchain, but btc price is still a big factor for alot of altcoins
 
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There's always a boost in price of other altcoins like what is experienced now. So the price of btc can be said to be of great benefits to the other altcoins when it rises
 
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I think when the price of bitcoin keeps decreasing , many people would move to other altcoins and start investing , instead of bitcoin , and this would affect the price of other altcoins positively
 
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Wisdom01 said:
I think when the price of bitcoin keeps decreasing , many people would move to other altcoins and start investing , instead of bitcoin , and this would affect the price of other altcoins positively
Click to expand...
Well, I'm sorry you used the conditional verb saying "when the price of bitcoin keeps decreasing".
However, the rise of Bitcoin does not seem to stop currently, breaking all records since it was created in 2008.
Am I right?
Thank you.
 
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Bitcoin seems to be the governing factor for other alt coins, if other factors are not considered.

The more it rises, the more significance the other ones get.
 
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GoldenLady said:
Bitcoin seems to be the governing factor for other alt coins, if other factors are not considered.

The more it rises, the more significance the other ones get.
Click to expand...
Well , this is some cases are not true . YFI lose to $33,000 when Bitcoin was still struggling with $9k price . Many people were not fortunate to capitalize on the coin .
 
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GoldenLady said:
Bitcoin seems to be the governing factor for other alt coins, if other factors are not considered.

The more it rises, the more significance the other ones get.
Click to expand...
I'm sorry, substantially you say that the growth of Bitcoin also involves the simultaneous growth of the value of other cryptocurrencies?
I understood well?
Thank you.
 
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Earlier before bitcoin now when very little people Invest in bitcoin, the moment it rise most altcoins do have a corresponding rise but now the percentage rise in bitcoin is far higher than the percentage rise in altcoins.
 
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