Post
Topic
Board Altcoin Discussion
Re: What kind of magic is this?
by
liivii
on 24/07/2018, 08:37:39 UTC
I've been monitoring the market for a couple of months now. Most of the coin value rely on the price of Bitcoin. If the BTC price goes up, every altcoins will follow and if it will goes down, the price of every altcoins will goes down as well. But the question is, Bitcoin price/value is still going up but the price/value of every altcoins especially Ethereum goes down. How did this happen? Any logical or scientific basis to explain this. As of now, I am still confuse.  Huh

Because even though Bitcoin is the foundation of altcoins they've still different systems and supports. So if ever the price of bitcoin goes up and down it doesn't mean the altcoins will goes up as well, there are some explanations to it and one of them is when the price of Bitcoin increases some holders will probably sell some of their altcoins to buy Bitcoin and the result will be + in demand of Bitcoin while - in demand of an altcoin.