Post
Topic
Board Altcoin Discussion
Re: What kind of magic is this?
by
fosco333
on 13/09/2018, 04:36:44 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

The altcoins price not really depends on bitcoin. When the ETH price dropping great, btc price is still above $6000.
i think the most plausible explanation is, because many holders change their portfolio from altcoins to bitcoin.
There is a high possibility that they sold their altcoins to buy more bitcoin.