Post
Topic
Board Bitcoin Discussion
Re: Does bitcoin control the market?
by
WUUEX79
on 01/10/2018, 07:18:09 UTC
Most people believe that the price of altcoins' is determined by the price of bitcoin and that they tend to follow it's market movements.

I partially disagree with this. I have studied prices of coins and tokens on CMC and the fluctuations of each currency seems to be unique and independent of any other digital currency. Some show strong pumps when BTC goes down and some heavy dumps when BTC is rising.

Undoubtedly, there are market forces and factors which affects most currencies, this is not influenced by bitcoins price, it rather controls bitcoins' price as well as others.
So when trading or investing, make sure you treat each currency differently as they have different utilities.

Maybe it's normal if every coin has a community in it and comes with the advantages of each especially in security breakthroughs. When one of the communities makes a purchase on one coin for example EXC, then the number of requests for EXC coins will increase and certainly only EXC coins will experience an increase in price. Perhaps it has become the stipulation of market law that the rise, and fall of each coin are determined, by supply and demand. So it's clear that the increase in the price of each coin, is not determined by bitcoin.