Quote from: jmigdlc99 on October 07, 2019, 05:11:32 AM

Quote from: ePesoInitiative on September 30, 2019, 08:03:25 PM

You know the drill. When Bitcoin rallies hard, altcoins dump. When Bitcoin dumps, all the rest dumps too. But when Bitcoin is sideways, altcoins rally and some go their own price action.

Everyone in this subsection of Bitcointalk is waiting for altcoin season to come again. Some have already given up.

I will try to post my observations about the market relationship of Ethereum which is the current lead indicator of altcoin market health to Bitcoin's.

I believe Ethereum price action to be independent of Bitcoin's value. While it is true that most other altcoins follow the trend, Ethereum is a beast (sometimes) of it's own. We've seen this previously when ETH value soard to $1400 and we will probably see it again when the promised glories of ETH 2.0 and proof-of-stake becomes realized. The problem now really is a matter of time, when will ETH devs delivery on their promises?

Experts agree that the price of Bitcoin has a direct impact on the value of other altcoins and Ethereum is one of them. To verify this, just look at two graphs of the exchange rate - for Bitcoin and Ethereum. The most significant is 2017 when there was a sharp increase in the price of many virtual coins. So, a significant increase in Bitcoin has been observed since the middle of summer, and the price peak peaked in December 2017, when the price reached the mark of 20 thousand dollars.