Post
Topic
Board Altcoin Discussion
Re: Bitcoin, Altcoin, New Projects Relationship
by
tenakha
on 23/11/2019, 21:39:02 UTC
Most of the speculators before and even now are saying that if Bitcoin goes up, then altcoins goes up as well and good projects perform well. How true are these speculations if there are different technologies or plans for each cryptocurrency? And the fact that bitcoin is not even the first cryptocurrency.
This relationship certainly exists. However, the whole market is not with each other, but BTC(66.1%) and ETH(8.2%) stand in the first place, while others change in accordance with theirs future price changes. Most altcoins in the market do not have a direct price in USD, so their price is calculated by BTC. Accordingly the change in the price of BTC affects others price immediately.