Post
Topic
Board Altcoin Discussion
Re: Are mainstream events linked to crypto's price movement on the market?
by
Totori
on 11/01/2020, 01:27:24 UTC
Do you think current prices on the market for each cryptocurrency are largely attributed to events in the mainstream world? I've noticed that every time the stock market goes up, crypto goes down in price. The same thing happens vice versa. Even Facebook's Libra announcement, had a positive impact in crypto's price within the short term. I believe this shouldn't happen in the first place as crypto was meant to distance itself from the centralized world. Linking mainstream events to crypto, will result more harmful than good, in my own opinion. Crypto should be independent from whatever happens in the outside world. Once this is achieved, cryptocurrencies will be able to reach prices far beyond reach. At least, that's the way I see it. Maybe I'm wrong. But, if crypto is truly linked with events in the mainstream world, we could have an idea when it'll rise in price or when it'll fall.

What do you think? Huh

I don't believe so for "each currency", but I do believe that it's possible for bitcoin and several of the other larger currencies. Things such as the actions against Iran, China mining issues and many others tend to make bitcoin flucuate wildly since Bitcoin can be seen as a risk aversion asset at times similar to gold.