Post
Topic
Board Bitcoin Discussion
Re: Altcoins price pump influence bitcoin price Negatively ?
by
CryptopreneurBrainboss
on 28/11/2020, 16:13:10 UTC
I have the impression that every-time bitcoin starts climbing steadily, the XRP pumps like crazy 100%+ within 24h, causing doubt in the entire market!
Are altcoins like stellar and xrp harming the bitcoin price by their manipulated pumps ?

Re-examine the market and you'll observe it's the other way round. I'm a big fan of bitcoin but sometimes its price manipulation affect other crypto currency more than it does to its market. You can see how the sudden correction that happened few days back affected mostly the altcoin market dumping them to lows that'll required twice the effort they used for previous climbing. Bitcoin dominance is dictating what happens in the market.

There are doubt in the coins pumping but it has nothing to do with bitcoin, irrespective of what's happening in the altcoin industry, it has zero effect on bitcoin instead bitcoin profit from them. A perfect example is when alts dump and bitcoin pumps meaning funds are moving from alrs to Bitcoin.