Post
Topic
Board Altcoin Discussion
Re: Are all altcoins dependent on Bitcoin?
by
memyselfandi
on 12/06/2021, 20:48:11 UTC
Most of them but not all. But bitcoin has a huge contribution with regards to altcoins movements that is why it is called as "mother of cryptocurrency". But based on the performance of crypto marlet for the past few years, there are times that bitcoin and altcoins has different market trend.
- Agreed, in bitcoin movements, we sometimes see a few altcoins that may not cooperate with this movement, they show individual styles but that's just a little hype to make money while bitcoin is messing with the altcoin market, but this period of non-cooperation is relatively short, almost every day they will be replaced by other altcoins. Maybe when we look at altcoins in reality, there is no concept of total dependence but when we look at it holistically, altcoins that depend on bitcoin are everything, this cooperation has been forced and has been associated since the birth of altcoins
Yes, mostly those are the pump and dump coins. But sometimes a certain coin have its own trend because there are some announcements or some exchange listings that affects the market price movement.
That is one reason why crypro market is more easily predicted way back 4-5 years ago compare to the current. Each year passed by the market became more diffucult to read and analyze, compare few years ago wherein you can actually predict the market just by analyzing btc alone.