Post
Topic
Board Nigeria (Naija)
Re: bitcoin affecting altcoins
by
Mate2237
on 16/11/2023, 20:27:55 UTC
Overtime i see that whenever there is a dip in the price of bitcoin, other altcoins tends to follow suit by also dropping in their prices and whenever there is an increase in the price of bitcoin, other coin as well increase in their value. Does it mean that other altcoins cannot be dependent on their own? Like must the activities of bitcoin affect the alternate coins at all time? I really want to understand why alternate coins like BNB, ETH, TWT, MATIC,  XRP,  LTC, DOT, ADA, SOL AVAX and so many other alternate cryptocurrencies are always affected whenever there is a change in the price of bitcoin like can't they be dependent on there own? as they are all cryptocurrencies despite the fact that bitcoin is more volatile than the rest of the cryptocurrencies.

Altcoins na follow follow. Dem dey follow bitcoin for any direction im go. Bitcoin na bi their father so im dey guide dem the road. Now dat bitcoin price going up, Ethereum is is going up to di $1900k nai make it u like to purchase m make you buy now so dat wen bitcoin reached di peak den at dat time Ethereum sef go go up.well well and you go make profit from am. Di way the ecosystem dey, na because bitcoin di altcoins dem come out so dem no go just do things on their own like that.

As for me even forum sef I never see am from altcoins even Ethereum wey I dey tok for here sef I never see im forum wey e dey like this one. And many persons no like altcoins because dey too dey disappoint person.