- Nov 22, 2019
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I could see 8% increase in bitcoin price in last 24 hours. But ripple almost remained the same price in my exchange ? Why is it so ?
Why are other apt coins not showing same movement as bitcoin ?
- Thread starter onlinemarketer12
- Start date
Stoy_Morado
Junior Member
- Jan 2, 2018
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Thats my question too. All i know is that ripple pays some millions in XRP to somewhere in Q1 2020, maybe this affects.
- Nov 22, 2019
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Ripple pays to xrp ? What is that ?
tb303
Supreme Member
- Dec 18, 2011
- 1,238
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- Nov 22, 2019
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So we will see prices going further down ?
tb303
Supreme Member
- Dec 18, 2011
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No idea. Im just linking you that article so you are aware of the selling going on there. Personally not something I would touch with a shitty stick for various reasons.
thevideoguy
Regular Member
- Sep 25, 2017
- 397
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There are similar forces driving the prices of the top cryptocurrencies but they aren't exactly the same so things don't move in the exact same way.
In this case, the Bitcoin halving is in 2 days so this would explain some of the price movements over the past week: https://www.coingecko.com/en/explain/bitcoin_halving
- Nov 22, 2019
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Now that the halving is over, can we expect same trend.
tb303
Supreme Member
- Dec 18, 2011
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I would say order book depth is a lot of it
A quick look on coinbase pro just now
A market buy of ~$1million would take BTC from ~$9087 to ~$9117 which is +0.33%
A market buy of ~$1million would take ETH from ~$193 to ~$196 which is +1.55%
The arbitrage bots will soon even any differences out across exchanges but that goes a long way as to why you can get larger moves in altcoins as opposed to bitcoin even if it is follow the leader.
EDIT: Forgot to put XRP in the list. It was about +10% but that countered by Jed selling his and poor confidence in ripple because of that.
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- Nov 22, 2019
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So one should stay away from ripple ?
- Mar 21, 2013
- 24,786
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Call me a fudster but I honestly think this current price is 100% manipulated.
- Nov 22, 2019
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Go with the trends and make money. Why it matters if it is manipulated or not ?
SellingStealth
Junior Member
- Sep 17, 2019
- 157
- 27
People may have learned from last time since so many alt coins took a large nosedive, btc is viewed as a "safer" crypto
- Nov 22, 2019
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That is why most of my investment is in btc.
- Mar 21, 2013
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Mostly because they control the trend and dump it whenever they choose to. Natural market movements make sense. Manipulated ones don't.
Fragmaster
Senior Member
- Apr 3, 2016
- 986
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Alts can rarely follow BTC in the long run. For majority of the veterans in the field, alts are just means to an end. To grow BTC stack. Only few ever outperformed BTC for longer periods.
They don't offer equity or any kind insurance to pad your losses.
Black swan events are 100 times more probable for alts compared to BTC. Everything can trigger it. Public incident, death of leading figures, scam, insider trading, network attack, bugs in chain or contract.
Growth of alts is slowed by noise. They compete against eachother, resulting in very small communities, and relatively small purchase power. And many bagholders. Irrational bagholders are reason why second pumps are suppressed.
Alts have their MO : spiky shark fin/mountain shape chart, usually lasting ~14 days at most, before unavoidable demise. Very few defy this pattern.
They don't offer equity or any kind insurance to pad your losses.
Black swan events are 100 times more probable for alts compared to BTC. Everything can trigger it. Public incident, death of leading figures, scam, insider trading, network attack, bugs in chain or contract.
Growth of alts is slowed by noise. They compete against eachother, resulting in very small communities, and relatively small purchase power. And many bagholders. Irrational bagholders are reason why second pumps are suppressed.
Alts have their MO : spiky shark fin/mountain shape chart, usually lasting ~14 days at most, before unavoidable demise. Very few defy this pattern.