haejin
I am sure you noticed that EOS for example and other altcoins are not jumping, they are following BTC. in your opinion, when will this trailing stop, what sign do we need to see to have a hint the altcoins are going to start moving on their own?
I want to purchase steem power and help with voting btw. I'll learn how to do it b"h.
I think the correlation is:
Once BTC goes up. If a coin was worth X BTC then automatically at the moment BTC is up, that coin USD value goes up. Because you can trade it and get the same X BTC but BTC worth more USD.
haejin
I am sure you noticed that EOS for example and other altcoins are not jumping, they are following BTC. in your opinion, when will this trailing stop, what sign do we need to see to have a hint the altcoins are going to start moving on their own?
I want to purchase steem power and help with voting btw. I'll learn how to do it b"h.
Maybe the correlation in trend has to do with the fact that most people have to buy BTC in order to buy ALTcoins?
Good thought. I hadn't considered, but could be the reason!
I think the correlation is:
Once BTC goes up. If a coin was worth X BTC then automatically at the moment BTC is up, that coin USD value goes up. Because you can trade it and get the same X BTC but BTC worth more USD.