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  1. #1
    Official Lip Ripper' haftafish22's Avatar
    Join Date
    Feb 2010
    Location
    Harrah, OK
    Posts
    8,873

    Riddle me this.....

    I have eth, Ltc, Btc, xrp and others on a watchlist. They are ALL moving in sync with eacother. What causes this? Massive amounts of algo trades? I don’t understand

  2. Stocks/Investments Moderator boneil's Avatar
    Join Date
    Jul 2010
    Location
    Aberdeen, MD
    Posts
    12,147
    #2
    herd mentality. When bitcoin moves, traders simply jump on other coins because whats good for one coin is good for other coins. Whats bad for Bitcoin is bad for other coins.
    Thanos was the hero

  3. Member
    Join Date
    Feb 2017
    Location
    Schertz Tx
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    819
    #3
    Not how they are moving today...Actually they have been VERY aligned with stock market moves the last week.

  4. Member
    Join Date
    Nov 2012
    Location
    Nederland, Tx
    Posts
    13,618
    #4
    Because the majority of trades are btc or eth pairs. Right now you pretty much have to go thru btc or eth to buy other coins. Since the name bitcoin is the main stay that's what most newcomers use not realizing the fees and transaction times are worse for btc than eth. The market is tied to btc for better or worse. Until exchanges start letting you buy alt coins with fiat or there are more trading pairs adopted it will always be tied together. I think it will hurt in the short term but crypto needs to unhinge itself from btc and let coins figure out their own true value.