Is Bitcoin holding other cryptocurrencies back?
Greetings,
Most, if not all, cryptocurrencies that are speculated on in the open market respond to the price of Bitcoin. This is probably mostly due to all the algorithmic trading that goes on in the centralised exchanges. If you watch the charts, it’s obvious that there are bots that are constantly scanning the price of BTC in order to respond to any price action.
In this video I talk about how Bitcoin may be holding back altcoins due to this coupling. I also talk about the non-algorithmic coupling that has more to do with human psychology.
Which crypto will fully decouple from Bitcoin? Is this even possible?
Peace & Love,
Adé
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To the question in your title, my Magic 8-Ball says:
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I do believe that bots and algorithmic trading are playing a huge part in to the price manipulation but I believe that all of our projects are linked to bitcoin due to one specific fact. Satoshi’s wallet that has not moved is what creates the initial trust everything else is built upon. I am not sure that any project can “break past” rather it’s almost as if projects need to try move freely within the confines of Bitcoin Price 🤷♂️ Make sense?
" Satoshi’s wallet that has not moved is what creates the initial trust everything else is built upon." Interesting. So that's our speed of light - our theoretical maximum :)
You kind of asking questions like.. "Do your parents hold you back from growing? " I guess, yeah, sometimes. But may be you forget without your parents you wouldn't be here in the first place. So if your parents disappear, may be there's a high chance nobody cares about you anymore.
That's a pretty good analogy actually. I suppose it depends on what age your parents disappear, and now much you've achieved, hence your ability to stand alone and succeed, afterwards. Parents all do kind of disappear eventually :)
True. Yeah, what you mentioned that parents disappear eventually. That's very true, but as you can see.. parents don't really disappear, they live through you, they pass the good and bad into you.. And not all kids can grow up to be successful like a successful parents, not all kids can grow up to be bad like a bad parents either. So, what I believe is to not diss a parent who helped you grow, but as a kid you should learn and also try to create your own identity. And who knows, you may surpass your parents.. but for sure not by dissing your parents, rather because of your own unique quality, that will make your parents and you look good. However, yeah, bad parents and bad parenting need to be avoided too (but that's exception)!
That's a pretty good analogy actually. I suppose it depends on what age your parents disappear, and now much you've achieved, hence your ability to stand alone and succeed, afterwards. Parents all do kind of disappear eventually :)