Explain this. Rigged?

Why is all coins following the same pattern?

Because they all follow BTC

Newfag detected

it's just one massive whale who withdraws and buys back in completely everytime. crypto is not distributed at all. that big guy has everyone by balls

Because they are mainly traided against bitcoint so there value follow bitcoin $ value

alts get the majority of their volume from BTC trading pairs so when bitcoin falls, alts lose value in USD as well. Fiat pairs for alts would fix this.

Why would they drop in price if BTC drops? $ is still $, doesn't matter if $10k is 1 BTC or 0.5 BTC.

damn, that's crazy

the only way to buy alts is thru btc or eth.
there's more volume on btc so I use btc.

the only way to sell into fiat is through btc or eth.

it's like the petro dollar in that its kept artificially high because you have to trade oil in it.

Bro..
I buy $10k worth of Bitcoin
I have now, lets say, 1 BTC
I buy XLM for 10k
BTC drops to 8k
XLM is still 10k worth
I sell for BTC
I now have 1.25 BTC ($10k)
I sell for usd
I recieve $10k

Do you even know math?

you're mentally retarded. don't invest in crypto, you'll lose it all

if an alt is trading at 5k sats and btc value halves, it will still be trading at 5k sats but suddenly lose half it's value in USD causing people to panic sell

maphffssfsssss

>btc drops 20%
>xlm holds at 0%
name one time in crypto history this has ever been the case

No, you buy XLM for 1 BTC, not 10k, not sure if bait. If BTC (which has a USD pair so you can actually say it's worth 8k) falls to 8k, your xlm is still worth 1 BTC...

fucking retard, xlm drops like 20 cents and btc drops like 10k.

1 btc is $10k retard. it's the same as this paper thing is worth $1. its the same thing

It will be soon when we have better fiat gateways and trading pairs

...

but that is not the case, every x/btc pair went down like x/$ or btc/$

basically yes its rigged

Whales cashing out and buying in, bots copying each other

>tfw posting in ebin brainlet thread

only if people used them . . .

So you really dont understand that BTC is paired to usd and all alts paired to BTC. Hence if btc price changes, alt usd value changes. You incredible mongs on here. Veeky Forums never change please.

not really

eth still follows btc's patterns

Then why don't you assholes explain why ETH also follows BTC when it has plenty fiat pairs. Just by skimming the market for ETH, I can see that majority of the volume comes from USD/USDT/KRW. So why does it still follow BTC?

Because 99.9% of the coins that exist are worthless pajeetcoins, so if one of them goes up in price, every other coin has to follow since it's all speculation anyways.

Because the fucking boomers relate everything back to BTC.

Eth only follows BTC short-term, long-term ETH is definitely not following BTC

Because whales are manipulating the prices using bots for wash trading.

Remember all that FUD a couple months ago about not being able to cash out and shit? This is the whales "slowly" transferring all their bags to wall street and setting up the prices for them.

So BTC is 1, ETH is 0.1 XRP is 0.01 etc etc

I guess wallies love them some nice round numbers or something