Why is the price not rising compared to the original currency (why do all currencies follow the trend of Bitcoin)
According to btcmanager, why does the price of the original currency not rise? Because it does not use other tokens Since 2014, it has been present in the Bitcoin community, and in recent years, due to its technological characteristics, ecological development, and increasing controversies within the community, many people believe that this is a “scam”. Therefore, when people say, ‘Bitcoin is not a security’, it is because it is a legal currency or commodity in a sense; If we mislead the public with this statement, they will choose to give up this asset
Why do all the coins follow the trend of Bitcoin
Editor’s Note: This article is from Wind and fire wheels Community (ID: FHBT18), written by Peipei, and reproduced by Odaily Planet Daily with authorization Hello everyone! I am Pepe, and I have recently posted two tweets and screenshots in the group:
One is the trend of Bitcoin dropping from 47000 points to nearly 23000 points now; The other is that Ethereum has been constantly breaking new historical highs since its collapse at the end of last year, and has now rebounded to above 31000. This indicates that the market is still highly anticipated. However, there is an obvious problem here, which is that many currencies that followed the trend of the market before did not have much room for significant growth or appreciation, and many people also think this is a relatively scary situation, so what? In fact, many people may not care about the price, they just want to use these coins as a hedge, because most of the news you see is often related to Bitcoin. For example, some articles about “Ethereum 2.0” have appeared on a website, and some articles have not even mentioned items on defi. And for Bitcoin, that’s all. Another thing we can see is that the price of Ethereum fluctuates extremely sharply this year. Just last Friday, after the price of Bitcoin broke through 10000 dollars, it was in a state of lateral fluctuation until yesterday afternoon. But after that, it didn’t rise much, which means the downward trend hasn’t ended yet, but rather the entire market is howling. If you ask, why are all coins following Bitcoin? The answer may be as follows: 1. Although the price of Bitcoin has recently decreased, it has not directly affected other tokens, such as ETH and BCH. If we follow this rhythm, BTC may continue to maintain its strength in the short term. But in the long run, it will also be more powerful than other mainstream currencies. (I think there is a reason for this)
Thirdly, based on some recent news and data in the market, Bitcoin is basically not affected, and it will take some time to regain its original momentum.
. 4. At present, Litecoin has the largest circulation in the market, with a total supply of 21 million pieces, accounting for about 50% of the total. According to Coinmarketcap, as of the first 24 hours today, the cumulative transaction volume of Litecoin has exceeded 10 billion dollars
5. In addition, there are two noteworthy issues:
1. Litecoin itself is a niche asset category, not a financial investment product type. Its value lies in enabling more users to understand the technology and application direction behind Cryptocurrency. Except for Bitcoin, almost all blockchain technologies will exist in it. With the rise of the digital world, people have found that Bitcoin can not only become a part of payment systems, but more importantly, it is a choice as a tool to combat inflation Secondly, as the world’s largest digital currency, Bitcoin is undoubtedly one of the most influential links. It can be said to be the most successful digital gold to date, with its market value second only to the shares of the US stock market, crude oil, and commodity futures exchanges.
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