Relentless Slide vs. BTC


#327

of course it does.


#328

Market is pretty much BTC vs fiat and BTC vs altcoins.
Can u show me one ADA/USD chat out there? There is one ADA/USDT wich is since 0.90 or so and its irrelevant


#329

I also thought this, but I am beginning to look at it different since I realized there are fiat to altcoin exchanges and some parts of the world do not have to involve BTC in the trade, in fact the pair with the most volume for Cardano is ADA/KRW not ADA/BTC - which say’s alot for the price of ADA, who knows how many of those traders on upbit even know about BTC?


#330

Well yes thats the case for most of the crypto, i guess this is how koreans trade the most (vs. KRW). Overall market is still heavy BTC dependant, i am pretty sure this will change in future when market get much much bigger, so alts get more independant. You can see how easy u can pump and dump the price on BTC 10-20% per day is really violent, what about alts with 10 times less market cap. With that in mind untill BTC have such influence in the market i cant think alts/ fiat pairing is relevant


#331

coinnest is another site that has fiat to ADA pair (KRW/ADA)…their volume is not even close to Upbit though…


#332

But this is what I am talking about, it is a fiat pair and many people are entering into crypto trading without recognizing the strong hold that BTC has had on the space, crypto market sentiment is still very important but it is not centered on BTC or any specific crypto.


#333

Somebody put a buy wall in Binance…ADA/BTC
Capture


#334

I was wondering what was happening.


#335

Trying to drive the price up?..:thinking:…never mind…wall gone


#336

Still pretty cool to watch at 2328 sats right now.


#337

Well when BTC is crashing the maket is also crashing, that didnt happen with BCC or some other coin crash, also biggest traders trade alts just to increase their btc amount, just because its recognised as store of value. Personally i dont like that state but thats how it is, objectively there are only few coins that offer real product (to be considered some kind of value)


#338

We are still on the bottom side of the 6 month trend line for BTC. I expect BTC to go up for no apparent reason again. This saddens me as I hope it crashes so I can get an amazing deal on more ADA.


#339

I think the bottom is in … and yes I said that so it will go lower


#340

I know that feel. :rofl:


#342

It was sometime in the evening…do not remember the actual time


#343

I think it will only pick up after the staking process begins. So I’m banking it will go to lower lows than we’ve known so far.


#344

It depends on the reason you have for keeping tabs. If your reason is purely trading with in the market then yes the btc paring takes extreme precedence. However if you simply want to buy low and hold on, which seems to be most people here, then the USD price is extremely relevant. I Think you will also see that btc trading is swung somewhat by the fiat price especially when it seem ADA is trying to rise out of the muck since its levelled off against btc. That is because buy ins are as stated before trying to gage the usd price for obvious reasons… BTC pair is not as relevant if a large portion of your market is buy ins for long term holds. just my 2 lovelaces


#345

There must be some event causing this sell off


#346

Might be the google bs, if half of the traders are mainstream adopters than the google ban of ICO marketing would play a big part on crypto, buy the dip cause it is not getting cheaper to mine bitcoin and every crypto is tied to its price, miners are not going to sell off just cause google wont promote tokens.


#347

What do you think of regulation? Positive or negative? It’s overall impact?