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/biz/ - Business & Finance

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File: 114 KB, 612x491, btc-price.png [View same] [iqdb] [saucenao] [google]
19366768 No.19366768 [Reply] [Original]

Brainlet here.
Why do altcoin/fiat prices movements mirror btc price so damn closely?

>> No.19366777

>>19366768
because there is no on off ramps for most alts

>> No.19367330
File: 162 KB, 794x555, 1590433407915.png [View same] [iqdb] [saucenao] [google]
19367330

>>19366768
Because it's all on the same path to 0

>> No.19367721

>>19366777
You mean I can't liquidate most alts to fiat, and vice versa, without btc?
But I can use tether for that, right? Most alts can be traded to/from tether. That, in theory, should be their direct connection to fiat, bypassing bitcoin's prices.
No?

>> No.19367893

>>19367721
Tether is tradable with ETH, BTC, and a few other biggies.
Most smaller altcoins can only be tradable to ETH.
Although there are direct trades between Tether and shitcoins, Tether is still obtained mainly by trading it to ETH/BTC.
ETH and BTC are closely related because many investors are swapping between the two.
So, everything still leads to BTC.

>> No.19367999
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19367999

>>19367893
kty