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/biz/ - Business & Finance

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7438235 No.7438235 [Reply] [Original]

the bitcoin swings are just fucking the market. every single coin is the same damn chart.

>> No.7438285

>>7438235
This has nothing to do with bitcoin. People are exiting and rejoining the crypto market as a whole. Retard.

>> No.7438319
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7438319

>>7438285
>rejoining

>> No.7438464

>>7438235
Against what currency is it declining?

>> No.7438545

>>7438235
Learn some economics. Assets are usually very correlated when doing poorly. This always happens. It's not bitcoins fault, as antique as it may be.

>> No.7438618

>>7438464
USD, but 95% of them only trade in BTC or ETH, so the USD amount is basicly just an estimation taking into the current price of bitcoin.

I think i get it now.

coinmarketcap needs to stop giving the graphs in USD. they're doing harm to the market, as a dip in bitcoin causes a dip in USD value for all the coins, even though they don't even trade for USD. as a result, market sentiment is heavily influenced by bitcoin price even though bitcoin might as well be completely irrelevant. that's what's causing the major swings.

>> No.7438983

The problem is every other crypto is bought through bitcoin. If people were buying cryptos directly with fiat instead of going over bitcoin you wouldn't have it that linked.

>> No.7439045

>>7438983
This, thankfully few exchanges aim to do that in the future. I hope all exchanges add a fiat gateway so BTC would be useless trash.

>> No.7439204

>>7437891
Was there any time announcement?

Also kinda wondering why it's like this in the first place? I get it that pure crypto exchanges want to skip the fiat issues but what's holding them back to offer any crypto for fiat just like they did with btc? Don't want customers trying to cashback on them when they find the new coins to be shitcoins or what?

>> No.7439268
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7439268

>>7438983
>tfw REQUEST could make that happen

>> No.7439340

Bots won’t allow a decoupling to take place since everything is based on btc price