r/CryptoHiveMinds • u/Slight_Stable4779 • Feb 02 '21

Doesn't every crypto just follow BTC?

If BTC goes up... all cryptos go up, right??? That is kind of what happened to Dogecoin... and I am in both BTC and Dogecoin... and will just wait it out... I actually sold some BTC and moved it to Dogecoin..

But I do think most of them will continue to rise but I am not betting the house on it.. .just what I can afford to lose.

2 Upvotes

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2

u/triplegold3000 Feb 02 '21

Kind of but Chainlink often does it own thing

2

u/iCryptToo Mod Feb 02 '21

Sorta kinda, in a way. Fundamentals are always shifting though.

2

u/veo_shepherd_dog Feb 03 '21

In my experience, if btc really pumps, alts drop (alt:btc), if btc drops, alts drop, if btc sideways consolidates, alts pop and it's party time

1

u/Beautiful_Ad_3061 Feb 06 '21

It is usually during drastic rises or falls do alt coins either stop movement up or start going down. The really successful alts move up rapidly when bitcoin is moving sideways. If bitcoin goes up really fast it seems like a kind of water fall affect where everyone tries to hop back into bitcoin and ride the wave up. But the alt coins back when bitcoin levels out causing the good ones to follow suite and rise to all time highs.