- The entirety of the "value" of each coin has been lost on the market.
- It doesn't matter what is "special" about each coin. Speed of transactions, transaction fees, etc. It all goes out the window.
- Crypto has become simply a numbers game, and it doesn't matter which horse you bet on.
Sorry but you are looking way to short term, Offcourse they all follow the same pattern because it was because Bitcoin crashed. Highest volume of them are all traded in pairs with /BTC.
If you look further back you can clearly see this is a false statement.
let's take for example Ripple, Ethereum and Litecoin and their respective increase since march. Ethereum gained roughly x35 its value, Ripple x280 and Litecoin x90....
> Highest volume of them are all traded in pairs with /BTC
> If you look further back you can clearly see this is a false statement.
You must admit that this has become much more prevalent in the past couple of days, even before the correction yesterday. Just because it's a "new" pattern, doesn't mean it's not true.
> let's take for example Ripple
I'm not accounting for Ripple at all in this observation for a couple of reasons:
- The way its volume is structured is much different than these.
- It's not on Coinbase.
> since march
I've been around long enough to know that may as well be saying "10 years ago" in the crypto world.
It will be interesting to me to see how this plays out and if the pattern continues.