Why is all the big cryptos pegged almost exactly to each other?

in #bitcoin • 6 years ago

I find the large cap crypto currencies suspiciously similar in price action. So I overlaid the Bitcoin price chart (blue line) on top of Etherium, Litecoin, Bitcoin Cash and Ripple. Guess what, they are almost identical!
Am I missing something here? Am I not using the tools correctly or something? Or is this simply what whale bot price manipulation look like?
What do you think?

Here are the graphs.

Etherium
Etherium.png

Litecoin
ltc.png

Bitcoin Cash
bch.png

Ripple
ripple.png

#money #cryptocurrency #blockchain #altcoins
6 years ago in #bitcoin by
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     6 years ago 

    Good point there.. although I'm not that good in analysing market charts :P What is your opinion then?

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     6 years ago 

    ⚡️If bitcoin falls it usually brings most of the market down with it.there is a strong correlation between bitcoin and other top coins eth ltc bch. But when bitcoin moons🚀 (Gos up 10%-20%)in a day it usually leaves all other coins eating its dust!💨⚡️

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     6 years ago 

    True. That's why I sold most of my alts quite some time ago. They get punished when BTC goes up and when BTC goes down. So in this current market they just can't win.

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