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any explanation why the price is so closely coupled?
by singularity2001 9y ago
any explanation why the price is so closely coupled?
- chatmasta 9y agoProbably a few things: 1) Largest mining operations are mining multiple currencies 2) The initial "whales" of ethereum were BTC early adopters diversifying holdings In general it seems the price of BTC is almost always a proxy for the rest of crypto, most likely because any crypto portfolio has a significant amount of BTC in it.
- JonnyNova 9y agoFaith in cryptos in general is founded on BTC. Also, almost all alt-coins are priced in BTC.