Thanks first for the great post and generally the series. Makes very interesting work and lets you look deeper into the other world. Definitely worth a @ccf But still have a few questions about: What about the price increase after bitcoin halving with the other altcoins? Because you did say that they usually follow suit when bitcoin goes up. Did they also follow these massive increases after halving? And if so, always and in the same (percentage) amount? Even if, as with Ethereum, for example, it actually has a PoS procedure and is therefore not actually related?
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@RisingAktie Interesting and difficult question to answer. I honestly have no idea if altcoins even existed at the 1st bitcoin halving in November 2012. The earliest historical snapshot from Coinmarketcap is from late April 2013, and there are a whopping 6 altcoins listed there, of which only Litecoin should be known today https://coinmarketcap.com/historical/20130428/ (by the way, I myself had 3 of those 6 altcoins, Litecoin, Namecoin and Peercoin). So that leaves only the two most recent halvings for us to look at. At the 2nd halving in July 2016, there were already plenty of altcoins. Many of the top 15 coins at that time nobody knows anymore (e.g. The DAO, NEM, MaidSafeCoin, ...). But there are also exceptions like Ethereum, XRP, Litecoin, Dogecoin or Monero. See https://coinmarketcap.com/historical/20160703/ . If we compare the top 15 with today, we find that only Ethereum, XRP and Dogecoin have remained in the top 15. Even though the top 15 from July 2016 are no longer in the top 15, their prices have still performed strongly to date - assuming they are still getting any attention at all. For example, Litecoin from 4 USD to 100 USD, Monero from 2 USD to 176 USD or DASH from 7 USD to 90 USD. If we look at the prices one year after the 2nd halving - Bitcoin had increased from 650 USD to 2,500 USD at that time - we still see some old faces from 2016, but also significant changes in the top 15. All top 15 coins were able to increase their market capitalization significantly. For example, Dash from the 7 USD to 170 USD or Ethereum from 12 USD to 290 USD. Let's now take a look at the 3rd Halving in May 2020. Even before the Halving (https://coinmarketcap.com/historical/20200503/ ), the Top 15 changed significantly compared to 2016 / 2017 - and still looked significantly different than today. DASH had a value of 81 USD (rank 21) before halving, Litecoin of 48 USD (rank 7), Monero 62 USD (rank 4), Ethereum of 210 USD (rank 2). So, by and large, the altcoins have gone the bitcoin way: New ATH after 2nd halving, far from it before 3rd halving but still higher than before 2nd halving. If we jump to the present, many of the altcoins are above their pre-3rd halving price, so one could conclude that altcoins are getting dragged along by bitcoin after halving. In practice, however, this is a bit more complicated as the ranking of altcoins by market cap can and has changed in the past within a very short period of time. The only constant is Bitcoin ranking #1 by market cap.
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@RisingAktie ETH is still on Pow and the dependence of the other cryptocurrencies on bitcoin is measured in bitcoin dominance
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•@DonkeyInvestor thank you for the detailed response! If there were also a @ccf Mini Award for helpful comments, then you would have qualified directly😂🤝🏼@Europoor oh right, was already in the future where they wanted to change it somehow to PoS😂 What is the unit of measurement that you have just called. Is there for each individual coin some kind of gauge how much this is dependent on Bitcoin or how?
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@Europoor thanks, I was just about to shoot 👍@RisingAktie originally there was supposed to be @ccf for comments as well. But either that was never awarded or no one ever tagged a comment accordingly. @ccf how about it, does it still exist? Would be interested 😂
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