[Crypto Q&A] Ethereum solely depends on Bitcoin for it's Bullish Movement.. Is this True?

Guest

No

Ethereum follows Bitcoin bullish movement just like other crypto but doesn't depend on it.

Ethereum not solely depends on Bitcoin for it's Bullish Movement Ethereum consensus algorithm is more competitive and realible than BTC. Future Ethereum demand and price will keep on increase, foreseen higher than BTC.

Misconception: Bitcoin and Ethereum are currencies, and should be judged against each other by how good they are at being money. The reality is that Bitcoin and Ethereum are both decentralized computation networks. They have each made engineering trade-offs that make them good for some use-cases and bad for others.

Bitcoin and Ethereum are Currencies, and should be judged by how good they are at being money. Reality: Bitcoin and Ethereum are cryptonetworks, and should be judged by the value each network is capable of producing. (BTC and ETH are currencies which are used to reward participation in the respective networks).

ICOs or DAICOs ICO or token sales can be made much effective with the help of Ethereum smart contract. It enhances the sale process, makes it more fair and transparent. Vitalik Butetrin recently announced that DAICO model is a combination of both DAO and ICO model. The DAICO variable called ‘tap’ is used along with DAICO smart contract by the development team in a DAICO model. The old ICO contract it starts with ‘contribution mode’ like the old ICO contracts where the investors were free to contribute Ether in compliance with the rules of the ICO. In the DAICO model, the ‘tap’ button decides the amount of ether the developer can withdraw per second from the contract and this withdrawal limit is decided by the DAICO contributors. This keeps a check on the developers as they get restricted on the withdrawal limit and thus unable to run with the whole contributed money. This is how Ethereum smart contract can be used to efficiently manage and scrutinize the ICOs.

Ethereum not solely depends on Bitcoin for it's Bullish Movement Ethereum consensus algorithm is more competitive and realible than BTC. Future Ethereum demand and price will keep on increase, foreseen higher than BTC.

Maybe no maybe yes

Everything correlates to Bitcoin, much like in the U.S. equity market, everything correlates to the U.S. dollar. Bitcoin is the largest store of wealth for the asset class, so everything is basically ‘pegged’ against its overall performance. It's an important distinction to make, and something people don't really understand or take the time to consider. When we see asset prices rise — i.e. ETH, we have to benchmark it against the broader index movement. Some parts the correlation is high in which Ethereum outperforms Bitcoin, in some parts it’s low as Ethereum drops hard against Bitcoin, while Bitcoin trends up against USD. It’s different in different parts.

nope, bitcoin price will not consider with ETH