Crypto spikes/drops correlated??

Google / Eng maryjane
Dec 1, 2017 19 Comments

I'm a noob crypto investor with a modest portfolio on Coinbase and I noticed that BTC, ETH and even Litecoin seem to move in lock-step. The graph ebbs/flows are nearly identical and that makes me wonder:

1. Are the dips correlated to Coinbase outages? There were a number of performance issues that we're fixed as a part of scheduled/unscheduled maintenance

2. Is coin diversification amongst the major ones even a thing? I mean what's the point of variety if they're all going to rise and fall together?

I could be off about this but just wanted to see if this resonates with other ppls observations.

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TOP 19 Comments
  • Tinder / Eng
    ix5555333

    Tinder Eng

    PRE
    Microsoft
    ix5555333more
    The dip is just a correction. Diversification is good cause they don't always fall and rise together.

    Also do not keep your coins on an exchange like coinbase, get a crypto currency wallet and store in there.
    Dec 1, 2017 9
    • GoFundMe / Eng slyslacker
      If you don't control your private keys, you don't own your coins
      Dec 1, 2017
    • Microsoft / Product
      Karsa

      Microsoft Product

      PRE
      startups
      Karsamore
      I keep mine in coinbase too... What wallet should I be using?
      Dec 1, 2017
    • New ADB
      I use Exodus and Nano Ledger to keep the majority off Coinbase
      Dec 1, 2017
    • Starbucks / Eng Zxk342
      Second ADB if you are holding them
      Longer term. More than a week. Follow ADBs advice of storing them off of coinbase.
      Dec 2, 2017
    • Microsoft / Product
      Karsa

      Microsoft Product

      PRE
      startups
      Karsamore
      So exodus or nanoledger? Why both?
      Dec 2, 2017
  • Google gglr
    Stop shortening to "crypto". You're an engineer, you should know better.
    Dec 1, 2017 3
    • Verathon / Eng
      naw

      Verathon Eng

      BIO
      💅 Seattle
      nawmore
      Lol you just said that on my thread
      Dec 1, 2017
    • Facebook vso
      Get used to it. It will be much more common.
      Dec 1, 2017
    • Starbucks / Eng Zxk342
      Ok Crip 💙
      Dec 1, 2017
  • Verathon / Eng
    naw

    Verathon Eng

    BIO
    💅 Seattle
    nawmore
    Highly unlikely that coinbase goes down and you lose your coins.
    Dec 1, 2017 2
    • Airbnb Csongsor
      Not losing your coins. But coinbase goes down as in down time and you can’t trade
      Dec 1, 2017
    • Verathon / Eng
      naw

      Verathon Eng

      BIO
      💅 Seattle
      nawmore
      True
      Dec 1, 2017
  • VMware / Sales dgPu18
    It's currency speculation. The crypto part of the name is the least relevant.
    Dec 2, 2017 0
  • Starbucks / Eng Zxk342
    The dips aren’t related to coinbase outages.

    Like any market the various coins are interrelated so they can effect each other with bitcoin being the trendsetter. Much like during the auto industry meltdown a while ago were all auto manufacturers were impacted valuation wise even though they all weren’t in a financial crisis.

    However even the the overall trend follow bitcoin the other coins do have their own fluctuations that are independent. For example ETH was stalled at around $300 for a few days and only budged when BTC really took off last week.

    They can also be impacted if people sell of coin in order to invest in BTC (usually happens when it spikes quickly)
    Dec 1, 2017 0

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