How are so many coins so locked in together?

[meegwell]

I totally understand the coins being correlated and the whole or majority of the market moving the same direction.  What I can’t wrap my head around is the precision that they move together.  In the last hour interval there is a bump up with some buy volume at about 12:08 or so....(looking at coin market cap hour chart). Ripple hit .86 or so then 12:07-12:09 popped up to .89-.90.  Every major coin had this same dip and pop in those same few minutes.  Is this just day traders watching bitcoin and following its lead?  It can’t be independent price signals because the prices are obviously way different.   Just don’t fully get this strong, minute by minute correlation.

[Trickery]

"You may have a point there"

[LuTebow]

9 minutes ago, meegwell said:

I totally understand the coins being correlated and the whole or majority of the market moving the same direction.  What I can’t wrap my head around is the precision that they move together.  In the last hour interval there is a bump up with some buy volume at about 12:08 or so....(looking at coin market cap hour chart). Ripple hit .86 or so then 12:07-12:09 popped up to .89-.90.  Every major coin had this same dip and pop in those same few minutes.  Is this just day traders watching bitcoin and following its lead?  It can’t be independent price signals because the prices are obviously way different.   Just don’t fully get this strong, minute by minute correlation.

bots on bots?

[meegwell]

1 minute ago, LuTebow said:

bots on bots?

Is that an “adult movie”?

Edited February 2, 2018 by meegwell

[RippleIsTheFuture]

It does look fishy and raises about a thousand questions for me. 

[xrpsailor1]

16 minutes ago, meegwell said:

I totally understand the coins being correlated and the whole or majority of the market moving the same direction.  What I can’t wrap my head around is the precision that they move together.  In the last hour interval there is a bump up with some buy volume at about 12:08 or so....(looking at coin market cap hour chart). Ripple hit .86 or so then 12:07-12:09 popped up to .89-.90.  Every major coin had this same dip and pop in those same few minutes.  Is this just day traders watching bitcoin and following its lead?  It can’t be independent price signals because the prices are obviously way different.   Just don’t fully get this strong, minute by minute correlation.

tether ... tether scandal affects the entire market

[elias]

1 minute ago, xrpsailor1 said:

tether ... tether scandal affects the entire market

I heard it was Trump.

[RippleGuy2007]

Didn't we bounce back 70 points last time this happened!

[PUMA]

Makes no sense to me either. If you watch the 1 minute candles it is uncanny how the top coins move in step together. Weird. It's like everyone is dialed in to freeconferencecall.com and the head cheese is giving orders to sell,sell,sell and then buy. 

[elias]

Just now, PUMA said:

Makes no sense to me either. If you watch the 1 minute candles it is uncanny how the top coins move in step together. Weird. It's like everyone is dialed in to freeconferencecall.com and the head cheese is giving orders to sell,sell,sell and then buy. 

Then the bot herding bots are set to work.

[prez_zerp]

I've been thinking about the same thing.  It has to be the bots. 

[meegwell]

Glad I’m not alone here ?

[Guest]

It has to do with pairs. In foreign exchange or fiat, USD gets traded for JPY. Or GBP for EUR, or KRW for AUD. The liquidity between the global flow here is the zenith. Everyday people, spending everyday, everywhere in the globe. In our infancy we prey to the fractal BTC.

[meegwell]

1 hour ago, 7Bs said:

It has to do with pairs. In foreign exchange or fiat, USD gets traded for JPY. Or GBP for EUR, or KRW for AUD. The liquidity between the global flow here is the zenith. Everyday people, spending everyday, everywhere in the globe. In our infancy we prey to the fractal BTC.

Still doesn’t click.  I get pairs.  Why would the top 20 coins...priced thousands apart...all move lock in step in the same direction minute by minute....the important part here is the “minute by minute”.  We are not just talking about generally or even highly correlated market instruments.

[SamTheMan]

We are probably all invested in the most manipulated market history known to mankind.

There will be hollywood action/thriller movies about cryptocurrency in the future.

According to news & media, this was the worst BTC sell off in 4 years?

HODL tight, everyone here knows somebody that has a portfolio in the negative already.

You only lose this game if you sell lower than you bought for.