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RE: Friday: A Red Day For Cryptos
I don't understand why altcoins price are related to bitcoin, it should be to usd directly like bitcoin so we have more stability of price, if anyone can explain please.
Almost all altcoins are traded in pairs with Bitcoin, not with USD. So their base value is primarily in Bitcoin and from there is translated into fiat. Once altcoins will reach a broader market, more exchanges will feel comfortable to list direct pairs to fiat, like Steem/USD, etc.
Thanks for your answer, also I think it has to be related to bitcoin because we only can buy bitcoins directly with fiat now.