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Title: Will my altcoins increase in $ If Bitcoin Goes up Post by: nickenburg on February 26, 2016, 05:37:36 PM Hello I have a question.
Let's say I have a altcoin that is worth 10 sathoshi at the moment. But if Bitcoin goes to like 10000 dollar will it mean I can still trade the altcoin for 10 satoshi? Because the value of bitcoin would increase to 10000, but my altcoin didn't increase. But it is still worth more Because Bitcoin is worth more? I hope u understand my question. Title: Re: Will my altcoins increase in $ If Bitcoin Goes up Post by: americanpegasus on February 26, 2016, 05:47:26 PM The market will continue to reevaluate your altcoin in real time as Bitcoin rises.
If people feel the coin has merit, it may hold (or in extreme cases increase alongside) Bitcoin's rise in fiat terms. But the most likely case is the satoshi value of your alt will decline corresponding to Bitcoin's rise, as we saw happen when Monero went from 200k satoshi each to 100k satoshi each last year. We held a USD value of 40 to 50 cents but we couldn't match Bitcoin's awesome rise in price. Recently we've caught up, but it goes to show that holding an alt vs Bitcoin is a choice with possible consequences. Title: Re: Will my altcoins increase in $ If Bitcoin Goes up Post by: bathrobehero on February 26, 2016, 05:49:07 PM I could be wrong but I think small upside fluctuations in BTC price are usually cause altcoin prices to decrease probably because people are dumping their alts to cash out more in FIAT.
Conversely, bitcoin price drops usually cause people to invest into alts. But I think a massive price increase in BTC would also cause the alts to go way up because a massive price increase in BTC means increased value of the blockchain technology so BTC would bring all the alts up. Title: Re: Will my altcoins increase in $ If Bitcoin Goes up Post by: nickenburg on February 26, 2016, 05:57:48 PM Oke guys thanks that answers my questions.
So a lot of altcoins could also fall if bitcoin chooses to take over if it goes really high? And only the really good altcoins would remain left if i am right? The few good altcoins would be left and also ride on bitcoins success? Title: Re: Will my altcoins increase in $ If Bitcoin Goes up Post by: cryptohunter2 on February 26, 2016, 06:37:09 PM the bubble in BTC last time caused alts to sink for ages....then however the rise in alts was crazy even compared to that of BTC.
So if this repeats.... buy tons of cheap alts at the right time and become a millionaire. I would be a multi millionaire now had I sold my alts at the correct time and then cashed out of BTC. They are now worth - much much much less. Title: Re: Will my altcoins increase in $ If Bitcoin Goes up Post by: nickenburg on February 29, 2016, 02:38:11 PM the bubble in BTC last time caused alts to sink for ages....then however the rise in alts was crazy even compared to that of BTC. So if this repeats.... buy tons of cheap alts at the right time and become a millionaire. I would be a multi millionaire now had I sold my alts at the correct time and then cashed out of BTC. They are now worth - much much much less. Yeh exactly I have the same feeling that altcoins are a really good way to get Bitcoins. And there are a few new very interesting alt coins in development and on the way. Because when Bitcoin is going high everyone's attention goes to Bitcoin, and they will sell there altcoins to get Bitcoins. So that will make the price of the altcoin's drop, but if that happens again i remember litecoin did go up with Bitcoin. Do you think Ethereum will take that spot this time and rise with Bitcoin? Title: Re: Will my altcoins increase in $ If Bitcoin Goes up Post by: Kalder on February 29, 2016, 02:59:05 PM the bubble in BTC last time caused alts to sink for ages....then however the rise in alts was crazy even compared to that of BTC. So if this repeats.... buy tons of cheap alts at the right time and become a millionaire. I would be a multi millionaire now had I sold my alts at the correct time and then cashed out of BTC. They are now worth - much much much less. Do not buy cheap altcoins. Most of them are just scam coins. It is better to buy the more famous ones. |