Bitcoin Forum

hey guys.
I really appreciate it if anyone tell me why BTC is rising, and why the altcoins are being dumped. how are they connected? is the btc mining difficulty augmenting a factor?
should I abandon the altcoins for now?
thanks ;)

Probably it is the upcoming halving. Just like  the event of litecoin halving last year. It is normal. Bitcoin and altcoin's price movement are in the two directions.

This especially and the selling off of bitcoin in droves. It just hit $470 on my price ticker and should be $475 by morning if it keeps up like this.

It's a difficult question to answer. Bitcoin transitioned from being an asset used to buy things to an investment opportunity. Traders populate the exchanges, they see Bitcoin as a mean to gain profit, I don't think this a bad thing, but I do believe that this makes the price movements erratic, more volatile, and sometimes it doesn't even track or follow the fundamentals (news about the Bitcoin ecosystem, core protocol, bad PR, etc).
It is also sad to see people holding onto bitcoins as if by using it they are losing money.
If you really want to support the bitcoin movement, buy some, save a part, and start spending it to buy things or pay for services.

It's impossible to actually nail down exactly what has caused this recent significant growth in price. But I personally preferred the stability

you should have asked why bitcoin price was stable, the rise was inevitable and that is why it is happening. and as for altcoins, which one do you mean is getting dumped?

it is a different reason for different coins, for example eth which has a lot of hype and was the biggest for the last couple of months is being dumped because it was a pump and dump coin and even the developers are dumping and getting out.

as for others, you have to say which one you means so i can help you figure it out.

combinations of good news, like the upcomign segwit, the upcoming bitcoin payment for steam, the halving etc, it's all about the hype for soemthing that make you exited, this is true everyhwere, trading is not excluded

but i guess only the fish do trade with emotions...

Im waiting for the bitcoin payment in steam, And also bitcoin halving,,

Low volume rise might be caused by a lack of bitcoins being sent to sell by miners as they are anticipating a price rise with the halving.

A combo of this, development on the network, good news.

Alts get dumped every time BTC goes up. Simple as that... People want to take gains on BTC so sell out of alts. True traders buy more alts when these dumps happen.

It's the block halving that makes people buy some quick coins as they see the price is still sitting below $500 at the moment. Altcoins have had enough shine last months, especially ETH. People cash them out as they want to hold Bitcoin.

To pinpoint an exact reason would be hard, probably the halving coming up, news of Steam and I think Bitstamp just got their EU wide license so all of this could be the reasoning.

As far as the altcoins I would imagine that people would be dumping their coins to get some bitcoin ahead of the halving.

One probable reason would be that people are starting to hoard in bitcoins because of the stigma that bitcoin value is expected to go up by the time of the halving.
Another is because of bitcoins being integrated in many businesses and platforms in the world.

Bitcoin increased the possibility for halving effect and why altcoins dump? because people move to trade bitcoin, when bitcoin prices are rising. IMO

I think it will keep going up, to hit 500$ and more. which mean I should get rid of my Altcoins and minimize my losses. and wait for the bitcoin rise to stabilize. then buy Altcoins when they are cheaper and wait for them to hit a high price.

Ehhhh, don't know about this.  I do think there's a relationship between btc and all the shitcoins but I suspect that it's not a simple one.  And I'm not convinced the price movement of late has anything to do with the halving.  If movement happens before the event, it is being priced in.  And who's to say that that hasn't already happened??

I have the same way of thinking, holding bitcoin would give more profits, in a matter fact it is not sad, if i had bought BTC when the price was 409$, and now the price is 470$ I would gain more profits, I do agree with them. but who am I to say that you are not right I'm just a Newbie. btw I don't think I'm going to spend any :P not yet anyway.
but  i really don't get why the Altcoins price is drooping.

Thought I saw it hit $477. But now it is back down to $466 when I sold some. It can only mean that it is not at a stable price yet, just wait for a week or until April is done.

so ETH is going down for good.  ???
so many coins are going down not just ETH btw, Maidsade for exemple, according to the chart. I don't know if the coin is being dumped. but it's going down.
and before that FCT had huge fall.

Well for many, altcoins are simply quick ways to get fast profits and exchange to BTC. Say u buy xcoin for 0.000001 each with 0.5 BTC, a pump by fakers to 0.0000015 would get u a profit of 0.25. With the halfing near, people are dumping enmass to get back into BTC before halfing and so they can get cheap altcoins after that for the repeated cycle

trading needs research, I agree. but trading now is hard, with all these unpredictable prices.

that's the idea I guess. buy more when it's cheep.

Ummmm never thought of buying some more alts when BTC goes up. I guess that I will try to apply that. Thanks.

What's causing the pump?
Speculation my friend. :P

the trust in bitcoin has returned a bit since segwit and other developments show that scaling is not an issue.

Also, there is some FOMO (fear of missing out) with people who held altcoins, they expect bitcoin to rise because of the halving (or because of people anticipating a pump before or after the halving) and want to be on the rocket before it takes off, assuming it does take off.

and probably other reasons.

I also think the SegWit is the cause of the recent mini pump. Although that price rise is short lived. It proves people are still watching.

The Etherueum and the bitcoin is a good trading pair. When the Etheruem is high, you sell for bitcoin, vice versa.