Bitcoin Forum

hey,

so i`m looking at coinmarketcap and in the last 7 days i think that 90% of the altcoins lists there are going up.

why is that? btc price is basically around 1000$ as always...

Yeah, i was thinking about the same thing. Lots of altcoins, just going up 10, 20, even more % each day.

I think there is a lot of manipulation, it started at the end of march and since then a lot of coins are overbought...

We can see some starting falling.

honestly, i think a big part of it is new people entering the altcoin market. because many coins look undervalued (less than $5), i believe new people are jumping in because they missed their opportunity with BTC, hoping there's a repeat.

Altcoin has taken attention to people and especially to traders which is a perfect way to earn money and at the same time to lose too as it is very risky.

One of the reason is that people are on holiday because of the "Easter 2017" and have more time to pump the exchange rate of the altcoins.

The main reason i think for the recent alt coin rally is because of the uncertainty behind bitcoin and that has shifted the focus of big whales to the alt coin market and so is the reason you were seeing a big rally in almost all of the alt coins in the market.Normally we used to see some rally every year but now the amount of alt coins has increased a lot from the past and still we were able to see a lot of manipulation when it comes to the price.

Because altcoin is the easiest way for the whale to grab more profit for his pouch, Just give a little pump and mopre newbies will panic and try to get in on the pump and the whale can dump it anytime.

Also keep in mind that Market capacity is growing, that means new investments, new people, new interests all that makes price jump up and down.

Just think, stock exchange has turnover of ~70 trillion, FX exchange turnover ~ 5.2 trillion a day.
Crypto currency market capacity is 28 (approaching 29) billion, it is a ridiculous amount for market like that, its only ~0.5% of daily FX turnover.

Feel yourself like you buying Apple Inc. shares back in 80s, but its not 80s anymore.

I have to agree with this. In my case,  when btc hit 1500AUD I offloaded 50% of mine and bought a shitload of litecoin @ 5AUD,  which has since moved up to 16AUD,  possibly moving up to 50 soon.

Although I'll hold half of my bitcoin trading long, I think the btc value is too high for smaller Traders to be able to afford to make any significant profits. However altcoins are affordable and in my case I think litecoins are the next best long investment, while it's evident others are backing many other alts also.

Bitcoin is flat at the moment and traders use their bitcoin to pump altcoins in hope of earning more bitcoin for themselves. As some altcoins get pumped to ridiculous levels, people start to look at cheap altcoins for the incoming pump. This is the reason why almost all the altcoins are getting pumped. It will reach a level where the whales have made enough, then they will dump all their altcoins and get back to bitcoin again. This will cause the incoming altcoin crash.

first is they feel btc not profitable or
this is not a good timing to trade then turn to trading altcoin.

They can easily pump altcoin.

When their btc trade no have a big margin, they will turn their capital partial to altcoin.

Altcoin will increase value due to high volume.

Some favourite coin let them confidence to trade too.

Don't forget, most of trade is short trade so which coin can give big movement will attract big player.

Because BTC is just famous, but basically crap. Transaction fees are exploding with 1200% increase per year in order to stop people from doing transactions, because BTC can only handle 7 per second.
There is simply no future at the moment. Why would someone keep holding on to such a thing, when there are other coins which are many orders of magnitude faster, and cheaper.

It's the whole purpose, it is supposed to be used. Soon BTC will be beyond reach for most transactions.

True story.

Yes i think the same most of the trades on poloneix in usdt pairs which mean these investors are barnd new , and some of them sold thier btc to usd and are buying alts with these profits, btc Etf news make the cryptocurrency world famous and many investor got interested in that market.

I am one of the new traders in the market, the altcoin market is now big enough and diverse enough that for a casual trader like myself it is both exciting to trade and is always something I wanted to learn how to do. Altcoins are just as risky as penny stocks, but much more accessible not to mention far less costly in fees. I suspect there are many people like myself participating in the market.

Also a lot of people have found success in coins and think some of the coins will jump in value and no its easy to pump altcoins. Don't need too much btc. Also with bitcoin price being stable it brings value to pumping altcoins. Don't forget many altcoins do have real world applications