Bitcoin Forum

We all knew that bitcoin broke the ATH of $1200 and its now $1300

Based on some philosophy people mentioned that when Btc raise, most of the alts drop

But look at the top 20 coins in cmc

Dash
Eth
Ripple
Monero
And even Doge
DOGE GROW 18%

Any particular reason?

that "philosophy" has always been an speculation. and speculations can be wrong, they never work 100%, if they were working that way, those who speculated then would have been multi-millionaires in a day or so.
and when it comes to speculating about altcoin market which is fake and pump and dump, you can't be certain about anything. one day you see everything moving logically and make decisions based on that, the other day you see all logic is broken and things are moving in weird directions.
the only thing we can do is to hope for the best and catching the ride before it ends and getting off before it ends too.

Back when I first started hearing the "alt coins drop in price when BTC rises" stuff, it was after the first BTC pump. People would take money out of ALTs to put into BTC. A year after BTC reached it's first all time high, it was down around the 220 mark and stayed around that level (220-300 or so) for pretty much all of 2015. I think people learned their lesson that diversifying is a far better idea.

I think that now we have a few top altcoins that can stand on their own two feet and people are looking for the next new thing and taking certain alts seriously now.

Nothing is wrong. The bull market of crypto officially started few months ago, new money is pouring in. The new money are looking for undervalued stock, chasing only Bitcoin which is in the middle of the major controversy is plain stupid.

When bitcoin's price rises, altcoins latch on to it's market's bullish mood. Unless there have been bad news for a specific one, it's safe to expect that a bullish mood in bitcoin markets translates into an exaggerated price rise for most altcoins.

I think it is just fluctuating of price, i don't see there are wrong with it, even all of digital currencies increasing
 that is growing of digital currencies on this era,
there are not strange with increasing of price digital currencies because of all of developers digital currencies
making innovations in every time for make better.

Historically when BTC went up then alts took a dive and vice versa. But it seems to me when BTC increases a lot in value, it breaks out of this relationship and takes all the alts with it.

Probably when BTC only goes up a bit, people sell their alts, turning them into BTC and/or FIAT. But when BTC goes up a lot, new people are getting lured into the crypto scene and start buying all kinds of coins hoping they would increase the same as bitcoin. That's my theory at least.

maybe because again ETF is being reviewed again, people are hopeful for it. its almost clear it won't be approved but investors are hopeful. after all if its not approved, they can still dump back. thats the good thing cryptocurrency trading.

the rise of alts is maybe because its being bought when it dip.

BTC price has never been that high, and *its market share in crypto has never been that low: ~63.5%*.

I think that if there are bitcoin killers at work out there, they will have to hurry up, or they will be killing a dead corpse.

the liquidity in the crypto world simply exploded now, there many new investors, just look at the various ann, many new comers are investing in crypto and many don't know where to invest they throw their money blindly hoping that they can get a high return from their scamcoin that they buy

this..

A lot of new money incoming that allows btc and alts to raise at the same time. BTC is not the only game in town now and people want some altcoin pizza opportunities they missed out on with the elder brother.

I do think the MC value is over inflated though every new ICO that attracts a few million (from themselves mostly) adds another 100M MC

that's the big possibility mate those newcomers who doesn't know about those project that they are supporting can be trapped by this certain
movement, as we knew that whale can possibly make the price up to gather attention and attract investors then simply dumped down after
some new one buys the trap.

There are many reasons behind it, people are trying to learn how exactly altcoin works and making their way to altcoin trading. One more thing is we need another coin like bitcoin because we don't need a monopoly in this crypto world. That's why many admin people are depending on themselves to make their coin as independent from others.

there is nothing wrong, it has always been manipulation and pump and dump and it is still an ongoing situation, the pumpers have come back to altcoin scene once again to take a lot of money this year and then leave it as the market newbies lose their money and go into depression.

Dash: didn't even have a rise, it is more like a little bump, i would wait until there is a real rise at least about 15% then call it rise!

ETH: this is obviously a rise, unlike DASH. and that is a pump. the question should be "when it is going to end for me to get out" instead of "why"

XRP: i have no explanation for this rise to be honest!

Monero: is a come back from the bottom. mostly because of the steep drop and price reached the bottom. and besides it didn't have any real pump. it was a small rise. so XMR has a pump due.

DOGE: same as XRP, i have no freaking answer apart from PUMP. who even buys these two lol

https://s8.postimg.org/nmodd22xx/cashmoney.gif

Life is good when we see green

Sometimes The philosophy can be wrong, and i'm little bit surprise with this situation, my opinion many reason and factor with current situation e.g "Ripple Signs Up Another 10 Banks As Blockchain-Based Payments Grow Blockchain-related payments are efficiently entering the remittance market "
source : https://cointelegraph.com/news/ripple-signs-up-another-10-banks-as-blockchain-based-payments-grow

People now see that alt coin got potential to grow and it is more profitable to trade alt coin, so most of the trader now is searching for alt coin, that is why the price is going up, but it is good,with a lot of green alt coin we will see a good growth from alt coin

New coins, new tech and new money, all are in. BTC may be not the one choice.

Altcoins are the new hot thing. Like the dot com era of the 90s.
Tons of new money is flowing in because everyone is trying to get rich.  

Unfortunately most investors are just going to lose a lot of money because these coins will end up doing nothing but making the developers a quick buck. 
Lets see if any of these coins are still up in two years from now. That will be the real test.

only the strong alts will survive!!!

It is actually the same whole 2016 and now 2017. Sooner or latter bubble will burst. So think what you are holding. Is it something people will need?

a lot of money has came into altcoin market. and a large portion of this money belongs to people who have no idea what they are doing. they saw the good performance of last month or so and they want more thinking it will stay this way forever.
sure many of these alts will stay up and their dumping will take time and will be slow but eventually they will all get dumped. and my fear is that the same big amount of money that came in is going to make a panic exit and that is terrifying because the same green happy rise will turn into a big ass red dump before we can say "what's wrong..."

It's not just today, Bitcoin has crashed x3-x10 times vs most other coins in the last 2 months. Bitcoin development has stalled after bearded crazies took control over its github repository. There is a race which coin will replace bitcoin as leading cryptocurrency, and everyone tries to pick a winner and become an early adopter.

green is good for your eyesight  :D

the only reason is, 2017 is the year of superbull

Greater fool theory, nothing new.

It's new money. We saw the same thing in late 2013/early 2014. People got excited when bitcoin made new highs, but figured that they missed the boat, so they speculated on alts.

As usual, many answers from bitcoinist maximalist ...

They talk about ancient history. As if the past was always enough to analyze the present and the future.

A lot of altcoin are shit, it's true .. but there are also beautiful projects, and some will be there for a very long time .. Stop saying that new investors are stupid .. there are also smart people who Invest with intelligence in the new altcoins!

For you there will be in the future that the bitcoin .. In my humble opinion, it is an error of analysis. Your experience prevents you from having an objective analysis of the altcoins and the crypto money market.

There will be victors and losers. The bitcoin will definitely be a winner but not the only one ..

how much of these alt coins value are pure speculation? will they crash during btc's next exponential phase or will they crash before that when their whales decide to pop the bubbles and its time to sell

WRONG.

BTC strong hands are exiting.  Buying ALT turn native stakes.

This raises ALT volume.  And then drives up demand for BTC, because trade ;D

The math is simple.

But BTC-maximilist are dinosaurs.

There is no "why".

Recently, a rising tide has risen a lot of boats, so make hay while the sun shines.

The better question is:  do you buy more - or when to sell?

altcoin world and the pump is just started, it still a long long way before it burst. get something like ARK, Monero or Ripple now and have 5x your money. prevent etheriem at all cost.

Totally true but you can't predict and make every Prediction right or wrong by one factor .
This is reality that when the price of the bitcoin increases then the price of the altcoins drop but here you should also need to remember that the price of every coin ( whether bitcoin or altcoin ) depends upon the demand also , here you can see the example of the ripple coin , even with the increase in the price the ripple jump and goes down , that was only due to demand and news discussion about the bitcoin .So before to think about the price rise and down , we should study behind its publicity and demand reason  that why it got increase .

Theoretically it's true, if bitcoin is rising then alt will go down because we are using bitcoin as the comparison to buy, but if there are a lot of people buying those alt coins then the price will still go up, this year trading alt coin got a better profit than bitcoin, you see dash price is up more 5 times in few months and lite coin up more than 4 times in a month, so there are a lot of alt coin demands and that is making most of the alt got a green mark

What might also be the case is that traders are starting to figure out that diversification even within the crypto economy is a useful hedge against bitcoin's volatility. The market might have all coins under the same hood but many traders probably think that coins focusing on tech bitcoin falls behind on are diverse enough to not risk being too correlated with bitcoin. 

Well it's interesting that Bitfinex cutting off fiat deposits/withdrawals has coincided with what looks like price floors on a lot of these coins.  It makes sense since people need to move funds off the exchange.  I guess we'll have to wait for fiat to be re-enabled, and/or more info from Bitfinex on their situation, before we can say how much this is responsible for all the green.   

I have always found it interesting how BTC somewhat mimics the advancement of traditional currency, albeit at a much faster pace. It is almost similar to international currencies and their trade at this point in its own way. Ultimately BTC is such a central figure of all the cryptocurrencies that changes to it impact all the others, but if we have enough change in the others it could bounce back and impact BTC.

That means that is not the same money that is moving around from bitcoin to altcoins and vice versa that means new money is entering the market of cryptocurrencies and that is causing a bullish run on all the major coins, and of course this is good new to all of us.

Well, some people (iamnotback said it about ltc if I'm not mistaken) said the opposite. They maintained that bitcoin grows and other currencies tend to grow with it.
Perhaps one of the reasons for this is that as the btc price grows, people become more acquainted with cryptos in general and sometimes, as btc is already too expensive, they start buying other crypto-currencies. I think this theory is more right than the one you are talking about.
However, in a way, there is no strict connection between btc and other currencies, so abything can happen. Perhaps if something happens to btc other alts will drop, but the opposite might happen as well.