Bitcoin Forum

I remember a day where BTC was king and all altcoins were lousy. They would all fail soon, and only BTC would survive. The market capitalizations of all altcoins was less than a tenth of BTC's. Times have changed! Today, the market capitalizations of all altcoins is more than 40% of BTC's.

Obviously, there is more and more money going into cryptocurrencies. BTC is still leading by far. BTC also remains the one and only crypto you can actually use to buy things, and it's the easiest to buy with a bank transfer. But it needs to get better quick. Investors now have a wide choice to put their money in, and that shows.

https://i.imgur.com/lZMVi9D.png

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The total capitalization increased 400-500% in ~2 months. If this isn't a bubble, then I don't know what is. Imagine a crazy scenario where the ETF appeal gets approved in May.

The alt coin bubble is going to end badly for people. I just hope that money flows into Bitcoin  :D

Bitcoin straight up $2000 at least. Probably a lot more.
That would be good :), next step of bubble.

I hope that's the case, too, and historically it seems to be the pattern.  Makes me wonder where all this money is coming from.  Could it be cheap margin money because of rock bottom interest rates?  Hmmm...

Just wait, the shitcoin bubble will soon pop.  There isn't any way in hell prices can stay as high as they are.  It's going to work out favorably for bitcoin holders.  All others are destined for the poorhouse.

For now we can see that the money is running away from the bitcoin, but it is obvious that this funds are going back to our number one cryptocurrency.
The reason is very simple, the altcoins are literally rising too fast, we cannot have such a rises without any consequences on the infrastructure, or at least on the other assets related to cryptocurrencies.
In fact, I expect that many of these most known shitcoins are going to get dumped in next 3-4 months, when people will find out that there is no point in investing at a long-term in something uncertain, when bitcoin gives us such a great opportunity- it doest matter that it is expensive, I would call that as a digital gold- you need to pay a lot to get it right?

What? You guys live in cave?

Most altcoins - no, almost all altcoins - are technically superior

And BTC is getting lacerated in scaling war, too. Why would a neutral person, who does not know BTC is "the first, the one and only", decide to spend over $1000 on a bitcoin, if a DSH, an LTC, an XMR or an ETH coin is so much cheaper and offers so much faster transactions and functionality?

I love BTC but being a bit more humble and realistic would be good for Core and BU and all of us. >:(

all alts have the luxury of very little use so none of them have a scaling problem and there might be technical problems that are yet to surface. nothing has taken the beating bitcoin has and i wouldn't put any trust into something that hadn't been kicked around for a few years.

yep, there's definitely future potential, but anyone who doesn't think they're in an insane bubble right now needs to step back and remember some history. maybe it'll get bigger but there'll be the correction from hell at some point.

bitcoin's situation is so different to any alt that i don't know why people bother to compare them.

That's awesome. As said in one of the quote if we get a crazy scenario of ETF approval then what we gonna experience is simply big and well most of the users who have got few numbers of bitcoin into the wallet turns to be an elite member or a man who became elite just because of bitcoin.

who cares? lets celebrate all together :P

Not really. Define "technically superior". "Faster" block time? Other algos? PoS? Turing-complete script language? More anonymity? Most of these solutions have disadvantages and that's why Bitcoin doesn't embrace them.

The scaling war is surely a factor of relevance. However, most altcoins have almost no real functionality because almost nobody uses them as a currency. Can you send money "fiat-to-fiat" with Dash, LTC or ETH from India to Canada, for example, without high fees?

The bubble is the consequence of the speculation on that some day "$ALTCOIN" could be useful and even rival Bitcoin. Most bubbling coins will fall again. Some may not, they may be really useful and a real competition. We don't know.

I'm sure people are working on projects this very moment to do that.  Do you really think it will be long?

I think the scaling debate is more than a little relevant.  It's the main reason why bitcoin is losing.
Some people are waking up and have urgency, but sadly not enough.  By the time price makes
the poor fundamentals clear of a non-scaling bitcoin, MAJOR damage will have been done.

stop this ridiculous no clue discussion. Bitcoin still works great and is very cheap to transfer money. and bitcoin is the only that have a real use in real economy.

the reason bitcoin is losing is because there's more dollars to be made with alts at this moment in time. the scaling thing is a convenient reason to haul people into fuelling the pumps but that's about it. i think people are more coin agnostic than we like to think if more profit is available.

How about you stop with this ridiculous stick-your-head-in-the-sand ostrich mentality that Bitcoin doesn't have competition and can't be overtaken.  It's
an arrogant, cavalier, complacent attitude.  

I'm for awareness and vigilance.  Anything else is foolhardy, especially when the data is right in front of our face that Altcoins are rising.

yeah whatever... :P

1. There's no real altcoin's capitalization. Vermin holding 90% of desh and eht makes an artificial indication, a bubble, when he tries to fix his profit in real money (bitcoin) all this shit dumps at the speed of light.

2. Notice, As usial, BTU shills cheer for alt (evidence that they are foe to bitcoin) and why all this drama about bigger blocks, they actually don't want bigger blocks, they just want to hinder bitcoin by creating some FUD and fuss.

Looking at this I can say that this is accurate with 85% certainty. I browse various investment forums and right now everyone is talking about cryptos, but absolutely none of them talk about Bitcoin, and next to none talk about ETH. It's always about pumping the shitcoins and making money off of bagholders.

The reasoning? You're never going to see a single-day 35%+ pump in Bitcoin, and you'll never have a good quantity of Bitcoin to really make a lot off of a rise like that.

It is entirely based off of profits to be made now. To them, Bitcoin is now a means to an end. And I can't blame them.

It will be a bloodbath for sure, get youre popcorn ready my bullish Bitcoin friend, alot of that money will flow into Bitcoin.

I think the argument there is that a rising tide lifts all boats, so the profits from altcoins may not last, and once they don't, the traders may pour into Bitcoin.

As the capital of the bitcoin is growing gradually we can expect the same to happen in terms of money flow into the network. Whether it can be in the form of investment or for any other process. All that's required is the spreading that makes more users which makes it grow effective.

>total market cap for all cryptos is now at $37.3B

I'm starting to think that you're very, very right. I remember when we were at the sub $20B, being up at $37B with nothing to pump any of these alts and having none of them actual produce any sort of value scares me to be honest.

This entire market looks like a giant bubble ready to bust, and it all looks like Bitfinex started the bubble we see with Bitcoin now (pushing the value +$100 when it shouldn't have, and exchanges follow suit) and then everyone suddenly decided to dump everything into alts to make ez profits.

If this market isn't a bubble then I'm no longer comfortable looking at the markets anymore. It seems to big for its own good and too much money is flowing based entirely off of speculation. We're going to have a brutal, brutal collapse. Maybe a 2008 of cryptos?

Compare to bitcoin alt coins is so tiny to compare to the success of bitcoin from a thousand dollar price compare to almost nothing price of alt coins but we know that there are some alt coins that has a value  but still a long run to a thousan dollar bitcoin.

Profits from altcoins really don't last so it is wise to convert into bitcoin once in a while if one bought altcoin at a low price to get profit weeks or months ago. I think this altcoin rising pace will end soon specially now that btc is rising too. Many might think of pouring their investments onto bitcoin to profit more thus might be the reason for the end of altcoin rising in weeks to come and bitcoin will remain dominant.

If you look at the price of the major alt coins it has changed drastically in the past few months and if the price could hold firmly for a while then it is a good thing and you could compare it as an asset without a second thought,never thought that we could see a rally in all of the major alt coin market but we saw it happening and will continue to rise if the bubble does not burst.

Yep, still needs long time for altcoins to become is like bitcoin and bitcoin is still number one on capitalization of markets
but without altcoins, i am not sure still there is comunity of digital coins
that be active on digital coins especially the traders (a little traders) who take profit from trading because if trading bitcoin
to fiat will take big capital and it is not good for small traders.

It is so unusual that altcoin rises as bitcoin pumps yet it's possible since most of investors are taking look of altcoins nowadays thus bitcoin doesn't affect altcoin's price negatively. We should expect good things in altcoins since it's being introduce to investors that would really help to expand the volume in trading in digital currency.

Even though it is a bubble and it will eventually burst, but still altcoin has an impact now, a lot more than it was used to at the time OP talking about, people have started to consider alts as an option, not only for investment/trading but also for practical use that they may have in the future depending upon their current development and prospects.
So maybe no alt will come close to bitcoin dominance but I feel they will be there now, always as a sidekick.

Yes, that's possible - that's what I meant with my last sentence, some altcoins may be actually useful in the future - , but it's still speculation. Still I think not many of these altcoin remittance services exist, and if they exist, they almost certainly have low liquidity or high fees.

I consider that perhaps 5 or even 10 altcoins can win in the medium to long term from this situation and establish themselves as serious payment platforms, but most altcoins will lose traction fast after that bubble.


Here I agree a bit, but I think mining pools - if acting rationally - will accept Segwit eventually just to avoid this damage. Maybe the F2pool signalling start was the beginning. I know you are not very Core-friendly, but one can blame both parties for the stalemate.

BTC dominance has decreased already so this could mean those users who have been getting int crypto aren't here just for BTC but to invest to something else. Yes there is a chance that BTC will be beaten one day and an alt will soon be the base of all.

I disagree, not all of the altcoins are superior, because there is a lot of Altcoins which have been removed on the exchangers because no one uses it, or its value is not that big that is why it was eliminated. But it is true that some of the Altcoins do have a great price, but not Superior, bitcoin is still the superior one amongst all the Altcoins here in the cryptocurrency world.

The price of bitcoin right now is continuously increasing, and will keep on increasing and increasing since its population is also increasing day by day.

Only because they are meaningless. I they'd become important all of them would have their own Juda Roger Vermin. Why do you think Vermin doesn't want to just fork off with his roger chinesse coin, but trying to take over Bitcoin?

Alt coins could be steaming piles of shit in Zimbabwe and values would still rise as long as prices fluctuate. Up / down = profit for traders. All the new traders are looking to 'buy coin'. You think a newbie comes and thinks "I'm going to start by shorting coin"...no, they join by buying long! There isn't much fundamentals to price each coin on. Value is almost irrelevant in this case, the only stumbling block is when everyone heads for the exits. It really is just a bunch of ponzi coins ATM.  Newcomers have no idea what a 600million USD LTC market cap is, much less understand how it is relevant to anything. They are just following the pump. Exchanges are promoting alt investment because they profit off all the trades. As long as fresh $ keeps coming the prices gonna go up, obviously. I don't see it slowing anytime soon.

My thoughts about your topic is same , but here I can't accept your phrase that bitcoin is not king now ( indirect meaning ) , the bitcoin will.always remain king , it is because the most of the altcoins can't run in the internet without bitcoin Because they fully dependent on blockchain of the bitcoin network .
So here I think bitcoin will.always remain number one even after the total mined bitcoin of 21 M  Because the demand and use of the bitcoin more in the market then what we have .

Agree, Bitcoin is always the mother/father of all cryptocurrency. Its the very pioneer where ideas  was conceptualized from this cryptocurrency. Maybe there are altcoins which can surpassed in features but it will remain that bitcoin started it all.

Eh, correction: alt coins have now 66% of bitcoin's.  They have 40% of the whole crypto scene.
It is BTW interesting that about the same ratio is valid for the second one, and the rest.

Bitcoin is at $22 billion and alt coins are at $15 billion
Of these $15 billion, ETH takes about 50% and the rest, the other $7.5 billion, are in the rest of the alt coins and are diversified over several of them.

The remarkable thing is that this is new money.  This is not money that flew out of bitcoin, but it is new money flowing in (of course, market cap is a bad measure, but given that the volumes of these coins are relatively important, it is most probably not a multi-coin version of willy bot).

Most probably this is because there's less "up space" in bitcoin than there is in alt coins, and being speculative tokens, the market with one token rising was too simple, and too predictive which is in principle impossible: no market can be simple with easily predictable gains, because then the gains are already taken.  With a lot of different speculative tokens rising and falling, the fundamental uncertainty of markets can be re-established.   The next x10 gain, and the next /10 loss will be "somewhere" but nobody can pinpoint with certainty.

As long as bitcoin had the cryptocurrency de facto monopoly, "playing with alts" was somewhat "ridiculous" for "serious" gamblers, and the predictable long time rise was with bitcoin, and bitcoin only.  This is impossible in the long run in a market.  Now that bitcoin has lost its monopoly position (at least for the time being), while still a market leader, and the "competition for the crown" becomes credible, this puts alts in a different position: no more "low level inferior stuff as compared to the market monopolist", but rather as a player in the market like any other, where there is still a market leader, but with a place that is not impossible to overtake.

Once all crypto is on the same level, and being "market leader" is not naturally assigned to the first mover any more, the market will become much much more opaque, as it should be.  You won't know any more with some certainty what will be the crypto that is the market leader 20 years from now.  It will be, like with a mature stock market, a totally efficient market, that doesn't let you make any sure long term predictions.

Whether *this* particularly steep rise is already the indication of the maturing of the crypto speculative token market, or whether this is an artificial pump and dump that will soon crash down is hard to say.  But it indicates at least the future direction, which is to be expected.

It is impossible, in the long run, to have an established, and quite well-known "rising asset".  That simply doesn't make sense when enough smart money is in the market.  But to have an opaque market where an unknown today, will rise to market leadership in a decade, knowing that it can very well crash down, and leave its place to yet another one for the decade afterwards, is much more realistic and in agreement with an efficient market.

When assessing altcoins we've got to consider the entire cryptocurrency industry. Even though Bitcoin is like 90% of the altcoin market, why couldn't the entire sector rise if the Fiat currency is dying? Unless people are putting money into Gold and Silver, crypto in general is a wonderful investment as a pure form of money.

Mmm.

http://coinmarketcap.com/charts/#btc-percentage

At this moment, BTC is 59.2% of the crypto market (it is for the moment still 150% of the alt coin market but that's a strange way to look at it)

Bitcoin would not have survived this long without the Altcoins.

It is the Altcoins Markets that have provided a reason to purchase BTC , as many don't have a direct Fiat option.
Plus if you consider the amount of BTC tied up in the markets in bid orders, you can also correlate the altcoin price increase also causing the increasing BTC current price.

Many Alts have went up in price too fast , so their will be a bubble pop , but when it does, it also means not as much BTC will be needed in the Bid orders.
So when Alts sell off, BTC will also have a sell off.
Look for a massive conversion to fiat as the big players take some profit off the table at the expense of everyone's market cap.

New Saying for everyone, when the Altcoin Bubble Pops, BTC Price will Drop!   :D


 8)

this is not a bubble, it's more like a liquidity explosion or new money influx take your, there are many new investors coming in this world, thanks to bitcoin recent surge

some of them are too naive to think that altcoin can be a safe haven in case bitcoin go down, in fact this bubble started when bitcoin tanked

but notice that only dash and etehreum are big enough to make the whole marketcap very significant, without those coins the whole marketcap would still look tiny

You can consider some of the alt coins like ethrium monera etc that getting and having success like bitcoin does but still a long run to become like bitcoin also so many alt coins in the market that cost nothing so for me just bitcoin.

Bitcoin fee would be high to those who want it for free.  There is no argument on that.

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I think altcoins are getting more audience today.  They even form alliances to further develop their functionality, which is a good thing for cryptocurrency as a whole.  With this, it certainly creates hype and attract people to buy their altcoin.  And with a huge fund in their hand and a large percentage these developers are holding, there  is no doubt they can manipulate the market according to their likings.

I don't see how you can say that.  Ethereum is about half of the alt coin market.  Dash is not the other half, by far.  Ripple is 3 times bigger, and LTC and ETC are comparable to DASH.   Monero and NEM are each of the level of half-a-dash.

No, the alt coin market is much less monopolized than was the crypto market when bitcoin was still the monopolist.

The "leader of alt coins" has only 50% of the alt market share, while bitcoin has been, until recently a few months ago, essentially been above 80% of the market cap of crypto.

The market is becoming much, much more diversified.

My thoughts of this was because there are a lot of projects that are successful in altcoins.
Ethereum is the leading in altcoins and it has a lot of tokens that are successful, nowadays I've seen majority
of the well funded ICO are increasing its price also.

Whatever may be causing the rise of altcoins, it is good for all. Even for Bitcoin. Because after all it is all crypto. Anything good for crypto is good for Bitcoin as well, as it establishes user trust in the system.

i don't think that altcoin rising will end soon because as long as bitcoin price is still up then altcoin will be followed although there are any correction price for bitcoin and altcoin, the price is following each other. and i think its good for altcoin because if we can make profit, then i am sure that our bitcoin will be increase too and we can make withdraw with much of profit.

I think this is getting better for the market because back in the days when i was trading altcoin, i'm always afraid to touch any kind of altcoin when the price of bitcoin is getting higher because i always think that the altcoin will go down but now it is not, they are both rising and i don't know what is the reason but i think the altcoin market is getting enough investors to maintain the price of their coin.

As quoted the altcoins growth is a good thing for the entire crypto community who are into real use of bitcoin and altcoins. Though altcoins have not got much usage same as bitcoin, the trading platforms of altcoins help in making a better profiting and invest into bitcoin.

And all the better for the entire crypto market. I've only been an accidental diversifier, but am glad for my modest hodlings of the three alts I've always considered to be part the "Big Four", ETH, LTC, DOGE.

None have seen the spectacular peaks some alts have experienced these weeks and months, but I'm perhaps more comfortable with the steady growth.

Of course, right now the chances are very less, many new people are entering into the crypto world, but this basic step of all the people because crypto's already changing blockchain system technology which many banks are being migrated. In coming days we can see many other sectors coming forward to the crypto world.

Well it's not easy to give fame to your own coin if possible especially if the 1st created has already a high gap on the next altcoin. Ethereum was not the 2nd to be created but it rised among altcoins. An alt coin has chance depending on how unique its features are. Right now its hard to think of own style because almost all altcoins has the same motive but has different perspective on each of them.

How fast everything is rising like now and new money coming in. I think this is like the next step what's happening the real investment world is interested in crypto now I also saw some signs from some bigger investment dutch companies. But they don't really reveal it publicly you have to search it deeper. I mean why would they tell the public that they make insane profits with crypto? Then every man will step in. 300 bil+ this year would by nice maybe too optimistic. But I am just saying what I think. If this keeps going its possible.

And many many more tokens will by released. No one wants to miss the boat this year. The further future I can't tell and it will also by good for bitcoin. We only need to watch out if bitcoin dominance doesn't go down to much. That can cause price drops later on if to many people move to alt coins. But at the same time if people keep paying more money for the bitcoins it can't really drop either.

that type of talk is an irrefutable sign of a swollen bubble about to spray everyone in the face with its burst.

bet .01btc it's not a bubble and no 'burst' within the next 3 months.
stipulations:
1) we will call a 'burst' 20% fall from these levels.
1) any 'burst' would have to be from around these levels, now higher from here...therefore:
2) current altcoin market cap is ~$12.5 billion (per coinmarketcap.com)
4) you win if altcoin marketcap hits 10.1billion marketcap.

if you want a longer timeline lmk. but i'd rather just do mulitple bets cuz I don't wanna wait too long for my money :P

Wont crash, not a bubble yet. Indvidual coins might crash, but as a group...UP. I'd even be willing to bet they RISE 20% from here, hah!

that sounds like a plan. i'll pm you. if it hasn't happened by august 1st i'll pay up. if it does then i'll nominate the charity where i want your .01 to go.

i agree that there's a lots of successful project which why the value is really rising and even bitcoin is also keep showing good uptrend movements alts are also moving alongside on it, we really can't say now that hen btc rise alts will slowly fall instead, time to keep chasing for the alts that will be pumped together with btc rise up.

Faith in crypto is increasing overall. Faith in fiat is decreasing overall.

Fiat markets are a mess but crypto markets are meant for movement.

Progress in crypto is moving faster than any other tech. This is value for everyone in.

The rise will continue.

This is what I'm afraid of too. When does the bubble burst and everyone is hurting badly. Well, I hope to be out before that happens. Its just the greed takes over and you don't want to be know for having weak hands.. I lose sleep over this stuff. lol..

Probably the most obviously correct analysis !

Thats why we should not make a period on our own views on a certain thing.Altcoin is definitely under by BTC but it still shows some progress in the years or months that have passed which means people are interested on having alternative besides to bitcoin.If the price is rising then expect theres an adoption which isnt surprising anymore specially to those coins who are on the top of marketcap.

If you do notice that people are not investing anything extra in altcoins they are simply exchanging coins from bitcoin to other alts. I hope you remember whenever the price of dash went up bitcoins price reduced. This time we didn't see bitcoin reduce when eth price increased as bitcoin was introduced in japan so maybe new investors might be from there.

Probably just going to lead to a ton of people losing out and the people that are orchestrating all the pumps are simply just going to go back to Bitcoin holding, so you'd probably be right.

Any of the people who are just simply riding off the big increases on altcoins that loses out is probably just going to forget about Cryptos forever and just go back to the Stock Market, Forex, or something along those lines. But, the popping of this bubble is going to be gross and sad for a ton, kinda  like the 2008 mortgage bubble popping.

Bitcoin can and should always be the referential currency.

However, some coins offer services that bitcoin does not currently have the capacity to provide and vice versa...this is as is intended.

For example, how some coins are being used as an economical and sociological test ground for segwit.

The concept of cryptocurrency is to adapt...at least a little. It's in the code...yeah?

I am forex trader more than 8 years. Let's think about "smart money" and "dumb money". When we compare the cash flow from two different groups, there are few possibilities. Big investors are looking for long term opportunities. You  can check statistics   of  "that opportunities"  on some sites which provide weekly spreadsheet.Digital money sector is growing and old payment methods is looking for a new way which needsvthat "smart money".  As the capital of the bitcoin is growing gradually we can expect the same to happen in terms of money flow into the network. Whether it can be in the form of investment or for any other process. Never underestimate the power of crowd. There is a chance that bitcoin will be beaten one day and an alt will soon be the base of all ;)

More and more people are moving their BTC into altcoins. As BTC rises, alts usually pause, but lately they've been rising together. This means new money is flooding in as well.

No bubble, people in the world eventually find the value of bitcoin and altcoins, therefore they seriously invest in crypto, not bubble. We will have 100 billion in the end of the year.

not true that when bitcoin increase altcoin go down, bitcoin is raising because altcoin is raising, people are buying altcoin using bitcoin, and making both increasing in value, because they need first to buy bitcoin to buy later altcoin

That's right, if we are going to check it now the price of the potentials altcoin for real there are really rising up as well just like what happened to LTC now, imagine last year Litecoin has been keep silent for less than a years then when 2017 came up now look at price it was really high, but still bitcoin is on top of course.

This altcoin run essentially means good things for Bitcoin.

Both institutional and altcoin investments are funneling into and out of Bitcoin. This is great for crypto as a whole and the sector in general.

TBH everyone on this forum is ahead of the game. The name of the game is to adapt and prosper. As the old fiat institutions crumble, we the people will rise with our own economic ideologies. Since crypto is spread apart by the people rather than by where you live,  this time economic control by force of war is almost impossible.  :)

Dash and eth are still the best coin after btc. I think both will be next bitcoin in price

ETH with "no cap" at price of Bitcoin? maybe in marketcap yes, but same price.. I hope only :)))

Why is Dash considered valuable?

Some of the altcoins are rising because of the features that it delivers that solves some problems that BTC can't handle. An example is SW implementation on LTC, that is showing that is possible and would be beneficial to BTC in the near future. The more an altcoin show different solutions to our problems, and become known, the more it's price will rise.

I really hope this bubble doesn't burst.

I dont know if someone has noticed or not.
but both altcoins and btc are rising simultaneously....

I dont think it is a bubble. Bitcoin is in the news so much that there has been a huge influx of cash into the space. Plus institutional money is coming in.  A few weeks a go the # 30 spot on CMC was $8m now its $50m.  $100m got you in the top 10 ranking but now it takes $200m.  The top 2 coins do $1 bil a day in volume. That is 10x a year ago.

Check out the CMC historical snapshots.

Crypto is in and its just getting started. Think if it multiplies by 10x again over the net year. BUY! BUY! BUY!

I noticed it and it's odd because we know and familiar that when the price of bitcoin is increasing alts are doing a counterpart of it, they are decreasing. Well let's just take the chance of this, let's both hold together but profit is profit. I hope that this rally will happen for a longer time or it is much better if this is a continuous process.

I think people are invvesting in altcoin to convert them into btc later when price of Altcoin increses.The real crypto king is btc and will always remain so .

It's just such a safe investment because of the utility and institutional money being poured in. Bitcoin is a fantastic store of value......you can literally convert it to anything.

Everything good about cryptocurrency has yet to even become a major part of our lives. Just wait til apps built on the blockchain become used more.

I have never seen something like that. I monitor coinmarketcap.com and it it insane what is going on.
In top 50 coins there is only like 4 coins which registered a loss during last 24 hours.
ETH will soon reach $100, Litecoin is on its way to $30. Global fiat economic crisis is coming?

I don't think crypto has much to do with fiat.  It is a speculative market now, like derivatives and penny stock.  My theory is that many coins will rise to about comparable market caps, because that's the only way to make obviously gaining strategies impossible (efficient market hypothesis).

Seeing as it's still going up, $22 billion marketcap now...think I'm winning this bet :p Long way down before 10.1 billion now. As I said, no bubble. Just warming up. Next year I'll be taking bets @ 200billion market cap.

People always looking for a good and potential cryptocurrency for many purposes I guess, to make a faster transaction, to store their wealth but maybe the most as trading object.
I admit, we can't trivialize altcoins compare to bitcoin as it has advantages and features that bitcoin doesn't, that's why some coins began to rise and reach $100-$200.
In the end people convert back their alts into bitcoin as the most trusted and valuable coin, but it has some prolem to be fixed such as confirmation time which always increase over time simultaneously with the price.

Ripple alone is up by almost 50% today. It might just overtake Litecoin in marketcap. Crazy times indeed. I'm tempted to sell some of my XRP for a good profit before it comes crashing down...though there's a good chance it might continue with it's upward trend.

If XRP is crazy, then Stellar is mad.

Anyway. I predict the alt-coin bubble will slow down in about 4 months, then people will be starting to mass sell their altcoins.