Bitcoin Forum

Hi All,

Can you please explain to this newbie if this is the general trend:

Bitcoin UP = Altcoin DOWN

thanks

That's how it works mate. Whenever the altcoins are rising. Definitely, bitcoin price is dropping. When bicoin is rising. Altcoin is crashing. Its vice-versa. But its not happen everytime. There are some altcoin can still go up even bitcoin is rising. That's still depend how hyped the coin is. Look at STR.

Exchanges are calculated on the BTC but the value back in USD so when BTC increase the price of other currencies tend to decrease accordingly.

that is usually what happens, some traders sell their alt coins if they think they will profit in btc to USD trading at the time, same thing on when they think btc price will fall ofcourse they will trade in alt coins resulting price increase

The trends aren't exactly like that and aren't predictable, but alts are definitely traded in relation to Bitcoin - so a drop in alts can mean a flow into Bitcoin, and a drop in Bitcoin can mean a flow into alts, but there could be any number of other reasons which go against these tendencies.

This isn't guaranteed, but often an overall altcoin pump like now will look like this (chronologically):
-Rise in alts
-Drop in Bitcoin, making some more newbies flow into alts
-Rise and alts and Bitcoin together
-Eventually, drop in alts and continued rise in Bitcoin

To some extent it is correct but the altcoins which are good worthy are not getting much affected by the bitcoin fluctuations. But most of the altcoins are getting affected due to selling in altcoins and taking bitcoins profit due to price increase.

Because bitcoin is most important and if it raises in value all others that are side investing (altcoins) are hopping on the moon train :)

For general trend should be like that. Because BTC is counter currency. But not all applied. IMO cryptotrade mostly depend on their trader sentiment.

Generally for most altcoins that is how their price is affected and most traders do actually apply this theory to predict pumps and dumps but its a risky strategy afaik.

Also it seems that to purchase or sell altcoins, you need to trade with bitcoin, so the trade is always the equal and opposite...  funds flow will follow market sentiment between these differing investments

But I read there is an DDOS attack on two major altcoin exchanges and traders are rushing to secure their investments. Now a days all altcoins are not trading to obey the rule of maintaining their fiat value as all are growing hence I guess no more we can expect the down fall for altcoins when bitcoin finds up surge.

It's not the general trend anymore, because everything has changed since alts are proving to be working. Even if Bitcoin is UP, if the altcoins are preferred against Bitcoins' usage, I see price increase more than getting decreased. Altcoins are now more valuable than Bitcoins if compared in technology, and few have the potential too to soon take over Bitcoins.

Thanks for all the replies.

I bought some XRP and XLM and they were doing really well, but it seems all the market cap gains flowed out and into BTC.

Don't follow the crowd. When you follow coins that have been statistically doing good chances are you lose money. You picked a bad time to buy into alts especially when BTC was rising so quickly, better luck next time. BTC is correcting again though, so you may have a better time later.

If you do the exact opposite of what your emotions are telling you to do, you're very likely to come out with a mountain more money.

When you're worried about missing the train, the truly successful traders have already sold most of what they have. They'll buy it back off you for far less when you've lost hope.

Bitcoin UP = Altcoin DOWN it was.Depends what alts,in facts main altcoins gain much more to dollar than btc.We need to see fiat money market,dollar is weakening to emerging currencys,there is path situation in USA very poor GDP and inflation rise.I think some money from fiat markets is coming to crypto

Yeah, USD value has got a big decline in value. If the same continues overcoming dollar won't be a big matter. The fall has happened and retaining haven't happened yet and if war takes place surely once again major drop can be experienced. As quoted some countries moving into cryto too might be a reason. Few alts were in the pumping, but due to the bitcoins forward rally it gets hidden.

this soon will change, the pattern cant hold up for ever, many traders will get burned

as far as bitcoin-altcoin price relations go, there has never been a solid rule for them to interact with each other movements.
sometimes when bitcoin price goes up with some rally, altcoins follow.
sometimes when bitcoin price goes up, altcoins get dumped.
sometimes when bitcoin price goes down altcoins start pumping
sometimes when bitcoin price goes down altcoins get dumped also.

this has been the story so far.
but i have found one rule to work in most of the times.
when an altcoin is being traded against both bitcoin and USD, when bitcoin price goes up, that altcoin (since they are mostly being traded with bitcoin) goes down because they need to keep the USD value stable otherwise arbitrage will balance it out. and when that happens it creates a panic sell wave in altcoin market which causes the altcoin to crash even more.

now this rule is couple with some other stuff, such as altcoins being in a bubble and poloniex were offline so they couldn't prevent the crashes, etc. was causing altcoin to dump hard in the past 2 days.

Does anyone have a link to a graph that shows the growth of the market cap of all altcoins (maybe including bitcoin) over time.
The information is available for most coins, but I'm looking for something that sums the market cap of all coins over time.

what if they are not trading but just buying? since japan accept bitcoin as a payment, they could be the oen leading this pump by buying to use bitcoin mroe thna their currency

yes a dump will occur but hwat matter is that the value will keep climbing eventually


https://coinmarketcap.com/charts/

I think this rule doesnt really work anymore. Same people are buying btc and all other altcoins.

Imply because when btc is up people tend to exchange alts for btc in order to take the value from the upward momentum.
That's all, just a short time value taking.

That would be a chain reaction to this situation since people's intention for now is to exchange their alts so that they may have balance to stake and sell when price of btc will get a threat of its fall down but this situation on altscoin for now is just temporarily happen since im pretty sure that alts price will come back alive again and be more competitive if the price of btc will go stable nor calm for this event. So for now its very best to buy those potential cheap alts so that we can earn for it in his next pump.

Thank you, exactly what I was looking for.

Check the Eth price chart and market capital in this below link,
https://www.coingecko.com/en/price_charts/ethereum/usd
 
Along with the bitcoin price bump, even Eth also has been increased to 90$ for one ETH. Now bitcoin price is stands on 1734$. I hope we will see the bitcoin price as 2000$ in a couple of months. Good luck guys.

Yes you can consider this as general trend but vice versa can't be taken as general trend.
look at market right now, bitcoin was up yesterday so altcoin got dumped but now without any drop in bitcoin price, alts are already in green.

Yeah and right now I'm more or less wondering if I should short ETH...

Cause the cycle goes fast, alts really drop fast in this world :p

These days it's usually bitcoin up, altcoin up, but even more.

Mainly the top altcoins only though, the shitcoins don't really move at all. All they do is go down.

But your observation does make sense because it takes btc to get into the altcoin market because mainly you cannot just go straight from fiat to altcoin. So when people want to pump altcoins they have to go through bitcoin. And also when altcoins go down it's because people dumped altcoins to go to bitcoin, driving the altcoin prices down and bitcoin potentially up a bit by this.

It's still a theory because there is no concrete evidence.

That's right there should be a concrete evidence prior that theory to become believable, besides altcoins market has a great contributions of btc rise due to such opportunities of buying and selling at exchange market. If altcoins decreased of it's exchange value then fluctuations actually happens just like bitcoin from previous months that we encountered, challenging moments. Altcoins has their own economic trend of it's market and when the demand of any coins in different crowd funding groups, well it do result to price movements depending on the market appraise value in exchanged to bitcoin.

Want to get into altcoins and shitcoins? Well, it's pretty much luck as you have to get the right coin and buy in at the right time. Most coins have already "mooned" and are not likely to go up in price further (mostly pumped by investors, so they can go up more). Other than that, it's a matter of buying the right coin at it's lowest price, which is hard to do as most shitcoins never go anywhere and you are forced to sell at a loss. Honestly, HODLing Bitcoin is easier and more fun, and also gives more long term profit.

It is normal attitude of the trading. Because now bitcoin is rise than all trader come on bitcoin, and this reason wise, altcoin price suddenly down.
Because bitcoin price is seriously grew fast to faster, and bitcoin price has full of attraction of the traders.
But usually it is not happen every time, coming soon everything will be fine.  

Holding bitcoin is easy yeah, but it doesn't make profit.
I mean most of us here try to get real profit from investments so it means buying and selling in order to gain from it. And btc holding is just fiat capitalization gain, nothing else.

The top altcoins went really high and ETC is about to go down. Find the right moment to short and boy you gonna make some profits ;)

If bitcoin down they its time for the altcoins to shine this is the opposite of bitcoin increasing and altcoins will be decrease the only altcoins increase is ethereum so there are possiblities that this coins will be the second bitcoin i guess.

Altcoin buyers are going to learn an EPIC lesson over the next few years about the 'Madness of Crowds'.

See Bitcoin FOMO of 2011.  See it again in Nov 2013.

I predict that within 3 years from now, ETH will dip back into the single-digit dollar territory.

Happens in the stock market too. Anyone here remember the '3D Printing Will Change The World' FOMO hype of 2013?

No?

Just go pull up a chart of SSYS, DDD, and Voxeljet stock. Zoom out to Max chart view.  Then shed a tear (or not) for those that caught up in that bullshit. Some people have to learn the hard lessons.

Yeah right, Today, BTC are connected to the price of altcoin, And unlike in the past that the result on price changes are opposite, They are now in common effect due to the increase of user of crypto nowadays.

In years? You really think so?

I was seeing ETH down far earlier than that to be honest :/

So... Should we long it for the time being? And close it in a few days/weeks?

I agree with that. The Japanese price is leading the way. It has some actual usage of the bitcoin there.

It is not always like that.
But behind all of that I guess it is because of the exchange rates.
Bitcoin to USD and altcoins to USD.
Other altcoins are going up being pulldd by the bitcoin wave.
But still alts will depend on buyers and holderd just like bitcoin.
One more reason could be when bitcoin rise the alt holders will suddenly sell their invested altcoins to go with the wave of bitcoin.

That is how it worked most of the time, but as you can see this massive rally has not only included bitcoin but almost every other major coin in existence, this is what happens when the money invested in cryptocurrencies grows instead of the same money just moving around.

Honestly I am quite surprised why several altcoin increase rather than decrease in price.  It seems altcoin are riding with bitcoin popularity and making people to invest in alternate cryptocurrency due to bitcoin scalability issue.   Or probably there is some whales that orgnized a syncronized altcoin pumping  ;D  (This is just may imagination do not bother)

this now is deifference
bitcoin price incraese very high, all altcoin still follow incraese, not down price

That is one explanation, another one is since some think this is real growth and not a bubble then it is possible investors have decide they are willing to take an even greater risk and are willing to invest on, altcoin in order to raise their chance of making even more money in a shorter time frame.

That is what happens all the time and I think that no Altcoins can ever progresses what Bitcoin has atain right now and we can really see the real deal in bitcoin because of the price right now that is as of now $2398.99 dollar and still coming up really steadily but I gotta admit if it isn't to Altcoins there is not trade between any coins right now.