Bitcoin Forum

As a scaling solution has been reached, it looks as if money is finally flowing back into Bitcoin (https://coinmarketcap.com/). There is a clear downwards trend on all of the alt-coin's value graphs, while Bitcoin has a clear spike in recent days.

Thoughts on what this means for bitcoin / alt-coins in general?

i don't think that is the case, bitcoin was dumped for another reason(bitmain hard fork, random panic selling?) not because the money went to altcoin, and now they are going back to bitcoin

altcoin are too volatile, it's normal to have them all down and then all up at the same time it happened already some weeks/months go

also ETH did not lose anything, from 0.15 to 0.13, normal market behaviour, other alt are more prone to manipulation

it means nothing really because this is not a new thing. it happens every year.
each time there is a good altcoin pumping season where all the altcoins get pumped a lot one after another and they give a lot of profit to most old users who know the patterns and those good traders who don't fall for the lies. and the rest who lose money either become experienced and next pumping season they make good profit or they just leave.

and besides this is just the start of the altcoins dump. it will speed up soon and that is when things become catastrophic for them.

At this point all the Bitcoin supporters will say Told you so, I have been personally advocating for only using Bitcoins and nothing else, I had always said they were alts and they would disappoint, many had kept shouting alt would do good but now they all will disappear and only bitcoiners shall stand strong. I am not at all surprised to see this happening, honestly knew it a matter of time before this was to happen. Will once again say stick to Bitcoins only.

Don't you think that it is still too early to reach such a conclusion? The SegWit code is not ready yet. And it is not known whether the 80% consensus can be maintained for a long duration of time. And also, the last time when I checked, the 24-hour rise in the exchange rates for Ripple (+7.72%) was higher than that for Bitcoin (+4.56%). Some of the other alts are also rising, such as Bytecoin and IOTA.

I think a lot of people are starting to realize that coins like Ethereum is simply a pumpNdump ScamCoin and they are moving back to trusted technologies like Bitcoin. You will also see that people are gaining trust in Bitcoin again, because the scaling issues are nearing it's end now. You will also see a huge flow of capital from Ethereum, when the SEC starts to investigate the founders and developers who benefited from the pre-sale of the tokens. < typical scam coin characteristics >

Bring the Popcorn, this Alt coin show is going to be very interesting. ^hmmmmm^

For now, somewhat. But the week before Aug 01, especially the few days before Aug 01, the money will flow back into alts...mostly the top 10 alts.

I'm bullish on Bitcoin and Monero long-term.

Scaling solution has not really been reached yet. exactly what happens won't be decided probably until the end of August, whether certain hard forks gets activated or not. The key date here is 1st August as I'm sure you're already aware of for the UASF. There are companies(Bitmain in particular) that want to mine their own altcoin instead of bitcoin if UASF was activated... A bit dumb imo.


Agreed, bitcoin in the long run is going to be a heck of an investment. People focus too much on the short run, imo. Investing into altcoins right now is not a good idea, just look at the graph of bitcoin dominance. So many ICOs and crappy projects that somehow is luring traders in.

You are wrong. If 80% consensus could be achieved for SegWit (it is at 79.9% right now), then it is not going to matter. What happens in August 1 will be like damp squib. I expect Bitcoin to eat in to the market shares of the alts and rise to somewhere around $5,000 to $10,000 per coin by the end of this year.

As the title says, it is true that the most of the investors money are moving back into bitcoin because of the events that are coming and also the good news that we have as of now like the legalization of bitcoin in different countries like Australia and the latest adoption is from India which is one of the country that has big population and it means possibility for a huge demand in the market.

I also think that altcoins will gain in price by the end of July but by the end of summer I think bitcoin will skyrocket up to 5000-6000$ killing altcoins

I think investors simply think that bitcoin is the only investment that can truly give them the results that they wanted. There are few alt coins to invest to, but its hard to stay with them simply because its a pump and dump market. Going to bitcoin, is an easy choice to make really. And today's price is looking good $2700 and probably can go higher in the next coming days.

https://coinmarketcap.com/charts/

See Percentage of Total Market Capitalization (Dominance)

I see Bitcoin dominance in downfall. Alts in general aren't in long term downtrend, with some exceptions.

Of course a trend reversal would take some time to be seen.

Most bitcoin users moved their funds to ETH or other alts expecting a chain split in August, but with Segwit2x getting 80% support and if they signal Segwit before August 1 then the possibilty of a split happening is very minute and Segwit getting activated soon is very high so right now money is not flowing to alts, what was flown is coming back to BTC. Yeah, a hard-forking event might create another cloud of uncertainty in the future, but there's enough time to ponder on that.

I wouldn't call this a full reversal yet as some supports need to be tested first for it to be confirmed. If anything, this would temporarily widen the gap between bitcoin and ETH, but we will see how the price of both behave in the next few days. Alt plays are still ok because of their more volatile nature, and now is still a good time for that.

I don't know, I saw eth move down to .11 for a while, and the chart is looking very bearish ATM. Of course in the medium-term we'll be heading into 400 500 you'd hope but the segwit2x could cause BTC hype.

ETH flash crashed because the network is congested and the etherscan is under some kind of maintenance, so people panic sold. Most exchanges still don't allow ETH withdraw. But other alts are rising and it still not clear if it will affect ETH price long term or not.

I dont see any downtrend in alternative coins ether is almost same between range 350$ - 390$ and lite coin is moving upward trend . even ripple also slowly moving . Waves is stable then how can you make the statement

Yeah, this is not a complete reversal. Now a part of people who have been into altcoins for making money are returning back to bitcoin as the price increase has begun after the steep fall towards $2000. Right now both bitcoin and ETH has begun to get higher value. The volatility of alts too decreasing gradually.

I think that the story that "alt coins are gambling instruments for the short term, bitcoin is the "savings account" for long term, is over.  This was true when crypto was essentially bitcoin, bitcoin holding 80% of the entire market cap.  Now, bitcoin is fighting to get back to 40% of the market cap.

I know the arguments against market cap alone, but market cap and volume are coherent.  Bitcoin's volume is right now $1.8 billion.  Total crypto volume is $5.2 billion.  That means that bitcoin is not even the principal PARTNER to trade alt coins.  If the whole of the alt coin market were bitcoin/altcoin, bitcoin's volume should be more than half of the total crypto volume.  It isn't.  If the full $1.8 billion of bitcoin trading is bitcoin/altcoin trading (and no "pure"bitcoin stuff), then this can explain at most $3.6 billion.  The remaining $1.6 billion is ALTCOIN PURE, with no bitcoin intervention.  Altcoin/altcoin, or altcoin/fiat.  Note that the altcoin/no-bitcoin is now of the same order as bitcoin volume, and that bitcoin's volume is 34% of the total crypto volume, so even lower than bitcoin's market cap share.

Bitcoin is still the market leader, but it is not a monopoly any more, and the alt coin market is now largely independent of bitcoin.
This wasn't the case until march/april.  I think bitcoin lost forever the crypto monopoly.  It would need a spectacular U turn for this to be undone.
Personally, I think this is very positive: it will make the market open.  A market with a monopoly is never good. 
It is even good for bitcoin.  Without it feeling the heat of competition, it would become a Soviet system.  Bitcoin will be able to resolve its problems, when the bitcoin brand name is mainly eroded.

the money never really went anywhere. it has always been in bitcoin, what your link shows is the market cap if you look at the volumes you can see it is the same as all the pumps in previous years with a little bit more growth which is understandable as the time goes by more investors come in and during pumps they come in more!!!

but the term "altcoin market = penny stocks market" has some truth to it. nobody has ever taken altcoins seriously because they don't want to be taken seriously. all any of these forked and forked after forked projects care about is how to earn more money and hot to pump the altcoin more next time.

I think majority of the spikes in altcoins have been due to the unrest in bitcin world, with discussion and disagreement between the parties, BUT nothing damaging bitcoin over long term happened, hence as soon as things stabilized, money will move back to BTC.
This is great for BTC and very bad for crypto's like ETH which started to try to take a portion of the market base, which is returning now to bitcoin.

The reason that altcoins will not crash to the bottom this time, is because people are becoming more aware of crypto currencies. Also the world's financial situation is in a really bad shape right now, which is why alt coins will finally push through and become more dominant.

What you are telling is only the good and valueable altcoins will be in market and balance shit coins will get dumped to dead and they wont rise soon. So it is better to invest in bitcoin which is a future coin

not really!
bitcoin are barely even aware of bitcoin. they never even hear about the altcoins. granted they may have only heard about one altcoin (ether) but that is just because ether pumpers advertised it a lot with a lot of falsified news during the pump. but as you can see all the talks have stopped.
altcoins have been pretending to "push through and become dominant" but when push comes to shove they all dump to get their bitcoins out.

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IF they resolve the scaling problem(s) by August 1 (or have a credible solution very soon after), then IMO Bitcoin will likely seize its crown back as the King of Crypto.  

There is considerable infrastructure around BTC (various merchants who accept it, who takes ETH or LTC?).  Any "Alts" would have to have a HUGE advantage (or more) to convince people and businesses to switch.

If they do resolve BTC's problems soon, then the medium-term future looks excellent (more people and merchants using BTC).  And I would go along with many posters here predicting a $5000 price before too long.

It's still too early to make such a conclusion. The rise of Alt-Coins might have stalled at least for now but the upward trend is not yet over. Sure bitcoin is a more stable and popular investment option but some alt-coins have got great potential.

That's why I say that cryptocurrencies have future. Only the shit coins will be dumped to the ground but the powerful altcoins will hold it's ground even after the correction. People understood the value of altcoins and I don't think there will be a time where people take out all of their money from them.

It so happened that bitcoin can be considered the main crypto currency. Therefore, alternative crypto currency is equal to bitcoin. The recent increase in the rate of bitcoin to 2,800 per dollar caused an increase in altcoyins. With each shake-up in the digital currency market, it is also logical that there will be a certain flow from the altkoins to bitcoin, since people trust bitcoin more than other alternative crypto-currencies.

Well people became so afraid on the fork, segwit and other FUDs that occur these days. Feel bad for them for believing that. They panick buy alts so that their money would be "safe." But it is safe, even though you just let it stay. Have some balls.

First I don't believe they reached a scaling solution as a result of BIP91 and segwit. Then it's usual to observe that money is leaving those altcoins so that it could make another bitcoin glory. We waited for this too much and it's time for bitcoin to write another story.

Whether they reached the scaling or not this issue had given Bitcoin a positive movement, many people believe that the scaling problem is solved and all of them started to invest in Bitcoin again, the investors will always back to Bitcoin because Bitcoin is the strongest and already adapted by a lot of country, so it's more secure to invest in Bitcoin than alt coin

when an alt is traded only from bitcoin, you better see it as a ponzi game, no fiat is created from that speculation, so no, the money dont flow from alt to bitcoin. when the alt has a pair against fiat exit then its an other question

Hopefully this wouldn't be another story but the solution to fix our beloved cryptocurrency and get people onboard as we surge in prices from here. Many investors in Bitcoin are just looking for increased demand and so we are looking for the best for Bitcoin so that after it becomes a well established currency we all can profit from it.

Everything is growing so fast, it's a good sign, however, it also makes people feel anxious, the sudden increase can make the crypto market break.

I have been saying that this will happen for quite some time, as people realize that bitcoin is finally making the changes needed to accommodate more transactions and to lower the fees, more people are going to return to bitcoin to take advantage of this new environment.

I don't think alt coins is falling may bitcoin raising value but altcoins also the same Ether and waves are doing good even i converted my bitcoin into altcoins lots of my circle also doing same.

The price of alts is going to keep increasing, there is no doubt about that, but to think that they are going to become dominant is a big mistake, bitcoin is going to keep being the top cryptocurrency for a lot of time and to think otherwise is in my opinion a mistake.

Choosing only Bitcoin in the world investment is just playing safe and not taking risk. And quite okay for some who used to earn just enough. But if you want to earn more it us better if you always keep in mind that in the world of trading or any investment out there , it is normal to have risk and for us to earn we should live with risk and make the most out of it. It is not badvto invest on altcoin just make sure that you will manage it and work hard for it.

Correct, altcoins describe any other coin besides bitcoin and there is a mixed bag there, there are some outstanding projects there like monero and a few others, there are some useful projects and there are other projects that are either complete scams or that had no chance of ever working.

The money supply will always migrate between the crypto currency for various reasons and this phenomenon is normal. However, people trust more bitcoin than alternative crypto-currencies. Already there are 195 species of altcoyins and their number continues to increase. And most of them do not have much demand. Therefore, it is not surprising that people prefer to store digital currency in bitcoins. In the future, this process must be stabilized.