Bitcoin Forum

Hey Guys,

Can any one tell me why almost all altcoin dumping ???

Thanks

The reason for this is quite simple.

Currently people are trading their altcoins for Bitcoin to join the speeding bitcoin train and make some profit. However the train will stop eventually. After Bitcoin stops growing so hard and becomes stable or drops a little in price the people will trade bitcoins again for altcoins.

I would call it putting them in their right place. Most altcoin still massively overvalued against Bitcoin. For example Bitshares was around 500 satoshi for a long time last year, but now suddenly worth 3250 satoshi, and at one point this year it even rose to 17300 satoshi, there's simply no fundamental reason to back that up. Same thing with most other altcoins.

So bitcoin going to hit 10,000 $ isn't it ?

I don't even have a concrete idea about this, but I think one reason is that there's a lot of altcoin nowadays and since there's a lot of choice where to invest to, people are rushing whenever a new potential coin appears so, they would trade their old altcoin to invest to a new one. That would affect the price of other altcoin. I'm not quite sure, but I think it some how makes sense right?

Because many are trading to get bitcoin, and that is only temporary, if it stops then everything will return to normal. The end of this bitcoin has experienced tremendous growth, eating altcoins many dumps.

it is the bubbles bursting once again. you seem to have forgotten how all this was started. let me remind you.

when bitcoin had issues about its scaling and the war was at its worst in the early 2017, the altcoins used this to start pumping. you can still find the topics saying "blank is going to replace bitcoin because bitcoin can not do blah blah and it is dropping down to $10".
so idiots who read these topics rushed to invest and dumped their bitcoin and bitcoin price went down while whales were accumulating bitcoin.

now that idiots know what they have read was big lie, and as they got dumped on and lose money in altcoins and also lost the chance to buy bitcoin, they are now dumping their altcoins to go back to bitcoin. that causes bitcoin price to go higher and alts get dumped hard. :D

For me the scenario that you observed was due to the higher price of bitcoin in the market exchange updates from the site now, which really affected most of the altcoins holder to dump their assets. So people's investments is now very agressive and wanted to move for a new coin to continue for another journey of altcoins to be promoted. With those more promising coins to be added in the market soon,  I am pretty sure that would br dumped immediately with it's added at trading exchange site,  that's why big opportinity comes along.

this sounds legit. i dont really care about the dump though since its a nice time to buy more!!!

It's what happens when bitcoin is on a run, people like to cash out thei alts and join the bitcoin party for a bit anyway.  What goes up must come down so at some point alts will be back up.

Yeah you're right dude.
Take this chance to buy promising coins because soon altcoin will also pumping hard.
Always look on the brighter side of the story.
And yeah altcoin now is crashing because many dumps it to have bitcoin and taste the moon.