Bitcoin Forum

This is the time when I wish I had a lot of fiat money right now so I can buy more altcoins. I'm new to crypto and first time experiencing the effect of forks. For those experts, Is it possible that some altcoins will not be able to recover after the fork?

yes, Alts are bleeding hard at the moment. It will be interesting to see what happens if BTC corrects.

If you look at it in a short context, yes, but  if you look at it on the bigger picture, Alts are only profiting from Bitcoin going mainstream and reaching ATH constantly.

Bitcoin has the power to drive up the whole marketcap with it with time.

The question is BTC destroying alts are alts pumping btc.

I think btc rise is more about the flood of money not just into btc but into whole crypto space from ICOs etc. BTC is basically doing what ETH has been doing pumping off the back of the flood of investment in alts that then pumps btc with these forks.

Its not like btc has actually started to be used more in the mainstream. If anything its started to become even less usable with ETH more looking like thr winner in real world usage.

Well, what can Bitcoin do.. Bitcoin performance doesn't even depend Altcoin.  Its creators/developers know exactly what they want & what Crypto supposed to be.

 Alt like Ethereum needs to work on publicity,  be organized,  build great community, maybe collaborate with Silicon Valley  instead of govts & dictators, invest in hardware like satellite too?, never compromise on core values of Crypto, grow consistently and  attract great investors. Ethereum too big to remain at its shameful $300 level.

Indeed, and I'm not sure that the Bitcoin forks are to blame. Altcoins had their day in the sun during the first half of the year, and even after all the bleeding after June, the overall market cap has grown by orders of magnitude since last year.

Once BTC corrects, there should be a relief rally in alts. But I wouldn't plan on the bottom being in yet -- I'll be selling the bounce. It's possible that the alt markets have a lot of deflating to do. It's safest to wait for some signs of bottoming on the long term (weekly/monthly) charts before starting to re-enter the markets.

I address this point briefly on my thread on bitcointalk on my bet on how to hoard LTC till 5/1/18 as my mining goal.

https://bitcointalk.org/index.php?topic=2347546.msg23912819#msg23912819 (https://bitcointalk.org/index.php?topic=2347546.msg23912819#msg23912819)

this is a real possiblity that BTC forks of many flavors could be the new ICO and or ALT coin creation method....

Anyway, we will be the first to know I guess...(groan)

I don't think they will not recover after the hard forks. Traders are intelligent, after taking some nice profit out of bitcoin they knew it that correction will come. And before that happens they are jumping into some bleeding alts to take the advantage of it as that will pump later on.

Some might not recover from this but some will surely recover their former status. Therefore, they will somehow recover after all this lunacy of hardfork train is over. You just need to wait later on people will come back to alts and the one who will bleed is btc by that time probably. When the hardforks are over for sure some alts might go to the moon, some would have new all time high peaks like how btc did when it recovered from the 2013 mt. Gox dump.

BTC force is so great that it influences all the altcoins
but I am almost sure that alts will recover after BTC fork

Welcome to crypto, when it pump then it's going to pump hard but when it get dump then it's also going to dump hard.

The possibility that some coins not recovering will always exist. But major altcoins like ETH and LTC will likely recover though. The recent altcoins crash is fueled by people trading alts to BTC to get free forked coin. After the fork is done, that money will surely flow back to altcoins. If you want a safe bet, put your money on big altcoins (ETH, LTC, XRP)


Doesn't apply to Bitcoin, no? :D

In current scenario i dont think i can able to get investment back interms of USD or other fiat Currency but the amount of bitcoin invested already less than 50% price lower it will hit even harder next 15 days till hardfork .Now am not  dare to touch any altcoins . Even i cant able to sell any of my coins some become 100X loss.

I think the answer is positive, according to my experience from December last year, the altcoin will be recover soon, so it is a good time to buy some cheap and hot altcoins.

Crypto economy need to bitcoin forks  because bitcoin forks provide sustainability. Without forks bitcoins economy is useless and meanless. It can damage to altcoins for some times but if you look big picture they help altcoins and ICOs

I think alts are near bottom before the 2X work. Maybe a bit more drop the coming few days.

Most people who want to switch to BTC before fork already did. I see a lot of sideway movement coming weeks, until fork, and then alts will boom again.
Same as in July.

Yeah fork is like cheating, giving the rich even more money. Unforunately I don't have as much understanding in Bitcoin as many here, but I'm hoping this forking is not something you can just do. Because it seems like everyone and their mother can initiate a Bitcoin fork.

I would focus on your second part of the question. I think if an alt has good potential, team and constant updates and developments, then it does not matter how many Bitcoin forks happen, that alt will eventually recover. And as for Bitcoin forks, yes they are bad for a healthy growth of alts, but then most alts are anyways useless. So why not benefit from the Bitcoin forks and then invest in good alts!!

So do you think when ppl take away some money from BTC, maybe when it reached 10k, that they will invest the money again in altcoins like dash/eth/LTC etc?
What would be a realistic scenario to push the altcoins instead of BTC?

when is the actual date of the btc fork in this november?

Yes its destroying altcoins but the bitcoin holders really enjoying the moment . I sold some of my ether to get bitcoin even ether price reducing everyday. Now i cant sell other altcoins because its more than 50% lesser than the price i bought .

This is just getting worst. Do you think Bitcoin value correction would be $5000

What does 51% attack suppose to mean.

Altcoin prices are falling due to rising bitcoin price, this is because the market demand for bitcoin is very much and people are more interested in bitcoin. It's only temporary because altcoin prices will definitely stable again.

Yes, with the increase price of Bitcoin and at every hard fork the price of Bitcoin is increasing and it is affecting the altcoins. People who are holding the altcoins faced a lot of loss with the increase price of Bitcoin.

This will probably happen until Nov 15th. In the meantime make a list of the best altcoins that you want to invest in. Once the fork happens we should see a reverse trend. It's all about market timing at this point.

Invest in good altcoins such as CVC, Worldcore, ETH, etc.

No, bitcoin fork is not destroying all these altcoins but just these altcoins can't withstand with the massive price pump of bitcoin. You can see, the core of many projects' ICO Ethereum, been dumped so hard. From its ATH which at rate 0.13 if I'm not mistaken, has now become 0.041.
All the money in all these altcoins have been migrating to bitcoin, making the price go up, increasing the bitcoin dominance towards the whole crypto market and many more.

i think there is possible for altcoin to not be able to recover after the fork especially if bitcoin price is increase like today because people will use bitcoin first than altcoin. but i still have a faith that altcoin will increase again after bitcoin gets stable in one level price so the time for altcoin to increase is coming and in that time, i think we can prepare to sell our altcoin to take profit.

Yeah, to many fork lately, I mean way toooooo many
It is killing alts  :'(

Why such a hurry? To many forks in a short period of time, God!

They seem to be making a barricade for the growth of entire crypto world. But we need to get along with it and take it easily.
Bitcoin is an open source project and anyone can for it anyway they like, it's upto the user which version to choose.

I look at those Bitcoin forks as an opportunity and not as opposite of it. Whenever there's upcoming fork, Bitcoin price shoot up and altcoins suffer so much that there are times its price is slashed to half, but look at it as an opportunity to buy altcoins at discounted price. Buy if you are not going to participate on the hard fork or buy after the hard fork as altcoins price will start to recover after the fork.

Let's hope that the S2X fork this month is last one for Bitcoin at least for some months.
The China ICO ban has also dampened the entire altcoin market. But all this could change
fast in coming weeks so just need to hold on tight to your bags.

Yes it is possible that some altcoins will not be able to recover after the fork or maybe they need a lot of time to recover from sudden downfall. When fork had happened some altcoin holders convert their coins into Bitcoin just to have the free split coins like BitcoinCash and BitcoinGold. That is also the time where the price will skyrocket due to panic buying so due to the massive dump of altcoins the most affected altcoin will not be able to recover right after the fork but there are still coins that can easily recover especially those altcoins that has bigger supportive and stronger community. That is how risky altcoin investment is because we cannot predict exactly when it will be rising again.

I heard there would be another fork. Bitcoin silver in December. Too many forks

Forks have definitely been hurting the altcoins in the short term but I think more people getting into cryptocurrency investing with bitcoin can only be a good thing. There will be a decent % of those new investors who will start looking at other coins for more returns/out of curiosity, which can only mean more money coming to the altcoins

I agree that these forks that comes after another are the worst moments for altcoins. It's like everyone is selling their altcoins to get more bitcoins to be able to receive free money from those another bitcoins imitations just like what happened on the split event on bitcoincash.

It is the normal thing that has always happened. They always get pumped back. However, one should not expect that yet until after the fork as that is when most people would want to buy into most of the altcoins so much that they will almost pump themselves out and I am seeing some pretty huge gains from most of the altcoins by then for those who ends up not missing the show.

It is definitely possible that some dont recover or take way longer to recover and those will generally be the weaker coins. The coins that people love or have a true function those will be fine a few weeks to month after the

forking. It is the shittier coins (not shitcoins) that you must worry about the most!

Hardfork is pretty uncommon thing so it could influence on the price and dominance rate of BTC a lot. Alts will grow after the hardfork for sure. You should to HODL your alts if you have any. If you have fiat it's great time to invest in alts.

Even if you have lots of fiat, it is best to buy into BTC and relax for a while until the bullish trend and the next fork probably ends or few days before the next fork and then buy the alts even at a much more better price.

You will be winning in two ways. From the rise of the bitcoin and later on from the dips of the altcoin you are buying and their pump afterwards.

What's seems funny is how these forks are seemingly not damaging Bitcoin reputation. Who could say three months before that the more forks Bitcoin will have, the more mainstream it will go. Didn't seem logical at that time.

At present it is true Bitcoin fork destroying Altcoins. As Bitcoin gaining all time high, Altcoin are loosing their shine. But after some time when investor feel fear in investing Bitcoin as downfall in bitcoin may ruin invester then altcoin will certainly gain new heights. Presently a number of Altcoin are under valued.

Quite true and at the same time disappointing. All these Bitcoin forks is dampening and suffocating alot of Altcoins.
But after this whole fork, especially the Nov.15 own, we'll see a considerable rise in some alts.

I will have to agree with you when you say that Bitcoin is destroying altcoins, and the sad part is that altcoin investors are actually losing on their initial investments because of this endless hard forks. More surprisingly, all the these forks are trying to achieve the same purpose which is 'decentralizing bitcoin mining again'. The one thing I am failing to understand is why create too many forks just achieve just one purpose? ???

How it possible! we think it can't possible to destroying altcoin. Many country have a won coin and won currency if Bitcoin pump more and more but altcoin can't destroy. When bitcoin pump on that time altcoin will be down but some time latter when bitcoin stay in this tolerable market place on that time again altcoin pump. so we can say that Bitcoin forks can't destroying altcoin.  

I am probably prodding into old wounds by many people but at the beginning of 2017 this new sort of ICO had a better example as seen on GBYTE Byteballs. They did their airdrop according to BTC holdings without shedding a single drop of blood. An airdrop, as in free coins, no ICO, no fork.
Unbelieveable.
Something the next Bitcoin Copper, Bitcoin Bronze Ingots and Bitcoin Nonferrous Metal could consider to do, too. Bevore the scene wears out the remaining patience.

Think longer term. Blockchain is the future. Buy and hold altcoins that have long term potential. Personally, I like ETH and XMR.

yeah every time a new fork happen people go nuts about dumping everything and buying that fork, but what go up will go down, when bitcoin will go down again altcoin will go up another time, i think we still need to wait for the bottom on the altcoin now

I agree with you on this subject. a fact that is now a reality is that such projects that we think and we are involved are part of the future. If we think about that shape, maybe we can relax. Altcoins saw the lowest prices because of bitcoin's split talk. So many coins are almost dying. as soon as the fork events are over, I think the altcoin markets have to revive as soon as possible. I do not know how long it will continue or how long we can wait in this way, but I guess we'll have to have some patience.

The main problem is there.  At this stage too many altcoins loss 5x or even 10x  . Will there be such high returns when the uptrends return to normal? the damage was so fast and big, but will your return be so fast and big? hm. i dont think so :(

A lots of time bitcoin fork  , but we have a  altcoin with name bitcoin prefix,  i don't want any fork  , it make the bitcoin price higher, and altcoin price dump .

Indeed, the permanent forks of bitcoin have recently been depressingly affecting the altcoyins. They have not been up for several months already and this is already becoming a problem. Moreover, once again declare about the next December fork and another division bitcoin. It turns out, before the New Year at least the altcoins will not rise in price.

I guess guys with lots of Bitcoin LOVE forks, because they'll have lots of free coins / money.
But for others its bad, now most of icos cant even hit softcaps, because alt price goes down significally after they arrive to exchanges.

I don't like all the forking because it confuses new investors and keeps people out of the space also it destroys market momentum. I don't expect forks to stop I think they will only increase but after a time they will attract less attention.

Short term the forks do some harm to the altcoin prices. Long term the opposite could happen.
With the coming fork there are already different opinions about what fork ist the "real bitcoin".

With every fork bitcoin will be more and more like an altcoin itself. There are very many altcoins that have 1000 advantages over bitcoin.
When there is no longer a clear number one usability and features should start playing a greater role.

You are right.... It's the best way to divide a community. And afrait newbies. In 3 months we'll have another drama, and so on, until everybody won't give a fuck. But I don't speak about BIP improvement, more for shit fork like BTG.

You have not seen anything yet. Next year everyone will fork their own version of bitcoin, and it will only make altcoins more irrelevant, since some forks can be bitcoin-friendly (like Bitcoin Gold) if they don't pretend that they are the real Bitcoin, and they don't use the same hashing algorithm (which would be damaging for the real bitcoin if the fork got any traction). Ideally, another address format should be used to to not confuse people.

If these 3 criteria are meet, a fork can be friendly.

And then add in sidechains later on, and alts will get crushed while BTC goes 6 figures.

I agree, they create some volume and people start to trade those forked bitcoins instead of very nice altcoins. Check the altcoin market, it has been dead for almost 2 months and the prices can't go up, even a little piece...

Hope those bitcoin forks come to an end and we take a deep breath.

We are having that sign already as bitcoin hardfork has changed the mind of investors to get free splitting coins after the hardfork and actually some of the altcoins have started getting dumped to the level it might not recover. I have see some coins that has gotten a strong foundation from the beginning of the year are there are now getting dumped because of the investors converting them to bitcoin. Most of the altcoins are not going to survive this and it see there are getting destroyed to me too.

14-15 November, as i know..

all my coins have depreciated, it's painful to look at it. I hope the situation changes after the fork

I think the high bitcoin price will lower the price of altcoin but it will not make altcoin damaged by biting the bitcoin not long, but if the long bitcoin rise then it will destroy the bitcoin. because now many ICOs have failed due to the rise in bitcoin prices.

The good ones will recover. But there are tons of shitty altcoins out there which may not. Because of that it is important always to do your due diligence and know in which ones you are investing and most importantly, why?

Altcoins (lets call them cryptocurrencies, altcoins is kinda demeaning) will recover once the 2x fork is past. Just wait and see. We might not see all time highs right as it happens, but other cryptos will definitely start gaining ground against bitcoin, thats what most people are thinking.

Definitely possible: after all there's no reason why it's shouldn't be


As suggested it could even be a good way to weed out some bad currencies and promote the good ons

I think once BTC corrects alts will rise like 30-40%. It will be interesting to see if this is sustainable for a period or if they drop immediately again.
I think though that a bottom has been built around the 16th of November

Definitely, the due diligence is something that all investor should do. The corrections will come, the main reason for people are going crazy with the bitcoin is because they know what happens when a hard fork occurs in its chain before the first one in August it just panic and the price flatten to $1800s and it soars before the BGold and even more now. There are other factors like been used for the regular market as 'future' asset from January on but will correct as well, and if the greed of the miners doesn't calm down bitcoin will never become mainstream, after all, who will pay $20 of transfer fee for a buy of $50 bucks? Altcoins, good projects, at least will see their bounce back after these events for sure.

There are way to many bitcoin forks. This year there were like 4 already? The altcoins, especially the good ones are taking the hit... I don't like it.

Haha yes it's very painful, when i bought alt in red (it would be green again) but suddenly continue to down and btc started rising like crazy
at least i bought a good coin

Good alt projects will rise and rise to new highs next year. This bitcoin fork is almost here and hopefully
there is no other fork for a long time so alts will do fine.

I believe it is destroying Bitcoin itself in long term as well. However, we are about to see the last hardfork for now. After that, it should be the rise of altcoins again. It has been very difficult a few months for altcoin investors as well as altcoin developers. I have a feeling some of these developers did not even share some good news as it would probably not have good enough impact in the market. By 2019, we should see some good days for altcoins.

it only possible if the price of bitcoin will keep rising it will be hard to recover in terms of price in bitcoin
but if you will look at the price in dollar it will only the same or small lose or sometime you still make some profit

You already answered the solution for it.
Abuse the buy button. ;D
Then after all of this you will feel more profit than what they did with those forks.
They have sold their alts in exchane for bitcoin but what do they get? Maybe a shitcoin?
While you are so sure your supported coin will come back up.

Bitcoin forks are the new scam in town so altcoins, the old scam, is going out the window. However, this is will even more short-lived than altcoins because people are already realizing that you can't actually copy Bitcoin just like that. People are used to instant gratification so they think they can just get a lot of power and money and make it reality, but it can't be so anymore with BTC.

I also thought of the same thing. Eversince those fork began, I noticed that altcoin prices started to decrease. I don't know why they keep on doing those forks. It is not healthy anymore for this community especially for those blue chip altcoins. It's dragging them down. They just want to get an extra money without doing anything.

Also, one who is unsure if the BTC fork has anything to do with alts bleeding. I personally think alt buyers have had unrealistic expectations created by colossal profit-taking over the past six months and are finally now waking up to the fact that this is unsustainable. The running meme in Ethtrader subreddit lately has been, "good news? -20%"

The unrealistic expectation of profit is far outweighing what is realistically possible regarding the actual technology itself.  A project in the current climate would need to release the iphone9 to get a response from their base proportional to the enthusiasm generated from buying into an ICO and selling for 5-10x profit in 2 weeks time once it's listed on an exchange.

It is definitely a good time to buy up some alts, although the fork may have had a lot to do with the current price of alts you will see over time that this is like a season each year we will see a similar drop around the similar time with or without a fork.

We must just wait for the BTC fork cause then altcoins get its balance. BTC is the leader of coins and it is in rising right now but that will last until November. Some altcoins will fail but not all. Some will profit from altcoins then. Those who have the investment in altcoins must be patient.

this is my analysis for the BTC and alt coins if the BTC goes up or down alts collapse if BTC goes sideways ALTS pumps.
regarding the fork yes it will destroy alts value temporarily but it will comeback sooner or later

I don't know whether there are any correlations between bitcoin forking and altcoin price right now. It may just be since the price of bitcoin has gotten up so much in recent days that altcoins are naturally becoming less valuable.

Just my two cents, just because a bitcoin fork happens doesn't mean that alts will be 100% going down.

Once a correction hits bitcoin, alts will go back up like today.

after 2x fork there's Bitcoin Silver.. itll be like what, 4th fork in 4 months? and than they will do Bitcoin Copper and Bitcoin Ferrum forks..

P.S.

Sorry, but wrong.
Pretty simple - every forks yields free forked bitcoins equal to the amount you hold during the time fork occurs. So before the fork everybody is greedy, sells alts and buys btc for free stuff. Greed drives the price of btc and money to drive it were taken of alts investments.

certainly greatly affect the price of altcoin

Altcoins were always paired with the value of bitcoin. When the bitcoin price increases, the altcoins showing decrease in the market is phenomenal. Also, as the above quote states there's nothing as altcoin downfall just because of the price increase happening with bitcoin.

I think they have correlations between bitcoin fork and altcoins. Price has been like this ever when their is hard fork, altcoins are in the red zone while the bitcoin is soaring high. However, altcoins price are always recovering after this event but I see not all altcoins are having up its price.

Yes. Somehow it affects ALT coin because of traders shifting their trades to BITCOIN as a result to ALTs being dump. These Forks will soon make confusion and suddenly panic to crypto-world , greedy individuals implementing forks too soon and at fast pace for free money and to "PUMP" bitcoin price. That's why I believe bitcoin price need to be corrected it's way overprice than it offers, there are lot's of alt coins faster and cheaper. -- Anyway, Let's just see the brighter side of Bitcoin forks. ALT coin bleeding so buy and grab some cheap coins/tokens.

Altcoins take a huge dive in the upcomming weeks of the fork and recover at some point after the fork. Thats the pattern we've been seing. The problem atm is the steady stream of forks thats being announced.

I would assume that the effect of these shitty forks will start getting smaller. The segwit forks have a big effect on the market because they're bigger forks. Smaller (and in my opinion) retarded forks like Bitcoin Gold don't do that much. Bitcoin Gold only affected the market a little bit, and I think most of it was in anticipation of S2X anyway. Is there any other big, actually useful fork coming after S2X?

These things move in cycles. The ICO rush, and to a lesser extent the ERC20 airdrop rush, both helped fuel the ETH bubble and to sustain the current price levels. I think that's what we're seeing now in Bitcoin, too -- additional incentive to hold BTC due to airdrops/dividends.

One thing to keep in mind this time around is that there is no replay protection on this fork. This might not be "free money" because it could come with a lot of confusion and lost money. I have a pretty good grasp of how to secure my funds and I know to be careful since there is no protection from replay attacks. But I'm still nervous. Hopefully Jeff Garzik comes around and they add optional replay protection back to the repository.

I really hope my alts start going up again.
I thought buying them on the dip, which i did, but they are already 50% down... it looks like they want to fly, but sell walls control the market to give the bitcoiner whales the time to get back in at the right low price .
 It's clearly obvious this is just a manipulation of the market, but, if i was a whale, i would just do the same and hopping alts are not high when i want to go back to them ! ::)

With there being so many alts it makes it harder for any one alt to shine through. With all the forks of bitcoin it helps bitcoin more as when it forks and new coin created it very quickly gets converted back to bitcoin.

Don't think the forks are to blame, but Bitcoin itself. Bitcoin is simply on the rise and Alts simply wait for a fork to happen and hope that Bitcoin dips abit. But Alts have potential to be great if they have a good team backing it.

If I'm not mistakened 16th of November, plus another fork in December (bitcoin silver)

Yes. lets hope the forks end and we can have a bit of stability! That said I cannot see it happening unfortunately!

Yes it is very possible so the best way to easy earn monay is invest in the most popular coins and looking for coins whose look promising

BTC is the main coin in cryptocurrency. So when comes forks specially hard fork, BTC price drop. due to the matter altcoins price will drop.

Of course it's possible, but I think good alts will bounce back after the fork.