Bitcoin Forum

Why Altcoins prices decrease when BTC price increase?

I think people are getting out of altcoins to quickly jump on the btc train again. I think for 3 reasons;

FOMO
Btc up 70% last month
People want some free tokens with the upcoming fork?


Seems like a good time to buy altcoin right now, hoping value to go back some time after Segwit2x. 

because alt coin prices are based off of BTC price. Most of them will have -btc or /btc next to its code. This means price is based of btc. when btc does a bull run some alt coins can still rise in value but most wont be able to. but when btc drops alts value increases relatively to the drop if their price is based on btc. Furthermore high volume coins such as btc, eth and ltc are traded based on usd. so btc/usd or eth/usd. Unlike altcoin/btc.

For bitcoin to rise, people must buy it, they can buy bitcoin if they have usd, usdt or altcoins, so they are selling their altcoins.

Technically, it increases too when it comes to the value of satoshi.

However, because everyone wanted to convert their "Alt" to "Main" (Bitcoin)

Everyone would compete to lower down their price in "Satoshi" (Bitcoin's Unit")
This results satoshi of coins goes lower for to be sold faster.
Hence, Value of Altcoin drops

Most probably because you are watching the price in comparison to BTC. Alt/Eth or Alt/USD may give a different picture.
And bitcoin is also the prime trading pair for altcoin, when the price of bitcoin is on the rise, people tend to hold their coins which results in low buy order and higher selling pressure.

Because people are too greedy when hear some rumour about price. People are crazy when heard bitcoin price got pumped and as soon as possible they are selling their altcoins. And vice versa with altcoin which got pumped.

every altcoin can only tolerate a certain amount of dump because there is a buy support behind it, buy support is all the buy orders that you already see in the order books or the buy orders that are placed afterwards in the order book.

when bitcoin is rising people expect altcoins to get  dumped. also so many others move their bitcoins which were placed in altcoin buy orders (the buy support) to bitcoin/fiat market to sell on top and buy back in the dip. that removal of buy support means there is nothing to stop the drop anymore and the altcoin drops become big. and it is a ripple effect, when the first drop starts the panic selling follows and the dip becomes bigger.

Bitcoin is base for altcoins. When price BTC grow up, people want sell coins and buy is low. Possible that you watched price compard to Bitcoin. You will be  must watch alt/eth, alt/usd what can give enother picture.

Altcoin prices depend on bitcoin value, because bitcoin is a king of cryptocurrency. I supose one of the main reasons is because you can use it like fiats to pay with them goods and services. People that are not familiar with cryptocurrencies have heard about bitcoins, but mostly have not heard about other cryptocurrencies.
We have witnessed that due to anounced hardfork, cost of bitcoin was increasing because people started to withdraw altcoins and buy bitcoins. Now when the fork is cancelled, I am pretty sure that the value of altcoins will increase, while the value of bitcoins will decrease a little bit.

because people move to transactions in btc not to transactions in altcoins its mean there is no buy in altcoins its make altcoins low and difficult to up