Bitcoin Forum

Everything is red because btc is dumping, after btc dump there is a btc pump so alts will continue to fall. Only when btc stabilise alts can grow. Don't forget that.

Yeah totally agree

That's right, after all. Sure, some alts will have their own booms every few months, but after they do that, their price after all only relies on how well Bitcoin performs. So when alt holders come out and say Bitcoin is dead - Bitcoin Cash for example is the worst - they have to realize that the entire crypto market depends on Bitcoin. If it rises, so will alts, if it falls, then alts naturally fall. So whatever people want to say about Bitcoin, dominance this, use that, tech not good, just remember where all alts came from. Where all cryptocurrency is born. That is with Bitcoin, where else?

100% agree.

also don't forget about all the altcoin bag holders who are now waking up to see their "portfolios" all in red big time. each going down 20% or more over night sums up to a huge amount. now they will start their panic dumping journey to get rid of their "portfolio" and that can potentially crash the market even more.

This is a very normal reaction. Due to how most altcoins are traded against bitcoin, you will actually find the FIAT value (real world currency value) of the altcoin remains fairly close to the price before the recent pump of bitcoin, but because it traded against bitcoin, i.e. you buy it with bitcoin, then the price against bitcoin goes down.

This in turn usually creates panic for most traders, which results in them selling their positions to hold bitcoin during the pump, due to the price of bitcoin increasing, their wealth appears to increase. But the way that works, is they would need to either sell their bitcoin back for FIAT once they heat the peak, or return it all into altcoins, to get a better price on the altcoin they sold previously. Once this moment happens, and bitcoin starts to consolidate, you will find the altcoin prices start to return to their normal price.

I wrote this in a rush so hopefully I explain the concept properly.

Short answer, yes this is normal, and their drop is based on price of bitcoin, not price of coin to FIAT. Best thing to do in situations like this is to hold, and not sell your altcoins at a loss. Bitcoin always has dips and pumps. The price will fall eventually again, and altcoins will pump again.

yes that's right .. alt down the average 20℅ - 30% bitcoin like the parent of alt .. and maybe alt will go down for a long time ..

I not really sure about this, but all altcoins are cheap and you can split your balance into 2 parts. Part 1, buy now and part 2, buy it the price go lower or not.

Either way, time to buy the dip :)

Agree. Buy some at current dip, if they fall more, buy more. The good projects will survive and get back on their feet, the bad ones won't....but we'll only invest in good ones, right? :)

This is possible that many altcoins will be dead due to the dump of bitcoin while this currency can easily adjust of rising. But that doesn't mean no altcoins can make a recover so I believe eth can do that.Secondly, as long as bitcoin will  remain as the most expensive  currency that will be also its weakness to stop getting more investors. Still altcoins will always the choice of Al wise investors 'cause it is more easily to earn a double price from altcoin than with bitcoin if the price is seems already to much for many investors.

this wont be true anymore. We see more adoption of strong projects  like LSK NEO Ripple ETH etc. investors are more confident to flow money across already settled projects besides just btc.

Stop picking on noobs! Markets fell enough for a good pump back up, dont need it falling anymore.

Go back under your rock :)

I think so too, btc is very influential on altcoin, this will be hell for the person holding their coin, i hope this only takes a little time to make it normal again because i still have some altcoin that i hold

Its just under going the usual correction that happens after every ATH across the years, its just that a large amount of money is involved this time around and more people have come on board late this year. Which has just magnified a normal casual happening of crypto world.

early this year is indeed hell, I am not sure this price reduction will not be long, because I observe everything down an average of 30%, luckily I've sold half of my coin at a high price yesterday, I still believe that altcoin exchange rate will recover even more than ever

You are right, But it take more time in crypto market. Most of competitors are selling the Bitcoin in continuously. This also attack in the Bitcoin value. Some broad minded people are only hold the Bitcoin in market. Many traders are invest in Bitcoin and Ethereum these both coin are great profit in future environment. Some of the peoples are understand the market situation. I hope this year is good growth in cryptocurrency.

We don't predict a date for this, this is up to the community of cryptocurrency. Saying alts will fall more is not a reasonable thing. You should watch the market and see in real time. I think we will find an equilibrium soon.

I expect that alts that are still unpumped will follow Bitcoin when it will start to bounce soon. After we found a bottom at Bitcoin the people will start to rush into altcoins again. Last year we saw the same pattern, a hand in hand pump  :) The most altcoincharts are still looking good and they have not dumped so much like Bitcoin.

Yes possible that alt price will continue to fall more once btc will become stable its value. This market value has been unstable and we couldnt predict whats the worth price of altcoins. But hope this will a good to buy and hold for long term.

No reasons for panic , just hold, because is it too late to sell anyway  ;D. And i never sell with the losses.   I predict the market will recover in couple days. Just annual winter correction, look , we had the same last 3 years.

I think people start to understand the role BTC is playing in dragging the price of this coins up, I just hope the dump will stop soon and new air breeze on the market, most of these panic is been fed from FUD

Don’t sell anything. The last three years it was the same story.
It would be nicer to buy this moment. I bet in a couple of days everything will rise again.

Yup, people that had some cash reserves should do well once the V bottom in BTC completes. (I'm expecting a V bottom...)

The 'alts' are getting killed which can be seen as a good opportunity for those waiting to pounce on them.  I'm debating on whether to accumulate enough coins for a Proof of Stake masternode....  The time is right for sure.

alts prices will come back when everything caims  down a bit

I agree that they will still fall, especially when bitkoin starts to grow. But, you did not lose anything until you started selling them. I personally do not plan to sell anything and today I even bought another with a good discount. Positively adjusted and believe in quick recovery. Patience to all!

I have been told that Chinese festival is what is driving this sell off, I could remember last year something like this happen but because BTC has done exceedingly well no one want to see the price go down this way

you have already fallen far enough, do not go into anything that has risen too much. otherwise it goes a lot of money. Some people like to ring their money.

It is not possible to happen since most of the coins in crypto currency industy are starting to fall down. Moreover, decreasing price of bitcoin together with the altcoins are part of the system of crypto currencies.

I think it is happen because most of the users withdraw their balance in their accounts, also fluctuation and exchange of coins in the market was continuously dropping down.

You're late, we already moving up... :)))

Price altcoin fluctuations pretty much depend on bitcoin. If bitcoin continues to depreciate, other altcoins are difficult to raise. I think that this time is very good for you to invest in altcoin, choose the coin of low value and hit the nearest bottom, invest in it, the opportunity for coin to grow strong. extremely large.

there is no right choice unless holding back until market conditions improve .. rather than sell for a loss.

Yesterday was a perfect example that Bitcoin is KING.  When the KING is sick, it affects the whole market.