Bitcoin Forum

I just read one thread about the red market "blaming" Vitalik Buterin.  I find that laughable.

The real reason is people are starting to bet on BTC again and selling alts even cheap.  It always go through this cycle before the alts really take off.  Some also use the opportunity to collect more alts later...sell now (high), buy later (low).  It can be a good way to play but very risky.  I used to do it but learned I don't have the nerve to be in that game.

Play it, or HODL...both are valid ways to go.  Just don't panic, bullish market is coming...BTC first then alts (may dip a little but) will follow. :)

True that altcoins are showing red not just against fiat but also bitcoin. Bitcoin has been having a good rise last few days so perhaps holders of alts have beenselling to buy bitcoin. No doubt once they make profit they will sell and buy back into alts.

I think there is no need for any news which pump or dump the market, I also don't think vitalik buterin has any effect on this. It will naturally rise or fall nowadays.

I don't know why people are panic about little dip in the market, sometimes it will happen there is no need of panic about the market. Soon they will recover don't worry about it, just enjoy your weekend.

We are red because of Chinese New Year

Market behaviour isn't hard to guess. Market is red because some people (basically more) believed bitcoin or their coins won't raise and started dumping (or profit exit). It is prolly because 10000 dollar worth bitcoin still doesn't give enough trust or safety feelings.

I think that bitcoin price has a direct effect on altcoin market. People view bitcoin as the main cryptocurrency. So, as people see a positive movement on bitcoin price, people sell some of their altcoins to invest some bitcoin. Same goes with bitcoin, people goes back investing in altcoin whenever bitcoin price crashes.

I think BTC is playinh its part here, but also if one follow closely what is happening in Ethereum space, it is against the censorship resitance that was sold to people then, the improvement proposed has caused alot of discontentment and the project is turning to something else and need to be corrected before its goes out of hand

I cant see why would people blame Vitalik Buterin. Anyone could enlighten me?

But BTC rising->everyone selling alts
If btc stabilises->everyone buying alts
usually happens like this, gonna wait a bit to buy some alts.

It is true, but not risky i think. Now will be good time to buy alts when are red. When bitcoin will be selling alts grow up and give us profit. It is not hard, it is very easy profit for me

so really such news is just trying to manipulate the market. as experience shows, the market has never been stable, so a sharp drop in prices is not at all strange

There is a threshold percentage growth or decline where alts follow BTC.  Outside that, they may go opposite direction.  You better pay attention at the graphs more.

   Cycles have that name for a reason. Everything cycles, and what
traders do with Bitcoin do with alt-coins too. Panic makes your judgement
blurry, if you are buying or selling do that cause you plan to earn from
that.
   What ever some important person do and say on TV can inflict on markets.
Everyone saw last year what happened with JP Morgan and other investment
companies announced what they think about Bitcoin, along with news with
China. People started to sell Bitcoins to buy Bitcoin cash. Never underestimate
power of the news.
   

This is really looking like 2017, if people recall, there were two distinct patterns that alts followed in concurrence with what was happening with Bitcoin. Early 2017, like early 2018, Bitcoin was beginning its move upwards of $1k and alts were dropping. This was attributed to people selling off alts to retake their shares of Bitcoins. But remember in spring when Bitcoin went towards $5k and ETH, Doge, LTC, and almost every alt was making new ATHs? This was crypto all in same mode.

Now we all just came off the "everything red" mode. And now it's back to "opposite of BTC" mode. Interesting yes?

When haters are blaming vitalik and that  was totally worthless. I was seeing how so many haters are blaming vitalik through every thread they are created to get a lot of attention from others.

This only to get the stabilization of the price and i don't think if we are on serious problem about that. bitcoin falls and altcoin follows.


I don't know why are you always linking the chinese new year with every correction of crypto currency.

same analysis here, i think if bitcoin will keep on increasing it's price even not another ATH like close enough to its ATH and become a bit stable that's the time altcoins will start to pump, what i notice is when bitcoin start to move upward people are taking places and placing their investment in bitcoins that's why alts are starting to dip.

Not at all.. Only a few altcoins of mine are going extremely down today because bitcoin is rising a lot, but not THAT much as everyone thinks.

Only those crappy alts are drowning.

Yes I don't think you have much to worry about in the long run if you are holding some good coins.

This is all pretty normal, alts have slowed over the last 2 days while BTC has taken off, end result is people now have more faith in BTC so are selling alts.
Also it's a tiny dip, you'll see many many more of these throughout the year.

a lot of people predict in march or april bullish coming on btc, but it will be hit like 20.000 $? who knows, stand and prepare your money, start for riding bull ;D

It's normal dont' worry due to weekend sell and you are right this was the cycle before over and over again because of the traders and liquidating and on the rest. But for us this the perfect time to buy on dip and take profit when happy. Just always go with the flow or ride with the waves don't fight it and don't panic. Goodluck everyone.

i think vitalik says absolutely right about cryptocurrency especially ICO in ethereum network..

Totally agree! Do not now sell altcoyins to yourself at a loss, in pursuit of bitcoin! This is not profitable, since the price of bitcoin is very high, and the altcoyins will have to be given practically for nothing!

I think the confusing tweet from Vitalik will add weight in the continuing decline of the market if he also stated the reason why it will go back to the bottom. As of the moment these tweet might view by others as a big joke. Technical analysis says that it will continue to go up contrast to his tweet.

I guess you are generally right in your way of looking at the market trend right now. Blaming Vitalik Buterin is a far-fetched idea. It is pointless. The man is a very strong advocate of cryptocurrency and he knows what will happen to the entire crypto market if he begins to go against it. Betting on Bitcoin right now is the best idea since it has lost a good deal of value in the past several weeks. And since it has already began to go up, it is but natural that people will think that the red days are gone and it is time for the green to take place, thus the shift to Bitcoin.

Better to do our own assessment instead of listening to someone who only deals with his own perceptions, if the market moves according to him it's because people do some panics but if we will just calmly understand the situations and continue to believe that the market will be healthy again then we are safe with any issue that may occur, this business needs a lots of patience and dedications if we are aiming for the best then we need also to do our best in order to succeed.

And anyhow, the point is there are still a lot of people closer to bitcoin / crypto, who are still doing to buy when the price / market looks reddish, because after all., it can be the one strong answer to buy and after that., there will be increasing as well as considering with some predictions by some experts, that it will moving up.
Well yeah., no need to worrying about that redness, after a redness it certainly would be getting to a greener. For me, I'm also just keep holding to deal with it while enjoying the daily activities.

I like this and your statement that "we should not panic, bullish time is coming". Many of us here cannot endure the drop of price of our bitcoin or altcoin especially if the price is going against our position in a hard way. Holding and holding for a very long time is the best way to make it in this market. Remember, bitcoin and others coins cannot keep going up or down, knowing this will safe us from all panic.

hopefully it will, im already prepared to sell my btc when that happens, been buying bitcoin when it went down to 8k this month :D

It is very nice that the market is turning green today. The BTC dominance will rise again.

We already seen this kind of situation and yes this is normal behavior especially this is about market competitions. I rarely see btc and altcoin increasing together. It is more likely that when btw is high then expected that altcoin is low.

Yes you are right, money is being transferred to btc we can check that easily by looking at btc dominance that has increased in last 10 days.

I believe (or want to believe) the market is stabilizing. There is a balance between alts and btc. You can check it for yourself too.
When btc goes up more than . for example. 10%, alts also have a bull run.
After a bull run when btc goes up slowly like 1% or %5, alts are generally red
The same happens for btc goes down version. Anyway, hope this bearish market ends soon.

Vitalik is very known person so with every word he said would be a big impact to the crypto community. I agree with your last statement that what Vitalik says is an opposite. Soon btc will be slowly climbing and with the continue spreading of good news about btc it will continue to grow up.

I see BTC run coming before end of the month,

At which point most alts will be stagnant, everyone will jump on BTC, BTC will boost to say <15k

At which point BTC will remain stagnant and monies will flow to alts,

= 700bil global MC, and then gradual growth on the way to that 1 trill global MC!

If we feel confident in all altcoin we have then there is no harm in choosing HODL or take the opportunity to buy altcoin at the time the price is down, certainly would not worry if we are accustomed to trading. on the contrary, we will get a bigger profit when the market back up.

IMO,  maybe the reason why alternative coins is showing red in the market because Some of the alt holders selling into BITCOIN CASH because of its good news nowadays that tends also to rise,  so perhaps that is the common reason why also bitcoin has been having a good rise last few days .

Bitcoin is already at the level of 11k and not everyone will start investing in it, so people will gradually move into alts. And there is a field for activities and experiments.