Bitcoin Forum

I see this scenario to happen before next larger move of BTC up:

BTC will slide down for like 5-10%, ALTS will go down double that amount at least, BTC will gain again even larger dominance and after that it will go again even more.

Your thoughts on that?

I also think this can happen, as i already see this happen on past months and the altcoins i think will need a bit more time to grow and this can happen only if people will start buy more coins.

I'm not skeptic of the potential bull run but that's how we see the market, there will be some upcoming correction or maybe just few dips. Just be prepared with whatever's coming to the market, whenever the market rises up expect that it won't last that long but if that lasts long then it's totally increasing it's more dominant favorable for the bulls. Like the comment that I've read before commenting here, we need to wait the reaction of the market when Binance allows orders again.

There will be some corrections but I don't think it will be that low again, some just bring back their alts into bitcoin. Maybe those who set their goal to reach BTC even at this rate already remove some and still decides to hold some like I'm doing.

Hopefully that this speculation of yours will going to happen in favor of bullish run, as we also knew that Crypto currency market is really unpredictable that this current market progress might be the big whales trap in which it will just make us to be disappointed in the end.

I may think that Altcoins will pump also after this BTC surge, but it takes awhile seeing it not moving greatly. There is something to think that investors will keep pushing BTC alone to recover and not with altcoins.

I hope it won't be like this and altcoins will follow by then. We surpass $7k BTC price in just few days and it feels that it will go straight for $10k. 

It is very likely to happen, since bitcoin also has not undergone a correction even after these last movements have occurred, and the case of the altcoins if it is normal, because when the bitcoin rises, the altcoins go down and in the same way if the bitcoin lowers the altcoins go down, the only way that is considered that the altcoins follow a movements bullish trend is when the bitcoin take their bullish trend road, because my bitcoin go up, the altcoins go down in price because people sell altcoins and they buy bitcoins to not lose the movement, and once the bitcoin goes down in price or suffers a correction, the altcoins will go down even more and it is the ideal move to buy altcoins so that when bitcoin takes back its bullish career the altcoins follow it and generate benefits from a x2, x5 and up to an x10 of the same altcoin. This scenario is likely to happen, as you claim.

Of course all this is invalidated if the bitcoin makes a correction and comes back to $ 5K because if you do something like that it is because you will find offer at those price levels.

altcoins have already been going down ever since bitcoin started to rise but people miss it because the only website they check is coinmarketcap.com and it reports it in USD terms instead of in real value which is in BTC.

but you are correct, in case of a bitcoin price correction there will be another type of altcoin dump like it always happens.

that is why as a trader in this market you have to know your timings. altcoins had their time for a couple of months prior to this rise when bitcoin price was stable. in all those months many altcoins got pumped big time and all the experienced traders increased their bitcoin wealth. now it is time to come back to bitcoin which why they are all getting dumped.

The speed it will take to eat back the 5/10% drop would be a factor to take in account. If it happens to slow it will take out the confidence and make recovery harder. 

This is due to the fiasco that happens with the Binance Exchange but I think Binance had this taken care of and they are back in business track again, Well, the value just got down a little so no worries on my part and besides the price is still doing great, This is just normal when bad news really happens this is the result I think we should consider that when something like this may happen in the future.

People have their own price predictions, and from my view the market after a unexpected price increase have come low once again. Even by the time of price increase there is no much big growth with altcoins. Now most of the altcoins carry over the growth as there is no big growth in mutual connection with bitcoin reaching $7500. Once again we can expect a good recovery at the shortest.

we've already just had a 10% drop overnight---9 straight red hourly candles. similar drop in altcoins too. what now?

that may have marked a significant top for BTC. however, one decent possibility is the drop last night was the first leg in a triangle or WXY. a day of sideways could spawn one more leg up towards $8k.

in any case, i think we'll see a dip to sub-$6k in the next week or three. i'm really not quite sure what'll happen to altcoins in this scenario. when BTC does medium term sideways-ish pullbacks, alt/BTC pairs often recover and pump until BTC starts rising again.

Correct, for those that look at the price of altcoins in dollars it may seem as if all the market is going up and they are happy but for the people like me that care only about the bitcoin I am holding I am seeing that almost all the market is going red, so altcoins are crashing hard against bitcoin and I do not expect this to change any time soon because if bitcoin begins to crash then altcoins will crash even faster and if bitcoin keeps growing then altcoins will not grow as fast as more investors realize bitcoin is the best choice at the moment and keep putting their money in it.

I'll guess that if it's clear BTC is on a truly powerful and sustained run then alts will catch a whiff of that. The main emotion I'm seeing is still disbelief. Once that turns to something approaching confidence then we'll see what's what.

People celebrate the demise of altcoins, but what we see right now is just a temporary occurrence.

I'm sure that when Bitcoin starts cooling off, altcoins will pump to extremely overbought levels and decrease Bitcoin's market cap dominance to 50-53% where it hovers around normally. We have seen it happen more than once already.

Another thing is that when Bitcoin's market cap dominance approached the 50% mark not that long ago people said that it was a useless metric, and now it's playing out in Bitcoin's favor it suddenly matters again?

indeed i've seen this cycle replay enough times not to plan on the death of altcoins. they'll bleed against bitcoin for a time and bitcoiners will celebrate---just as nocoiners celebrate when BTCUSD crashes. but eventually, like a flip of a switch, alt/BTC charts will see face ripping gains for weeks and months on end.

i'm a bitcoiner at heart, but there's no easier way to accumulate bitcoins than a legit altcoin season. don't miss it!

i personally have never celebrated it. i weep for this market because what Satoshi started with bitcoin has turned into a money grab pump and dump with altcoins. i can't remember last time i saw a new cryptocurrency that was created to solve a problem like bitcoin. all they do is premine, ICO (fund raising) and pump and dumps. that is why they get dumped when bitcoin moves.

obviously!
that is why they exist. whenever bitcoin traders can't make same profit with bitcoin (bitcoin cools off and becomes more stable) they switch to altcoin market to increase the profit they made so far.

Any analysis to backup those predictions or you are just guessing?
So you think that BTC will go down 5-10% and altcoins will go down 10-20%,but for a short term.
This is common sense,altcoins always have higher price volatility than bitcoin.The main question is waht will cause that price spike?

Right, this is what you call volatility. There could be large swings in couple of hours. Other's might see this as unexpected, but for more season traders this is a golden opportunity to earn during this large swings. Right now though, the whole market is pumping, bitcoin crosses $8k and then some alts in the positive 10% increased.

Alts are already quite down right now so I do not think bitcoin going down will make them go down even more, I think if bitcoin drops about 10% in price then altcoins will go up a bit, they all have gained profits in dollar value but lost a lot in bitcoin so if the price of bitcoin goes down unless altcoins dollar value gets affected we are going to see them go up.

I am not against bitcoin going down a bit and then going even higher up, that makes sense, that happens in trading all the time and it tests the support line and if the support line is strong then it goes beyond the resistance, that is totally viable and definitely could be done. It is only the altcoin part that I do not agree, not that I am some sort of expert but it just makes more sense my way.

I don't think the exact thing would happen. We all know how unpredictable cryptocurrencies are. We all have our own predictions but as for me, altcoins would just soar with Bitcoin because most of them depend on its value.
Bitcoin could still rise higher than $8k on my own opinion.

Bitcoin is showing big jump quite often. As a part the price of bitcoin has crossed $8200 suddenly while there is no growth with altcoins. Particularly ethereum sits at $240 and expect good this might move further same as bitcoin. This is kind of a price fluctuation, and soon a stabilized move towards a new ath in a steady manner.

This time altcoin has already started to growth and ethereum's growth can be a signal for the whole of altcoins to follow it. The price of bitcoin will stable and it will be waiting for altcoin to follow the bitcoin.
$300 or $350 should be the best rate for ethereum later before bitcoin will start to increase again. A signal from the altcoin market has already appeared and this is the time to hodl our altcoin.

Most altcoins are going so fast in the last 2 days while btc is still hovering at the 8.2k. I hope btc will get enough energy to breach the 8.2k barrier and rise higher next week.

My thoughts is only bitcoin up followed by altcoins. Only speculation and not prediction because that is actually what i want. If bitcoin price keep like this, it will be famous again and more people know about it.

I knew I have read something of such before, thank God I am seeing this again, this op must be a guru in analyzing, I think the time he predicted this, bitcoin was just above $7k, and low and below, the price actually dumped by 15% and from there was when bitcoin jumped within a short period of time to $8000.

This time around, I am waiting to see if bitcoin movement now plays by the rule, if it does same this time around, then I will take this as a strategy to be taking very big profit.  I have not really been focusing on alts for now, but seems they are also following too, let’s see what we can get out of them.

I can attest to this too, most especially ethereum, the rate at will ethereum community started pushing ethereum high became quite alarming, and now that bitcoin is forming a consolidation value which I am still not sue of, I think most altcoins will really have a major breakout.

Isn’t this exactly the pattern it took in that last Bull run, I just hope that the whales are not trying to use the same method again, anyway, I wish that all altcoins really surge to so that I can harvest some of my investment in them and close my deal with alts, right now from next year, I want to focus more of Bitcoin and few great projects that are in the market, unlike in the past that I gathered majority of low quality product projects.

That may possible to happen because its to far before the end of these year and bitcoin still a lot time to expand its price by remaining quarter.Even though bitcoin quite drop this time, but i believe it will bounce back that may double or more from its declined price.

Of course we would be a little think that a bull run probably happen, but what happens now certainly makes our hopes fade, the increase price is not more dominant, the price increase does not last for a long time, it means bullrun has not happened yet. correction still often occurs like happened today. OP was right, the price will drop by a few percent, so does the altcoin, and it will probably rise again afterwards.
The good thing is we got chance to re-buy

That's a great analysis because the drop is happening now almost 8% drop with bitcoin and all the altcoins are on the drop mode again. Its funny to see many topics like this, and I'm actually staying most of the time on speculation because I know many people will share their thoughts about the pump and dump of the market. Yes, the market will recover and I see for the rest of the month BTC will on pump.

the recent days proved how this whole market is only following bitcoin price and how everyone is only focusing on increasing their bitcoin wealth. once again bitcoin started a simple correction after a big rise of nearly 100% and that initiated a mass dump in the altcoin market as OP also mentioned in his post. that simply is showing the money flow that is always in direction of bitcoin whenever bitcoin is making a big move. the only time that reverses is when bitcoin becomes stable.

You mean to say that a bull run doesnt happen yet but what only happen is a bull trap  ?  You maybe right because the price drops fast but this does not cause for our hopes to fade because we already see that bitcoin can still do amazing things  .

Yeah that is the advantage of having a correction  . We still have another chance to buy back and prepare for another possible bull run ( real bull run i mean )   . Btc increase lately but i dont see that alts follow . Alts are still down so its not shocking at all

Bitcoin will maintain dominance and altcoins will get the crumbs. Like was said before, if bitcoin goes up ten percent then altcoins will go up like 5 percent.

Still better than holding cash but bitcoin still rocks it.

Bitcoin in it capacity has been dominating the crypto market since the inception and I don't think this is going to change in the next 10 to 20 years to come.  A friend of mine advice me to only hold bitcoin as others coins cannot grow without bitcoin and that means there is no need of holding other coins outside bitcoin, though I agree with him partially, but I have see some tokens that are not well know makes over 200% gained from the last week bullish trend that see bitcoin gaining around 52% for the week.  "If we can have understand how this market work there is no way we would not make profits from it".

Some of the well-known alts are already green today though they gained not much. What is clear here is that alts are all depending on the movement of bitcoin if it is up they go with it and when down so are they. Bitcoin is resting in the vicinity of $7,300 as if relaxing and thinking hard whether to continue fighting the $9,000 mountain range or be a loser by getting back to its bearish cave. Where the bitcoin beast is going whether to be a bull or a bear remains to be seen but of course the overall market sentiment is favoring the bull.

that can not be called a gain though. it is only green because after a big drop everything comes back up a little. not to mention that once again you are looking at the USD value of the altcoins so they should show "green" since bitcoin price has been rising after the big drop!