Bitcoin Forum

Altcoins are down when BTC up, altcoins again down Even if BTC down. Why?

It's not always like this, right now for example, almost all market are in green

When people put money on market, you will see almost all coins in green, just sometimes people sell alts to buy BTC, it depends on news,  trends etc

This depends on the situation. What you describe can be explained in the following way: people are doubtful about the crypto market in general but trust Bitcoin more than any other currency. So when they see Bitcoin starting to do up a bit, they invest even more in it because of the FOMO. But when something happens and people start selling, others also continue the trend, exchanging Bitcoin for fiat rather than altcoins. This is normal after all that time of the bearish trend. The trust is gained slowly, and the king gains the trust of investors faster than the peasants, so to speak. If Bitcoin grows stably, people will probably get interested in diversifying the investments again.

I think the latest changes from the BTC value today came from the community's optimism for the G20 summit that took place at the end of June. We all know the final decisions are derived from bitcoin. It seems that the show at the G20 will create a new milestone for the next boom of the market. bitcoin will be a pioneer in this preparation. So, Wait for effects from altcoin later.

because everyone who is in this market is in it because of bitcoin. 99.999% of them entered this whole thing because they heard about bitcoin and they all have faith in bitcoin's future. simply because it is the only solid project out there that is not created to make the creator rich, it had no premines, not fund raising with different weird abbreviations,...
so whenever they go to altcoin market to make temporary profit, they come back to bitcoin as soon as they see the price changing because they want to be a part of that change and benefit from it by increasing their bitcoin wealth.

It depends on where people put their money, when there is big demand on bitcoin people are dumping their altcoin to earn bitcoin. Sometimes also, they dump both BTC and Altcoins to take USD, there are also times when BTC and Altcoins are in demands and the market is green.

It happens like that sometimes but not all the time buddy. Some time, if there are new investors bringing in their Fiat currency into Bitcoin the increase in Bitcoin Market value will affect all other altcoins positively but if the investors are the one withing and they decided to move their altcoins to Bitcoin then only Bitcoin will be increasing in value while altcoins will either remain stagnant or move in opposite direction.

Often this trend occur due to the fact that bitcoin is seen as a major base currency against which every other coin are traded. Another reason for this trend is the wide acceptance of Btc over time, as soon as there is a little uptrend in Btc you see everyone wanting to join the train there by dumping their Alts for Btc.

Well it's simply because bitcoin is the king of cryptocurrencies. No one wants to miss the moving train, you either catch it or be left behind and regret your action. Bitcoin determines the direction of market and will do so continually.

Maybe, It could also be that most altcoins get pegged to btc and on both movements traded towards btc or a stable coin. 

There are times that this happens maybe it is just a coincident .
The market depends solely on the supplies and demands so the only reason that those events have happen is due to the investors taking their profit.
The crypto drops because they traded their crypto into Fiat and this isn't something new this has happened before.
And we couldn't really expect that when Bitcoin is up the alt-coin would be down because there are times that there would be new trader and fresh money to circulate in the market so that would increase both BTC and alt-coin.

You can't excpect all the other altcoins to get up and the whole market getting some movement, as soon as bitcoin starts going up, at least not in recent couple of rises since they were not a good as the price kept going up and down randomly, you gotta give it some time so that investors and people who are interested in investing in the crypto are assured that the market is recovering, and that is by looking at the price of bitcoin and seeing a good solid rise.

There is just a delay in the response to the sudden rise of bitcoin price happening so suddenly.
The other altcoins are now increasing in price especially litecoin which closely follows the bitcoin price since it was the first altcoin to be created from its predecessor the almighty BTC. ;D

There is no fixed correlation in between bitcoin and the rest of the altcoins. There were times that when bitcoin is up many alts followed the same patterns and there were also times when they don't. The influence of bitcoin with the rest of the cryptocurrency market is quite obvious and proven but it does not mean that the same pattern can be seen at all times. This is making this whole market very exciting, unpredictable and hopefully for someone who is good on trading also very profitable.

The market isn't the same every time, the variation happens relative to the bitcoin market in terms of adoption amd its real time usage which helps with the circulation of cryptocurrencies. More altcoins doesn't have a working product which are those falling low unlike the market of bitcoin. Most of the top altcoins follow almost the same growth pattern of bitcoin.

this question has been asking many times, basically each time altcoins get dumped hard. but you know what, the reason doesn't matter that much in my opinion because the only thing that matters is that for you to keep this in mind and know that it is a certain pattern that the market always follows. knowing that you can make better plans when you are trading and know when and where to put your money in order to avoid big losses.

Some alts follow the trend of bitcoin prices but some don't. I think, people who invest in projects that are relatively not so good, move their investment into famous coins like bitcoin. There are so many alts out there and it's impossible for all of these alts to be able to continue to go hand in hand with bitcoin.

I think altcoin is not entirely dependent on the price of bitcoin, but altcoin is dependent on sales volume, now when bitcoin has increased but the altcoin has not increased the volume of sales and purchases it will not affect the price. maybe that's the main cause

It is expected because altcoins are directly dependent on bitcoin. So if btc goes down, altcoin follow suit, and when bitcoin rise, altcoins with solid foundation rises too. If we can agree with  ourselves that most altcoins dont have real life use case.

Here's what I think many traders do:

When bitcoin is going up, they would sell all their altcoins so they can ride the bitcoin profit train then sell for a profit.

When bitcoin is going down, they will sell their altcoins for stable coin (USDT for example), then buy bitcoins at a lower price.

Can you see the picture?

because everyone just thinks about profit. no one wants to buy when the price has dropped or it has been predicted to go down. they will only buy when prices rise. this is a bad cycle, but we must admit this is the way to survive and get profit here.


now I want to ask you, are you going to buy a coin that you know will come down?

the answer is definitely not. that's the reason for your question.

I don't think so. Many altcoins can follow bitcoin increases, and some of them can increase in the higher price. People were making a profit from altcoin in bitcoin so now, and they are selling their bitcoin for making another profit in fiat. So if right now bitcoin price increase, that means, many people sell their bitcoin to make a bigger profit. But there is high demand from other people to buy bitcoin at a price now and perhaps, that people don't want to lose the chance to have bitcoin before the price increase too high.

But some of the altcoins already get down in this week, and maybe that is because of that altcoin cannot sustain their price in the last high price so they correct a while before they can increase higher later.

Not sure what charts you're looking at. My alts have been green in the past few days, ever since Bitcoin went up. Yes, there are times when it does the opposite but in the majority of situations, Bitcoin rising in value is good news for all of crypto.

Unless you're looking at alt-BTC pairs of course, then you generally see that red if Bitcoin flies. Like what happened yesterday.

If you are new to this . I can only tell you the reason is because of the demand for buying and selling of people in the cryptocurrency. Explain why it is so. In my opinion, the news of the past few days has affected prices.

Well, very good aquestion, and I've been thinking a lot about it recently.
During 2017 I invested my funds in bitcoin and altcoins in the same time.
When bitcoin grew, altcoini was growing even more but when the bitcoin began to fall altcoins have lost even more value.
When the crypto market began to recover, Bitcoin partially recovered but my altcoins have never recovered.
Why?
I guess because everybody know bitcoin and it's main entry point in the crypto market.
Everybody wants to have some bitcoin, it's crypto market leader but we have so many altcoins that people are confuse which one is good choice.

Most likely an alt bagger wished to entry later, for me it was alts sold went BTC and after it stabilize flow back to alts again. Sometimes its BTC > fiat which triggers further alts > BTC> fiat sells. These weeks alts already have significant growth when BTC is over 7k, big movements for top 20 coins. If the bull is real then some minor correction would induce more buys. Alts have to shine over these periods with quality exposure over the market. I re-positioned too much with BTCs movement and lost alot.

I personally think it's because this current bull move is coming to an end, and will be followed by a considerable correction. Even if it takes until Bakkt is launched in July before pushing the price back down to sanity. Remember what happened last time futures was launched? I'm waiting for the slow grind of accumulation. Altcoins will come later...

I noticed that too but it was only a few weeks before they will go with the price of bitcoin so for me they always follow what bitcoin is especially the price.

People are moving their money to bitcoin they are in fear of missing out, therefore the capitalization for the altcoins decreased but the 24h volume increased like crazy, that's what usually happens and to be expected since people seem to easily get panicked over the simplest move of bitcoin price but that's natural and not a wrong thing.

why ? simply because there is no demand for them . people these days usually invest for bitcoin because they see that bitcoin shows a sign of an incoming bull run and their decision was actually right because bitcoin did actually pumped up and its still expected to pump more  .  if you can earn easy and quick profits on bitcoin then why not invest all of your capital on it ?  its a wise decision than spreading your capital on other coins and waiting for the unknown  .

this process no one can predict, although it has always been so when bitcoin is up, followed by altcoins, now most likely the market has changed, many investors are not willing to invest in altcoins when bitcoin is growing.

I don't know the exact reasons why this is happened repeatable but for me personally it's simple because people will always be following market trend and such as today when bitcoin market were pumped then people automatically will trade for bitcoin so altcoins would be lack of movement even so if bitcoin price dropped then people usually attempts to seeking altcoins which is very potential to grow because profit are people main reasons including me

How many hours or days did you see the price movement of bitcoin and altcoins? Because your statement not entirely like that, maybe it's just a coincidence. Even I just think what everyone was said that the market of altcoin is depend on bitcoin price movement is wrong. Each altcoins has the own moving price because they have a developer who will try to update their coin system get better. They will find another gap for their coin can be accepted by some companies to be use as payment system or to be use as send money tool. You will know how the different it is if you often to se the movement price, I see your account still newbie and I have a conclusion that you don't see the price movement for at least one weeks or more than that.

Most altcoin are adjusting based on crypto value.
As we know, it's market based on supply and demand in complex trading situation in order to achieve profit.
Some altcoin will uptrend if the demand really great, that's it and nothing strange at all

It is not really like that always. If you look at the graph of both variables, the trends change over time and no one can really say what is the exact reasoning behind all of these. Because, most of these are just speculations. However, there is always an advantage and disadvantage with these situations.

Also, the same people who invests in Bitcoin has a different mindset than those who invest in altcoins. So their strategies to make profit tend to be really different.

That could be one of the aspects that explains which it seems to not make sense but it's just hidden patterns.

The only reason we have trading pairs is because this way we could actually trade without any middle man , if we doubt the recent one we are holding we could change in an instant.

Whenever btc goes down , people make bets the change for the currencies thus actually they might get benefits from it.

Thus the change in price.
Its is like placing bets.

I still think bitcoin is not falling. it's just down for few times during this year. we can see that it did not fail to fulfill everyone's expectation. people made profits again with btc. and as far as altcoins can go they are always volatile but as we can see some altcoins are making very good progress this year. as LTC has grown to 300% and Elon Musk has become the CEO of dogecoin that opened a lot of possibilities for both of these coins.

Which altcoins are you talking about care to name them, as popular altcoins prices are always rising upwards whenever bitcoin prices starts to rise. Altcoins prices often crashes whenever bitcoin prices are crashing and that’s normal, because the crypto market follows bitcoin prices lead. I feel you have brought scam ICOs which are not rising at all, if it’s yet possible dump them and invest your money in bitcoins.

Profitable position as always, traders loves to work with volatility so when market for bitcoin start to show green more traders will place their money inside
most of them will trade alts to hold more bitcoin then wait for the right timing to buy back and continue the cycle of trading, good traders will always look
for a good time to take position for better growth of their assets.

Although, still, altcoins (most always) follow Bitcoin. I am talking about the top-20 tokens. Shitcoins have their own life, and some of them (although, finally these coins will die) can bring fast unexpected profit to their investors.

It seems to me that the cryptocurrency market always inadequately responds to the manipulations of the speculator and the big whales.  But if the cryptocurrency market develops in a healthy direction, then it can be safely assumed that after Bitcoin and the ethereum reach certain prices, prices for other cryptocurrencies will also go up.  I can explain this by saying that users of cryptocurrencies will only then with a great desire to invest Bitcoin and ethereum in other cryptocurrencies.

After witnessing the crazy bull run of 2017, the laggardness of the altcoins doesn't surprise me now. Most of the crypto-users have realized that the vast majority of the altcoins are good for nothing. In the near future, the Bitcoin dominance (which currently stands at 57.2%) will continue to increase and apart from a few good altcoins such as ETH and XLM, most of the others will become obsolete.

Yes, that's true and indeed that's what often happens now that altcoin prices always have difficulty increasing prices even when bitcoin prices rise or fall. To be honest, I don't understand the cause of the hardship for the altcoin, but even so I'm still trying to survive and wait for the increase for the altcoin.

well not all altcoin will go up when the bitcoin price rise
the price of altcoin also depend on the development of the project

May I ask what coins are you holding? Some top 10 altcoins are following bitcoin's price like eth, bch and bnb if you are aware of it and if you are looking for their updates. Maybe, the coins you are holding are not that potential and maybe they are not focusing on those altcoins and were left behind that is why it is hard for them to increased it's price.

Sometime, it is really hard to predict which altcoins are going to bull run if even btc is goin' up. The focus of most of the investors and traders are in the top  altcoins only.

That should be the right case there, every movements should be depends on how the project progressing and not alone depending with how bitcoin moves, it's not good for the project to completely relied to how bitcoin, though there's always possibilities that every bitcoin moves affects the entire alt community but should be changed up after some time.

Really different situation according to past years in my opinion

The only shitcoin that outperform bitcoin is Binance coin. And most of the other altcoins are still having -99% from its ATH, despite bitcoin has recovered 50% loss from ATH. It tell you a lesson, they’re shitcoin because they simply never perform better than BTC. And not even the top 100 coins could stand out to beat BTC.