Bitcoin Forum

Will this be the start of a short-lived altcoins dominating the market? Will bitcoin stuck for another month or a few months more before climbing back to the top? What's your opinion?

Here is the article:
https://www.newsbtc.com/2019/09/18/altcoins-awaken-what-has-driven-the-epic-xrp-surge/

If bitcoin stuck for another month, then I think that will be a great time for an altcoin to start climbing to the higher price.
The altcoin is suffering for a long time, and the altcoin still waiting for a good time to rise again while bitcoin still moves up and down.
I see that in the market, many altcoins are starting to increase, and some of them can break the higher price and stay at that price.
So I think the altcoin will have a big chance to grow in this month and the rest of the month.
The altcoin will have time to dominate the market besides bitcoin because it seems, bitcoin itself is waiting for something before the price can increase more.
Maybe you can watch the market closely so you can see which altcoin that can increase and who knows that coins will be your coins.

when i write this post, BTC Dominance is about  67.6% and the rest is going to altcoin my friend
thats mean bitcoin still dominating the market now,
Bitcoin dominance just down about 2,5% - 3% but the price of alt run in good movements, can you imagine if bitcoin dominance down and touch 60% ?
maybe most of good alts will fly high,,

 

 

for the past 10 years that bitcoin has been around and the smaller time that altcoin market was created this has ALWAYS been the trend:

* bitcoin rise ==> altcoins dump
* bitcoin fall ==> altcoins dump more
* bitcoin stable ==> altcoins pump

right now bitcoin has entered its 4th week of stable price at $10k range and that means all the traders are starting to think about pumping shitcoins to make profit while bitcoin remains stable so that they could increase the amount of bitcoin they have before it starts rising back up again and altcoins get dumped.

with that said XRP is not "surging", a surge is anything above at least 70% to 100% pump. XRP had a tiny 10% pump.

Altcoins are probably just recovering from their huge losses. They have lost alot actually, compare to Bitcoin.
If you compare altcoins 2017/2018 peak to their current prices and Bitcoin 2017/2018 peak to its current price you will understand that Bitcoin is doing way better than all the coins

It was interesting that Ripple immediately released another 30 million XRP, whether it was to knock down the price or to sell them to a whale - it is hard to tell. In any event, that could have easily ended the XRP surge, which makes it even more interesting that it didn't react at all.

I think Bitcoin will be trading sideways into 2020, specially after having just read this :

VanEck, SolidX Withdraw Bitcoin ETF Proposal From SEC Review
https://www.coindesk.com/vaneck-solidx-withdraw-bitcoin-etf-proposal-from-sec-review

And i also think Altcoin Season is very near. Some altcoins showing signs of new longterm uptrends.
This will make them move more independent from Bitcoin.

This is a longterm 1W chart of Dash, where you can see how close this cryptoproject is to a new longterm uptrend :

https://i.imgur.com/vTMNRyp.jpg

You can check the charts for other altcoins this way as well. When the altcoins have fully processed
their current longterm down trend and are starting a new longterm up trend, then we will possibly see
an Altcoin Season starting.

Let's be honest here, XRP always made a sudden move without using any pattern. Did you remember a few months ago when we got a huge dump but XRP got a good pump?
even though it made a nice gain, it does not mean it will take a lead. For the long term, everything is decided by Bitcoin no doubt about that.
it is just they have a special condition that could move the price since they're holding quite a lot of coins in their pocket.

Not actually a surprising thing yet these switch ups can happen from time to time and as i had said earlier from other prediction threads on when alts would rise up then
now is the time but these arent just a big move up to be considered as one but at least we are seeing some progress to these alts.Try to check out CMC where top 100 alts are increasing its price or green percentages- it might not too big but those are considerable price rise. Time to short? Your choice and lucky for those who bought a few weeks ago or even 2 days ago.

Too early to say that but who knows if it's already the start?

We should recognize the movement of bitcoin not just for this month or last month. We must recognize the movement of it for the whole time or at least for this whole year. The increase that it made for this year is greatly appreciated by me and I don't consider it has been stuck at these times.

Yes XRP sure has gone crazy for the past couple of days. Basically this is the first XRP trade this year that has been profitable. And I took some profits off the table. Reason why is because it could be nothing but a bull trap and might head back down later in the year.

Look at the XRPBTC chart for May 2019, it looked like it bottomed out and was going to head higher, especially after months of declines and it traded sideways for a few weeks and then hit new lows shortly after.

Hence if this rally keeps continuing to go up then I can see XRP reaching maybe 4000 Sats but if it stays then you got to take profit and get out.

Developers have a lot of opportunities to manipulate the price, we have already seen this many times before.

Sorry to burst the bubble but I'm not seeing a altcoin rally here. Just pump and dump for some majority coins and a few shitcoins down the line. So it's too early to say that Bitcoin will be stuck, it is just trading sideways after all. And then some altcoins gaining 5% or more but we all know what's going to happen next, a massive dump. I see one potential good coin, was up 35% yesterday, and now it's down 25%, LOL. So let's not get excited for the altcoin market, bull run is not yet here, probably we will have to wait for next year early or mid 2020 before the actual altcoin bull run begins.

This will be another hype but why not take this opportunity by selling our stored tokens were we've been holding for many years. I know this hype will never take longer and turn back down in few days not unless if we are finally in the bull run. But the market isn't still there, BTC is still not moving high and not all altcoins are in the move also which it finally thinks that this a manipulated price happens with XRP now.

Observation that is very true and applicable to a lot of altcoins. I don't see anything special for XRP to continue increasing its price in the market. Developers of this coin might be behind this market movement and if in case they are not, ask yourself - what would be the major reason why it will continue to soar? Are there more users of this coin? Where can you use XRP aside from trading? Can you pay XRP in a coffee shop? Just few questions that you might want to think about.

Holders come alive as XRP shows some pumps, but the question is what will happen next after the hypes will be over? It sounds like we hold then back again waiting for another price manipulation. This is a way to attract traders as well, it is a reoccurring scheme that developers do to think that XRP is still alive but one thing makes difficult is that, XRP can't be better because of being a centralized one and not even it grow more because it is controlled already.

that would be the first time in history of bitcoin that a sideways lasts that long. which is why i am highly skeptical of it even being possible. as for ETF news, nobody cares anymore! at this point after what seems like a thousand rejections if SEC does anything different we should be surprised.

The reason why i think this is important news is because this is not the SEC rejecting the VanEck-SolidX ETF proposal,
this is actually VanEck-SolidX withdrawing their own ETF proposal. The first time they did this it made sense (US government
was on lockdown and they were worried their proposal would receive an automatic rejection because of this).
This second withdrawel of theirs makes zero sense, its like they just gave up on ETF alltogether.

There are still 2 other ETF proposals up for evaluation by the SEC i think, lets hope for Bitcoin's sake they dont get withdrawn as well,
because the current price range ($9000-$10,000) is largely based on exspectations of ETF approval (Bitcoin's halving is still too far away
and Lightning Network is nowhere near ready).

Bitcoin will certainly increase in the coming days. The halving event is almost here and it's time for the sharks to buy and hold it. Looking ahead, they will buy in bulk and the price of BTC will continue to push higher.
altcoins only increased slightly to increase the confidence of investors, in addition, it was still pinched by the attraction of Bitcoin.

Bitcoin halving is still 8 months away, not exactly 'almost here' ....

I don’t know the reason for the surge, it could have also been manipulated, but I see that there are some coins that also pulled up along with bitcoin and I don’t want  to believe yet that this is the beginning of altcoins season that we have been waiting for, we will still wait for another few days to really confirm if this is indeed the bull run that we have been waiting, but for what I think, I think bitcoin dominance will still continue for the rest of this year before altcoins makes a head for their own bull run, and that will hopefully be by the time the halving of bitcoin starts next year. Altcoins are actually due for their own bull run if not for the scam projects that came to discourage everyone about ICO.

Ripple surged, verge surged, doge coin surged and so as other coins like you said, but it is quite too early for us to have believed that it is bull run for altcoins, if I tell you that I am beginning not to believe in bull run for altcoins again, will you say that I am crazy? No, I am not crazy, because what created bull run in the last bull run was just simply ICO.

Through the ICO, many big investors with very large money believing they could triple their money based on the hype then pumped their money in large amount into altcoin market, But majority of them has been dealt with by whales and they have kind of gone down now financially, so it will take more effort for people to even believe in putting money in cryptocurrency again, and you can see what I am saying from the rising dominance of bitcoin.

This is why I took some profits off the table from my long trade in the ~2500 sat area. Because I've been burnt too many times this year trading alts especially XRP.

Remember what happened back in May 2019? We went from like 4K sats to like 6K sats very quickly and everybody assumed it was the bottom, and a few weeks after we headed lower and lower again. So you need to keep in mind that the alt surge last week could of been nothing more than shorts taking profit and we might take another dip within the next few weeks.

I think for alts to start peaking again, BTC needs to head higher than $13.8K sometime this year and then start to correct. When alts start to rise while BTC is trading sideways or downwards, it doesn't look promising for alts.

Some coin give reason for good governance in their project. XRP has a team that is very quiet in advert and hype but kept doing a lot of development that has a profound effect, it has so much institutional and financial support . recently most of the project idea and innovation in the news had been castigated but surprising gave a good outcome. Some people hate altcoin so much and just want every altcoin to fail but we all put money into these for God sake

The current situation cannot be determined with the development of altcoin, although many altcoins can maintain and even move well like xrp etc. but holding altcoin is a gamble that we cannot know, will it be useless when finally placing it on altcoin?

These short bursts of small gains are good for people who can afford to dollar cost averaging.   That way buy and sell orders have given some 10 to 20 percent gains in this market every few months.

They are not looking useless and hopeless, some altcoins still rallying well even without a bull run just like BNB.
Well, it has to think that others can't because of lack of support from the community and investors as well. What happens to XRP short jumps is just because of the team action, and we can't really expect that it will continue its surge until the end of this year. We are glad to see that they doing this, it gives attractions but I don't know if it could attract more investors since knowing that it is a decentralized coin.