Bitcoin Forum

The war in the middle east somehow rubbed off a great deal on the world's most reliable digital asset, Bitcoin.
Maybe some traders would had bet BTC was progressing to $110,000 before the dip. lol
 
The war in the middle east influenced the market, then along came the retaliation, which again reflected in the prices of digital assets.

We saw BTC go down in price, going as low as $99,000, within this period.

While BTC, was having a fall, altcions started picking up. This is because, traders quickly turned to altcoins, the result? Altcoins are blooming.

Below are some coins that scaled up. ETH, XRP, SOL, AVAX, TRX, TON, OKB. Which coin did I miss?

All these altcoins that you mentioned were falling when bitcoin was falling during the war. I always check the price of ethereum and solana and their prices were proportional to bitcoin price is all that I knew. They move in the direction of bitcoin price. If you see them rising, that is because bitcoin was already rising at the time.

It's true Bitcoin dropped a little bit during the war, but not too hard dump. As we can see, normally Bitcoin is volatile this way. During the war holders become panicked, and it's normal behaviour as well. As a result, Bitcoin dumps a little bit. Where do you find altcoins holding their position? Compared to Bitcoin, which dumped, altcoins dumped more. Altcoins just follow the Bitcoin trend; a few would be different, but we can't use them, for example.

Still, you can see even Bitcoin recovered quickly after stopping the war. But alts are still dumped and not recovered yet. I don't know why, but day by day I have been losing faith in altcoins. Once they dump, they are not trying to recover the price. Lately investors seem to be more interested in Bitcoin rather than investing in altcoins. That's the reason why we still aren't seeing altcoin season.

Where did it go before??

This is normal and we can't say we don't expect the war to have an impact on Bitcoin price so I am surprised why so people are frustrated as the price went down. We all know it was just temporary and shouldn't be a reason for people to panic.

Bitcoin has mini correction while altcoins have crashes and even they all fell down last two weeks, it does not mean they had similar react against war news around the world especially Israel vs Iran war.

This war and its effects on market proves that your portfolio can be well if you hold bitcoins, while oppositely it is not well and actually terrible if you hold altcoins!

Bitcoin is like a turtle that has good discipline and ability to crawl slowly to finish line, to its end game while altcoins don't have such. Altcoins oppositely only have good classic crashing style that damages many people portfolios. Anyone who have have enough time in this market, through one or two market cycles would easily recognize this fact - that is fortunately no longer hidden - of weal and vulnerable altcoins.

How many cryptocurrencies have failed or died? (https://www.coingecko.com/research/publications/how-many-cryptocurrencies-failed)

Well, there will always be people who panic in situations like this; we could see it reflected in Bitcoin's price. Even without the panic, I still expected that Bitcoiners in affected countries would sell off their Bitcoins to meet some urgent needs. I was not surprised by the price movement, as I was convinced it was the effect of the war. All I needed to do was pray for the war to be over. Glad it did.

As for altcoins, confidence in them is dropping by the day, which is not a good sign. We are yet to witness an altcoin season... is it even going to come? People are more interested in Bitcoin now than in altcoins, and this is obviously reflected in altcoin prices.

If you want to call this an 'Altcoins started picking up while Bitcoin is having a fall' then so be it.  All these altcoins are only trying to keep up with the massive rockets Bitcoin launched.  That is it for most of them.  They are desperately trying to keep up and show that they are better when in fact it is still Bitcoin who reigns.

This excluding the way Altcoin charts move on a general basis in comparison to Bitcoin.  Bitcoin is like a sunny wave on the shore of a luxurious beach.  Altcoins are like those heavy storms that would almost get your boat doing flips over the water in the middle of the ocean.

People don’t usually trust altcoins during uncertain times, they turn to the most stable asset, which is Bitcoin. We’ve seen this before. When the war broke out, Bitcoin dipped a bit, but look at it now.. it’s stable and back to a solid price level. Who knows, one of these days it might suddenly pump and hit a new all-time high again.

The thing is, Bitcoin isn’t controlled by any government. That’s why people have more confidence in it. Their money feels safer, it’s protected from inflation, and no matter what happens, as long as there’s internet, it’s accessible. That’s what true financial freedom looks like, having full control over your own funds.

But other altcoins are not controlled by a government either, so what is your point here?  OP was trying to say that Bitcoin is not the best choice in the challenge of war.

What we should have seen is a correction to 90K at least. But too many institutions are buying like crazy so we just keep on hovering at the same price for a while. Will this lead to a plateu, a dip or a pump?

Personally I think we are going to bounce between 110K and 100K for a while until we finally keep going to 120K.

But at the rate billionaires are buying up BTC, we might see that happen sooner than expected.

Do you believe this will have a positive effect in time too, or do you believe it is only positive news temporarily?  If any of them is evil, it would not be the first time in history a billionaire plans to harshly crash an asset to their advantage.

When bitcoin dropped to 99K it made an immediate recovery after the governor of Texas signed
the bitcoin reserve bill into law on the same day. That was not a good time for paper-handing your bitcoin.

I really don't see any good altcoin now, even the entire altcoin market.
That's why I just bought ONLY BITCOIN on the recent dip, that's it. I already learned my lesson from the past.  This is not new and the pull back after dip is really expected.

There is a fact people in any market must know: there are bullish months and bearish ones. Applying this principle into Bitcoin market, the appearances and participations of Bitcoin ETFs and institutional investors actually have created new massive organic demands on bitcoin, though it won't eliminate basics of the market cycle - bullish and bearish times.

The advice is don't time the market, do neither find ATHs and absolute bottoms.

Instead of trying to time the market that is a super hard task and you will fail, let build up your long term investment and accumulation plans, then doing it by Dollar Cost Averaging strategy over time. If you do this, you will not see severity of war on Bitcoin price.

This isn't even a huge problem and panic at all. Because those who have seen even before the war has happened, saw Bitcoin went below $80k. And that's more concerning to most of us because we thought that it will plummet and will go down up to unknown prices like below $50k or something.

Not all alts are blooming. Just look closely to the top altcoins, not all of them are interestingly doing good.

Is the war really a cause for a price drop in Bitcoin? I don't think so because the price of Bitcoin is already below $100k before the war starts. If we see the price of Bitcoin drop today, the volatility of the market explains it. Investors are not leaving bitcoin or selling it. They are just holding because they know it will rise again. But don't wonder if the price of Bitcoin drops again. You will witness it decline more in the coming days when the bear season starts.

The altcoin follow where Bitcoin movement so when Bitcoin is down like today, many altcoins will follow as you can check on the market. But sooner or later, Bitcoin will be back to the right track and will start increase although that is slow.

Bitcoin will be back to the last ATH and increase higher no matter what the situation. We just need to wait and see while we continue our accumulating of Bitcoin. We don't have to wait for when the war stop because that could be late for us.

So you don't have to think about the war and just focus with your Bitcoin investment. The altcoin will have its time to increase which is when the altcoin season come. But it will difficult to know which altcoin that can increase and make a new ATH.

During the Iran-Israel war, the price of Bitcoin dropped a lot, but the price of Bitcoin was dumped very little in proportion to the war. While the whole world is economically terrified, I don't think it has affected the price of Bitcoin in any way, the price of Bitcoin continues to improve to normal levels. The coins that you missed during the war cannot always improve with the price.
When the price of Bitcoin drops, the Altcoins start to drop completely, but when the price of Bitcoin returns to normal levels, the Altcoins remain where they were in the past. Therefore, I believe in Bitcoin, Altcoins are only enough to waste the time of investors for some time and make money.

During the war in the Middle East, Bitcoin did experience price changes but not large ones. Maybe it was because the holders saw that something would happen when America got involved, so they experienced panic selling.
It didn't last long, the price of Bitcoin returned to a price that was not far from the ATH price that had been holding out. Unlike altcoins which are still returning from the price that was decreasing.
At this point, who is better to be used as an investment asset?

You are right, now is not the time for these altcoins to start moving on their own without the help of Bitcoin, not until the liquidity shifts and BTC dominance start falling big, but for now all alts depends on Bitcoin and many of them are more volatile than the likes of solana and Ethereum.

A shift is coming though, but I hope that Bitcoin breaks the 108k and also many traders shorted the market and they lost billions yesterday, this whole rat race is a game and many will surely get crushed.

The winners are those who knows what they are doing and also those who choose to just accumulate and hold their Bitcoin, holding is a waiting game, something that most people can't do because they lack the patience.

Yeah, ETH, XRP, SOL -- which of these have actually made a new ATH in the past 12 months? I'm sure I would have heard the altboys screaming if that happened. ETH is barely up 50% of its peak and Bitcoin is within striking distance of a new ATH.

Are we really going to talk about scaling up, or are we just talking about failed attempts at long-term recovery here? Bitcoin falls, altcoins wilt. It is the easiest wisdom.

That BTC drop surprised a lot of people, especially with all the $110K talk. Crazy how fast traders jumped into alts—ETH, SOL, XRP all started flying. Market moved fast.

There is absolutely no guess work if bitcoin will hit a new ATH, It is a certainty the only challenge is it will require another waiting period whereby testing our patience. So far the adoption rate keeps adding in numbers over all other altcoins. Even during the war outbreak bitcoin dip wasn't as terrible as that of ETH which happens to be the second digital asset in the crypto space we all know the inherent volatility issues ETH keeps battling.

Good to be verified. I thought I was mistaken because I did not think altcoins were rising when bitcoin declined. Bitcoin declined but only a bit. Nothing too shocking or dramatic, imo. I saw some people hype up the "altcoin season" but again I do not see it and I still see bitcoin is the one dominating right now. Even when bitcoin declines, not many turn to altcoins.

Well, it would not be the first time billionaires crash the market to buy cheap coins from the panic sellers. I think the Bitcoin community knows better than to fall for the same tricks again. And at this point, Bitcoin is so adopted amongst institutional buyers, they would only risk losing money by employing the same tactic, as the other billionaires would simply buy their sell.



That's good advice!

Timing the market is not only hard, it is impossible.

It all depends on probabilities that cannot be calculated to a certainty of 100 percent, no matter how much data you research or scrape with any kind of knowm technology.

I would also say that dollar cost averaging (DCA) is one of the best ways to go about it. From a personal view.

Are you for real. Who told you that traders stopped trading bitcoin and switched to altcoins when altcoins even dumped harder than bitcoin. One thing that you should know is that these altcoins are being influenced by bitcoin price movement. Sometimes, bitcoin pumps and they don't pump. It's only a minor correction and now the price has bounced back. Hope to see it above 112k soon.

Was the war definitely a factor in Bitcoin's decline? I don't think Bitcoin was going to correct itself anyway, whether there was a war or not, it does this cyclically. Even if the Bitcoin price is affected by any extraordinary situation, there are many institutions and now governments that are ready to buy Bitcoin.

Meanwhile, while Bitcoin was falling, altcoins were also falling, they may have fallen even more, this is usually the case. Bitcoin made its correction and is back on track.

If you look at it, it was not much of a surprise. Until Bitcoin makes a new record with $120K, Bitcoin will continue to analyze in this way and we will continue to see surprises. All this is also related to it, but when it has improved, its price has also improved, which is why it is also becoming successful and able to trade, but it is not worthy of trust and success.

Well, from what I saw myself, none of this Altcoins you mentioned blossomed, it's very hard to see Altcoins go up when bitcoin, the father of all cryptocurrencies is falling down.
I saw bitcoin at around $99k with  a downtrending chart, and so also were all the Altcoins you mentioned going down as well.

But nevertheless, things have turned around at the moment, or so it currently seems, bitcoin is now trading around $107k while most Altcoins are showing positive movement at the time of me writing this thread, some say we are gradually getting into the altseason but I do not believe this, and won't until I see a full blown altseason for sure.

If you’ve seen these altcoins scaled up, the question is, how long will it be? Because as far as I know, while bitcoin is quite affected seeing its price dropping below $100k, altcoins are not taking price increase as well, as they are mostly dependent on bitcoin and simply follow its path.

Bitcoin is now in its recovery phase, and hopefully this time its price will start to skyrocket so that we will land into its new all time high. While altcoins? I guess they’re still stuck in their low prices and not even sure if they will also rise up with bitcoin.

I knew what was causing drop in bitcoin price was just the war between Iran and Israel, I knew when the war ends, then bitcoin price is going to bounce back, and as we can see, bitcoin price is already moving upward gradually. Immediately I heard about the war, then I told some people that do trade futures to close their position at that moment, because we will be experiencing increase in volatility in market.

Some people took advantage of the war and bought bitcoin when it drops below $100k, at least people like that will already be in profit right now, it might not really be much, but some people holding bitcoin for long term took advantage of that to accumulate more bitcoin  at a cheaper price.

As far as I understand from my analysis, the main reason behind the drop in Bitcoin price was the Iran-Israel-USA war, and the attempt to recover Bitcoin price was also due to the cessation of the war.
But to me, the market seems very confusing right now because the market has recovered from bitcoin's bear trap of 74k, so it wouldn't be surprising if bitcoin drops and heads towards a real bear season.
However, I was expecting the market to go up a little more and create an all-time high price, such as around 120k. Now it remains to be seen what the market will do in the future, but at present I am not making any new investments.

In this bull market, most of the altcoins are falling when bitcoin is also and when bitcoin begins to rise, they don’t rise with the same momentum that bitcoin uses to rise. This movement of bitcoin and altcoins in this market bull run makes it unpredictable if the altcoin seaosn will ever come this season as some people are already predicting of not foreseeing it coming. When bitcoin has gotten to its peak is when altcoins begins to rise more, when investors in bitcoin begin to withdraw their investment in bitcoin and put into altcoins. If we are using that perception to how the altcoin season will occur, then there is still hope in it as we are yet to see bitcoin reaching its peak in this bull run yet.