Bitcoin Forum

I want to know some speculations about the effect of bitcoin ETF approval in 11 march on the altcoin if positive or negative , as i am not good at market analysis but i am mining many alts and sure i need to know , if bitcoin rises means alts goes down or up ?

It's mean the price of the altcoin will increase BUT the altcoin will have a lot of the correction with bitcoin. so you will see a lot of the redcandle in altcoins but that's not a big problem in my mind. The approval by SEC = The next pump of bitcoin.

It means opportunity to get cheap ALtcoins, if Bitcoin ETF is approved I can tell you that for weeks Bitcoin price will be rallying and we can head to $5000 and that means most of this Altcoin will dump seriously because noone will want to be bagholding these coins when BTC is rallying

bitcoin ETF like many other news about it out there and things that cause bitcoin price rise has no effect on altcoins whatsoever. altcoins move separately in general. it is the pump and dump that guides the market out there.

but there are times when bitcoin price goes up and people because of the change in bitcoin price, move their money to bitcoin market and this can remove some of the supports the particular altcoins had and the regular dumps can crash their prices unless a manipulator puts up some wall.

Thx for all replays , what i understood from this that if etf approved then altcoins may go down due to ppl selling alts they hold to buy btc , anyway march isn't so far :) thx all.

If Bitcoin ETF gets approved, the price of Bitcoin will surge tremendously. The altcoin markets in BTC will be in bloodbath as people will rush to sell their altcoins for bitcoin to join the ride in Bitcoin. After this initial reaction, people realised that bitcoin is expensive, will start to look at the altcoins to buy.

that is true but don't count on it really! neither this nor the opposite
you may wait for the drop in case of ETF approval or a rise in case of its failure but you will get disappointed many times before you realize there isn't really any relation between them.

and people don't exactly "sell alt to buy bitcoin" that means paying fees 2, 3 times. they sell alt for bitcoin.

I like to believe what you are saying even if it does not get to be true. I missed the selling time for most of the altcoin that dropped and i dont think it is reasonable to sell now. At times like this, I have to watch and how down it can get. Just only that the waiting will now be longer than  I think even If i have to sell again except the etf approval did not hold. Some said the approval news is just being rumored to make trade, that the chances of the approval is low. I dont know what to believe any way when it is all predictions.

Thx for the advice, but i won't try to sell or buy i am not a trader also don't like trading , as a miner in this situation i only like in this situation to Hold my mined coins

it mostly depends on how bitcoin price will react to the news. if the price goes up a lot, then price of altcoins can potentially drop big too, and the same as when price of bitcoin goes down. then again price of altcoins can rise too.

They are not always inversely proportional ,for good example yesterday a pump pushed btc,eth,zec up ....i think it's all about whale traders secret rooms :).. Because you just wakeup today, the pump is over and dump phase begain.

I dont know what exactly what will happen to altcoins when the ETF approved by SEC. But im sure this could affect the altcoin community. Maybe altcoins price will drop or rise. Its hard to predict. But in my prediction, we will see cheaper coins once ETF is approved. So im preparing myself once it happen. But if ETF is not approved. Bitcoin will drop.

when it comes to bitcoin versus altcoins prices it is best if you don't count on them changing according to one another. for example bitcoin price goes up, altcoins can go up or drop. but it is good to know usually they drop because of bitcoin price rise.
and when bitcoin price comes down, often times altcoins go up.

the example of the exceptions is the Dash and Ethereum pump yesterday despite bitcoin price rising.

when bitcoin increase altcoin decrease but not always, see dash is increased a lot, altcoin will always have a role here don't panic, it will not vanish just because bitcoin will be very high in value in the future, perhaps you can get rid of the not-very-good altcoin, and save only the top of the top when bitcoin increase a lot, holding too many coins is risky now

SEC and ETF aprove bitcoin, can good affect bitcoin price can incraese very high
good affect to altcoins, but ussualy if bitcoin price incraese very high altcoin can down price in bitcoin value
but same with DASH coin, in bitcoin value down, but with dollar value, DASH incraese very high too

Remember that when bitcoin's price is pumping most of the alts price will be dumping. And if ETF will be approved, it's an advantage for bitcoin.

But that would be an disadvantage for the alt coins, and if opposite thing will happen then alts will seemingly pump.

In short, ETF approved = BTC+ / alts - , ETF disapproved = BTC - / alts +

it depends on how bitcoin price will react. i personally thing we won't see a big rise and most probably we will see a bump and then some cash out and price comes down.
so in case of rise altcoins might drop
and in case of drop altcoins might rise.
and pay attention that i say "might" because it is usually this way and sometimes the opposite happens.

if you are mining you should always mine the best thing that gives you the most profit. this is mostly depending on the difficulty + price + block reward not just the price of them.

Should we not get an approval, all altcoins will decrease in price because btc will be dumped

Should we get an approval, all altcoins will decrease because everyone will rush for the new thing and buy btc more and more and price skyrocks to 5000$

In either way, the news about the approval is bad for altcoins on the short term but it will be a good for the crypto space as a whole in the future. Better see it that positive way for alts!

My question is what will happen if ETF approval gets further delayed and the price of all the other ALT coins?

I think we may see a mixed moment here

Sorry, as i know 11 march the approval must be in yes or no no more delays that's what i heard

My speculation is that most altcoins will be sold but a good amount of them will rise in sync to BTC. See which ones copy-paste the BTC trend and you will get the picture..ETF will bring tons of new money in BTC and will spillover to other alts as well since BTC is way too high priced.

What make you think that bitcoin is priced too high?

Two days left. Any new news?

Here's the news, price of bitcoin and most alts when down a lot in the last 24 hours.

we will very soon find out the result of ETF and see how the market reacts but it is usually pretty hard to predict the reaction for bitcoin which is the most affected by this news let alone predict about altcoins. they usually change with bitcoin price but you can never make a rule out of it.
when bitcoin rises sometimes it takes some of the coins with it to the top but most of the time other altcoins crash because of this bitcoin rise simply because traders cash out to go back to bitcoin and remove their buy support from those coins.

It is likely that bitcoin ETF will give a good effect. For there will surely be many investors or people who are getting to know, and also to use it. you don't need to worry to news created by those who do not know or those who're bitcoin coveting its growth. If you are not sure of the growth of the bitcoin, it would be better you save it and wait until the price giving your profits

Why is the price suddenly going down before ETF? I was expecting lot of people to grab btc before ETF news comes out

Unexpectedly mostly everyone who saw the video agrees. Can't wait for the decision!

If bitcoin gets in a huge bubble then that will soak money out of the altcoins since everyone will want to get in bitcoin to try to get a share of the profits, but some of the best altcoins could also do well in those circumstances.

Anyone that is not playing to gallery will know that ETF is a bad move for Bitcoin, there will be so many price manipulation which may likely go out of control and even centralisation.

I don't see the need for ETF, have you heard of USDETF or EUROETF, the concept is against what Satoshi designed Bitcoin to be, why do I need someone to control my Bitcoin for me. Once you have your wallet and internet you are good to go.

Yes even I am not in favour of ETF...We need decentralized token and bitcoin was on top of it and now looks like it will be like any other average currency

The bitcoin etf will make the bitcoin will become the centralized currency, and it's just a business by the winklevii, they just think about the money and money. LOL

I think someone has an information we don't have, the price manipulation has started and I expect the decision to be made public soon. I believe someone is shorting Bitcoin and some gullible traders are going to fall on his knife.

Happening now and alt coins will drop. Will be good to buy cheap alt as people will take profits the next ATH.

Disapproved, celebration time, c'monn. Green lights for altcoins. I was really in depression during the hard rise of Bitcoin but I was aware that after ETF will be disapproved alts will pump hard.

We saw a sharp increase in XMR/XBT in response to the ETP rejection by the SEC. https://poloniex.com/exchange#btc_xmr (https://poloniex.com/exchange#btc_xmr)

But the bitcoin still need the correction for their price. and i think we will see the bitcoin is back again into the middle level and leave the bottom.

Bitcoin prices may test below $1000 levels in upcoming days but I am not sure that would be the signal for altcoin bumps. The big problem with altcoin is, usually they do fail to keep their investors and traders attracted toward it all the times. Investors and traders keep on switching into new coins all the times then how you can expect prices to bounce back.

New altcoins will keep on hit the market and people will invest and book profit and then will forget when they see another new altcoins. So far this is the history how altcoins market worked and if history repeats itself then we can keep on seeing blood bath everywhere of alt markets.

The problem is not with altcoins the problem is with people who are wasting their money in scam shitcoins.

What advantages over alts has BTC?

1. Transactions fees? No
2. Transactions speed? No
3. Anonymous coin? No
4. Volatility? Check price movement yesterday if you think that BTC is very stable! So, no.
5. Store of value? Check any book of economics and find out what is "store of value". The premise of store value is that it hasn't high volatility rates. Nobody will put their money in BTC except speculators and venture capitalists. Bitcoin isn't a good option of store of value because it is to volatile and risky. 
6. Speculation. The only thing Bitcoin does. Yes, it is volatile as hell and you can make money from this.
7. Cheap and efficently functioning network? No
8. Strong and unaminous community? No.
9. Safe network. Yes?

To sum up, altcoins (the best of them), for example NEM, has many advantages over BTC.

for alt is the same they have nothing over bitcoin, and bitcoin has the single most important thing over alt, that you didn't mention there, which is merchants, and BTW bitcoin is still more stable than any alt despite the dump of yesterday, and lol at bitcoin have no store of value, but you think that any alt has store of value better than bitcoin? they are far worse in term of stability, bitcoin has the best stability you can get for a crypto coin

How can you imagine merchants to accept BTC with 24 hour confirmation times and fees exceeding $1 per TX. It is weird, go and try to buy a cup of coffee with your Blockchain app and share answer with us how that was cool. Story about merchants accepting BTC is a bubble to fool people that you can use your BTC in everyday life for evveryday TX's. Why I need this? 1$ per TX while my mobile app charges $0?!

While I agree about volatility I do not about technicals. BTC has too much congestion problems that are unresolved and it will be more in the future. You mentioned merchants. Remember how many transactions per sec can scale BTC? And when you'll find the answer, tell us more about merchants accepting BTC. It is bullshit. BTC has a lot of unresolved problems. Core team, miners and speculators are lying because they have their own interests.

As I agree that crypto is volatile, I do not recommend anyone to invest or put their money into it. Retirement funds have conservative and safe investment tools. But what I want to say, alts have better perspectives than Bitcoin with its hyper expansive and slow network.

Finally, do you know that you can't talk abstract "altcoins". There're a lot of them. Shitcoins, pump and dump coins huge list of them. All of the alts are dependant on BTC and volatility of alts depends on BTC! In terms o fiat major altcoins aren't so volatile as you're trying to convince us. We should trade alts not againts BTC but against fiat to see the difference. We also should expect more merchants accepting the best performing alts. Volatility is not an issue because crypto is converted to fiat in real time. But BTC is too slow for any merchant to accept it and too expansive to use it for customers.

if you don't use bitcoin as a currency it's fine but don't think that just because you don't use it other are not using it either, regardless of the fee, which is not that high after all, it offer more privacy and fast way for buying stuff, also you can easily evade taxes with bitcoin, and regain your fee there, with fiat you would pay a lot of fee just to maintain your precious credit card! that's stupid, i don't pay to have my coin in my wallet, btw bitcoin is not slow, if you pay the correct fee will be confirmed in 10 min or less

I don't think bitcoin need this etf anyway , it's doing well on it's own , i don't think bitcoin will take the same way as anything before it will just make it's own way and path because it's diffrenet than anything else, i realy would like to go to future to see how bitcoin will be..... ::)

If will go on its own way without SEC approval. Although with the approval of SEC, bitcoin will soar to the moon. Unfortunately, there are things that we can't control like we are all into getting it approved by SEC. But since it is declined already, the best thing to do is just try to panic and let the course of bitcoin go on its own. Whether the price will go down or rise, we will have to see it in the future.