Bitcoin Forum

Hey guys,

was wondering. the price of altcoins is pegged to bitcoin. When value of bitcoin is going down, altcoin value goes down too. How do you make a profit now?
Unless you buy the cheap bitcoins now and change it to altcoins.

Some suggestions. Thanks!

Bitcoin price not pegged to Altcoin coin
bitcoin prices determined, suply and demand, about news bitcoin example, ETF , SEC and PBOC

altcoin can follow and adjust the price, due to changes in the price of bitcoin

There seems to be a great deal of variation in altcoins price relative to Bitcoin. Some altcoins can go up in price while Bitcoin is going down depending on news events.

Sorry let me rephrase. Altcoin price is pegged to Bitcoin price. Why i say so is because for example XRP is currently 0.00001113 BTC.

1 BTC a month back was probably 1.5k. But right now it is below 1k.
Is there a depreciation in value for this? Sorry, this may be a noob question. Appreciate your help!

Thanks!

I do not think that is accurate. When Bitcoin goes down in value in fiat, the altcoins rise in value against Bitcoins. Look at Poloniex, all the altcoins are in a bull run at the moment.

they are really not related to each other at all. bitcoin price moves independently and altcoins get pump and dumped independently.
the only relationship they might have is that altcoin pumpers usually use the bitcoin news to their own advantage. in other words bitcoin has always been an excuse for them to pump their altcoin.

for example bitcoin price goes up, they pump the coin saying crypto is the new hot topic of the world and everyone is investing in cryptocurrencies so we our shitcoin is also rising because of bitcoin.

then bitcoin price goes down, the same pumpers say bitcoin is dead and we are replacing bitcoin so they pump their altcoin.

in the end, as far as altcoins go and trading them, you should look for the signs of a pump in early stages and join in to make the most profit by getting out fast before the pumpers do.

I don't think so just that because of BTU folk may traders are converting their coin to altcoins out of panic but not tied to each other. Most time when bitcoin is going down against USD you will see eth and litecoin are also going down. BTU like other negative sign against bitcoin will come and go and bitcoin will resume it normal upward movement.

That is not true. Altcoins' prices all revolve around what Bitcoin is doing. How can they be independent when all the altcoin are paired with Bitcoin? All of them want to rise against Bitcoin's value and gain a good percentage of Bitcoin's market cap. The relationship of altcoins with Bitcoin is direct and will never be independent.

If you compare price of altcoin in terms of fiat than yes their price will go down with dump on bitcoin but if you look at their price in terms of bitcoin you will find them pumping.

So when bitcoin will have dump --> Quickly buy altcoins (Top 10 one with good trading volume)
Wait till altcoin price get pumped in terms of bitcoin ---- > Sell those alts for bitcoin
It is quite likely that price of bitcoin will pump again after some correction ---- > sell your bitcoin for fiat after bitcoin price get pumped.

you are right but one investor comes into crypto world he may decide to diversify and will choose both bitcoins and some altcoins hence we can see prices oscillating in similar manner except in individual influencing news. bitcoin price are dominating in all the way on determining altcoin's prices and hence bitcoin value reversely pegged to altcoin cannot be true imho. Still, understanding how price of one altcoin is determined is not universally identified as a general procedure. 

I would say it is rather the opposite. When bitcoin's price goes down, alts grow up a bit (like ethereum and bitcoin now). But yes, like others say, there is no strict connection between btc and alts. Btc depends purely on demand and offer, whereas some altcoins (Decred, ETH, XPR) depend both on that and on companies' regulation of it.
I'd advice you to look at different coins on coinmarketcap and choose those which cost at least a couple of dollars and grow in price now to invest in.

I would like to add that it is really important to check the price of an altcoin against the Dollar or any fiat currency. Be sure that the are stable or also rising vs. them. If an altcoin is falling in fiat value as Bitcoin is, then avoid buying it.

in order to make profit you have to join the pumping altcoins and you have to be good at the timing stuff.
there are two very important times you have to remember when trading altcoins that are being pump and dumped:
1) time to get in
2) time to get out
people alwyas forget these two and obviously lose money or have a bad time.
if get in too late, there is no profit for you and if you get out too late you again miss chance to sell and lose chance to make profit.

There are some alts that move in the opposite direction to bitcoin. Check out the ETH chart - it's a mirror of the bitcon chart. It's almost like speculators are bouncing from bitcoin to ether back and forth.

Not at all.Only when bitcoin value goes down,altcoins are pumped and their value increases.Similarly when bitcoin value increases,altcoins start bleeding and their value decreases.No alt has ever escaped this phenomenon.

The price of bitcoin and altcoin from the way I see it, are inversely related because to even make profit from altcoin trading, the traders prefer that the price of bitcoin falls so the basis of your argument from the ay I see it is wrong but at the same time it is not only the price of bitcoin that determines the price of altcoin as other factors such as pump and dump also account for sizeable reasons why prices rises and falls.

Seem they are inversely propotional since altcoins and Bitcoin are pegged to dollar. When Bitcoin decrease in dollar value and altcoin remain constant, we can see altcoin rising in price value and vice versa. So I guess this is the reason why altcoin decrease in price when Bitcoin price increase.

It is a common knowledge that there is an inverse relationship between Bitcoin price and Altcoins, they call it see-saw effect, I think you should careful of Altcoins because they go up fast and crash fast. Bitcoin cannot be pegged against Altcoin because their marketcap cannot support the price of Bitcoin

well, that is true but not always.
what really happens is that whenever bitcoin price is a bit shaky with uncertain direction (something like going sideways) altcoins get pumped. most of the time it is because traders don't like standing around and wait for something to happen. when bitcoin is not rising they go MAKE an altcoin rise by pumping it and then when things settled in bitcoin they dump that altcoin and come back to bitcoin.
this come back doesn't necessarily have to be when price rises, it can be right after price became stable.

It may be that altcoins sometimes rise and fall with Bitcoin due to the fluctuating popularity and perceived practically of cryptocurrency.  However, this isn't always the case.  Now more than ever, Bitcoin's price can fall while altcoins rise as it's share of the market cap of cryptocurrency is decreasing as people believe certain altcoins to be more convenient (even if they're DASH trash).