Bitcoin goes down = alts go down, Bitcoin goes up = alts go down

[djm34]

Did any of you bother to read the topic ?

I see this a lot all over crypto.. you guys FAIL hard at getting what the point here was.

Their point is that they have to sell their crap coins and all thread are good for that (especially those filled in despair)  
That's probably why altcoins are always going down at the moment...
Only P&D group+coin dev trying to sell wind at 10k sat while excluding miner (competitors, since they sell more than they buy)

[CoinHoarder]

From what I have deduced over the past couple years, it works generally the opposite of what the thread title claims. When Bitcoin goes up the big alts go up as well, and when Bitcoin goes down the main alts go down. I think this is because most people think if Bitcoin fails then all ALT coins will fail too, as confidence from the general public about cryptocurrencies would be shattered.

[belmonty]

From what I have deduced over the past couple years, it works generally the opposite of what the thread title claims. When Bitcoin goes u the big alts go up as well, and when Bitcoin goes down the main alts go down. I think this is because most people think if Bitcoin fails then all ALT coins will fail too, as confidence from the general public about cryptocurrencies would be shattered.

I noticed there is often a time delay between bitcoin going up and the alts going up. I suspect people need some time to get confident bitcoin is really going up before they start investing in alts.

[Ryse]

It seems that OKcoin's recent x20 leverage is one of the culprits to this deteriorating alt market volume. A lot of the BTC probably moved over there for the time being until BTC stabilizes some.

Not going to lie, x20 sounds so tempting.

Either insta-rich, or insta-poor.

[moiraine]

at this point, unless an alt as a new algo or Proof of X it'll basically die.

As of now the only semi-healthy alts are:
-LTC
-DOGE
-DRK

I think vtc might also be up there, but im not really familiar with it.

The 3 above coins still have decent volume and networks as essentially secure, and they show some sort of independence from btc. For example, LTC maintained it's $4~ price throughout the btc rise from 350-400. It obviously dropped relative to BTC but usd value held strong-ish.

but ofc people will move to btc during a rise. As for a during a drop, Im guessing that they are just trying to get out to fiat(and thus have to go alt->btc)

[BootstrapCoinDev]

There seems to be a time lapse when Bitcoin goes up the alt coins eventually also go up, but it takes some time. You can't always rely on this though.

[bajlox]

Yea all alts follow BTC change.

But glad that i wasn just me who notice that when btc goes up some alts go down.
I dont know why and right question is in which alt to invest or to hold some amount in btc?

Suggestion in which one is tough call.

[azguard]

As of now the only semi-healthy alts are:
-LTC
-DOGE
-DRK

Your right for this alt they have stable community, price and volume, for now.
But i dont get it with price change last year when btc was up rolling ltc follow now more and more he is stable and independent from btc price in all ways.
Need something big to happen to ltc price change I think.

[thomastaylor]

From what I have deduced over the past couple years, it works generally the opposite of what the thread title claims. When Bitcoin goes u the big alts go up as well, and when Bitcoin goes down the main alts go down. I think this is because most people think if Bitcoin fails then all ALT coins will fail too, as confidence from the general public about cryptocurrencies would be shattered.

I noticed there is often a time delay between bitcoin going up and the alts going up. I suspect people need some time to get confident bitcoin is really going up before they start investing in alts.

So true!
It takes some hours up to one day to see an impact on alts. Same procedure when bitcoin is going down.
Theoretical it is like an early-warning system and give alt-investors the possibility to avoid bigger losses.
As I said it is all theoretical.