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Author Topic: Why the AltCoins are crashing  (Read 693 times)
SlickMcFavorite
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April 09, 2013, 10:21:38 PM
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Up until the weekend, BTC had hit a few days of relative stability.

Everyone got bored -- wanted something to trade.

"Heyyy, these altcoins are cheap...and I can buy so many with just a few BTC"

Crazy runs on all the altcoins proceeded.

When Bitcoin volatility and growth resumed, everyone wanted back in on the cash cow. Who wants to stick with an unproven competitor when the workhorse is moving full steam ahead, right?

Once BTC settles down again, the AltCoins will have another resurgence.
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April 09, 2013, 10:22:56 PM
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Up until the weekend, BTC had hit a few days of relative stability.

Everyone got bored -- wanted something to trade.

"Heyyy, these altcoins are cheap...and I can buy so many with just a few BTC"

Crazy runs on all the altcoins proceeded.

When Bitcoin volatility and growth resumed, everyone wanted back in on the cash cow. Who wants to stick with an unproven competitor when the workhorse is moving full steam ahead, right?

Once BTC settles down again, the AltCoins will have another resurgence.

Really because LTC has remained stable and actually has risen today.  Hm... should be a tip off for even the dumbest investor.
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April 09, 2013, 11:21:33 PM
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I'm not sure what you think I'm saying, but I'll say it again more clearly:

In the last day or two, AltCoins have dropped in value in relation to BTC. This drop is directly related to the surge in AltCoin value just prior to this weekend. The surge was the result of stagnating activity in BTC:USD value (ie: moving sideways). Once BTC:USB value went through some increased volatility, the very thing that drew some people to the AltCoins, people left the AltCoins to come back to BTC.

You're correct that LTC:USD has risen, but this is mainly due to LTCs ability to be exchanged for BTC.

I'm not even saying that AltCoins suck -- in fact, the implication of my argument is that the current dip in AltCoin value is an excellent time to buy.
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April 09, 2013, 11:57:12 PM
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Actually I calculated devcoin's value and it is up in actual value, just not as fast up as bitcoins.

So to me it does not look like altcoins - or at least devcoins - are crashing at all, they merely are not skyrocketing as fast as bitcoin is.

Take a look at the charts at http://galaxies.mygamesonline.org/digitalisassets.html

Look at a chart showing values in terms of something that is going up fast, and it looks like everything else if going down.

Look at a chart of something that is going up slower than most other things and most things will look like they are going up.

Its all relative. Smiley

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April 10, 2013, 04:04:30 AM
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main reason LTC has risen and stable is rumors or expectations of MTGOX adding LTC.  But MTGOX isnt going to shoot themselves in the foot and add LTC before they have the capacity to handle it- it will take additional employees and workstations to deal with the LTC load, and they're still trying to get a handle on their current workload. 

Up until the weekend, BTC had hit a few days of relative stability.

Everyone got bored -- wanted something to trade.

"Heyyy, these altcoins are cheap...and I can buy so many with just a few BTC"

Crazy runs on all the altcoins proceeded.

When Bitcoin volatility and growth resumed, everyone wanted back in on the cash cow. Who wants to stick with an unproven competitor when the workhorse is moving full steam ahead, right?

Once BTC settles down again, the AltCoins will have another resurgence.

Really because LTC has remained stable and actually has risen today.  Hm... should be a tip off for even the dumbest investor.
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