Why are cryptos going up right now?

[google98]

Hey,

does anyone have an explanation for the current bullrun of cryptos (BTX and ALTs)?

[HCLivess]

go to youtube and search for Marc De Mesel, one of his latest videos

[addias]

go to YouTube and check out Cryptocurrency Market video called "Crypto Investing #42 - What Is The Bitcoin Draft Effect? - By Tai Zen". It pretty much explains what could cause the price increase in alt coins.

[pereira4]

I can easily explain why Bitcoin is going up... simply put, it's very undervalued and has been very undervalued for a long time for what it already is, let alone for what it can become in the future, but what I cant explain is why other altcoins are going up too. Maybe Ethereum bottomed, but I dont see why other random alts are going up, its possible the strong Bitcoin is giving the rest of altcoins a positive aura too.

Im not going to risk going anywhere but bitcoin to be honest..

[s1ng]

For now, many people focussing on bitcoin so indirectly it affect other altcoin as well !
I'm not wonder this kind of even can happen since it's already been predict and it's happen right now

[Lauren Smith]

I have a feeling the holiday season has a little to do with it. Every end of year bitcoin seems to raise in value a bit.
That is not the only reason. I think it has stwblied itself since the last "hack" but who knows maybe there will be another one to manipulate the price to go down so later it will rise. Noone can tell the future though.

[Arrakeen]

As bitcoin surpassed the $1000 mark, mainstream began to take notice.  Sort of a snowball effect, if you will...lets hope this turns into an avalanche

[robelneo]

Not all some of the cryptos that I'm supporting are having a hard time with it's price and it's volume as well not only price but those new ico's are also having a problem on how they can sell their ico to investors,it seems everybody are on Bitcoin because of the appreciation.

[s1gs3gv]

Delayed effect of the halving ?

[c789]

I can easily explain why Bitcoin is going up... simply put, it's very undervalued and has been very undervalued for a long time for what it already is, let alone for what it can become in the future, but what I cant explain is why other altcoins are going up too. Maybe Ethereum bottomed, but I dont see why other random alts are going up, its possible the strong Bitcoin is giving the rest of altcoins a positive aura too.

Im not going to risk going anywhere but bitcoin to be honest..

Yes, Bitcoin is still undervalued.

As for the OP, some alts are rising on their own merit. Monero is in a big climb but has been steadily climbing for a few months, so it's rising on its own merit of what the coin can offer in real life. ETH has almost nowhere to go but up since it's come down so much. As for the others, drafting could explain some. My advice is to only invest in a coin if it offers real-life use cases, and vetted if it's been around for some time. For new coins, vetting can still be done on a limited scale but the real-life aspect still holds. Another way of looking at it: what does this coin do that Bitcoin doesn't? If the answer is "not much" then it will crash in  time.

[shinratensei_]

Delayed effect of the halving ?

No, It caused by massive adoption. A lot of the news had publicized it yesterday. Chinese and indian be main actors in this case. But there are some people were saying bitcoin have the bubble index.

I'd like to call it speculation.

It may to go $2000.

[jeffthebaker]

People who believe in crypto but think BTC is in a bubble are buying altcoins. People who think increased Bitcoin price affects the whole altcoins market are buying. People with money in Bitcoin but ultimately their beliefs in offshoots are buying.

Also, I'd imagine people spend more when the price is higher. For some, spending includes buying shitcoins.

[dinofelis]

Hey,

does anyone have an explanation for the current bullrun of cryptos (BTX and ALTs)?

Nope, but I hate it.  This is increasing still more the speculative aspect of crypto, and killing off all together its usage part (as a currency, to trade goods and services).   I wouldn't even be surprised that big financial institutions are at it, to make it a purely speculative asset they don't mind (yet another derivative-like thing to have in portfolios, swaps, futures, options and other stuff), and get it out of the way of competing with fiat so that they stay master there.

Crypto booms in the speculative domain, and is hence dead as an alternative for fiat.  It is absolutely clear that this is NOT about adoption (as a currency).  It is NOT because suddenly, all people are rushing to Openbazaar and need bitcoins (and hence increase, through Fisher's formula, the amount of stuff bought with a currency, and hence its price).  It is because of more and more people are playing at "greater fool theory", rendering its usage as a currency totally dead, and hence, kill crypto in its infancy as a menace for fiat.    We thought that crypto was going to get killed by law, but it is killed by greater fool speculation.  Crypto will not succeed as a currency.  It will become a purely speculative asset, for which block chain tech isn't even needed any more.

[dinofelis]

Delayed effect of the halving ?

No, It caused by massive adoption. A lot of the news had publicized it yesterday. Chinese and indian be main actors in this case. But there are some people were saying bitcoin have the bubble index.

I'd like to call it speculation.

It may to go $2000.

I don't call this "adoption".  It is "greater fool theory" at its best: people are buying it, to hope to sell it at a higher price.  There are still a whole world of "greater fools" to be captured, so there is still a lot of rising potential.  But it is not "adoption" in the sense of "I want to use it as a currency, to buy goods and services".  That's more or less dead now.

[iamTom123]

The very reason is that many are buying Bitcoin as a good investment vehicle to earn money. Since the value is spiking up, many got interested to get into Bitcoin and this results into the continuous rampage of the Bitcoin value. I just hope that it will not be a burble burst soon.

[Spoetnik]

They all go up & down.. talk to me when LTC is above $30 again...

[dannyk88]

Since BTC is spiking a lot of the other major high volume alts ride the coat tails. If you know how to manage it properly you can make a pretty good return.

[Pursuer]

Hey,

does anyone have an explanation for the current bullrun of cryptos (BTX and ALTs)?

what the hell is BTX? there is no altcoin named BTX that I can find and bitcoin is either BTC (popular short form) or XBT (ISO standard).
and for bitcoin there are too many theories, some say pump, some say Trump, some say halving, some even say China, Africa and India. but I say it is only because bitcoin is undervalued.

and about altcoins I have to say they are getting dumped actually and the rises you may see is only because of the bounce back effect they have because of that dumping. and in some cases it is the normal course of their pump and dump and manipulation.

[dinofelis]

The very reason is that many are buying Bitcoin as a good investment vehicle to earn money. Since the value is spiking up, many got interested to get into Bitcoin and this results into the continuous rampage of the Bitcoin value. I just hope that it will not be a burble burst soon.

That's the fundamental of "greater fool theory".  Buy a collectible, with the idea that you'll find a greater fool that will buy it from you at a higher price.  There's still a lot of room on the up-side for greater fools in bitcoin, as most of the world population is still available to take on that role.

[error08]

Not all some of the cryptos that I'm supporting are having a hard time with it's price and it's volume as well not only price but those new ico's are also having a problem on how they can sell their ico to investors,it seems everybody are on Bitcoin because of the appreciation.

You're right, bitcoin price is contrary to altcoins, if bitcoin price rise other coins will decline as now happens.
My friend always complain about this condition as he expected to get many profits by sell out his crypto but the price keep low until today. That's why we should consider how long to hold altcoin, well I've never do it. Focus only on bitcoin.