Poor performance of altcoins on this BTC crash

[thejaytiesto]

BTC crashes because of more chinese bullshit (whatever the government says good or bad, is used by traders to crash the price and buy cheaper then pump higher later on, so it's a good time to buy BTC)

But one would expect that the altcoins make a rise when this happens, we have seen that to the contrary, most alts are red, few a re sightly green... stupid ass Ripple is the one that pumped lol.

[alyssa85]

Suppose Chinese investors have hastily sold their coins for yuan due to this scare (causing the price to tank). They arn't going to put the money in alts, they are going to withdraw their fiat and lie low. The ones who held bitcoin and sent it to their own wallet are also laying low, they don't want to be accused of dodging capital controls.

[olushakes]

BTC crashes because of more chinese bullshit (whatever the government says good or bad, is used by traders to crash the price and buy cheaper then pump higher later on, so it's a good time to buy BTC)

But one would expect that the altcoins make a rise when this happens, we have seen that to the contrary, most alts are red, few a re sightly green... stupid ass Ripple is the one that pumped lol.

I will agree with you that once the price of BTC crashes, then the price of Alts should increase based on the fact that of is measure in relation to it. But at the same time, one should not be oblivious of the fact that things dont always work in black and white and whatever happens to bitcoin, will definitely affects other Alts if people are dropping btc then they are surely dropping alts and it will take time to adjust to reflect the current phenomenon.

[tiggytomb]

Yeah it all seems to be going the wrong way, just have to wait a while and see what becomes of this period before we will see everything back to normal, if you can call anything normal in this world.

[bitcircle]

This is correction phase as we all know there is no one way traffic in crypto world. Soon it will back to it's actual price this will be over $900 within few days. Some people are looking panic due to some restriction upon btc by Chinese Government.

[Ayers]

this is isn't new i remember each time that bitcoin increased altcoin crashed and viceversa, it happen all the time, but this time i'm not seeing bitcoin crashing hard like the last time, therefore i'm worried that altcoin scene will not recover very well this time

BTC crashes because of more chinese bullshit (whatever the government says good or bad, is used by traders to crash the price and buy cheaper then pump higher later on, so it's a good time to buy BTC)

But one would expect that the altcoins make a rise when this happens, we have seen that to the contrary, most alts are red, few a re sightly green... stupid ass Ripple is the one that pumped lol.

I will agree with you that once the price of BTC crashes, then the price of Alts should increase based on the fact that of is measure in relation to it. But at the same time, one should not be oblivious of the fact that things dont always work in black and white and whatever happens to bitcoin, will definitely affects other Alts if people are dropping btc then they are surely dropping alts and it will take time to adjust to reflect the current phenomenon.

bitcoin didn't really crash it was first pumped and then the pump crashed, not the initial value, as i explained above, is very different from a real crash, this exaplin why the altscene still is not pumped again

[thejaytiesto]

Suppose Chinese investors have hastily sold their coins for yuan due to this scare (causing the price to tank). They arn't going to put the money in alts, they are going to withdraw their fiat and lie low. The ones who held bitcoin and sent it to their own wallet are also laying low, they don't want to be accused of dodging capital controls.

I think the chinese will find a way to keep avoiding capital controls, maybe meeting in person with other sellers and exchanging btc for cash in the phone. Of course the volume is not going to be as big as it is in proper exchanges compared to a marketplace... unfortunately it's impossible to avoid capital controls in exchanges if they become regulated.

[harizen]

BTC crashes because of more chinese bullshit (whatever the government says good or bad, is used by traders to crash the price and buy cheaper then pump higher later on, so it's a good time to buy BTC)

But one would expect that the altcoins make a rise when this happens, we have seen that to the contrary, most alts are red, few a re sightly green... stupid ass Ripple is the one that pumped lol.

Not performing well because Bitcoin price is not totally on a crash status.

Increases are as follows:

14% for the last month
36% for the last 1/2 year
133% for the last year
213% for the last 2 years

That Roger Ver's statement is really making sense to me.

[Nemiro]

When the bitcoin is deeply down I will buy more bitcoins and use this bitcoin to buy some cheap altcoins for trading.
Usually, altcoins will increase higher when bitcoin decreases lowly. I ilke this fact so we can keep cheap bitcoins and still bring back more profit in this way. Good Luck to all of you.

[eckmar]

Well look at exchanges. Most of us don't exchange fiat to altcoins, we exchange bitcoin for altcoins. When bitcoin price is up, price of altcoins is up. It's not supposed to be this way but as most exchanges adopted btc>altcoin exchange system i don't see this fact changing any time soon

[J1mb0]

BTC crashes because of more chinese bullshit (whatever the government says good or bad, is used by traders to crash the price and buy cheaper then pump higher later on, so it's a good time to buy BTC)

But one would expect that the altcoins make a rise when this happens, we have seen that to the contrary, most alts are red, few a re sightly green... stupid ass Ripple is the one that pumped lol.

I think I see that the inverse correlation for BTC Pumps/Alt Dumps has become more and more delayed as time goes on. However it does seem to happen eventually. (The BTC halving pump was also delayed compared to time before last - I think). It could go away all together when BTC volume drops to below 50% of all crypto trades and more platform specific fiat gateways come on stream - NXT, WAVES, Counterparty etc.

I think we will see big changes over 2017!  

[Mr.Pro]

Btc dump its only a matter of time when altcoins gonna start a pump and pump price again.

[kumax]

I don't see it as any tragedy, now, it is the right time to buy bitcoin or also altcoins. 
Panic on the market plays in our favour and as Mr.Pro said, it's only matter of time when a pump comes again.
Choose a few coins you believe in and invest in them, before you will regret.

[Warkop]

it seems it is certain people will buy altcoin for now, look at the price of BTC decreased today, began to rise big investors to buy altcoin.

[disconnectme]

You can't just expect all the Altcoins to jack up because Bitcoin is down it will take days before the market react to the price and also remember that most of the coins are traded against BTC not fiat

[Flyskyhigh]

Like it or not, the entire value of the crypto market is correlated to Bitcoin.  When you are talking a hundreds of millions of dollars it going to affect all markets. Everything is linked, not independent.

[Shiroslullaby]

I'm surprised Monero or Ethereum or one of the other top coins hasn't gone up more,
but apparently people are scared of crypto in general right now and holding their money in fiat.

There is a good chance that one of these coins has big gains in the next week or two as long as Bitcoin price doesn't totally crash.
If you pick the right coin you might see 25% to 50% gains over the next few months.

[ImHash]

Which altcoins are you talking about? not the ones premined 99% or in some cases 150%? or maybe the ones only in the bags of devs and few wannabe smart a**es?

[machinek20]

I'm surprised Monero or Ethereum or one of the other top coins hasn't gone up more,
but apparently people are scared of crypto in general right now and holding their money in fiat.

There is a good chance that one of these coins has big gains in the next week or two as long as Bitcoin price doesn't totally crash.
If you pick the right coin you might see 25% to 50% gains over the next few months.

I do agree, most of the chinese user are now laying low and change as much as their coin into fiat, so we are seeing so many price dumping, until the government finished their investigation, we will see the price keep crashing

[cotton ball]

I'm surprised Monero or Ethereum or one of the other top coins hasn't gone up more,
but apparently people are scared of crypto in general right now and holding their money in fiat.

There is a good chance that one of these coins has big gains in the next week or two as long as Bitcoin price doesn't totally crash.
If you pick the right coin you might see 25% to 50% gains over the next few months.

I do agree, most of the chinese user are now laying low and change as much as their coin into fiat, so we are seeing so many price dumping, until the government finished their investigation, we will see the price keep crashing

Remarkably, these events move is always the same every year, bitcoin is always unstable in the early to mid-year. As if the players altcoin and bitcoin rumors in China is to function as a price destroyer. I hope the Chinese government more thoroughly investigate some crypto domestic market such as the three main markets (okcoin, huoby, and Btcc)