People selling alts to go back in BTC

[zimmah]

There doesn't really seem to be any reason why people suddenly reinvest in bitcoin because nothing really happened to bitcoin recently.

Yeah the price is recovering a bit, but the fundamentals are still shaky so it's all hot air.

[Leonard2016]

many came back to bitcoin after the initial altcoin dumps and those were good traders knowing what they do. but there are still two groups left, one is those bagholders still holding worthless altcoins even after the dump thinking it will be worth more!
and others are those who invested in other altcoins like Doge and Litecoin and Ripple and are still making profit from them specially litecoin since the other two have ended their pump.

[rajasumi3]

it was being done from the very beginning .people bought altcoins at a very low price and when the price hit its all time they use to sell all the altcoins. with that profit they would buy the bitcoins and sell it in exchange for the fiat.

[pooya87]

There doesn't really seem to be any reason why people suddenly reinvest in bitcoin because nothing really happened to bitcoin recently.

Yeah the price is recovering a bit, but the fundamentals are still shaky so it's all hot air.

only weak hands got out and there is a reason for them coming back and that is the price itself, the panic sell and then panic buy.
and also there is nothing shaky about the fundamentals, at least i don't see anything anyways!

[bajing]

No, even they buy altcoins, they still trade bitcoin because they know if bitcoin get lost support surely the price bitcoin will down much.

[no0dlepunk]

Yes, they got out of ETH and went back to BTC... now behold! wait for the dump

[BitHodler]

No, even they buy altcoins, they still trade bitcoin because they know if bitcoin get lost support surely the price bitcoin will down much.

There are a lot people that just convert all their hodlings back and forth. If the price of Bitcoin goes up, they immediately convert everything back to Bitcoin, that's how they operate.

Those with a bit more understanding are trading both altcoins and Bitcoin at the same time. These people don't limit themselves to doing one thing when they can profit from several things at the same time.

[Slark]

Yes, they got out of ETH and went back to BTC... now behold! wait for the dump

Dump of the ETH? Price reduction is happening right now. But I expect it won't drop below $40 where the next support is.

There doesn't really seem to be any reason why people suddenly reinvest in bitcoin because nothing really happened to bitcoin recently.

That is exactly how bitcoin trading works. Traders are selling the news, they were motivated by FUD about hard fork and ETF decline.
When FUD  turned out to be not important (as always) they decided that only bitcoin offers the best stability out of other cryptos.

[york780]

people selling bitcoin to buy alts is a better headline.

[SaShiRaJaVu]

people selling bitcoin to buy alts is a better headline.

If you are really following the price of bitcoin and alt coins you wont make a statement like this. The alt coin markets move when ever there is a price dump in bitcoin and when the price of bitcoin increases the price of alt decreases and it has being like that from the beginning and crypto currencies are really volatile and on a daily basis we could see a pump in one of the many alt coins we have and since we have a lot of coins it is difficult of follow everything to be frank.

[Devboy]

people selling bitcoin to buy alts is a better headline.

If you are really following the price of bitcoin and alt coins you wont make a statement like this. The alt coin markets move when ever there is a price dump in bitcoin and when the price of bitcoin increases the price of alt decreases and it has being like that from the beginning and crypto currencies are really volatile and on a daily basis we could see a pump in one of the many alt coins we have and since we have a lot of coins it is difficult of follow everything to be frank.

I'm noticing same last couple of days. I have pretty good activity on alt coins trading site, last couple of days bitcoin price seens like upfront otherside most of alt coins going dump. I'm preey confident about that bitcoiin doing a great role in alt coins trading market.

[lionheart78]

The bigger the alts become, the more likely they are to have their own maximalists. This is no longer 2013. Some of the stuff floating around is here to stay. Throw in all the USD options now too and there's no real desire or need for many people to go back to BTC.

I agree with you on this, but I guess people who are in for profit will just goes in and out of Bitcoin and altcoin if they see that it will give them profit.  Now that negative news about HF is fading, people are getting comfortable with Bitcoin again and with the shown increase in price begin to move their funds to Bitcoin again getting ready for new ATH and profit that they can get from Bitcoin  before going back to Altcoin for another batch of profit.

[ASHLIUSZ]

people selling bitcoin to buy alts is a better headline.

If you are really following the price of bitcoin and alt coins you wont make a statement like this. The alt coin markets move when ever there is a price dump in bitcoin and when the price of bitcoin increases the price of alt decreases and it has being like that from the beginning and crypto currencies are really volatile and on a daily basis we could see a pump in one of the many alt coins we have and since we have a lot of coins it is difficult of follow everything to be frank.

I'm noticing same last couple of days. I have pretty good activity on alt coins trading site, last couple of days bitcoin price seens like upfront otherside most of alt coins going dump. I'm preey confident about that bitcoiin doing a great role in alt coins trading market.

The recent days price increase of bitcoin happen due to the sudden moving of people towards bitcoin from altcoins. Now it seems to gain sustainability along with the market moves. Bitcoin moving good with the support of technology and​the increased acceptance compared to the altcoins that's been getting circulated.

[X-ray]

There doesn't really seem to be any reason why people suddenly reinvest in bitcoin because nothing really happened to bitcoin recently.

Yeah the price is recovering a bit, but the fundamentals are still shaky so it's all hot air.

only weak hands got out and there is a reason for them coming back and that is the price itself, the panic sell and then panic buy.

the good news of bitcoin has brought them back. I mean the main concern is the good news and it will generate the value for bitcoin (pump or dump).

[1Referee]

the good news of bitcoin has brought them back. I mean the main concern is the good news and it will generate the value for bitcoin (pump or dump).

Firstly, there has been no good news that resulted in the price to increase again. It's just a normal market movement in current circumstances. Second, Bitcoin isn't really good news sensitive anymore as was the case back in 2013/2014 and the prior years. Bad news on the other hand, which in most cases isn't even bad news at all, still seems to influence the price in a negative manner. In that regard, for some reason a lot people still think that literally anything can happen with Bitcoin. I think the direct result of this is ignorance.

[york780]

the good news of bitcoin has brought them back. I mean the main concern is the good news and it will generate the value for bitcoin (pump or dump).

Firstly, there has been no good news that resulted in the price to increase again. It's just a normal market movement in current circumstances. Second, Bitcoin isn't really good news sensitive anymore as was the case back in 2013/2014 and the prior years. Bad news on the other hand, which in most cases isn't even bad news at all, still seems to influence the price in a negative manner. In that regard, for some reason a lot people still think that literally anything can happen with Bitcoin. I think the direct result of this is ignorance.

Amen to that. I am glad to read something objective around here.

[Sniper44]

the good news of bitcoin has brought them back. I mean the main concern is the good news and it will generate the value for bitcoin (pump or dump).

Firstly, there has been no good news that resulted in the price to increase again. It's just a normal market movement in current circumstances. Second, Bitcoin isn't really good news sensitive anymore as was the case back in 2013/2014 and the prior years. Bad news on the other hand, which in most cases isn't even bad news at all, still seems to influence the price in a negative manner. In that regard, for some reason a lot people still think that literally anything can happen with Bitcoin. I think the direct result of this is ignorance.

actually good news is still as effective, the problem is that there has been no proper good news. but there have been many proper bad news (bfx hack, split FUD,...).

the good news that most people think is good has been a random small country on the other side of the world that nobody has heard about started accepting bitcoin. but in reality this is not big. so you can't expect a big effect from it either.
and if there is a big one, i assure you that the effect will be the same as the FUD that causes crashes.
for example the halvening, or the recent one about ETF. we saw in both cases (proper good news) price went up a lot.

[gentlemand]

actually good news is still as effective, the problem is that there has been no proper good news. but there have been many proper bad news (bfx hack, split FUD,...).

I can honestly only think of one instance of good news having a direct effect on price and that was during the senate hearings on Bitcoin in 2013. When the old goats started to sound positive the price climbed $50-100 in seconds.

Even in that case I think they were looking for an excuse to explode more than anything. Bad news instantly affects everyone involved with BTC. Good news is usually some nice snippet that might take effect in 2-3 years if ever.

The only good news that I could see having a truly monstrous effect would be the confirmation of the happening of a non contentious scaling solution. That would be genuinely epic.

[alyssa85]

it was being done from the very beginning .people bought altcoins at a very low price and when the price hit its all time they use to sell all the altcoins. with that profit they would buy the bitcoins and sell it in exchange for the fiat.

This. Alts originally were a way to get bitcoins cheap (you waited for the alt pump and sold).

However, there have been a couple of alts that appear to have staying power on their own, so we shall see what happens, especially when bitcoin's flaws become more and more apparent (a couple of days ago, when moving some bitcoin to an exchange, it took 1 hour and 45 minutes to get six confirmations, which is ridiculous - that kind of thing kills a coin expecially as there are now so many attractive alternatives).

[Arcteryx]

Looks like the bottom was 8XX, now that the hard fork fears are going down and bitcoin unlimited is pretty much dead beyond any reasonable expectative, I can see more and more people jumping back in the Bitcoin train. Looks like ETH already peaked and BTC bottomed.

I just watch over top 5 coins which highest exchange rate on coinmarketcap, and It seems that only Dash shows significant decline after reach over $100 and continue to decrease after that. Byteball, Zcash, Dash, Ethereum and now come a new higher one , Jinn (Like Jinn in the bottle maybe : first impression ). Right away after bitcoin climb up again  pass through $1100 and then unconfirmed transaction exceed 10K again, still affordable but as soon as bitcoin price increase, the problem come back and haunts. Whether those valid transaction or another mempool flooding, but we have to pay more fee and wait longer than usual for every single transaction.

It is really confusing only dash is the one to be on a the biggest downward spiral as opposed to the other alts that made their significant upward trends when bitcoin's price was on the decline.
Then again people have been saying dash is just a hype coin. But what was the hype behind it getting past $100 per coin in a mere two weeks.