People selling alts to go back in BTC

[digaran]

I have noticed recently that new fiat money is being injected in bitcoin market while other alt coins held their marketcap stable or even increasing and the same time bitcoin's marketcap is rising and that shows community still has confidence and people are seeing that bitcoin doesn't easily bent to the manipulations and politics.
I remember a time when ETH pumped $1B then bitcoin's marketcap dropped the same amount and that was obvious wasn't it? but now we can see new investors are entering for BTC.

[bryant.coleman]

I have noticed recently that new fiat money is being injected in bitcoin market while other alt coins held their marketcap stable or even increasing and the same time bitcoin's marketcap is rising and that shows community still has confidence and people are seeing that bitcoin doesn't easily bent to the manipulations and politics.
I remember a time when ETH pumped $1B then bitcoin's marketcap dropped the same amount and that was obvious wasn't it? but now we can see new investors are entering for BTC.

Fiat money is being pumped in to BTC only. The alts are not getting any investment in fiat. This can be confirmed from the volume of the BTC/USD trade against either the LTC/USD or ETH/USD trading pairs. Alts like ETH are not being brought for fiat currency such as USD and EUR. They are being purchased with Bitcoins. It means that short-term traders are investing in these alts, hoping that they will give them good profits.

[sasaku bitbit]

Funny is that when the price of Bitcoin is increasing, people are cool and excited about Bitcoin's future. But if Bitcoin is dropping and altcoins as result go up, the same group of people will then lose faith in Bitcoin and start thinking that altcoins can potentially surpass Bitcoin.

Well it was always like that. Most of us who have been around since the beginning became immune long ago. BTC has problems, but there were problems in the past as well. Eventually, it gets sorted out and we move on.

many assume if bitcoin now becomes important because the price of the value that they can so that many are turning to bitcoin but now jiak btc have a problem sometimes but it never happened so the loss of it expired and we can continue the activities

[X-ray]

Yes, it was a temporary game for diversity and a rapid increase in profits. Bitcoin is much stronger and everyone will return to him.

Well, its a trend these days. When bitcoin prices are going higher people sell their alts to buy the bitcoins and on the other side, when bitcoin prices are low we see high in alt prices as people tend to move from bitcoins to altcoins.

Not for these days but it's just usual trend in crypto trade. If the price of bitcoin gets plunged and a lot of bitcoin traders try to get his profit through using altcoin. and other wise they will go back if the price of altcoin gets dumped and try to FOMO bitcoin and at the same time pumping the price of bitcoin.

[Gastotade]

Yes, it was a temporary game for diversity and a rapid increase in profits. Bitcoin is much stronger and everyone will return to him.

Well, its a trend these days. When bitcoin prices are going higher people sell their alts to buy the bitcoins and on the other side, when bitcoin prices are low we see high in alt prices as people tend to move from bitcoins to altcoins.

Not for these days but it's just usual trend in crypto trade. If the price of bitcoin gets plunged and a lot of bitcoin traders try to get his profit through using altcoin. and other wise they will go back if the price of altcoin gets dumped and try to FOMO bitcoin and at the same time pumping the price of bitcoin.

That is right. I am sell some altcoin to get back to bitcoin.

[South Park]

Most of the altcoins are meant for trading purpose. Recently during the price pumping of altcoins a lot of users moved towards it , but at the same time experts analyzed and stated this won't give sustained growth. So users will soon return back to bitcoin. Same as that the increasing price made all to come back.

I don't know about that, while some coins are nothing but an attempt to earn money by the developers , there are some solid altcoins out there doing very interesting stuff and getting investments because they have good technology and not only as a speculators vehicle.

[richardsNY]

Most of the altcoins are meant for trading purpose. Recently during the price pumping of altcoins a lot of users moved towards it , but at the same time experts analyzed and stated this won't give sustained growth. So users will soon return back to bitcoin. Same as that the increasing price made all to come back.

I don't know about that, while some coins are nothing but an attempt to earn money by the developers , there are some solid altcoins out there doing very interesting stuff and getting investments because they have good technology and not only as a speculators vehicle.

Basically every altcoin is nothing more than some sort of a get rich quick tool. Coins get either blatantly premined by their developers, or they instamine their coin at the early stage. Main point is that the developers don't have any incentive to push their coin forward if they haven't got a significant stake in their own project. Let's be honest, the financial aspect is what has the highest priority, and not delivering something useful for the community on a voluntary basis.

[Hazir]

Basically every altcoin is nothing more than some sort of a get rich quick tool.

It is only true in case of new altcoin. We had great coins in the past Litecoin, Dogecoin, even Ethereum - as I remember ETH was founded by a crowdsale.

Coins get either blatantly premined by their developers, or they instamine their coin at the early stage.

Instamine is not necessarily the same as premine. But I agree, I don't like neither of these options.
But sometimes it is the only way for developers to achieve some monetary gratification for their job.

Let's be honest, the financial aspect is what has the highest priority, and not delivering something useful for the community on a voluntary basis.

Community can be toxic as well. Nowadays crowd expect instant profits and super fast developing times. It is impossible.

[lite]

Most of the altcoins are meant for trading purpose. Recently during the price pumping of altcoins a lot of users moved towards it , but at the same time experts analyzed and stated this won't give sustained growth. So users will soon return back to bitcoin. Same as that the increasing price made all to come back.

I don't know about that, while some coins are nothing but an attempt to earn money by the developers , there are some solid altcoins out there doing very interesting stuff and getting investments because they have good technology and not only as a speculators vehicle.

Basically every altcoin is nothing more than some sort of a get rich quick tool. Coins get either blatantly premined by their developers, or they instamine their coin at the early stage. Main point is that the developers don't have any incentive to push their coin forward if they haven't got a significant stake in their own project. Let's be honest, the financial aspect is what has the highest priority, and not delivering something useful for the community on a voluntary basis.

Well nowadays there are ICOs(so many of them), like you said folks want to get rich quick so they invest in them. after missing ethereum train, no one wants to miss another train lol. btw ETH ICO price was 2000 ETH per BTC if i recall correctly, look at the current price.

[richardsNY]

It is only true in case of new altcoin. We had great coins in the past Litecoin, Dogecoin, even Ethereum - as I remember ETH was founded by a crowdsale.

I can agree with Litecoin and Dogecoin, but I seriously doubt that the Ether ICO was completely sold to investors. I am not the only one with the thought of there being a huge load of Ether being fake sold, while they in reality were/are still in the hands of Vitalik & Co. It's pure speculation since there is no way to provide any actual proof to back it up, but everything around their ICO stinks.

btw ETH ICO price was 2000 ETH per BTC if i recall correctly, look at the current price.

Correct. First stage was 2000 Ether to 1 BTC ratio -- 0.0005 BTC per Ether. Second stage was 1337 Ether to 1 BTC ratio -- 0.000748 per Ether. It's mind boggling how its price has gone completely nuts lately. 1 BTC today buys you only 22 Ethers, LOL!!!

[Seansky]

Correct. First stage was 2000 Ether to 1 BTC ratio -- 0.0005 BTC per Ether. Second stage was 1337 Ether to 1 BTC ratio -- 0.000748 per Ether. It's mind boggling how its price has gone completely nuts lately. 1 BTC today buys you only 22 Ethers, LOL!!!

People really tend to sell alts to btc because bitcoin is the easiest way to convert from cryptocurrency to fiat. Those who have hold ETH now from when it was in the first stage must be feeling happy because they got huge profit out of it. What if someone still holds 2000 ETH he/she have bought at the first stage for 1 BTC? He/she might convert it now especially that bitcoin price is now or maybe he/she have done that long ago.

[Simpan]

It is only true in case of new altcoin. We had great coins in the past Litecoin, Dogecoin, even Ethereum - as I remember ETH was founded by a crowdsale.

I can agree with Litecoin and Dogecoin, but I seriously doubt that the Ether ICO was completely sold to investors. I am not the only one with the thought of there being a huge load of Ether being fake sold, while they in reality were/are still in the hands of Vitalik & Co. It's pure speculation since there is no way to provide any actual proof to back it up, but everything around their ICO stinks.

btw ETH ICO price was 2000 ETH per BTC if i recall correctly, look at the current price.

Correct. First stage was 2000 Ether to 1 BTC ratio -- 0.0005 BTC per Ether. Second stage was 1337 Ether to 1 BTC ratio -- 0.000748 per Ether. It's mind boggling how its price has gone completely nuts lately. 1 BTC today buys you only 22 Ethers, LOL!!!

Glad I mined some Ethereum from the beginning. I still keep some of the mined coins.

[nethan1btc]

That's reality to people now because from alts they only get few amounts and in btc they had plenty of it. That decision made by these people is not a very wise principles that they are having specially whe price actually drops, their earnings also declined. For this matters of investments like a business oriented person, I should not risk for a declining product amount and I should find a solution for the business product I had, so same as alts that generates bitcoin profit I am doing that. But for now while btc price is very progressive,  people from alts are coming back to re invest again for better profit.

[cryp24x]

In most cases, altcoin price are just a bubble.  So when this bubble burst, people who are involved on that altcoin will definitely convert their altcoin to Bitcoin thus the selling of alts to go back in BTC.  This process is a cycle so it will happen every now and then.

[Yuuto]

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.

What if a Crapload of new bitcoin users decide to join that had previously only used altcoins? will btc value skyrocket? in my opinion no other coin is as good for the long term as bitcoin and i'm hoping the majority of altcoin users will start to swing towards that same opinion. if not then will bitcoin users start swing toward the same understanding that altcoin users seem to have for altcoin? im curious to see if there is another cryptocoin that is actually better then btc in the long run anyways.

[futureofbitcoin]

In most cases, altcoin price are just a bubble.  So when this bubble burst, people who are involved on that altcoin will definitely convert their altcoin to Bitcoin thus the selling of alts to go back in BTC.  This process is a cycle so it will happen every now and then.

Yes and the primary concern of investing in altcoins is to get more bitcoins so when they see hike in the price of bitcoins it will take no time for them to sell their altcoins and get bitcoins in return and that is a common practice in trading to make regular profits by growing their bitcoins.

[richsoon]

In most cases, altcoin price are just a bubble.  So when this bubble burst, people who are involved on that altcoin will definitely convert their altcoin to Bitcoin thus the selling of alts to go back in BTC.  This process is a cycle so it will happen every now and then.

Yes and the primary concern of investing in altcoins is to get more bitcoins so when they see hike in the price of bitcoins it will take no time for them to sell their altcoins and get bitcoins in return and that is a common practice in trading to make regular profits by growing their bitcoins.

Yeah, everything is still priced in bitcoin, it might be different if the majority of alts were priced in $ instead but right now everything is linked to btc and very few people get alts for the sake of those alts.

[Vika0170]

In most cases, altcoin price are just a bubble.  So when this bubble burst, people who are involved on that altcoin will definitely convert their altcoin to Bitcoin thus the selling of alts to go back in BTC.  This process is a cycle so it will happen every now and then.

Yes and the primary concern of investing in altcoins is to get more bitcoins so when they see hike in the price of bitcoins it will take no time for them to sell their altcoins and get bitcoins in return and that is a common practice in trading to make regular profits by growing their bitcoins.

Yeah, everything is still priced in bitcoin, it might be different if the majority of alts were priced in $ instead but right now everything is linked to btc and very few people get alts for the sake of those alts.

Some altcoins have risen in price for several months by 300 or more percent. Therefore, it makes sense to invest some money in alternative coins. Thus it is not necessary to forget that cryptocurrency is a risk

[YuginKadoya]

In most cases, altcoin price are just a bubble.  So when this bubble burst, people who are involved on that altcoin will definitely convert their altcoin to Bitcoin thus the selling of alts to go back in BTC.  This process is a cycle so it will happen every now and then.

Yes and the primary concern of investing in altcoins is to get more bitcoins so when they see hike in the price of bitcoins it will take no time for them to sell their altcoins and get bitcoins in return and that is a common practice in trading to make regular profits by growing their bitcoins.

Yeah, everything is still priced in bitcoin, it might be different if the majority of alts were priced in $ instead but right now everything is linked to btc and very few people get alts for the sake of those alts.

Some altcoins have risen in price for several months by 300 or more percent. Therefore, it makes sense to invest some money in alternative coins. Thus it is not necessary to forget that cryptocurrency is a risk

I think it will risen in price because of the fluctuating price of bitcoin, we can really see other altcoins are affected by it's movement and I think that many are simply investing to other altcoins now, but I think like I always do I investin both alts and bitcoin because there is a fluctuation in both of them that sometimes can bring you with earnings, but be very careful with investing over to alts, because of the legitimacy of other alts you can never know if they will dump or not.

[bohr]

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.

Right now everything seems to be going up so it seems to me no one is selling to invest in bitcoin rather what we are seeing is new money being injected in almost any major currency and that means that you are making money no matter where you are in terms of your investments.