Money Moving Back into Bitcoin from Alt-Coins

[AlexBessonov]

As a scaling solution has been reached, it looks as if money is finally flowing back into Bitcoin (https://coinmarketcap.com/). There is a clear downwards trend on all of the alt-coin's value graphs, while Bitcoin has a clear spike in recent days.

Thoughts on what this means for bitcoin / alt-coins in general?

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[Amph]

i don't think that is the case, bitcoin was dumped for another reason(bitmain hard fork, random panic selling?) not because the money went to altcoin, and now they are going back to bitcoin

altcoin are too volatile, it's normal to have them all down and then all up at the same time it happened already some weeks/months go

also ETH did not lose anything, from 0.15 to 0.13, normal market behaviour, other alt are more prone to manipulation

[Herbert2020]

As a scaling solution has been reached, it looks as if money is finally flowing back into Bitcoin (https://coinmarketcap.com/). There is a clear downwards trend on all of the alt-coin's value graphs, while Bitcoin has a clear spike in recent days.

Thoughts on what this means for bitcoin / alt-coins in general?

it means nothing really because this is not a new thing. it happens every year.
each time there is a good altcoin pumping season where all the altcoins get pumped a lot one after another and they give a lot of profit to most old users who know the patterns and those good traders who don't fall for the lies. and the rest who lose money either become experienced and next pumping season they make good profit or they just leave.

and besides this is just the start of the altcoins dump. it will speed up soon and that is when things become catastrophic for them.

[Juggy777]

As a scaling solution has been reached, it looks as if money is finally flowing back into Bitcoin (https://coinmarketcap.com/). There is a clear downwards trend on all of the alt-coin's value graphs, while Bitcoin has a clear spike in recent days.

Thoughts on what this means for bitcoin / alt-coins in general?

At this point all the Bitcoin supporters will say Told you so, I have been personally advocating for only using Bitcoins and nothing else, I had always said they were alts and they would disappoint, many had kept shouting alt would do good but now they all will disappear and only bitcoiners shall stand strong. I am not at all surprised to see this happening, honestly knew it a matter of time before this was to happen. Will once again say stick to Bitcoins only.

[Netnox]

Don't you think that it is still too early to reach such a conclusion? The SegWit code is not ready yet. And it is not known whether the 80% consensus can be maintained for a long duration of time. And also, the last time when I checked, the 24-hour rise in the exchange rates for Ripple (+7.72%) was higher than that for Bitcoin (+4.56%). Some of the other alts are also rising, such as Bytecoin and IOTA.

[Kakmakr]

I think a lot of people are starting to realize that coins like Ethereum is simply a pumpNdump ScamCoin and they are moving back to trusted technologies like Bitcoin. You will also see that people are gaining trust in Bitcoin again, because the scaling issues are nearing it's end now. You will also see a huge flow of capital from Ethereum, when the SEC starts to investigate the founders and developers who benefited from the pre-sale of the tokens. < typical scam coin characteristics >

Bring the Popcorn, this Alt coin show is going to be very interesting. ^hmmmmm^

[c789]

For now, somewhat. But the week before Aug 01, especially the few days before Aug 01, the money will flow back into alts...mostly the top 10 alts.

I'm bullish on Bitcoin and Monero long-term.

[hello_good_sir]

As a scaling solution has been reached, it looks as if money is finally flowing back into Bitcoin (https://coinmarketcap.com/). There is a clear downwards trend on all of the alt-coin's value graphs, while Bitcoin has a clear spike in recent days.

Thoughts on what this means for bitcoin / alt-coins in general?

Scaling solution has not really been reached yet. exactly what happens won't be decided probably until the end of August, whether certain hard forks gets activated or not. The key date here is 1st August as I'm sure you're already aware of for the UASF. There are companies(Bitmain in particular) that want to mine their own altcoin instead of bitcoin if UASF was activated... A bit dumb imo.

For now, somewhat. But the week before Aug 01, especially the few days before Aug 01, the money will flow back into alts...mostly the top 10 alts.

I'm bullish on Bitcoin and Monero long-term.

Agreed, bitcoin in the long run is going to be a heck of an investment. People focus too much on the short run, imo. Investing into altcoins right now is not a good idea, just look at the graph of bitcoin dominance. So many ICOs and crappy projects that somehow is luring traders in.

[Netnox]

For now, somewhat. But the week before Aug 01, especially the few days before Aug 01, the money will flow back into alts...mostly the top 10 alts.

I'm bullish on Bitcoin and Monero long-term.

You are wrong. If 80% consensus could be achieved for SegWit (it is at 79.9% right now), then it is not going to matter. What happens in August 1 will be like damp squib. I expect Bitcoin to eat in to the market shares of the alts and rise to somewhere around $5,000 to $10,000 per coin by the end of this year.

[DoublerHunter]

As the title says, it is true that the most of the investors money are moving back into bitcoin because of the events that are coming and also the good news that we have as of now like the legalization of bitcoin in different countries like Australia and the latest adoption is from India which is one of the country that has big population and it means possibility for a huge demand in the market.

[SimmonenY]

I also think that altcoins will gain in price by the end of July but by the end of summer I think bitcoin will skyrocket up to 5000-6000$ killing altcoins

[TravelMug]

I think investors simply think that bitcoin is the only investment that can truly give them the results that they wanted. There are few alt coins to invest to, but its hard to stay with them simply because its a pump and dump market. Going to bitcoin, is an easy choice to make really. And today's price is looking good $2700 and probably can go higher in the next coming days.

[jaberwock]

https://coinmarketcap.com/charts/

See Percentage of Total Market Capitalization (Dominance)

I see Bitcoin dominance in downfall. Alts in general aren't in long term downtrend, with some exceptions.

Of course a trend reversal would take some time to be seen.

[krishnapramod]

For now, somewhat. But the week before Aug 01, especially the few days before Aug 01, the money will flow back into alts...mostly the top 10 alts.

I'm bullish on Bitcoin and Monero long-term.

You are wrong. If 80% consensus could be achieved for SegWit (it is at 79.9% right now), then it is not going to matter. What happens in August 1 will be like damp squib. I expect Bitcoin to eat in to the market shares of the alts and rise to somewhere around $5,000 to $10,000 per coin by the end of this year.

Most bitcoin users moved their funds to ETH or other alts expecting a chain split in August, but with Segwit2x getting 80% support and if they signal Segwit before August 1 then the possibilty of a split happening is very minute and Segwit getting activated soon is very high so right now money is not flowing to alts, what was flown is coming back to BTC. Yeah, a hard-forking event might create another cloud of uncertainty in the future, but there's enough time to ponder on that.

[Doms]

I wouldn't call this a full reversal yet as some supports need to be tested first for it to be confirmed. If anything, this would temporarily widen the gap between bitcoin and ETH, but we will see how the price of both behave in the next few days. Alt plays are still ok because of their more volatile nature, and now is still a good time for that.

[KrakAJAX]

i don't think that is the case, bitcoin was dumped for another reason(bitmain hard fork, random panic selling?) not because the money went to altcoin, and now they are going back to bitcoin

altcoin are too volatile, it's normal to have them all down and then all up at the same time it happened already some weeks/months go

also ETH did not lose anything, from 0.15 to 0.13, normal market behaviour, other alt are more prone to manipulation

I don't know, I saw eth move down to .11 for a while, and the chart is looking very bearish ATM. Of course in the medium-term we'll be heading into 400 500 you'd hope but the segwit2x could cause BTC hype.

[jaberwock]

i don't think that is the case, bitcoin was dumped for another reason(bitmain hard fork, random panic selling?) not because the money went to altcoin, and now they are going back to bitcoin

altcoin are too volatile, it's normal to have them all down and then all up at the same time it happened already some weeks/months go

also ETH did not lose anything, from 0.15 to 0.13, normal market behaviour, other alt are more prone to manipulation

I don't know, I saw eth move down to .11 for a while, and the chart is looking very bearish ATM. Of course in the medium-term we'll be heading into 400 500 you'd hope but the segwit2x could cause BTC hype.

ETH flash crashed because the network is congested and the etherscan is under some kind of maintenance, so people panic sold. Most exchanges still don't allow ETH withdraw. But other alts are rising and it still not clear if it will affect ETH price long term or not.

[niisarearning]

I dont see any downtrend in alternative coins ether is almost same between range 350$ - 390$ and lite coin is moving upward trend . even ripple also slowly moving . Waves is stable then how can you make the statement

[n0ne]

I wouldn't call this a full reversal yet as some supports need to be tested first for it to be confirmed. If anything, this would temporarily widen the gap between bitcoin and ETH, but we will see how the price of both behave in the next few days. Alt plays are still ok because of their more volatile nature, and now is still a good time for that.

Yeah, this is not a complete reversal. Now a part of people who have been into altcoins for making money are returning back to bitcoin as the price increase has begun after the steep fall towards $2000. Right now both bitcoin and ETH has begun to get higher value. The volatility of alts too decreasing gradually.

[dinofelis]

As a scaling solution has been reached, it looks as if money is finally flowing back into Bitcoin (https://coinmarketcap.com/). There is a clear downwards trend on all of the alt-coin's value graphs, while Bitcoin has a clear spike in recent days.

Thoughts on what this means for bitcoin / alt-coins in general?

I think that the story that "alt coins are gambling instruments for the short term, bitcoin is the "savings account" for long term, is over.  This was true when crypto was essentially bitcoin, bitcoin holding 80% of the entire market cap.  Now, bitcoin is fighting to get back to 40% of the market cap.

I know the arguments against market cap alone, but market cap and volume are coherent.  Bitcoin's volume is right now $1.8 billion.  Total crypto volume is $5.2 billion.  That means that bitcoin is not even the principal PARTNER to trade alt coins.  If the whole of the alt coin market were bitcoin/altcoin, bitcoin's volume should be more than half of the total crypto volume.  It isn't.  If the full $1.8 billion of bitcoin trading is bitcoin/altcoin trading (and no "pure"bitcoin stuff), then this can explain at most $3.6 billion.  The remaining $1.6 billion is ALTCOIN PURE, with no bitcoin intervention.  Altcoin/altcoin, or altcoin/fiat.  Note that the altcoin/no-bitcoin is now of the same order as bitcoin volume, and that bitcoin's volume is 34% of the total crypto volume, so even lower than bitcoin's market cap share.

Bitcoin is still the market leader, but it is not a monopoly any more, and the alt coin market is now largely independent of bitcoin.
This wasn't the case until march/april.  I think bitcoin lost forever the crypto monopoly.  It would need a spectacular U turn for this to be undone.
Personally, I think this is very positive: it will make the market open.  A market with a monopoly is never good. 
It is even good for bitcoin.  Without it feeling the heat of competition, it would become a Soviet system.  Bitcoin will be able to resolve its problems, when the bitcoin brand name is mainly eroded.