Alts fall, Bitcoin falls ... where is the money going?

[cramcram21]

Alts and bitcoin falls because of the holders cashing out,
The alts drop down because they took their profit and it also goes with bitcoin.

[gentlemand]

At best it's price neutral. People swapping alts for BTC takes place on alt exchanges. Bitcoins aren't for sale for dollars on there.

More likely it's price negative. If people are dumping alts they'll then sell those bitcoins for dollars or whatever.

And most of that money never really existed anyway. It's all hot air and it's leaking ever faster.

[joebrook]

Hi

Thread title says it basically.

Almost all Altcoins are currently falling, which means they are dumped for Bitcoins.

So Bitcoins should be bought and therefore rising => but they are also falling.

Why is that?

Since the currency rose these recent months, people are offloading their bitcoins so that they may reap their investments, we are all investing so that we can cash out at some point and some people have reached that point.

[Togie]

Hi

Thread title says it basically.

Almost all Altcoins are currently falling, which means they are dumped for Bitcoins.

So Bitcoins should be bought and therefore rising => but they are also falling.

Why is that?

maybe people exit from alts to bitcoin then exit to fiat

[davei]

This what happened with bitcoin when people were selling ethereum, what people are basically doing is selling their altcoins to get fiat but as bitcoin is currently the easiest way of getting fiat people are dumping alts and buying bitcoin and as they want fiat they end up selling those bitcoins also which leads to the fall of bitcoin. This happens most of the time nothing new

This all is happening because everyone is not certain about segwit2x implement result, so in fear of the price can go down so everyone wants to cash out and waiting for the August 1 and if the price dumps then they can buy back in low price.

Is anything in particular happening on August 1?

[avikz]

Hi

Thread title says it basically.

Almost all Altcoins are currently falling, which means they are dumped for Bitcoins.

So Bitcoins should be bought and therefore rising => but they are also falling.

Why is that?

Well, that's the normal dynamics of any market around the world. It mainly follows the demand supply chain and public sentiment. If majority of the investors are bullish about a particular asset, they will invest in heavily and the demand will increase. So the if the demand increases, the price will also increase.

On the other hand, if the majority of the investors and bearish about any asset, they will start selling it so the supply will increase and the price will decrease. Currently most of the coins are facing price correction and so as bitcoin. It is the best time to buy more at a cheaper rate. 

[darkangel11]

Is anything in particular happening on August 1?

To tell you the truth, either nothing or something very good for BTC. If somebody is cashing out his altcoins it should be to get some fiat ready and waiting in case dumbasses panic and sell their BTC.
BTC is falling mostly because there's no buying pressure. If people don't buy it won't keep steady because of mining. Miners are regularly selling to pay their bills, so there's always fresh coins on the market for people to buy. If there are no such people we have a price drop.

Another thing note is that if you had fiat and knew there's a possibility of a drop in the coming weeks, would you buy now or wait and see?

[grermezter]

Bitcoin and other cryptocurrencies are falling all because of analyst speculations, people are afraid to invest more money into it at the money for the fear of losing it all.  Late investors are really skeptical at this juncture, they  fear a deep plunge after the recent price skyrocketing.

[adaseb]

Bitcoin is going down because the ICO developers are selling their ETH for BTC and then selling BTC for USD and then selling USD for Lambos/Blow/Hookers.

[Meuh6879]

Is anything in particular happening on August 1?

Source : https://bitcoinmagazine.com/articles/countdown-segwit-these-are-dates-keep-eye/

[HeRetiK]

No such thing as eternal growth. Whenever Bitcoin grows, the alts grow even more. Whenever Bitcoin falls, the alts fall even harder.

Bitcoin is going down because the ICO developers are selling their ETH for BTC and then selling BTC for USD and then selling USD for Lambos/Blow/Hookers.

♫ It's the circle of life... ♬

[tigershark]

Hi

Thread title says it basically.

Almost all Altcoins are currently falling, which means they are dumped for Bitcoins.

So Bitcoins should be bought and therefore rising => but they are also falling.

Why is that?

Probably a lot of people are dumping for fiat because they see the correction happening or they fear the fork coming. I will just hold Bitcoin for now because I would rather keep it than sell. I do some trading, but right now I would rather try lending out for profit because a lot of people want to borrow right now.

[error08]

Because it is a manipulation to the market, there are some groups whether they are the whales or exchanges could make bitcoin price drop like this, they just encourage for more people sell bitcoin but I don't think it works as people know bitcoin will rise and may in rally again after August 1st if segwit2x be implemented. Just wait until the bottom of the dip and buy more bitcoin, do not be late or you will miss great opportunity to get cheaper coins.

[zarados]

Just do not look at red candles. Come back in 3 weeks time to see lots of green ones.

If u re not a speculator, dont trade, just walk away.

Agree, If you want to succeed, think about its success, do not think about the difficulty. Because it will bother you in enjoying the process.

[OmegaSupreme]

Bitcoin is going down because the ICO developers are selling their ETH for BTC and then selling BTC for USD and then selling USD for Lambos/Blow/Hookers.

I think this is a very good point about ICO`s.

[8Habits]

Some or most of it are going to other traders. Well, in cryptocurreny trading, just like in any ordinary trading like forex, there will always a winner and a loser. The winner will get the loses of the losers and most of the consistent winners are the most skilled traders and the most lucky ones.

[Rahar02]

The cycle of cryptocurrencies always repeatable, current dump consider as normal as we've been going through it many times in every year, in every big news/issues. People know there is a big chance for bitcoin to rise if segwit will be implemented as it resolve some problems regarding high fees and unconfirmed transactions.
Where is the money going? It is save in investors pocket until the right time to buy back. they just influence people to sell bitcoin to make it drop further. We may see bitcoin price increase as fast as its decline yesterday even more, because people seems cash out their money from altcoin to be invested on bitcoin.

[BTCTIME247]

i think this will be remembered as the great bull market of 2017.  wonder whats next?

[Andre_Goldman]

Bitcoin is the 'Locomotive' of the crypto economy (about 50% of total crypto market capitalization)  ... it is understandable that any rough movement in bitcoin community will affect the others blockchains. Trading is all about read the psychology of the crowd... since march of this year we been in a bull market up to $3000 (resistance line) ... I think now the smart money is cashing out and I have no idea where they going to invest their money ... bears are taking their profits... taking advantage of the political "problems" we are going through ... I'm not sure where I should draw my support line ... I'm expecting something around $1600
...but by the end of the month we will see what bulls and bears are up to ... so be prepared

I do agree with that technical analysis here ...

https://www.youtube.com/watch?v=lmuYDpKV1Ks

but remember that different traders have different views about what they think the market looks like. On websites like tradingview you will see hundreds of charts and analysis often one contradicting another. So do your own research... it is a minus zero-sum game.

and be prepared try to be on track ...

https://www.youtube.com/watch?v=2k6I7NYvgIQ

[Juggy777]

Hi

Thread title says it basically.

Almost all Altcoins are currently falling, which means they are dumped for Bitcoins.

So Bitcoins should be bought and therefore rising => but they are also falling.

Why is that?

I have been screaming on top of my voice and saying stay away from alts, they are not good at all, but people just won't stay away, and alts falling and Bitcoin rising is not at all related. Alts fall cause they have a history of failing, they look good initially and then all of sudden go bust look at one coin. Bitcoin normally falls a bit but now it's due to August 1st post that I expect a huge rally coming in Bitcoins. Also Bitcoin works on demand and supply principles.