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Author Topic: If Bitcoin skyrockets, how will it affect alt coin prices?  (Read 1596 times)
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July 11, 2017, 09:24:08 PM
 #1

This might be a dumb question, but I thought I'd ask it anyway. I've noticed that every time Bitcoin significantly drops it drags down the prices of alt coins. Now let's assume that the price of Bitcoin skyrockets in August. Would that increase the price of most alt coins as a result?

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July 11, 2017, 09:26:53 PM
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Of course and the alts will skyrockets. But bitcoin is not going there any time soon. May be after Christmas holidays and early 2018. But at this point seems 2017 will a hard year from now on for BTC. Especially with the SegWit drama around and constantly moving dates about it.

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July 11, 2017, 09:28:02 PM
 #3

Well its proportional,so yeah like the guys said,if btc skyrockets so will altcoins
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July 11, 2017, 09:35:13 PM
 #4

This might be a dumb question, but I thought I'd ask it anyway. I've noticed that every time Bitcoin significantly drops it drags down the prices of alt coins. Now let's assume that the price of Bitcoin skyrockets in August. Would that increase the price of most alt coins as a result?

BTC going up means more people are buying BTC. When more people are buying BTC, then there is theoretically more BTC available with which to buy altcoins, so naturally the altcoin prices will rise too.
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July 11, 2017, 09:44:51 PM
 #5

This might be a dumb question, but I thought I'd ask it anyway. I've noticed that every time Bitcoin significantly drops it drags down the prices of alt coins. Now let's assume that the price of Bitcoin skyrockets in August. Would that increase the price of most alt coins as a result?

Based on observation, bitcoin price rise equates to some altcoins going places as well. Yes, I'm assuming that it drags the price. However, I don't know what's the reason behind it.

Of course and the alts will skyrockets. But bitcoin is not going there any time soon. May be after Christmas holidays and early 2018. But at this point seems 2017 will a hard year from now on for BTC. Especially with the SegWit drama around and constantly moving dates about it.

Its too early to speculate what's the price of bitcoin after the activation. But I think it will dip a little then bounce back and the price moving up at the end of 2017. I don't think we need to wait after Christmas to see strong price.

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July 11, 2017, 11:15:42 PM
 #6

This might be a dumb question, but I thought I'd ask it anyway. I've noticed that every time Bitcoin significantly drops it drags down the prices of alt coins. Now let's assume that the price of Bitcoin skyrockets in August. Would that increase the price of most alt coins as a result?

Sometimes the reason for a drop or rise in bitcoin is the same reason for a rise or fall in altcoins as well. But other times they can be completely independent of each other. For example if there is some positive news out about Ethereum, then that coin may rise in price relative to bitcoin. The same is true for any other coin. And even if they all drop or rise at the same time, the percentage change will not all be the same. You can't really predict altcoin performance based on bitcoin performance.
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July 12, 2017, 04:41:30 AM
 #7

This might be a dumb question, but I thought I'd ask it anyway. I've noticed that every time Bitcoin significantly drops it drags down the prices of alt coins. Now let's assume that the price of Bitcoin skyrockets in August. Would that increase the price of most alt coins as a result?
As usual,when bitcoin price rises,altcoins would start bleeding and their price would start falling.It would create panic among investors and they would immediately sell their altcoins to buy bitcoins which would further make altcoins price to fall more.Such a situation would only change when bitcoin price once again falls a little.

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July 12, 2017, 06:54:54 AM
 #8

This might be a dumb question, but I thought I'd ask it anyway. I've noticed that every time Bitcoin significantly drops it drags down the prices of alt coins. Now let's assume that the price of Bitcoin skyrockets in August. Would that increase the price of most alt coins as a result?

Depends on your point of view. From a Fiat perspective, most alts usually stay at more or less the same level. Which means that from a Bitcoin perspective, they drop like hell. Most alts only flourish when Bitcoin is somewhat stable or slightly growing.

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July 12, 2017, 10:33:47 AM
 #9

This might be a dumb question, but I thought I'd ask it anyway. I've noticed that every time Bitcoin significantly drops it drags down the prices of alt coins. Now let's assume that the price of Bitcoin skyrockets in August. Would that increase the price of most alt coins as a result?

Depends on your point of view. From a Fiat perspective, most alts usually stay at more or less the same level. Which means that from a Bitcoin perspective, they drop like hell. Most alts only flourish when Bitcoin is somewhat stable or slightly growing.

Indeed. And those of us who were expecting btc to surge up may need to reevaluate our predictions or we may end up unprepared for a long 2017. Though i'm not yet losing hope here. Anyways the current price is still way above btc's price at this time last year. Hat goes with my other alt investments which are now all below the entry point when i bought them

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July 12, 2017, 10:53:11 AM
 #10

It depends on the reason for the skyrocket. Alts would've fallen through the floor if the ETF had passed because Bitcoin would then be at a level of legitimacy they couldn't attain.

Perhaps if there's successful scaling that goes smoothly that'll take away some of the perceived 'benefits' of alts too and they'll fall, even though it's all fictional anyway.

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July 12, 2017, 11:29:13 AM
 #11

This might be a dumb question, but I thought I'd ask it anyway. I've noticed that every time Bitcoin significantly drops it drags down the prices of alt coins. Now let's assume that the price of Bitcoin skyrockets in August. Would that increase the price of most alt coins as a result?

BTC going up means more people are buying BTC. When more people are buying BTC, then there is theoretically more BTC available with which to buy altcoins, so naturally the altcoin prices will rise too.
Well, this is rules in 2017 of crypto market, although in history when Bitcoin rising up, the price of Altcoin will falldown and vice versa.

In present, status SegWit2x of Bitcoin really damage the price of crypto market, nearest death we can see the scared of trader increasing

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July 12, 2017, 11:34:41 AM
 #12

if you look back at earlier this year when the big altcoin rally started for every single altcoin you can see the reason for all these rises began with the uncertainty about bitcoin and its future. because there were a lot of FUD circling bitcoin!

now we are here at the crossroad where the fate of bitcoin will be determined. and when bitcoin implements the scaling solution in August everything will be clear in the path ahead and the big bitcoin skyrocket
by that time i expect an even bigger drop in altcoins because the money will exit and come back to bitcoin.














 

 

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July 12, 2017, 11:37:01 AM
 #13

This might be a dumb question, but I thought I'd ask it anyway. I've noticed that every time Bitcoin significantly drops it drags down the prices of alt coins. Now let's assume that the price of Bitcoin skyrockets in August. Would that increase the price of most alt coins as a result?

BTC going up means more people are buying BTC. When more people are buying BTC, then there is theoretically more BTC available with which to buy altcoins, so naturally the altcoin prices will rise too.
Well, this is rules in 2017 of crypto market, although in history when Bitcoin rising up, the price of Altcoin will falldown and vice versa.

In present, status SegWit2x of Bitcoin really damage the price of crypto market, nearest death we can see the scared of trader increasing
It cant really be avoided that traders would really be afraid when they saw that their coin are gradually decreasing but as of now we cant see coins that going nearest to its death and now they are almost going up again turning into greens after that bloody field we did saw yesterdays and the previous days.
Price movements between bitcoin and altcoin isnt anytime that they are irrational because sometimes we do see them on opposite ways. When bitcoin price tends to go up some coins go down and some would go up or even they all go up joining on the increase. Price movements are all in random which we wont really know on where it would go.

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July 12, 2017, 12:00:27 PM
 #14

There is always a conversion ratio between btc and altcoins, so as the btc price increases, it is inevitable that the price of the altcoins will also increase. But after August 1st, it's not really sure when the changes will be made public. But really people are in wait for the rise of the altcoins.

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July 12, 2017, 12:05:15 PM
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If we want to have a real future for crypto, we need to get rid of the dependency/relationship with BTC. As BTC drops it could take the whole market down, while tech is non comparable. It works the other way around as well, if BTC goes up, everything goes up and it is creating value for shit coins which eventually do crypto harm
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July 12, 2017, 03:17:00 PM
 #16

This might be a dumb question, but I thought I'd ask it anyway. I've noticed that every time Bitcoin significantly drops it drags down the prices of alt coins. Now let's assume that the price of Bitcoin skyrockets in August. Would that increase the price of most alt coins as a result?
If bitcoin price rise high in august after segwit activation,then definitely altcoins price would start falling down.It is a normal process since most of altcoin investors would start selling their coins in order to buy bitcoins.Whenever bitcoin rally occurs,almost all altcoins start bleeding.

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July 13, 2017, 04:16:50 AM
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It is possible, but the majority of ETH trading actually use bitcoin so it's harder for people who just know cryptocurrency to get / use ethereum if not through bitcoin first, altcoin market dependence on bitcoin is still very big, still like the dependency of developing country currencies to US dollar. Changing Rp to US $ is easier and cheaper than trying to directly convert Rp into Indian Rupee or Bolivarian Venezuela.

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July 13, 2017, 07:00:42 AM
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What I have seen if Bitcoin skyrockets the rest of the alts are down for a few days until bitcoin consolidates and then the alts usually go back up.
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July 13, 2017, 07:16:47 AM
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Definitely if the price of bitcoin skyrocket others coins will definitely skyrocket with it as we have been seen in price action. Bitcoin is like a gold standard for others crytocurrency as such what ever happen to bitcoin affect others crytocurrency be it positive or negative. You should study the price action for the past few years and you will understand what I am talking about.



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tiggytomb
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July 13, 2017, 07:29:49 AM
 #20

Altcoin prices will follow bitcoin as they are all traded against bitcoin so it plays a huge role, there are other markets also such as ETH and so on but if bitcoins price goes up or down the alt coins price ultimately follows.

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