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Author Topic: when bitcoin goes up most altcoin prices down why?  (Read 2036 times)
elaking
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August 07, 2017, 08:02:34 PM
 #1

can anyone explain me Why when bitcoin goes up most altcoin prices down every time.

i think traders sell alt-coins to buy the BTC

02)  when ETH goes up and ETH alt coins came down is this happen ?
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August 07, 2017, 09:24:44 PM
 #2

Your guess would be correct! Most, if not all, traders use Bitcoin as their main trade medium. By that I mean they usually convert the altcoin back to Bitcoin when they are finished trading. This means that altcoin drops and Bitcoin price increases.

Another reason could be a mass migration of people from an altcoin to Bitcoin. For example, when Ethereum forked, Bitcoin saw a price jump as many people changed their assets in Ethereum to Bitcoin to avoid the fork. The same happened when all exchanges froze Ethereum transactions in July. Everyone switched to Bitcoin after seeing that Ethereum was not exactly reliable. Hence, Ethereum saw a price drop and Bitcoin, a slight price increase. The pattern occurs for Ethereum and Ethereum altcoins.

However, these are not the only factors involved in determining the price of Bitcoin. There are other elements prevalent in determining Bitcoin price. But for now, I think I answered your question.

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August 08, 2017, 09:07:34 AM
 #3

Your guess would be correct! Most, if not all, traders use Bitcoin as their main trade medium. By that I mean they usually convert the altcoin back to Bitcoin when they are finished trading. This means that altcoin drops and Bitcoin price increases.

Another reason could be a mass migration of people from an altcoin to Bitcoin. For example, when Ethereum forked, Bitcoin saw a price jump as many people changed their assets in Ethereum to Bitcoin to avoid the fork. The same happened when all exchanges froze Ethereum transactions in July. Everyone switched to Bitcoin after seeing that Ethereum was not exactly reliable. Hence, Ethereum saw a price drop and Bitcoin, a slight price increase. The pattern occurs for Ethereum and Ethereum altcoins.

However, these are not the only factors involved in determining the price of Bitcoin. There are other elements prevalent in determining Bitcoin price. But for now, I think I answered your question.



thank you for your reply

may i asked you this?

1) when the segwit happened why all coins went down that period ? .that fork not related to alt coins,i saw ETH also went down .but LTC made a good move that period



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August 08, 2017, 10:12:35 AM
 #4

I guess people use Bitcoin and Ethereum as Dollar and Euro. So they dump their other investments to turn btc and eth. They both are the safest coins.

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CowboyKiller
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August 08, 2017, 10:47:23 AM
 #5

I guess people use Bitcoin and Ethereum as Dollar and Euro. So they dump their other investments to turn btc and eth. They both are the safest coins.
Maybe this is new scenario of whales on market in recently, because in early this year, we also see the crypto market have mega bullish trend all cryptocurrency on market, even shitcoin join this trend too. Just buy and set your target, wait one month you can enjoy huge profit from do that.
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August 08, 2017, 12:33:19 PM
 #6

Like I was saying in july, there was an HUGE fear factor created in BTC VS aug 1 fork. Now that aug 1 is passed everything is fine with BTC there is now a rising trend. People are now in FOMO mode and dump their alts for BTC. Alts with start to rise again, when BTC price will stabilize.


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August 08, 2017, 12:41:38 PM
 #7

It is because when BTC is very strong, people would usually transfer to BTC, thereby dumping their held alts. The dump will of course affect the price of alts.

But this is not the fixed rule. As a matter of fact, those who are holding some alts right now that are actually losing, might end up gaining on the overall even if the equivalent value of their alts in BTC is still low. It is because the price of BTC is so high.


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Bowtiesarecool
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August 08, 2017, 12:51:22 PM
 #8

It is because when BTC is very strong, people would usually transfer to BTC, thereby dumping their held alts. The dump will of course affect the price of alts.

But this is not the fixed rule. As a matter of fact, those who are holding some alts right now that are actually losing, might end up gaining on the overall even if the equivalent value of their alts in BTC is still low. It is because the price of BTC is so high.
Think it's because the value of the alt against BTC remains the same, while the current value of BTC against the alt has shot up.

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August 08, 2017, 01:06:55 PM
 #9

This used to be very much so the case, but with the injection of USDT in the market things are even more complicated now.

We used to just have alts -> BTC exchange rate (IE ETH/BTC)

But now a lot of markets can have two pairs (IE ETH/BTC ETC/USDT)

What this does is that people who are trading for USDT see one thing and possibly more stable (IE USDT price remains the same because nobody thinks the coin is going down)
This also triggers other traders who are only looking at BTC (IE ETH/BTC is dropping due to BTC increasing and ETH/USDT staying the same, this leads to people either dumping or buying ETH/BTC which triggers buys in ETH/USDT)

Yeah it's crazy.

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August 08, 2017, 01:18:14 PM
 #10

you can't really come up with stuff like this, they never work 100% of the time. there was a time when i though this is true but there are so many exceptions that it won't work.
yes in most of the times when bitcoin price goes up, altcoins drop hard. but that is mainly because altcoins are pump and dumps and the pumpers leave altcoin market to buy bitcoin before it goes higher than their reach. then they make profit on the rise and come back to altcoins before the correction.
rinse and repeat for maximum profitability.

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August 08, 2017, 02:56:32 PM
 #11

can anyone explain me Why when bitcoin goes up most altcoin prices down every time.

i think traders sell alt-coins to buy the BTC

02)  when ETH goes up and ETH alt coins came down is this happen ?
Many who ask like you with the same question.People who invest in bitcoin may not necessarily know altcoin, therefore we should introduce them with altcoin.But with time they will know altcoin We must patiently mine or trade in altcoin Definitely altcoin will on going to the moon Smiley

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August 08, 2017, 05:13:54 PM
 #12

A lot of people will "stash" their funds in BTC when they're not trading, meaning they'll drop altcoins and buy BTC, thus increasing its price.
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August 08, 2017, 05:39:43 PM
 #13

That is because all Altcoins are valued in BTC not in dollars.
For example, Bitcoin is $100 and you have 0.10
You wanna buy Ethereum and Ethereum is 0.10
So you buy one eth, and Bitcoin goes to 200, your eth will probably go down to 0.05 and will have the same price ($100)
If the Altcoin goes Up (in this case the ethereum) your eth will rise in btc too.
By the way, altcoins will always go up doesnt matter what happens, so it is better to invest in solid coins like ethereum, monero, siacoin and digibyte.


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August 08, 2017, 05:45:55 PM
 #14

can anyone explain me Why when bitcoin goes up most altcoin prices down every time.

i think traders sell alt-coins to buy the BTC

02)  when ETH goes up and ETH alt coins came down is this happen ?
Yes it do happen but not all the times because prices wont really goes on that way and somehow its not correlated to each other.We may see that price do go in that way but when the time they do go the same way we would really know what would be the reason behind on that. If altcoins goes down then thinking of that users decide already to save up on bitcoin.

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August 08, 2017, 09:09:33 PM
 #15

It seems forking will result another coin and people would keep their BTC.
Altcoin is not a focus for Altcoin owner.
They hunt for BTC to get BTC and its new forked coin
I ll keep my BTC too
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August 08, 2017, 09:29:02 PM
 #16

because whale sell their alt and buy btc, and small fish follow them, thats why alt going down and btc up

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August 08, 2017, 09:32:27 PM
 #17

Your guess would be correct! Most, if not all, traders use Bitcoin as their main trade medium. By that I mean they usually convert the altcoin back to Bitcoin when they are finished trading. This means that altcoin drops and Bitcoin price increases.

Another reason could be a mass migration of people from an altcoin to Bitcoin. For example, when Ethereum forked, Bitcoin saw a price jump as many people changed their assets in Ethereum to Bitcoin to avoid the fork. The same happened when all exchanges froze Ethereum transactions in July. Everyone switched to Bitcoin after seeing that Ethereum was not exactly reliable. Hence, Ethereum saw a price drop and Bitcoin, a slight price increase. The pattern occurs for Ethereum and Ethereum altcoins.

However, these are not the only factors involved in determining the price of Bitcoin. There are other elements prevalent in determining Bitcoin price. But for now, I think I answered your question.



thank you for your reply

may i asked you this?

1) when the segwit happened why all coins went down that period ? .that fork not related to alt coins,i saw ETH also went down .but LTC made a good move that period





Everyone sold alts to buy btc and get that sweet sweet bch free money

caeles
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August 16, 2017, 05:54:09 PM
 #18

can anyone explain me Why when bitcoin goes up most altcoin prices down every time.

i think traders sell alt-coins to buy the BTC

02)  when ETH goes up and ETH alt coins came down is this happen ?

It is just a supply and demand problem. The amount of bitcoin is lesser than the amount of altcoin or we can say that the number of investors are lesser in bitcoin and higher in altcoin because it is cheaper. Because altcoin has many supply, we can earn it as fast as we want but when we convert it to bitcoin it is not that higher because bitcoin has lesser supply, the supplier make its value higher.

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August 16, 2017, 07:56:52 PM
 #19

How can bitcoin rise? When people buy it. People buy it with usdt, usd or other altcoins, they sell all their altcoins to buy bitcoin so altcoin prices decrease.

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