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Author Topic: Will Bitcoin continuos uptrend kill off the Alt Market?  (Read 1502 times)
very_452001
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August 13, 2017, 12:11:12 PM
 #1

I can see a lot of bleeding in the Alt market but not on Bitcoin. Surely if this continues the Alts are doomed apart from a few popular Alts that can still survive as Bitcoin cannot have 100% market dominance all the time.

What you guys think?
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August 13, 2017, 12:18:07 PM
 #2

No, altcoins I have followed made big rallies. Bitcoin and altcoins rise together. If Bitcoin make it to 10k USD then I expect Ethereum at least 1k and also for all other tokens similar raise.
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August 13, 2017, 12:30:48 PM
 #3

No, altcoins I have followed made big rallies. Bitcoin and altcoins rise together. If Bitcoin make it to 10k USD then I expect Ethereum at least 1k and also for all other tokens similar raise.

In fact everything is red as for now.

To OP, yes, I think as long as Bitcoin will rise altcoins will get severely hammered. However, counter-rise will be magical !
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August 13, 2017, 12:36:16 PM
 #4

I can see a lot of bleeding in the Alt market but not on Bitcoin. Surely if this continues the Alts are doomed apart from a few popular Alts that can still survive as Bitcoin cannot have 100% market dominance all the time.

What you guys think?
We cant really point out what would be the cause of bearish trend on some altcoin in the market but as of now i dont see that most altcoin are on reds now except bitcoin. Some of them do ride on the trend on bitcoin some may not, its just like that sometimes they do go in opposite trends which we cant really be sure on where would prices go and comparing both fields would really be a confusing for us as a trader.

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turbulence
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August 13, 2017, 12:40:17 PM
 #5

i think soon there will be bitcoin correction and consolidation and then alts can have a huge rise, at least i hope so Grin


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ekin4
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August 13, 2017, 12:41:36 PM
 #6

In fact everything is red as for now.

Nope, everything is not red now. I guess you follow wrong coins in wrong markets.
You better stop trading if you can't keep up with all markets. There were a lot of profits made today already in Etherdelta, Hitbtc and Bittrex.
very_452001
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August 13, 2017, 01:26:48 PM
 #7

Surely there's no room in the market for 800 Alts. Only a few big players including bitcoin can survive i guess unless every single of those 800 Alt currencies have a unique real world usage each and is needed.

Pump and Dump coins are just pump and dump coins.

very_452001
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August 13, 2017, 01:31:16 PM
 #8

Lets take NEO antshares alt as a case study. I see it very bullish even when bitcoin is bullish? I assume NEO bullish price is all thanks to speculation or is it a billion chinese people using it?

What does NEO have that is better than hundreds of Alts already out there?
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August 13, 2017, 01:34:23 PM
Last edit: August 13, 2017, 01:50:38 PM by Charloz24
 #9

ALTS will regain an uptrend when BTC stabilise. It is almost always like that. People sell alts in FOMO in BTC, but then when the rise stop, they will rebuy alts when they are seeing better rise opportunity.
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August 13, 2017, 01:49:05 PM
 #10

when btc corrects, the alts are going to explode Smiley
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August 13, 2017, 01:59:24 PM
 #11

I would like to know the real cause Bitcoin to rally so aggressive too.
Something big must be going on.  Roll Eyes

Self hating nerd that want to escape from reality into the cyberpunk.
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August 13, 2017, 02:02:27 PM
 #12

when btc corrects, the alts are going to explode Smiley

Agreed. Just make sure you've got your popcorn ready. Should be entertaining to say the least.

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August 13, 2017, 02:33:48 PM
 #13

I can see a lot of bleeding in the Alt market but not on Bitcoin. Surely if this continues the Alts are doomed apart from a few popular Alts that can still survive as Bitcoin cannot have 100% market dominance all the time.

What you guys think?

Though other alts are sinking due to the high rise in bitcoin price they don't lose much as you sell them for bitcoin.

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August 13, 2017, 02:38:34 PM
 #14

bearish trend in altcoin market is due to outflow of money into NEO.

I guess chinese money are controlled outflowing into NEO.

All top Altcoins are bleading and lost their worth almost for 50% in last 30 days, here a portfolio showing 30 Altcoins with highest capitalisation since 30 June https://www.cryptocompare.com/portfolio-public/?id=44963

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August 13, 2017, 02:47:03 PM
 #15

I would like to know the real cause Bitcoin to rally so aggressive too.
Something big must be going on.  Roll Eyes
What is happening is fairly simple. The more the price rises, the more people will inevitably become aware of Bitcoin. And the more people are aware of BTC, the more people will get in on it and the higher the price will rise, which in turn will lead to even more awareness.
This will keep going for quite a while, unless every government in the world outlaws BTC (won't happen) or a vastly superior coin shows up and pushes BTC from its throne.
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August 13, 2017, 02:48:32 PM
 #16

This really saddens me. Some altcoins are correlated with BTC. When BTC does pump, some of the coins pumps too. But on this case, most of the altcoins are going down and BTC is still rising. This is not a normal rise on the price of BTC.
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August 13, 2017, 02:52:40 PM
 #17

I would like to know the real cause Bitcoin to rally so aggressive too.
Something big must be going on.  Roll Eyes
What is happening is fairly simple. The more the price rises, the more people will inevitably become aware of Bitcoin. And the more people are aware of BTC, the more people will get in on it and the higher the price will rise, which in turn will lead to even more awareness.
This will keep going for quite a while, unless every government in the world outlaws BTC (won't happen) or a vastly superior coin shows up and pushes BTC from its throne.

Or shall we say that the " big guys " in the market are transferring to BTC and this is pretty much the cause of the abnormal rise on BTC's price. Only those " big guys " are capable of doing so. It does bring awareness to all but only those " big guys " can afford the BTC price right now.
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August 13, 2017, 03:08:50 PM
 #18

I would like to know the real cause Bitcoin to rally so aggressive too.
Something big must be going on.  Roll Eyes
What is happening is fairly simple. The more the price rises, the more people will inevitably become aware of Bitcoin. And the more people are aware of BTC, the more people will get in on it and the higher the price will rise, which in turn will lead to even more awareness.
This will keep going for quite a while, unless every government in the world outlaws BTC (won't happen) or a vastly superior coin shows up and pushes BTC from its throne.

Or shall we say that the " big guys " in the market are transferring to BTC and this is pretty much the cause of the abnormal rise on BTC's price. Only those " big guys " are capable of doing so. It does bring awareness to all but only those " big guys " can afford the BTC price right now.
That's not true. Anybody with any amount of fiat currency can purchase fractions of a BTC. There is no price that is "too high" or "unaffordable". It's always a question of whether or not somebody is willing to pay.
Sure, there is cash flowing from alts into BTC that is also helping the current trend, but that doesn't mean it's all "big guys". People are overestimating "whales" and underestimating the impact of a lot of individuals.

Either way, BTC is poised to rise, regardless of "big guys".
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August 13, 2017, 10:39:41 PM
 #19

Ok when u guys predict bitcoin price will stabilise/correct?
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August 14, 2017, 12:21:23 AM
 #20

Ok when u guys predict bitcoin price will stabilise/correct?

Good question I wish I have the answer, but:

When BTC was under 3000, it was always crashing when it was to go over 3000. With the recent rise, I was under the impression that 4000 would be hard to pass too, but it doesn't seem this time. So my bet would be 5000??? if not, then it's 10 000!
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