Altcoins are a joke, only bitcoin matters!

[ozanec123]

Guys, I own 6 different alcoins and during the dip i followed them all go down as the bitcoin was losing in value.  Then yesterday when things started stabilising they were all without any exception all rising in value as the bitcoin raised too. So if bitcoin is driving all prices up and down, what's the point of playing with altcoins if no matter what techonology they use and what team stands behind them they ll just follow the bitcoin lead? I am not sure about you but this last situation depressed me a lot, and I would love to read your opinion.

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[lakimens]

Try ARK, look at it's charts. There's more, but that's the one on my mind right now.

[europesss]

Guys, I own 6 different alcoins and during the dip i followed them all go down as the bitcoin was losing in value.  Then yesterday when things started stabilising they were all without any exception all rising in value as the bitcoin raised too. So if bitcoin is driving all prices up and down, what's the point of playing with altcoins if no matter what techonology they use and what team stands behind them they ll just follow the bitcoin lead? I am not sure about you but this last situation depressed me a lot, and I would love to read your opinion.

BTC needs competitors to make it grow , otherwise you can't see a better btc. That's the key of altcoins. I believe in that someday there will be some altcoins better than BTC.

[spartak_t]

EURO, GBP and CHF are a joke. We only need "the mighty" $.

[AleSergio]

Guys, I own 6 different alcoins and during the dip i followed them all go down as the bitcoin was losing in value.  Then yesterday when things started stabilising they were all without any exception all rising in value as the bitcoin raised too. So if bitcoin is driving all prices up and down, what's the point of playing with altcoins if no matter what techonology they use and what team stands behind them they ll just follow the bitcoin lead? I am not sure about you but this last situation depressed me a lot, and I would love to read your opinion.

At first you were looking on a price of USD, because mostly we have pairs like altcoin/btc than ofcourse you have seen a red market for all altcoins. But if you look closer there are lots of projects which have received zero affect, because of such news. For example ARK has grown during this period, also investFeed has gained good volume You just need to research...

[amirsambudi]

it is true that all bitcoins are affected by the bitcoin price movement, but the development of the project itself is also important so that they can keep their prices and not fall too deep

[BTConFire]

The price only alters because people panic sell altcoins as well when BTC price flinches. Altcoins are easier to mine, some are easier to gamble with, some can be traded fast, some keeps anonymity, some are secure. Those altcoins with a lot of balance and stability won't even budge with a small change in BTC value. However, the recent China's acts made some force sell all their online worth of cryptocurrencies. I guess that brought down the market price of several coins. There are a handful of coins like ARK, XMR and ETH which won't fail you.

[styca]

Guys, I own 6 different alcoins and during the dip i followed them all go down as the bitcoin was losing in value.  Then yesterday when things started stabilising they were all without any exception all rising in value as the bitcoin raised too. So if bitcoin is driving all prices up and down, what's the point of playing with altcoins if no matter what techonology they use and what team stands behind them they ll just follow the bitcoin lead? I am not sure about you but this last situation depressed me a lot, and I would love to read your opinion.

A big part of the answer is trading pairs - moving between fiat and alts generally involves going via bitcoin. Another big part is that we are (still) in quite early days of crypto, and bitcoin is hugely dominant. Which in turn is a reason for the btc/alt trading pairs.

I think as the market matures, and as trading becomes easier and a lot of the projects become embedded in everyday life, then alts will begin to decouple from bitcoin.

But it's not a 100% match at the moment anyway. Coins do rise and fall for good reasons of their own; it's just that this is not always noticeable because it is swamped by the bitcoin effect. If a coin rises $1 because of good progress with the project, and simultaneously falls $4 because bitcoin is tanking, then you don't see the split - you just see the $3 overall drop, and (rough) correlation with bitcoin.

[Carlsen]

Bitcoin and the altcoins do not develope 100% equally.
When you look closer you will see that the alts had a bigger amplitude than bitcoin had. That can be used by the traders to make some extra percent of money.
And then you have to think that this time the whole market of crypto currencies was hit. That does not happen always.
Often you hear good/bad news about just a single coin. Then that one coin behaves completely different than the market.

[Gecko8]

Agree, it is dominated by Bitcoin, but actually it also depends on company itself, which sits behind the altcoin. During the dump itself I had identified an interesting pattern. Obvoiusly POS coin stayed a bit more stable than other altcoins. Probably because most are staking and do not move back and forwards their funds.

[SchlaWinner]

Just because the market is dominated by BTC and (almost) all altcoin charts look similar to btc, that shouldnt mean that altcoins are a joke...

Either you believe in a project and invest long-term or if youre a trader - some coins act more volatile than others esp in respect to btc crashing.. look at okcash for example - from ,00010 back to ,00018 while btc recovered by around 25% (or well as of now, 20%)

So long-term investors went back to were the coin started before btc went down.. and traders couldve jumped in at its low and made 3x the %-gain btc got

[minbosen]

I think the btc looks like the USD and other altcoins are similar to the CNY, CHF and so on, of course you can hold btc as a long term investment, but you can also have some altcoins to make great profit.

[Beta-coiner]

That is because many may have traded using BTC to alt-coin for their value. If BTC is seen as decreasing the individual would rather sell alt-coin at a loss rather than stay with something that is not well established as BTC. Been around here since 2011, nothing has changed.

[Justaguy2]

I think it is narrowminded to state that BTC is the only good coin out there.

/remind you in 10 years

[vithancodai]

when bitcoin going down, i see every altcoin going down ,too, and

today bitcoin rise up and every altcoin rise up ,too . because bitcoin a main cyptocurrencies .

we want trade , we must have bitcoin first .

[FrueGreads]

That is not entirely correct, some altcoins have their unique value, and try to help solve some problem they identify in the world. Take a look to TenX, Monaco and Centra, all trying to make crypto easier to use in the real world, by using the already well spread Visa and MasterCard infrastructure. Centra will even create a decentralized amazon like service. Of course that if their aim is to facilitate the use of crytpo, and the value of coins go down, they also get affected, because they have no business without crypto.

But there are many other altcoins and ICOs that have their own use. Even as pure trade tools they have it's use, but you need to be lucky to know which one gets a pump. Yesterday I saw Nav Coin and CloackCoin rising 41%, way more than BTC or any other alts. You would had some great profits if you had invested in them.

[madbyte]

Bitcoin matters but the altcoins give bitcoin even more value. With the many uses of 100s of altcoins the crypto is an unstoppable train. If it was only bitcoin I think this industry would not be going anywhere. The exchanges would not be here and all the other things growing up around altcoins. More power to altcoins to make bitcoin the new gold standard.

[Cling18]

Guys, I own 6 different alcoins and during the dip i followed them all go down as the bitcoin was losing in value.  Then yesterday when things started stabilising they were all without any exception all rising in value as the bitcoin raised too. So if bitcoin is driving all prices up and down, what's the point of playing with altcoins if no matter what techonology they use and what team stands behind them they ll just follow the bitcoin lead? I am not sure about you but this last situation depressed me a lot, and I would love to read your opinion.

BTC needs competitors to make it grow , otherwise you can't see a better btc. That's the key of altcoins. I believe in that someday there will be some altcoins better than BTC.

I totally agree with this. Bitcoin needs competition so there would be people who could choose where to invest. Some people earned a lot because of trading from bitcoin to altcoins and vice versa. It would be dull if we only have bitcoin. There would be no sense in trading.

[donotlean]

Because bitcoin is main coin.The other coins trade and changes by bitcoin.One friend compare bitcoin adn USD its so true i congrute him.In the real world oil,gold everything buying by USD.All countries banks reserves USD.You can imagine btc likes USD in this area

[YYmeans]

Guys, I own 6 different alcoins and during the dip i followed them all go down as the bitcoin was losing in value.  Then yesterday when things started stabilising they were all without any exception all rising in value as the bitcoin raised too. So if bitcoin is driving all prices up and down, what's the point of playing with altcoins if no matter what techonology they use and what team stands behind them they ll just follow the bitcoin lead? I am not sure about you but this last situation depressed me a lot, and I would love to read your opinion.

I totally can't agree with you , some good altcoins like ETH are good, it has the potential to take up the place of BTC, time will tell.