Altcoins Plunging

[wc87]

Alts should be pretty attractive for entry right around the fork as they should bounce back hard.

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[HPC1984]

Right now the alts are mostly at a decent discount because of both major forks, it's not just Bitcoin. Ethereum has Byzantium coming and the two for Bitcoin's SegWit2x.

As Dick Clark said: "Out of all this chaos there is profit to be made". I'd also add "if you're smart about it".

[nl247]

Most altcoins are basically just good for being pumped and that is the only advantage they add to the community anyway. Just the ability to trade them with BTC for profit while capitalizing on their pumps. No one believes in them and the future they have, unless we just do not want to face fact and that is why it became so easy for everyone to dump them pretty fast to at least have some bitcoins instead.

Sorry but I disagree.  BTC is king now and probably for a long time still but it will eventually be dethroned...likely by one of these altcoins.

You know why BTC is forking so many times?  Because it is obsolete and it is trying hard to evolve and catch up.  Tech wise, most coins are much better than it now...it is just the first.

And sorry I disagree too. I don't have anything against some altcoins and if you look at my statement very well, I did not say all altcoins, but most altcoins and if you are a trader, you will know this already. However, saying some of this altcoins will dethrone bitcoin, you might need to think very deeply and look at the marketcap, the advantage of being a first mover, and the huge support. If they want to dethrone, they should be my guest as time will definitely tell if they are capable or not, but right now, not a chance!

Most altcoins are basically just good for being pumped and that is the only advantage they add to the community anyway. Just the ability to trade them with BTC for profit while capitalizing on their pumps. No one believes in them and the future they have, unless we just do not want to face fact and that is why it became so easy for everyone to dump them pretty fast to at least have some bitcoins instead.

I'm not sure whether Ethereum is considered to be an altcoin. If it is, then I do not think that your statements apply to all altcoins. The list of members in the Enterprise Ethereum Alliance is impressive I must say (https://entethalliance.org/).

Firstly, since you were not sure, Ethereum is an altcoin, so I am glad you are sure now. Also, I did not in my statement mention 'ALL ALTCOINS' anywhere. Ethereum is an innovative altcoin but if you visit coinmarketcap.com today, you will understand how big the ocean is, filled with multiple of altcoins, for you to hardly point out what MOST of them are good for except for being pumped.

[prabakharras]

Converting for fork is strange, that is thinking that the forked coin will be valuable.
Then again, i am on for anything that makes bitcoin green.
All altcoins red, but Litecoin is suddenly cool again https://www.coingecko.com/en

[slate_main]

Many are selling their alts holdings for btc, for the fork, the other oddity is the bittrex multi market dumps we have just seen. So re-adjustment of price will occur after fork, now is the time to stock up on some alts 

[Camster]

Most altcoins are basically just good for being pumped and that is the only advantage they add to the community anyway. Just the ability to trade them with BTC for profit while capitalizing on their pumps. No one believes in them and the future they have, unless we just do not want to face fact and that is why it became so easy for everyone to dump them pretty fast to at least have some bitcoins instead.

This statement is sadly very true.  Most altcoins are pumps and dumps.  Not all of course, and those good ones out there, are really good ones.  But, most probably aren't.  I feel like you can hold BTC long term and make out, but holding the lesser known coins long term is probably more risky.  Just my opinion of course.

[MiBambino]

Most altcoins are basically just good for being pumped and that is the only advantage they add to the community anyway. Just the ability to trade them with BTC for profit while capitalizing on their pumps. No one believes in them and the future they have, unless we just do not want to face fact and that is why it became so easy for everyone to dump them pretty fast to at least have some bitcoins instead.

Sorry but I disagree.  BTC is king now and probably for a long time still but it will eventually be dethroned...likely by one of these altcoins.

You know why BTC is forking so many times?  Because it is obsolete and it is trying hard to evolve and catch up.  Tech wise, most coins are much better than it now...it is just the first.

And sorry I disagree too. I don't have anything against some altcoins and if you look at my statement very well, I did not say all altcoins, but most altcoins and if you are a trader, you will know this already. However, saying some of this altcoins will dethrone bitcoin, you might need to think very deeply and look at the marketcap, the advantage of being a first mover, and the huge support. If they want to dethrone, they should be my guest as time will definitely tell if they are capable or not, but right now, not a chance!

Most altcoins are basically just good for being pumped and that is the only advantage they add to the community anyway. Just the ability to trade them with BTC for profit while capitalizing on their pumps. No one believes in them and the future they have, unless we just do not want to face fact and that is why it became so easy for everyone to dump them pretty fast to at least have some bitcoins instead.

I'm not sure whether Ethereum is considered to be an altcoin. If it is, then I do not think that your statements apply to all altcoins. The list of members in the Enterprise Ethereum Alliance is impressive I must say (https://entethalliance.org/).

Firstly, since you were not sure, Ethereum is an altcoin, so I am glad you are sure now. Also, I did not in my statement mention 'ALL ALTCOINS' anywhere. Ethereum is an innovative altcoin but if you visit coinmarketcap.com today, you will understand how big the ocean is, filled with multiple of altcoins, for you to hardly point out what MOST of them are good for except for being pumped.

I agree with nl247, there are only a handful of alts that are actually valuable right now. Most altcoins are tradeable shares in businessplans that barely have an actual working product. Eth, Neo, Sonm, ... are all good, but I can tell you right now in 5 to 10 years we'll see a lot of coins disappear forever

[ChuckBuck]

With Bitcoin rising steadily, and most Altcoins coming crashing down. What does the community think about the future of Altcoin prices and the future of Altcoins as well?

I'll answer first. So I don't really see a need for most altcoins and I think people are going to start seeing through this as well, slowly but surely that is.

I await yalls responses.

Article - https://www.cryptocoinsnews.com/4875-bitcoin-price-surges-toward-all-time-high-as-altcoins-plummet/

In fact, the altcoin does not lose too much value. And it only happens temporarily, and a short time later, they will return when the value of the bitcoin stabilizes. The sudden increase in bitcoin caused the volume to drop, so the value of altcoin decreased. It is only temporary.

[bip76]

I suspect that alt-coins are plunging is people are trying to get hold of bitcoin before the upcoming fork, I believe that is also the reason for the current price spike in BTC

[burdeN]

bitcoin rising - alts dumping
bitcoin dumping - alts dumping
bitcoin steady - alts mooning
But I don't agree that all alts are useless. Many of them are just pretty specific

[2double0]

It is both a matter of fact as well as a question of fear, but there are causes as to why this happens:
1. Whales can't let everything go green because when something (Bitcoins) is gaining, something (alts) has to lose.
2. They take out their money off alts and sell BTC for fiat because they might have their stops there and that's why we also see fluctuations during pumps.
3. Altcoins are not losing but they also gain with time once BTC stabilizes because these same alts become worth many times once they start gaining in BTC and BTC gets steady at a price in fiat. This is a good chance but TBH, we should wait for even more dumps because fork is in the way and some more blood bath might be on the road.

[jaitor]

Gotta wait for bitcoin to move sideways again before going into any alt coins atm.
Then the alt coins will rebound stronger than ever.
At the moment we are on wave 5 of the bitcoin rise, and until we are in the clear of that, we wont see alts returning to their prices till back to 5k

[aaroc90]

I converted my btc into alts a few days ago, should have waited a lot longer. I have a feeling that the btc price will continue to rise until the fork. I refuse to buy it though, waiting for the post fork dump 

[jmigdlc99]

Just remember this, Bitcoin increasing is great for altcoins. A bunch of money pours into BTC, then once the price settles, people reallocate that money to altcoins. Rarely do people cash out of BTC and then pull money out of crypto forever. It seems that once money is in crypto, it stays there or at least if it leaves, it's temporary.

TLDR: Money will pour back into altcoins after this BTC pump.

[coleman268]

Perfect time to buy alts right now when they're at the lowest 

[alani123]

This time bitcoin is the big star. No altcoin can match its success in rising in price while always being the champion. Bitcoin came out as a winner from the ICO bubble that's currently on its final days.

[ChiNgadOr]

This time bitcoin is the big star. No altcoin can match its success in rising in price while always being the champion. Bitcoin came out as a winner from the ICO bubble that's currently on its final days.

last days? bubble?¿? i will see this post 7 years later.. in 2025 and laugh a lot..

[Matthias K.]

Altcoins go down more than would have thought. Some say that they will get back on track as soon as Bitcoin stabilize, but I start to lose hope

[germa66]

actually it is an old formula where bitcoin rises then altcoins will plunge, this is the right time for traders to stock some promising altcoins.

[MiBambino]

actually it is an old formula where bitcoin rises then altcoins will plunge, this is the right time for traders to stock some promising altcoins.

true, theres stupidity in numbers, which is why so many of them still try to catch the bitcointrain. Not saying bitcoin won't reach 10K some day, but it'll crash to 4K after reaching 6K, causing all that money to flow into fiat and the alts