Bitcoin Forum
December 08, 2022, 08:42:02 PM *
News: Latest Bitcoin Core release: 23.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 [2]  All
  Print  
Author Topic: Bitcoins grows, alts go down, bitcoin goes down, alts go down even more - why?  (Read 718 times)
covfefe_
Full Member
***
Offline Offline

Activity: 840
Merit: 105


View Profile
October 26, 2017, 08:48:56 AM
 #21

LOL. I too thought the price of bitcoins would go down after all this bitcoingold crazy, which came to be true.
But I also thought that price of alts would boom after that event but yeah to my amazement alts too are decreasing.

1670532122
Hero Member
*
Offline Offline

Posts: 1670532122

View Profile Personal Message (Offline)

Ignore
1670532122
Reply with quote  #2

1670532122
Report to moderator
1670532122
Hero Member
*
Offline Offline

Posts: 1670532122

View Profile Personal Message (Offline)

Ignore
1670532122
Reply with quote  #2

1670532122
Report to moderator
The Bitcoin software, network, and concept is called "Bitcoin" with a capitalized "B". Bitcoin currency units are called "bitcoins" with a lowercase "b" -- this is often abbreviated BTC.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1670532122
Hero Member
*
Offline Offline

Posts: 1670532122

View Profile Personal Message (Offline)

Ignore
1670532122
Reply with quote  #2

1670532122
Report to moderator
Vaflia
Full Member
***
Offline Offline

Activity: 280
Merit: 101



View Profile
October 26, 2017, 09:42:39 AM
 #22

I think that is very bad. I don't understand why this is happening, but I house for their investment and sell altcoins trying to minimize the losses.

hua_hui
Legendary
*
Offline Offline

Activity: 1386
Merit: 1016



View Profile
October 26, 2017, 10:15:02 AM
 #23

When bitcoin grows, it is common that people will want to trade alt back to bitcoin to get the growth. You will end up getting more alt coin when you trade back later. However, when bitcoin goes down, the money may not move back to the same alt. There are always new ico and new coins/tokens added to the market so it dilutes the market, Giving the value of each alt coins may not return back to its ATH.
Analogplutonium
Full Member
***
Offline Offline

Activity: 126
Merit: 100


View Profile
October 26, 2017, 11:01:20 AM
 #24

The problem is that almost all traders see altcoins not as an investment into a new technology/idea but they see it as a way to produce more bitcoins.

They compare the altcoin price only to the bitcoin price, the $ price is irrelevant for them. Most of them got large quantities of BTC when it was still cheap.

So BTC goes up --> they have to sell all of their altcoins in order not to make a loss on their BTC number. Because for them if BTC goes up and alts stay the same/go down they make a loss in BTC.

BTC goes down --> they know that altcoins go down even more when BTC goes down (I do not understand exactly why it is like this). So they sell their altcoins for BTC and wait until BTC stabilizes and altcoins are at the lowest point, then buy altcoin and like this get more Altcoin than they previously had because of the altcoin discount.

BTC is stable --> they still seek to increase the number of their BTC and try to chose altcoins that have a bigger growth than BTC.

All those stupid forks just increase this problem, but as long as people profit from it, there will be many more forks since it's basically free money. It's one of the many ways to scam people, just like those massive amount of airdrop coins or some greedy ICOs (not alls ICOs).

This behaviour is also the reason why the altcoin prices will always depend on the BTC price (among other things, like for example that you can buy a lot of alts only with BTC).It will always stay like this because this is how you make the most out of your Bitcoin/Money. People also seem to follow traders blindly, contributing to this problem. I wonder what it takes to make altcoins price development more independent from BTC/traders. Maybe being able to buy Altoins with fiat would help. Or if people would wake up and realise that Bitcoin is already an old technology and there are way better options within the world of blockchain.
wantjokull
Sr. Member
****
Offline Offline

Activity: 700
Merit: 275



View Profile WWW
October 26, 2017, 11:51:28 AM
 #25


I’m not sure about your statement which says bitcoin goes down then altcoin goes down even more. I have never seen that happening in first place. It has always been the reverse case for altcoins and bitcoin. They never match up because the most popular trading pair is bitcoin/altcoin only and that’s why whenever people go for selling the alts then they will do it with bitcoin leading to increased rates of bitcoin and decreased for the altcoins. Thus vice verse case is also true for them.

     ▄▄██▄▄        ▄▄██▄▄
 ▄▄██████████▄▄▄▄██████████▄▄
█████████████████████████████
█████████████████████████████
█████████████████████████████
█████████████████████████████
█████████████████████████████
█████████████████████████████
█████████████████████████████
█████████████████████████████
█████████████████████████████
▀▀██████████▀▀ ▀▀██████████▀▀
    ▀▀██▀▀         ▀▀██▀▀



███▄▄██████▄▄        ▄▄██████▄▄     ▄█▄       ▄█▄     ▄▄██████▄▄
██████▀▀▀▀████▄    ▄████▀▀▀▀████▄  ▀████▄   ▄████▀  ▄████▀▀▀▀████▄
████        ███▄  ▄███        ███▄   ▀████▄████▀   ▄███        ███▄
███          ███  ████████████████     ▀█████▀     ███          ███
███          ███  ████▀▀▀▀▀▀▀▀▀▀▀▀    ▄███████▄    ███▄        ▄███
███          ███   ███▄▄            ▄████▀ ▀████▄   ███▄▄    ▄▄███
███          ███    ▀██████████    ▀███▀     ▀███▀   ▀██████████▀
▀▀▀          ▀▀▀       ▀▀▀▀▀▀▀▀      ▀         ▀        ▀▀▀▀▀▀
▄▄▀▀▀▀▀▄       
▄▄▄▄▄▄▄▄▀▀      ▄▄█▄▄   
▄▀▀  ▄▄▀▀      ▄▄▀▀   █ ▀▀▄
▄▀▄▄▀▀      ▄▄▀▀        █  ▀▄
█▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄█
▄▄▄▄▄▄▄▄▄  █                           █
█                    ▄▄▄▄▄▄▄█
  ▄▄▄▄▄▄▄  █                  ▄▀       █
█                  █   ██   █
    ▄▄▄▄▄  █                  ▀▄       █
█                    ▀▀▀▀▀▀▀█
█                           █
▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀
THE WORLD'S
FIRST INSTANT
CRYPTO LOANS
GET INSTANT CASH IN
40+FIAT
CURRENCIES

USING
CRYPTO  AS
COLLATERAL


Bay_Harbour_Butcher
Full Member
***
Offline Offline

Activity: 686
Merit: 101



View Profile
October 26, 2017, 12:41:20 PM
 #26

Hi guys. I'm quite new in crypto world (2 months) and trying to understand what's actually going on on the market. The thing is when Bitcoins grows, alts go down (or just don't grow), bitcoin goes down, alts go down even more - why? I don't exactly understand it and feel confused when to trade or invest. I mostly talk about ETH, LTC, Monero and other from top.

Thank you.

I feel the way you feel, I have joined in this forum about 4 months and follow various bounty campaign, finally I also got quite a lot of altcoin type and until now there is no altcoin that rose again, even decreased

Analogplutonium
Full Member
***
Offline Offline

Activity: 126
Merit: 100


View Profile
October 26, 2017, 12:47:10 PM
 #27


I’m not sure about your statement which says bitcoin goes down then altcoin goes down even more. I have never seen that happening in first place. It has always been the reverse case for altcoins and bitcoin. They never match up because the most popular trading pair is bitcoin/altcoin only and that’s why whenever people go for selling the alts then they will do it with bitcoin leading to increased rates of bitcoin and decreased for the altcoins. Thus vice verse case is also true for them.

I have seen it happening many times since the rise of Bitcoin from the first of August this year. Everytime there was a BTC price correction, alts were bleeding even more than BTC. They rise only if BTC stays stable or goes up/down only slightly. If it's more than 3% change of BTC, alts are done for usually. Of course it's hard to generalize this, you would find exceptions to this as well. But I have been following a lot of alts and I would say at least that it happens like this often.

And to add one more layer of complexity: Ethereum-based ERC-20-tokens behave in the same way when ETH rises/falls, not only when it's the case with BTC.
legenduim
Full Member
***
Offline Offline

Activity: 588
Merit: 101



View Profile
October 27, 2017, 01:07:08 PM
 #28

During last 2 days the situation has changed. I follow crytocurrency market news and the information says about the new “fall” of Bitcoin and fast growth of almost all Altcoins.

Bitcoin is 3% cheaper today than it was last week. This cryptocurrrency prices fall through the fork. BTG is coming and it seems it will show rapid growth, too.
michealpt
Newbie
*
Offline Offline

Activity: 32
Merit: 0


View Profile
October 27, 2017, 01:19:57 PM
 #29

The problem is that almost all traders see altcoins not as an investment into a new technology/idea but they see it as a way to produce more bitcoins.

They compare the altcoin price only to the bitcoin price, the $ price is irrelevant for them. Most of them got large quantities of BTC when it was still cheap.

So BTC goes up --> they have to sell all of their altcoins in order not to make a loss on their BTC number. Because for them if BTC goes up and alts stay the same/go down they make a loss in BTC.

BTC goes down --> they know that altcoins go down even more when BTC goes down (I do not understand exactly why it is like this). So they sell their altcoins for BTC and wait until BTC stabilizes and altcoins are at the lowest point, then buy altcoin and like this get more Altcoin than they previously had because of the altcoin discount.

BTC is stable --> they still seek to increase the number of their BTC and try to chose altcoins that have a bigger growth than BTC.

All those stupid forks just increase this problem, but as long as people profit from it, there will be many more forks since it's basically free money. It's one of the many ways to scam people, just like those massive amount of airdrop coins or some greedy ICOs (not alls ICOs).

This behaviour is also the reason why the altcoin prices will always depend on the BTC price (among other things, like for example that you can buy a lot of alts only with BTC).It will always stay like this because this is how you make the most out of your Bitcoin/Money. People also seem to follow traders blindly, contributing to this problem. I wonder what it takes to make altcoins price development more independent from BTC/traders. Maybe being able to buy Altoins with fiat would help. Or if people would wake up and realise that Bitcoin is already an old technology and there are way better options within the world of blockchain.

the life is a game . market is too Smiley
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!