Bitcoin forks destroying atlcoins!

[ichanjay]

This is the time when I wish I had a lot of fiat money right now so I can buy more altcoins. I'm new to crypto and first time experiencing the effect of forks. For those experts, Is it possible that some altcoins will not be able to recover after the fork?

[Zogrd]

yes, Alts are bleeding hard at the moment. It will be interesting to see what happens if BTC corrects.

[coindose]

If you look at it in a short context, yes, but  if you look at it on the bigger picture, Alts are only profiting from Bitcoin going mainstream and reaching ATH constantly.

Bitcoin has the power to drive up the whole marketcap with it with time.

[kubricktrader]

The question is BTC destroying alts are alts pumping btc.

I think btc rise is more about the flood of money not just into btc but into whole crypto space from ICOs etc. BTC is basically doing what ETH has been doing pumping off the back of the flood of investment in alts that then pumps btc with these forks.

Its not like btc has actually started to be used more in the mainstream. If anything its started to become even less usable with ETH more looking like thr winner in real world usage.

[Ucy]

Well, what can Bitcoin do.. Bitcoin performance doesn't even depend Altcoin.  Its creators/developers know exactly what they want & what Crypto supposed to be.

 Alt like Ethereum needs to work on publicity,  be organized,  build great community, maybe collaborate with Silicon Valley  instead of govts & dictators, invest in hardware like satellite too?, never compromise on core values of Crypto, grow consistently and  attract great investors. Ethereum too big to remain at its shameful $300 level.

[exstasie]

yes, Alts are bleeding hard at the moment. It will be interesting to see what happens if BTC corrects.

Indeed, and I'm not sure that the Bitcoin forks are to blame. Altcoins had their day in the sun during the first half of the year, and even after all the bleeding after June, the overall market cap has grown by orders of magnitude since last year.

Once BTC corrects, there should be a relief rally in alts. But I wouldn't plan on the bottom being in yet -- I'll be selling the bounce. It's possible that the alt markets have a lot of deflating to do. It's safest to wait for some signs of bottoming on the long term (weekly/monthly) charts before starting to re-enter the markets.

[Searing]

I address this point briefly on my thread on bitcointalk on my bet on how to hoard LTC till 5/1/18 as my mining goal.

https://bitcointalk.org/index.php?topic=2347546.msg23912819#msg23912819

this is a real possiblity that BTC forks of many flavors could be the new ICO and or ALT coin creation method....

Anyway, we will be the first to know I guess...(groan)

[boyptc]

This is the time when I wish I had a lot of fiat money right now so I can buy more altcoins. I'm new to crypto and first time experiencing the effect of forks. For those experts, Is it possible that some altcoins will not be able to recover after the fork?

I don't think they will not recover after the hard forks. Traders are intelligent, after taking some nice profit out of bitcoin they knew it that correction will come. And before that happens they are jumping into some bleeding alts to take the advantage of it as that will pump later on.

[hase0278]

This is the time when I wish I had a lot of fiat money right now so I can buy more altcoins. I'm new to crypto and first time experiencing the effect of forks. For those experts, Is it possible that some altcoins will not be able to recover after the fork?

Some might not recover from this but some will surely recover their former status. Therefore, they will somehow recover after all this lunacy of hardfork train is over. You just need to wait later on people will come back to alts and the one who will bleed is btc by that time probably. When the hardforks are over for sure some alts might go to the moon, some would have new all time high peaks like how btc did when it recovered from the 2013 mt. Gox dump.

[i-synthestech]

BTC force is so great that it influences all the altcoins
but I am almost sure that alts will recover after BTC fork

[stealth.money]

Welcome to crypto, when it pump then it's going to pump hard but when it get dump then it's also going to dump hard.

[CodyAlfaridzi]

This is the time when I wish I had a lot of fiat money right now so I can buy more altcoins. I'm new to crypto and first time experiencing the effect of forks. For those experts, Is it possible that some altcoins will not be able to recover after the fork?

The possibility that some coins not recovering will always exist. But major altcoins like ETH and LTC will likely recover though. The recent altcoins crash is fueled by people trading alts to BTC to get free forked coin. After the fork is done, that money will surely flow back to altcoins. If you want a safe bet, put your money on big altcoins (ETH, LTC, XRP)

Welcome to crypto, when it pump then it's going to pump hard but when it get dump then it's also going to dump hard.

Doesn't apply to Bitcoin, no?

[Ayaancool]

In current scenario i dont think i can able to get investment back interms of USD or other fiat Currency but the amount of bitcoin invested already less than 50% price lower it will hit even harder next 15 days till hardfork .Now am not  dare to touch any altcoins . Even i cant able to sell any of my coins some become 100X loss.

[juicejoyce]

This is the time when I wish I had a lot of fiat money right now so I can buy more altcoins. I'm new to crypto and first time experiencing the effect of forks. For those experts, Is it possible that some altcoins will not be able to recover after the fork?

I think the answer is positive, according to my experience from December last year, the altcoin will be recover soon, so it is a good time to buy some cheap and hot altcoins.

[torukmakto]

Crypto economy need to bitcoin forks  because bitcoin forks provide sustainability. Without forks bitcoins economy is useless and meanless. It can damage to altcoins for some times but if you look big picture they help altcoins and ICOs

[ThatsABity]

I think alts are near bottom before the 2X work. Maybe a bit more drop the coming few days.

Most people who want to switch to BTC before fork already did. I see a lot of sideway movement coming weeks, until fork, and then alts will boom again.
Same as in July.

[Nebell]

Yeah fork is like cheating, giving the rich even more money. Unforunately I don't have as much understanding in Bitcoin as many here, but I'm hoping this forking is not something you can just do. Because it seems like everyone and their mother can initiate a Bitcoin fork.

[siddartha1492]

I would focus on your second part of the question. I think if an alt has good potential, team and constant updates and developments, then it does not matter how many Bitcoin forks happen, that alt will eventually recover. And as for Bitcoin forks, yes they are bad for a healthy growth of alts, but then most alts are anyways useless. So why not benefit from the Bitcoin forks and then invest in good alts!!

[CryptoChill]

So do you think when ppl take away some money from BTC, maybe when it reached 10k, that they will invest the money again in altcoins like dash/eth/LTC etc?
What would be a realistic scenario to push the altcoins instead of BTC?

[deenny]

when is the actual date of the btc fork in this november?