Bitcoin forks destroying atlcoins!

[CONTRACT]

all my coins have depreciated, it's painful to look at it. I hope the situation changes after the fork

[suzukiy]

I think the high bitcoin price will lower the price of altcoin but it will not make altcoin damaged by biting the bitcoin not long, but if the long bitcoin rise then it will destroy the bitcoin. because now many ICOs have failed due to the rise in bitcoin prices.

[jlanzago]

The good ones will recover. But there are tons of shitty altcoins out there which may not. Because of that it is important always to do your due diligence and know in which ones you are investing and most importantly, why?

[Beicin]

Altcoins (lets call them cryptocurrencies, altcoins is kinda demeaning) will recover once the 2x fork is past. Just wait and see. We might not see all time highs right as it happens, but other cryptos will definitely start gaining ground against bitcoin, thats what most people are thinking.

[cryptominingltd]

Definitely possible: after all there's no reason why it's shouldn't be


As suggested it could even be a good way to weed out some bad currencies and promote the good ons

[Gaius Cryptus Tradius]

I think once BTC corrects alts will rise like 30-40%. It will be interesting to see if this is sustainable for a period or if they drop immediately again.
I think though that a bottom has been built around the 16th of November

[ismart1]

The good ones will recover. But there are tons of shitty altcoins out there which may not. Because of that it is important always to do your due diligence and know in which ones you are investing and most importantly, why?

Definitely, the due diligence is something that all investor should do. The corrections will come, the main reason for people are going crazy with the bitcoin is because they know what happens when a hard fork occurs in its chain before the first one in August it just panic and the price flatten to $1800s and it soars before the BGold and even more now. There are other factors like been used for the regular market as 'future' asset from January on but will correct as well, and if the greed of the miners doesn't calm down bitcoin will never become mainstream, after all, who will pay $20 of transfer fee for a buy of $50 bucks? Altcoins, good projects, at least will see their bounce back after these events for sure.

[joshmontford]

There are way to many bitcoin forks. This year there were like 4 already? The altcoins, especially the good ones are taking the hit... I don't like it.

[muncuss]

all my coins have depreciated, it's painful to look at it. I hope the situation changes after the fork

Haha yes it's very painful, when i bought alt in red (it would be green again) but suddenly continue to down and btc started rising like crazy
at least i bought a good coin

[Sephire]

Good alt projects will rise and rise to new highs next year. This bitcoin fork is almost here and hopefully
there is no other fork for a long time so alts will do fine.

[Nomad88]

I believe it is destroying Bitcoin itself in long term as well. However, we are about to see the last hardfork for now. After that, it should be the rise of altcoins again. It has been very difficult a few months for altcoin investors as well as altcoin developers. I have a feeling some of these developers did not even share some good news as it would probably not have good enough impact in the market. By 2019, we should see some good days for altcoins.

[BeManga]

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?

it only possible if the price of bitcoin will keep rising it will be hard to recover in terms of price in bitcoin
but if you will look at the price in dollar it will only the same or small lose or sometime you still make some profit

[danherbias07]

You already answered the solution for it.
Abuse the buy button.
Then after all of this you will feel more profit than what they did with those forks.
They have sold their alts in exchane for bitcoin but what do they get? Maybe a shitcoin?
While you are so sure your supported coin will come back up.

[nskendrovic]

Bitcoin forks are the new scam in town so altcoins, the old scam, is going out the window. However, this is will even more short-lived than altcoins because people are already realizing that you can't actually copy Bitcoin just like that. People are used to instant gratification so they think they can just get a lot of power and money and make it reality, but it can't be so anymore with BTC.

[erickkyut]

I also thought of the same thing. Eversince those fork began, I noticed that altcoin prices started to decrease. I don't know why they keep on doing those forks. It is not healthy anymore for this community especially for those blue chip altcoins. It's dragging them down. They just want to get an extra money without doing anything.

[adChain]

Also, one who is unsure if the BTC fork has anything to do with alts bleeding. I personally think alt buyers have had unrealistic expectations created by colossal profit-taking over the past six months and are finally now waking up to the fact that this is unsustainable. The running meme in Ethtrader subreddit lately has been, "good news? -20%"

The unrealistic expectation of profit is far outweighing what is realistically possible regarding the actual technology itself.  A project in the current climate would need to release the iphone9 to get a response from their base proportional to the enthusiasm generated from buying into an ICO and selling for 5-10x profit in 2 weeks time once it's listed on an exchange.

[tiggytomb]

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?

It is definitely a good time to buy up some alts, although the fork may have had a lot to do with the current price of alts you will see over time that this is like a season each year we will see a similar drop around the similar time with or without a fork.

[DesmondHayes]

We must just wait for the BTC fork cause then altcoins get its balance. BTC is the leader of coins and it is in rising right now but that will last until November. Some altcoins will fail but not all. Some will profit from altcoins then. Those who have the investment in altcoins must be patient.

[cryptopuma]

this is my analysis for the BTC and alt coins if the BTC goes up or down alts collapse if BTC goes sideways ALTS pumps.
regarding the fork yes it will destroy alts value temporarily but it will comeback sooner or later

[hello_good_sir]

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 know whether there are any correlations between bitcoin forking and altcoin price right now. It may just be since the price of bitcoin has gotten up so much in recent days that altcoins are naturally becoming less valuable.

Just my two cents, just because a bitcoin fork happens doesn't mean that alts will be 100% going down.

Once a correction hits bitcoin, alts will go back up like today.