Crypbull (OP)
Member
 Offline
Activity: 322
Merit: 16
|
 |
November 05, 2017, 10:06:22 AM |
|
I have some doubt about Crypto network , BTC is the major one i Know but when BTC is going UP Why ALTCOIN is suddenly going down what is the link between BTC and altcoin ? I'm new to Crypto network, These days I focus on BTC veriation and Altcoin veriation then I get this problem.
Hope seniors help me to clarify this matter
|
|
|
|
|
|
|
|
|
|
|
|
The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
mk4
Legendary
Offline
Activity: 2758
Merit: 3833
Paldo.io 🤖
|
|
November 05, 2017, 10:31:25 AM |
|
It's not always the case that when bitcoin goes up, altcoins go down. In the last cryptocurrency price rally, bitcoin and altcoins went up and down together. I personally think that the reason that altcoins are dropping right now whereas bitcoin is skyrocketing is that people are most likely trading their altcoins for some bitcoins, for them to get to have Bitcoin-Segwit2x coins.
|
|
|
|
Str1x
Member
Offline
Activity: 140
Merit: 33
Buy me a beer 13mVkBy6HVwKuNovaWzYdF27FB6pLqoJtr
|
|
November 05, 2017, 10:52:01 AM |
|
I have some doubt about Crypto network , BTC is the major one i Know but when BTC is going UP Why ALTCOIN is suddenly going down what is the link between BTC and altcoin ? I'm new to Crypto network, These days I focus on BTC veriation and Altcoin veriation then I get this problem.
Hope seniors help me to clarify this matter
1. you may know that a lot of altcoins have BTC as a trading pair, therefore the price of an altcoin correlates to the price of bitcoin. 2. In a normal market (with no fork) the price of BTC can go up and the price of an altcoin can go up (nothing strange) 3. The thing now (and you can verify it) is that the BTC dominance is up a lot compared to couple of weeks ago, which means that money invested in altcoins (and in some extent new money) is removed from altcoins and put into bitcoin due to the fact that people want free B2X. This leads to a dump in price of altcoins and bitcoins that gets a new ATH every day. |
|
|
|
BitcoinIsAlgebraic
Member
Offline
Activity: 89
Merit: 10
|
|
November 05, 2017, 10:55:16 AM |
|
Basically people are converting their altcoins into bitcoin. so what is happening is Bitcoin is having a pump because of the amount of people who are investing in it and the altcoins are having a dump because of the people selling their alt coins for bitcoin.
|
|
|
|
|
mela65
Sr. Member
Offline
Activity: 1148
Merit: 282
Best Crypto / Online Casino Writing Services
|
|
November 05, 2017, 10:58:42 AM |
|
Also there is another issue, BTC is main cryptocurreny so if BTC rise up, people thinks to buy BTC and sold their altcoins so this situation cause that, altcoins down and btc up
|
|
|
|
|
IIV
Member
Offline
Activity: 130
Merit: 16
|
|
November 05, 2017, 11:10:48 AM |
|
1. Altcoins are generally priced against bitcoins. Even though the price of altcoin is stable or increasing against USD, it may look to be decreasing against BTC when BTC is having a quicker rise.
2. When BTC is on the rise, like at current time, people tend to dump their altcoin holding a buy and hold bitcoins. Increasing selling pressure means decrease in price.
|
|
|
|
|
monkeydominicorobin
Full Member
Offline
Activity: 294
Merit: 104
✪ NEXCHANGE | BTC, LTC, ETH & DOGE ✪
|
|
November 05, 2017, 04:18:10 PM |
|
I have some doubt about Crypto network , BTC is the major one i Know but when BTC is going UP Why ALTCOIN is suddenly going down what is the link between BTC and altcoin ? I'm new to Crypto network, These days I focus on BTC veriation and Altcoin veriation then I get this problem.
Hope seniors help me to clarify this matter
When bitcoin is up. It means that the billionaires are playing the market. And the rest are monitoring the event and waiting to buy bitcoins after dumping alt coins. So basically billionaires are pulling the strings and they are earning from the exchange market. While the rest of the crowd are playing in their stupid game. The intelligent ones are hoarding Bitcoins. And doesn't engage in any of the stupid stuff. |
|
|
|
EtherATM
Member
Offline
Activity: 224
Merit: 11
|
|
November 05, 2017, 05:00:32 PM |
|
This can be explained: when Bitcoin up people who is holding altcoins will sell altcoins to buy bitcoin. For big big volumes altcoins was sold so the price of altcoins will be down
|
|
|
|
|
Rifler
Newbie
Offline
Activity: 20
Merit: 0
|
|
November 05, 2017, 06:12:46 PM |
|
I think now we can see this phenomenon because people who invested in altcoin are also watchin BTC. So when BTC goes up they think that investing in it will give them more profit.
|
|
|
|
|
deadthings
Sr. Member
Offline
Activity: 1106
Merit: 255
Betking.io - Best Bitcoin Casino
|
|
November 05, 2017, 08:06:45 PM |
|
It's not always like that but probably now people are just trading eveything into btc cause of its price and suddenly growth.
|
|
|
|
|
aardvark15
|
|
November 05, 2017, 09:25:10 PM |
|
I have some doubt about Crypto network , BTC is the major one i Know but when BTC is going UP Why ALTCOIN is suddenly going down what is the link between BTC and altcoin ? I'm new to Crypto network, These days I focus on BTC veriation and Altcoin veriation then I get this problem.
Hope seniors help me to clarify this matter
Most likely people are are transferring their funds from altcoins to Bitcoin when this happens. Although altcoins don't always drop when Bitcoin rises. Sometimes many altcoins or some altcoins rise at the same time. Sometimes everything drops at the same time including Bitcoin if there is some negative news about cryptocurrencies in general like a government regulation or a problem with an exchange. Basically, the direction of the markets can vary based on internal or external factors. This situation though is more likely the same investors just shifting funds to make money. |
|
|
|
|
gemelnik
Newbie
Offline
Activity: 8
Merit: 0
|
|
November 05, 2017, 09:45:23 PM |
|
Sometimes there is such correlation as people feel like BTC is the only sensible cryptocurrency which is going to grow....they fear of missing out ....and so they buy  Which is not really smart to be honest. |
|
|
|
|
buiting
Member
Offline
Activity: 102
Merit: 10
|
|
November 05, 2017, 10:01:40 PM |
|
I have some doubt about Crypto network , BTC is the major one i Know but when BTC is going UP Why ALTCOIN is suddenly going down what is the link between BTC and altcoin ? I'm new to Crypto network, These days I focus on BTC veriation and Altcoin veriation then I get this problem.
Hope seniors help me to clarify this matter
Because increase price of bitcoin mean it have high demand and high demand of btc effect negative in other altcoins |
|
|
|
|
Mike Mayor
|
|
November 05, 2017, 11:57:23 PM |
|
It's not always the case that when bitcoin goes up, altcoins go down. In the last cryptocurrency price rally, bitcoin and altcoins went up and down together. I personally think that the reason that altcoins are dropping right now whereas bitcoin is skyrocketing is that people are most likely trading their altcoins for some bitcoins, for them to get to have Bitcoin-Segwit2x coins.
I was also about to say that's bit skeays the case. Lasst time the alts went up with BTC. It really just depends on the coins you telling about but it does seem altcoins raise and lower together. Quite odd and interesting. It's all ups and downs though so you can't really tell. Maybe a certain coin is crashing today and you think it will die or s coin has died then it comes back and has some explosions in price. It happens. |
|
|
|
|
alisafidel58
|
|
November 06, 2017, 05:09:29 AM |
|
Its all because of the demand in the market when the price of bitcoin is up its because many users have been acquiring bitcoin and leaving the alts in the market.
That is why most alt coin doesnt survive in the market because they dont have enough user to make an ecosystem.
|
|
|
|
|
|
AlienWithBTC
|
|
November 06, 2017, 05:21:17 AM |
|
people want to get free segwit 2x coins. So they sell all their altcoins to buy more bitcoins. This might be the perfect time to do the opposite, invest in icos or altcoins does not look like a bad idea now. I have some doubt about Crypto network , BTC is the major one i Know but when BTC is going UP Why ALTCOIN is suddenly going down what is the link between BTC and altcoin ? I'm new to Crypto network, These days I focus on BTC veriation and Altcoin veriation then I get this problem.
Hope seniors help me to clarify this matter
|
|
|
|
|
|
Teraboy
|
|
November 06, 2017, 05:34:30 AM |
|
I have some doubt about Crypto network , BTC is the major one i Know but when BTC is going UP Why ALTCOIN is suddenly going down what is the link between BTC and altcoin ? I'm new to Crypto network, These days I focus on BTC veriation and Altcoin veriation then I get this problem.
Hope seniors help me to clarify this matter
Yes, because a lot of the demand are moving to the bitcoin as you can see about a lot of people just dump their altcoin and put it into the bitcoin. They don't care about their lost. But some times not all of the altcoins get hammered. Because some interesting developoment can make the more investors are move towards these coins. You can see the latest chart on the coinmarketcap about the best gainers and losers. |
|
|
|
|
|
jakezyrus
|
|
November 06, 2017, 07:09:24 AM |
|
I have some doubt about Crypto network , BTC is the major one i Know but when BTC is going UP Why ALTCOIN is suddenly going down what is the link between BTC and altcoin ? I'm new to Crypto network, These days I focus on BTC veriation and Altcoin veriation then I get this problem.
Hope seniors help me to clarify this matter
Yes, because a lot of the demand are moving to the bitcoin as you can see about a lot of people just dump their altcoin and put it into the bitcoin. They don't care about their lost. But some times not all of the altcoins get hammered. Because some interesting developoment can make the more investors are move towards these coins. You can see the latest chart on the coinmarketcap about the best gainers and losers. i think thats not the reason why altcoins are dropping, because most people wont sell their altcoins for a cheap price and have a big loss just to put that money on bitcoins and avail those free forked coins. its normal for the altcoins and other coins to drop because thats how cryptocoins work and we need that volatility in the price to earn a profit thats why altcoins are ideal for trading though it is verry unpredictable and risky. |
|
|
|
|
Pierre 2
Legendary
Offline
Activity: 2408
Merit: 1358
|
|
November 06, 2017, 07:30:26 AM |
|
Of course this situation doesn't happen always. But it is realistic. When bitcoin starts raising, altcoin investors tend to think "I need to make quick buck" and jump into bitcoin vagon. It is all about bitcoin's strength. I think only ethereum has this strength too.
|
|
|
|
|
|
okissabam
|
|
November 06, 2017, 07:55:44 AM |
|
Do not confuse Altcoin's movement with Bitcoin, the reason of the movement is because of the rally and the upcoming fork again. While Bitcoin keeps on increasing its price, Altcoins tend to go down because some of the traders would panic especially the newbies and would do suicide mission on selling all the altcoins even if they are on loss leading it to dumping of the altcoins and buying bitcoin while it is still increasing then adding up bitcoins increase as well.
|
|
|
|
|
|
