How can alts go up 20 procent and btc stay the same

[Justaguy2]

I wonder, give me a logical explanation because it doesn’t make sense to me.

Total crypto cap went from around 202 to 209.000.000.000


Edit: I think my brain just rebooted and told me that the volume in alts is still pretty low?

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[NeuroticFish]

I wonder, give me a logical explanation because it doesn’t make sense to me.

Total crypto cap went from around 202 to 209.000.000.000

People sold everything, including alts, and bought Bitcoin during the rise/pump.
Now the time gets closer to 2X, many fear that a dump/correction may happen, so they went back to alts. Since they didn't sell BTC for fiat, the price is not affected.
Of course, I may be horribly wrong, it's a bit too early for me yet.

Edit: (@NorrisK) I've noticed later that indeed 2X got cancelled (wonderful news!!). However, while I found late, other did the same. I think that people indeed started buying alts, which did not make Bitcoin price fall (vs fiat), but make alts price rise. Now, since 2X was cancelled, maybe the move into altcoins was too early.

[NorrisK]

Probably a correction after being oversold in the bitcoin rise hype. Remember that alt prices dropped more than just the keeping the usd value equal.

Alt values basically took 2 price hits instead of 1 and this has now been corrected.

I wonder, give me a logical explanation because it doesn’t make sense to me.

Total crypto cap went from around 202 to 209.000.000.000

People sold everything, including alts, and bought Bitcoin during the rise/pump.
Now the time gets closer to 2X, many fear that a dump/correction may happen, so they went back to alts. Since they didn't sell BTC for fiat, the price is not affected.
Of course, I may be horribly wrong, it's a bit too early for me yet.

You do realize 2X got cancelled?

[benthach]

I wonder, give me a logical explanation because it doesn’t make sense to me.

Total crypto cap went from around 202 to 209.000.000.000


Edit: I think my brain just rebooted and told me that the volume in alts is still pretty low?

people sold their alts for bitcoin in hope when bitcoin2x forked they will have 1 bitcoin and 1 bitcoin2x
seen bitcoin2x fork is cancelled everyone rush back to alts, exchanging their bitcoin to alts.

[rudolfaxl]

BTC dominance rate is still very high. It's around 60% now but its common value is 40-50%. So when people will pour btc to alts this rate should decrease and alts will rise.

[Justaguy2]

I wonder, give me a logical explanation because it doesn’t make sense to me.

Total crypto cap went from around 202 to 209.000.000.000


Edit: I think my brain just rebooted and told me that the volume in alts is still pretty low?

people sold their alts for bitcoin in hope when bitcoin2x forked they will have 1 bitcoin and 1 bitcoin2x
seen bitcoin2x fork is cancelled everyone rush back to alts, exchanging their bitcoin to alts.

I don’t live under a rock, but one would think that btc would receive a big hit now.

[Opnsrc]

Even those people, who have been working on crypto market, will not give you the exact answer on this question.
As I suppose, the reason may be the changes in latest news about BTC and fork. First all were preparing for the event, now when it is postponed, BTC owners hesitate what to do with their crypto.
They understand that they will not get new altcoins for free and start investing into ETH, DASH, Litecoin and other alts. IMHO.

[Julunguul]

altcoin have good news / bad news
or maybe whales are online and they of course try to pump, buy at rumor and sell at news

so in fact they all have the ability to pump or dump even if not directly connected