Bitcoin going down - altcoins bleeding again o WHY??????????????

[Byakuya]

Does anyone know the reason why's bch pumping? I didn't see any real news about it, seems like whale shenanigans

I guess because segwit2x was cancelled and bitcoin has old software and usaless but bitcoin cash is more useful. It may explain it.

[Antikais]

altcoins needs a stabil bitcoin for rise.  altcoins wont go high until bitcoin complate its correction. it is neccessary. just dont panic i think

[5ensei]

Alts rallied yesterday but for unknown reasons they started dropping today along with bitcoin. This is going against the trend! I think this weekend altcoins will go back up, they usually do when Bitcoin is undergoing a correction.

[digaran]

Bitcoin cash volume is fake, do you know what happens if some body dumps 500K Bitcoin cash? the price will dump under $10 but if some body dumps 500K Bitcoin, price will only dump under $3000. most of the BCH holders are holding, if they decide to sell, market will crash.
After some investigations, I've come to realize that people are not causing these huge P&Ds. some country probably is paying to another country with Bitcoin, so to pay them, they'd have to buy Bitcoin(or BCH) and then pay, after they have paid them, the other country now wants to convert them to USD.
So when you see pumps like this, expect dumps afterwards(other country converting to USD).

[javadsalehi]

altcoins needs a stabil bitcoin for rise.  altcoins wont go high until bitcoin complate its correction. it is neccessary. just dont panic i think

Yes, whenever bitcoin rises or drops altcoins falls. Before the fork Bitcoin was rising but altcoins were falling. After cancellation of the  fork bitcoin started to fall and now altcoins are falling more.

[jemiro]

I don't get it either. Overall the marketcap is down 5% from the high of 208 billion a few days ago. BCH is only up 7 billion from 11/04, my last market snapshot. BTC is down 14 billion. Yet most of the bigger alts are down 10-20%. My tools are too basic to see where the $$$ is but it isn't in the top 100. Tether is only up 64 milion from 11/04. Strange days indeed.

[Savik]

Does anyone know the reason why's bch pumping? I didn't see any real news about it, seems like whale shenanigans

BCH is abut to update their mining algorithm to stabilize the block times to stay around 10mins regardless of what happens to hash rate. BCH has already implemented and stress tested their scaling solution (8MB blocks) and passed with flying colors. The only thing keeping BTC alive is the name recognition, but we can all list numerous companies/organizations that have vanished because they thought their name recognition would save them...

https://cryptovest.com/news/bitcoin-cash-closer-to-upgrade-difficulty-algorithm-decided/

https://www.yours.org/content/deadalnix-s-difficulty-algorithm-explained-ac50eb2b1f16/

[krazy89]

Who the fuck stupid enough to sell all of their biggest stack in 1 click ?

[Savik]

I don't get it either. Overall the marketcap is down 5% from the high of 208 billion a few days ago. BCH is only up 7 billion from 11/04, my last market snapshot. BTC is down 14 billion. Yet most of the bigger alts are down 10-20%. My tools are too basic to see where the $$$ is but it isn't in the top 100. Tether is only up 64 milion from 11/04. Strange days indeed.

Lots flowing back to fiat and into bank accounts.

[freaxx]

I don't get it either. Overall the marketcap is down 5% from the high of 208 billion a few days ago. BCH is only up 7 billion from 11/04, my last market snapshot. BTC is down 14 billion. Yet most of the bigger alts are down 10-20%. My tools are too basic to see where the $$$ is but it isn't in the top 100. Tether is only up 64 milion from 11/04. Strange days indeed.

It's november now, coins have done very well this year, rised alot. I think many people have cashed out their profits.

[jemiro]

I don't get it either. Overall the marketcap is down 5% from the high of 208 billion a few days ago. BCH is only up 7 billion from 11/04, my last market snapshot. BTC is down 14 billion. Yet most of the bigger alts are down 10-20%. My tools are too basic to see where the $$$ is but it isn't in the top 100. Tether is only up 64 milion from 11/04. Strange days indeed.

It's november now, coins have done very well this year, rised alot. I think many people have cashed out their profits.

I thought that too but the market cap doesn't agree. I know most of the influx after China contracted pussyitus went to BTC but the cap is still near an ATH at 200 billion, not far off from the 208 billion hit just a few days ago. I'm not saying something funny is going on, just that the market is acting insane. So many knee jerk, inexperienced or greedy investors make prediction, technical and even most fundamental analysis completely useless. Oh well. I'll still keep dropping about $500 a month across the top 100 until I get that early retirement nailed down. Better than wasting it on easy women and other vices.

[FiiNALiZE]

FUCK ME!

because bitcoin cash. I really hate bitcoin cash with a passion .

Don't worry so much about the price, Bitcoin can still be purchased and there will be more people talking about Bitcoin when large things happen.

[1020kingz]

Is it true? I thought bitcoins keeps increasing,why they all decreasing even altcoins and eth are affected is there any possible reason why this all is happening? Is it because of the fork or what?

[Mihaluch]

many altcoins still make correction after steep growth since spring. if the coin is technologically advanced and has a good team, everything will be fine with it. give it time to get excited and gain new strength for the flight to the moon!

[Phillip_Olamide]

I'm equally confused too... It's funny how the fork upon been canceled, okay it's normal for people to withdraw from Btc quite alright but this isn't taking effect on alt coins as envisaged. Everything is still dragging. Bch still looks all hazy to me though, but in all I'd choose to be patient and see how things unfolds.

[Poink]

This battle will now rely on hash power or miner support.

Scalability issue....
 - BTC is at 1MB block size
 - Cancelled Segwit2x would have increased it to 2MB
 - BCH has 8MB block size.

The BCH supporters and Segwit2x supporters used to be separate but recently merged forces...due to the cancellation of Segwit2X.  Both of these camps believed 1MB is not sufficient (reason BTC transactions are too slow) to survive the current competition.

If miners move support to BCH...BTC will die (and vice-versa).

Only time can tell which will remain.  Personally, I think BTC with 1MB is doomed.  Like a dinosaur...either it adapt and evolve or be extinct.

[TravelMug]

This battle will now rely on hash power or miner support.

Scalability issue....
 - BTC is at 1MB block size
 - Cancelled Segwit2x would have increased it to 2MB
 - BCH has 8MB block size.

The BCH supporters and Segwit2x supporters used to be separate but recently merged forces...due to the cancellation of Segwit2X.  Both of these camps believed 1MB is not sufficient (reason BTC transactions are too slow) to survive the current competition.

If miners move support to BCH...BTC will die (and vice-versa).

Only time can tell which will remain.  Personally, I think BTC with 1MB is doomed.  Like a dinosaur...either it adapt and evolve or be extinct.

But the timing is uncanny. Do you think this is a coordinate attack against btc? The timing of cancellation and then the immediate rise of bch plus the fud around leads me to the think that these group has really merges and attacking btc at the moment and claiming they are the true btc as put up by the one and only Satoshi Nakamoto and the result is that btc is now bleeding and I'm feeling that there are ensuing panic among investors specially who have bought bitcoin at a premium price.

[Poink]

This battle will now rely on hash power or miner support.

Scalability issue....
 - BTC is at 1MB block size
 - Cancelled Segwit2x would have increased it to 2MB
 - BCH has 8MB block size.

The BCH supporters and Segwit2x supporters used to be separate but recently merged forces...due to the cancellation of Segwit2X.  Both of these camps believed 1MB is not sufficient (reason BTC transactions are too slow) to survive the current competition.

If miners move support to BCH...BTC will die (and vice-versa).

Only time can tell which will remain.  Personally, I think BTC with 1MB is doomed.  Like a dinosaur...either it adapt and evolve or be extinct.

But the timing is uncanny. Do you think this is a coordinate attack against btc? The timing of cancellation and then the immediate rise of bch plus the fud around leads me to the think that these group has really merges and attacking btc at the moment and claiming they are the true btc as put up by the one and only Satoshi Nakamoto and the result is that btc is now bleeding and I'm feeling that there are ensuing panic among investors specially who have bought bitcoin at a premium price.

Of course it is.

[Heye]

I don't think there is any reason to be worried, btc went up alone(60% dominance) and now it needs to go back down(about 50% dominance) so that everything can go up again. alts are red because when they get pump a lot of people trade them for btc, but since it was going down during last alt pump they converted to fiat. Now they are waiting for btc to be stable to buy in, a lot of people think it needs to drop to 6k. Anyway I think this is all normal and there's no reason to panic, bch is not taking over btc.

[Pierre 2]

Probably something about Bitcoin Cash, eh... Bitcoin will rise again. I dont even care at this point.

I am sure it is all about bitcoin cash. When bitcoin was getting higher all the money from altcoins flow into bitcoin.
Now same happens with bitcoin cash. Market has become greedy. It is very dangerous time. Especially altcoins will keep bleeding.