Bitcoin is draining the altcoins

[Ailmand]

Price of altcoins is dropping, nearly 85% of altcoins suffer from the recent bitcoin boom because most people exchange their coins for bitcoins.
What is your thought on this matter?  

Well there is no suprise about this, the cryptocurrency market is all centered around the big one, every one is working to get bitcoin because in people's eyes bitcoin is the only successfull coin, poeple only started to use altcoins just when mining bitcoin started becoming more and more difficult, so mining other altcoin with a less difficulty than bitcoin with a much lower coast machines is much profitable than dierectly mining bitcoin, and of course they do all this just to be able to exchange it to bitcoin so they can get even more profit, because everyone knows that altcoins are very unpredictibale and could crash at any time because they have a much smaller user base than bitcoin.

 
I think this is only a temporary set up because the price of bitcoin is soaring right now. It holds true that bitcoin may affect altcoins negatively, but it won't die for the reason that altcoins is the main agent that gives flavor to the bitcoin market. There will come a time that alts would adjust with the movement and trend of bitcoin.

[Saifher]

The market happens in cycles. Right now bitcoin is getting all the attention but it shoudn't last long. We'll see altcoins having their time to shine in the near future, don't worry about it (i think Q1 2018 will be great for alts, with many products set to be released).

[naidray]

Don't panic is my strategy. ) I strongly believe in altcoins  in me portfolio. They will grow a lot. So I'm going to be patient

That is obviously the right strategy for anyone who is holding anyway. As long as you are not doing short term trading, I really do not see any reason to be bothered about the rise and fall of the market.

Short term traders already always know better when to always get out from a trade so they do not lose and that is why we see those huge volatility and reds in the market sometimes. In the long run, the present value will get past what it is, and then those holding now can leave the worries to those coming later on to buy in the future.

[Inkdatar]

The market happens in cycles. Right now bitcoin is getting all the attention but it shoudn't last long. We'll see altcoins having their time to shine in the near future, don't worry about it (i think Q1 2018 will be great for alts, with many products set to be released).

There is always the moment for altcoins, the moment of price to increase. Yes bitcoin is most getting attention by many users with the value that we could earn big. So we should wait for the market of altcoins to swing up.

[BlackPanda]

The market happens in cycles. Right now bitcoin is getting all the attention but it shoudn't last long. We'll see altcoins having their time to shine in the near future, don't worry about it (i think Q1 2018 will be great for alts, with many products set to be released).

There is always the moment for altcoins, the moment of price to increase. Yes bitcoin is most getting attention by many users with the value that we could earn big. So we should wait for the market of altcoins to swing up.

In the scheme should have been when an increase in the price of Bitcoin then Altcoin price has decreased, but this time we have seen it otherwise. Altcoin prices get positive sentiments when Bitcoin price increases. This is a very good thing of course, altcoin positions like today should continue to be utilized. Maybe for most people then this is an advantage, we should be able to take momentum and I do not think to wait too long because it can make us lose positive momentum. we all do not know how things are going forward, it could be that circumstances will not take our side. So take this opportunity and do not waste any opportunities.

[dutchkay]

Bitcoin growth will be massive next year and many alts will become useless. My advice is know the alts you are currently buying but have Moscow your money in bitcoin, it will do wonders.

[xebecstyx]

Price relative to what ? Relative to USD many alts rose along with Bitcoin simply by holding their ALT:BTC price.

Bitcoin as it lifts capitalisation lifts the value of the entire crypto market then once the rise stabalises that new Bitcoin money seems to help the ALTs

If it was draining the ALTs they'd be drained dry by now, BTC has had a good past 12 months added more market cap this year than the entire ALT market value in Jan 2017 probably.

I think partly it does, especially now that the price of bitcoin is going up in a very unbelievable pace. But I don't think that altcoins will die because it serves as a deterent for bitcoin in the market, and it actually gives the market more action.

[Prodigan786]

I am speechless most of my holdings lost more than 70% in recent bitcoin rise now I am thinking to keep or sell for usdt otherwise will do token swap in coss platform.But for relaxation while compare to usd loss is very less

[Usui-Chan]

The price of altcoins kind of depend on the price of bitcoin, look at ethereum lately, its price actually grew with respect to the growth of bitcoin.

[CETPENCET23]

Price of altcoins is dropping, nearly 85% of altcoins suffer from the recent bitcoin boom because most people exchange their coins for bitcoins.
What is your thought on this matter?  

I think this is a natural thing ... I think a lot of people who strongly believe in altcoins in my portfolio. and they will surely grow even more.

[crypto_world]

Price of altcoins is dropping, nearly 85% of altcoins suffer from the recent bitcoin boom because most people exchange their coins for bitcoins.
What is your thought on this matter?  

I think this is a natural thing ... I think a lot of people who strongly believe in altcoins in my portfolio. and they will surely grow even more.

People who bought alternative coins a few months ago now suffer heavy losses. Bitcoin does not give a chance to altcoins for growth. If this continues, then the coins will die

[shinjunobi09]

Not necessarily because based on my analysis some alternative coins are also increasing its price along with bitcoin it's like these when bitcoin rose to popularity they also allow the introduction of alternate coins in the mass media.

[fixmod]

Don't hope that altcoins are going to survive. Bitcoin is getting all profit on its side.
There is no chance as nasdaq news published. Now its time to get 1 satoshi = 1 Cent

[blozo]

Currently bitcoin run should be fueled by the CME futures news. They will officially start trading the 18DEC

If other currencies like ETH or LTC will get their financial products as well, we should see a good run for them too

[mark_salcedo618]

although bitcoin is at the top, altcoin is trying to stand up and getting in the line. its because of the increasing demand of the company represented by the ALTCOINS. most likely they launch or brought out new updates about their company thats why the altcoins are pumping.

[marcbitcoins]

Price of altcoins is dropping, nearly 85% of altcoins suffer from the recent bitcoin boom because most people exchange their coins for bitcoins.
What is your thought on this matter?  

This is natural because as we can see now in the market trend that BTC value is fast increasing compare to altcoin in which this will result to attract many altcoin holders to give up their coins for BTC to be onboard of the rapid price increase. If only altcoins is widely accepted in local exchanges i think many will continue to hoard it because as of now we need BTC for fiat.

[WhaleSlayer]

This is not entirely true, I have seen that in the whole the value in $ of most alts is kind of rising as well, even though not as spectacular as Bitcoin.

[gracer88]

If you look at the bitcoin-altcoin price ratio, then many alts have fallen in price. If you look at the dollar-altcoin price ratio, many altcoins have grown in price. I have always counted by 1 ratio. And of course, I'm a little upset by the current situation.

[zchprm]

This is not a surprise for everyone. Bitcoin is the best coins for now and there is a trade off for this. Small coins will be drained and affected by this.

[Loganemma]

Of course,  Bitcoin is the Giant of Cryptocurrency.