Would a BTC crash destroy alt coins?

[VPietro]

Hello everyone, I'm sorry if this sounds stupid. I am a learner in the crypto scene.  

I know BTC probably isn't going to crash anytime soon, and in this case, if a huge BTC crash happens, eventually most altcoins would suffer alot.

But, in this cenario of crash, would most of the alts be done? I mean, what are the odds of altcoins surviving this crash? Would they then get negotiated with fiat?

I was just wondering this and wanted to discuss this (distant?) possibility...

[MiiDoViic]

Bitcoin is the core of all altcoins. If it crashes people will notice how risky and volatile investing in cryptocurrencies is ,It would be hard for anyone to trust another coin and most of the people will start panic selling their alts . You already saw how when ever bitcoin goes down most of the alts go up and the opposite. So yes if bitcoin crashes it would be a sad time for alts too.

[sandpiper]

That's a good question and I noted that it's a concern for those who run altcoins:

Eg. Litecoin Founder Charlie, in a recent interview on CNBC:

The frenetic growth in cryptocurrency prices was also impeding their wider adoption as most people were using them as a speculative asset rather than using them to make real-world transactions: "I think we're still maybe five years away before people actually start using bitcoin and litecoin in real world use as a currency."

https://www.c[Suspicious link removed]m/2017/12/14/litecoin-founder-charlie-lee-talks-bitcoin-cryptocurrencies.html

[dirgayeah]

Crashed ? I Don think so brother
Crashed it's mean system failure and another kind of error. But on this condition bitcoin still allright and maybe just going down a little bit so this normal.
Don' t made a simple conclusion on news out there. We must analyze first.

[boyshx]

Bitcoin is the mother of all cryptocurrencies. Its like a face of cryptocurrencies to the currency world. Despite bans and regulations by many countries for many reasons bitcoin community have shown trust and confidence in bitcoin currency. As a result investors are investing large amount in bitcoin. By keeping in mind bitcoins growth many investors are investing in other cryptocurrencies. In future if anything happens to bitcoin, it will definitely get reflected on other cryptocurrencies. But it will not destroy these currencies permanently.

[pey]

Yes the crash of bitcoin affects altcoins but there are lots of coins which are not overpriced like bitcoin now so even though they may be affected a little bit, they will not crash hard.

[Bonus777]

If bitcoin collapses, people will lose faith in all crypto-currencies. I think that this will not happen. Manipulation will be, but the collapse of bitcoin is gone. Especially altoquin is now very dependent on bitcoin.

[sandpiper]

Remember this formula.
BTC goes up, alts down
BTC goes down, alts down
BTC stable.. alts flourish

So true! Maybe one exception, LTC which follows BTC trend.

[deadsilent]

I know BTC probably isn't going to crash anytime soon, and in this case, if a huge BTC crash happens, eventually most altcoins would suffer alot.

No. The opposite will happen. When Bitcoin crash, altcoin market will surge. That's what is usually happens. If altcoins crash, Bitcoin is pumping. But in rare occasions, Bitcoin crash and altcoins crash too. That's a rare scenario. But it actually happening. However, Altcoins can still survive no matter what.
happen. Anyway, expect Bitcoin price will surge again soon as the CME will add Bitcoin to their futures at Dec. 18. Expect altcoins to bleed again because the Bitcoin will suck most of the volume from the altcoin market. So hold Bitcoin for now. Just to be safe.

[Acguy]

If bitcoin were to fail then so will all of crypto.

[Sundark]

I don't think so. I think altcoins will grow in that case. However there can be a total disappointment in crypto and all coins will drop in price. But I doubt that it'll happen.

[VPietro]

Crashed ? I Don think so brother
Crashed it's mean system failure and another kind of error. But on this condition bitcoin still allright and maybe just going down a little bit so this normal.
Don' t made a simple conclusion on news out there. We must analyze first.

My bad. By "crash" I meant, IDK, a speculative bubble price crash maybe?

Before I get demonized, I know BTC is not a bubble, but I think there's a big number of gamblers in this market.

Maybe some negative news or regulations would scare some people and cause some kind of crash? I really don't know, just discussing in case this happens...

Anyway, thank everyone for the discussion. If such an event happens again with BTC like happened with Mt Gox in 2013, do you think altcoins would  surge? Following this present trend of surging when BTC falls...

[iigor]

Bitcoin is the cornerstone of cryptocurrencies. If it crashes that will definitely cool down the market for all cryptocurrencies. But will not be the end of it, just a new beginning

[shiningstar]

Yes, if bitcoin crash people will convert their money to fiat, so the alts will be affected as more people will sell their bag to stay safe. That's why it's better to leave your money as bitcoin or some top alts like eth, because strong alts have the ability to recover later when the situation stabilize instead of dying to oblivion like a lot of shit token.

[noodle_dam]

Depends on what reasons the BTC would crash. But because BTC is the main pillar for crypto, any disturbance to it will have ripple effects (no pun intended) on the market, that's natural.

But if we are to think that BTC had many crashes and still alts still survived long term but also highly thrived and increased in numbers.

So I wouldn't say a crash would destroy alts but of course, would hurt everyone.

[qazgroup]

I will somewhat agree to your concerns, it is evident from the past the both the btc rise and crash leads to panic in altcoin markets. So we should know the risks.

[happyme1818]

Remember this formula.
BTC goes up, alts down
BTC goes down, alts down
BTC stable.. alts flourish

This is not always the scenario of altcoins. Sometimes when bitcoin goes down, good projects  usually goes up. There are many factors to consider why altcoin goes up and down, updates or incoming events could also prevent altcoin to dump even if bitcoin pumps.

[steveabrahams]

I thought if bitcoin crash, altcoins users will happy ? I mean, when the price of bitcoin fall/crash, altcoin price will pumped go high. If bitcoin crash, it will not destroy altcoins. The only change is the price of altcoins, because many altcoins following the bitcoin price.

[VPietro]

Depends on what reasons the BTC would crash. But because BTC is the main pillar for crypto, any disturbance to it will have ripple effects (no pun intended) on the market, that's natural.

But if we are to think that BTC had many crashes and still alts still survived long term but also highly thrived and increased in numbers.

So I wouldn't say a crash would destroy alts but of course, would hurt everyone.

This is what gives me hope. A survived crash would be a new chance, kind of a restart. Anyway, I don't think it will happen atm.

[Beerwizzard]

Most of the altcoins are traded in pairs with BTC in exchanges and it is obvious that  BTC dump willdecrease their USD volume too. However  if it happens most altcoin holders will try to panic sell alts for fiat or btc as it always happens. I belive that BTC will not "crash" but it may have a very strong correction (ofc all media and "experts" like JP Morgan CEO will scream that it is) and there is a chance that it will kill some alts.