Why alts are going down?

[nerox]

I dont got this game..
when bitcoin is rising the alts are going down
when btc is going down the alts still going down
what the fuck??
This make no sense
alts need to follow bitcoin when he is rising too  

[RomanPetrush]

I dont got this game..
when bitcoin is rising the alts are going down
when btc is going down the alts still going down
what the fuck??
This make no sense
alts need to follow bitcoin when he is rising too  

Altcoins depends on the bitcoin price but not in direct way, as Alts depending more on Ethereum than on Bitcoin. But Ethereum depends on Bitcoin. So look at the prices in that way.

[Crislyn4116]

For me is when the altcoins are going down that is cause by bitcoin. Because bitcoin is the base of all altcoins they all follow the price of bitcoin. If the bitcoin is going down the market will make all red it mean the price going down. And if the bitcoin will recover after the red days or dumping days the altcoin will follow bitcoin to pump.

[poodle63]

I dont got this game..
when bitcoin is rising the alts are going down
when btc is going down the alts still going down
what the fuck??
This make no sense
alts need to follow bitcoin when he is rising too  

Only another correction and you shouldn't worry about that. Altcoin just follow the trend of bitcoin. if bitcoin goes down and then altcoin will be following it to get more correction than bitcoin but if bitcoin increase and altcoin will be following it. Look at the latest chart. it looks the majority of crypto currency is searching the stable value with the latest correction.

[makulo123]

Basically the altcoins are mainly following the price of Bitcoin.
Bitcoin is the biggest of coins, the first of coins and the most known of coins.
Crowd's mentality is like this "ok, so I put my money into NEO, I think it's a wonderful project".
(the Bitcoin price turns red)
Crowd thinks "OH MY GOD, the crypto is crashing!!!! What am I gonna do???" ... (sold everything) ... "Fuuh, such a relief, I could have lost a lot more"
(crypto turns green)
"OH MY GOD, the crypto is rising again!!!! What am I gonna do???" ... (FOMO) ... "yeah, this is how it is done"

BTC as indicator  

[Rigorous]

Altcoins only go up in a sideways Bitcoin market.

If Bitcoins goes up, you sell your alts for satoshis to profit from the Bitcoin price increase.

If Bitcoin goes down, you sell your alts for stablecoins like Tether I guess?

If Bitcoin goes sideways, you need another way to collect more satoshis = altcoin season.

[aoluain]

I am looking at coinmarketcap now and I dont see the panic, nearly
everything is down. There is no hard and fast rule as to why any
coin reacts differently to BTC.

While I dont trade regularly, there may be a trading trend if BTC
starts to rise people trade into it from other coins because lets
face it every other coin has a trading pair with BTC

The main thing is not to panic.

[helga22richter]

Why do you think that all of them are going down? Standing of new crypto is a long and changing process. It's hard to compare with Bitcoin.

[Arngrim]

My alts are going up.  
Check your portfolio again.
You may have been supporting the wrong altcoin. Others might be in red but not all the way. A little percentage is just out and that is for the 24 hour period.
You will get used to this somehow.
Bitcoin stability will increase the value of the altcoin. There might be panics now at the market.

[bamboylee]

I think if your coin is an ERC20 token, it should follow the price of Ethereum because most of the tokens are traded in ETH. Altcoins that are directly traded with bitcoin should be affected by the price change of bitcoin. And if you are just looking at coinmarketcap, that is an incomplete picture since it just shows dollar values based on bitcoin price. You should check individual price of tokens based on satoshi.

[paulus51]

Alts should increase along with the cost of bitcoin. If you are very concerned about the correlation, then just sell the altcoins for bitcoin

[beheddard]

The fiat price of alts will depend on the fiat price of major trading pairs. So one of the reasons could be ETH or BTC going down in value for example, even if the alt is still worth the same amount of sats or gwei.

[fitzzz]

if you are looking at the dollar value the price changes if the price of btc is moving.. but if you look on satoshi the value is the same... because all of the altcoins is depend on btc and dollar value in cmc...

[Bttzed03]

It is not always the case. Maybe what you are only seeing are the alts you are holding.
Some alts will go up or down whether bitcoin goes up, down or sideways.

[noloco]

Introduce fiat on the equation and both going down because funds are going to fiat is also possible, other option is markets exchanging alts for btc at some stage.

[twothirtyfive]

Introduce fiat on the equation and both going down because funds are going to fiat is also possible, other option is markets exchanging alts for btc at some stage.

Exactly.  You have to take into account the trading pair distribution when taking into account altcoin growth.  When swapping between currencies, you are creating a large amount of sell orders which messes up the price of altcoins.

[Julunguul]

I dont got this game..
when bitcoin is rising the alts are going down
when btc is going down the alts still going down
what the fuck??
This make no sense
alts need to follow bitcoin when he is rising too  

Alts only going to be stable or going up just if bitcoin price is stable.
This is normal, when bitcoin down. Some people will panic and want to sell their alts to btc. and they are sell it again to FIAT
When bitcoin going up, some people will panic and want to sell their alts and save it to btc

In that state you dont need to worry and just set the stoploss, you should count your asset to usd if you want to compare

[btcluisdiki]

Currently, I agree that most of altcoins were now on downward trend and I think it will only be temporary. Just don't immediately panic and sell your coins this time as this will recover soon. Will just hope for another spike in BTC such that the price value of Altcoins will follow and this is what usually happen. BTC is now at it's stable value at 10.2K USD and since there is no major movement in the price, probably this has an impact on the altcoins.

[bornforfreedom]

Not all alts are going down. IoT Chain (ITC) has been doing great this past week. Holding steady.
https://coinmarketcap.com/currencies/iot-chain/

[yanto@1977]

I dont got this game..
when bitcoin is rising the alts are going down
when btc is going down the alts still going down
what the fuck??
This make no sense
alts need to follow bitcoin when he is rising too  

Not always like that, even altcoin follow bitcoin but situation is not like that. When bitcoin go up, every one will exchange/ replace their altcoin into bitcoin for higher value. In this situation, altcoin supply and demand not balance again, more supply with small demand make altcoin price go down. We have to prepare when situation like this happen, specially in long time. Don't forget your stop loss or you can raise patience learning.