BTC holding it's own trend?

[andrei56]

Watching the markets closely and I find it interesting that while BTC has been trending up slightly over the past week, the majority of other alts are down or just wavering...could this be why BTC is trending up? Everyone is focusing on that? I thought it was interesting as normally we see everything move in tandem together but this time I'm not sure whether to invest in any alts given they seem to be going their own way...

All the attention is on bitcoin right now, the same happened when the last bull market really took off, bitcoin began going up and then the alts did not moved up immediately but instead it took some time before they began moving, that does not mean that we are going to see some kind of bull market in the next weeks, but this is something we have seen before.

[player514]

Watching the markets closely and I find it interesting that while BTC has been trending up slightly over the past week, the majority of other alts are down or just wavering...could this be why BTC is trending up? Everyone is focusing on that? I thought it was interesting as normally we see everything move in tandem together but this time I'm not sure whether to invest in any alts given they seem to be going their own way...

There is also a lot of alts that is good for investment. At the moment bitcoin is good for a short investment. Why? Because the price is not stable, it decreasing at any moment then after that it increases.

I'm not sure if this is the true reason why BTC is holding its own trend. I'd argue that the prices of alts is even less stable than Bitcoin for the most part, so if that's the reason people are investing in Bitcoin, then they should also be putting their money into altcoins as well since there's chances of a higher profit margin there. I don't disagree that Bitcoin is good for a short investment, but I think there's countless alts that are also good for short investment.

The reason for Bitcoin holding its own personally has to do with the coverage its been getting and the positive following it's raised. Think about it -- Bitcoin dropped a pretty good amount. The naysayers expected it to fall to pretty much nothing. Instead, it held at around 6-7k for a while, then jumped to 8k and here we are. There's a positive message there, and it's that there's still support for Bitcoin -- even in large amounts to raise the price by a double digit % overnight.

[Herbert2020]

Watching the markets closely and I find it interesting that while BTC has been trending up slightly over the past week, the majority of other alts are down or just wavering...could this be why BTC is trending up? Everyone is focusing on that? I thought it was interesting as normally we see everything move in tandem together but this time I'm not sure whether to invest in any alts given they seem to be going their own way...

There is also a lot of alts that is good for investment. At the moment bitcoin is good for a short investment. Why? Because the price is not stable, it decreasing at any moment then after that it increases.

you can never say an altcoin is a better investment than bitcoin at any time under any circumstances because if you think bitcoin has unstable price then you already know that altcoins are at least 10 times more unstable. so if your criteria for a good investment is to be stable then you shouldn't even go near altcoins.
not to mention that technically a good investment is something that has lower risk but higher reward. in case of altcoins the risk is extremely high because they are not only not-stable but also they are heavily manipulated which makes them even more unpredictable.

[timerland]

Watching the markets closely and I find it interesting that while BTC has been trending up slightly over the past week, the majority of other alts are down or just wavering...could this be why BTC is trending up? Everyone is focusing on that? I thought it was interesting as normally we see everything move in tandem together but this time I'm not sure whether to invest in any alts given they seem to be going their own way...

Bitcoin moves independently of other cryptos. Even though you may have saw that other cryptos get influenced by bitcoin's pricing at the past, there isn't really a permanent correlation. Besides, bitcoin dominance has been at all time lows last year and this year, meaning that bitcoin will most likely in my opinion see more recovery in the near future compared to other cryptos.

However, don't expect this bitcoin rally to continue permanently.

I don't think we're getting out of the bear market fully at the moment, and the correction has obviously brought down BTC to the $7.5k mark again. Although some are suggesting that this will be the start of the BTC bull market, I believe we're still far from it at this stage.

[Horace_Damico]

Watching the markets closely and I find it interesting that while BTC has been trending up slightly over the past week, the majority of other alts are down or just wavering...could this be why BTC is trending up? Everyone is focusing on that? I thought it was interesting as normally we see everything move in tandem together but this time I'm not sure whether to invest in any alts given they seem to be going their own way...

There is also a lot of alts that is good for investment. At the moment bitcoin is good for a short investment. Why? Because the price is not stable, it decreasing at any moment then after that it increases.

you can never say an altcoin is a better investment than bitcoin at any time under any circumstances because if you think bitcoin has unstable price then you already know that altcoins are at least 10 times more unstable. so if your criteria for a good investment is to be stable then you shouldn't even go near altcoins.
not to mention that technically a good investment is something that has lower risk but higher reward. in case of altcoins the risk is extremely high because they are not only not-stable but also they are heavily manipulated which makes them even more unpredictable.

Yeah the thing that worries me the most about altcoins is how easily they can be stomped out if someone wants to either hack or short them. It doesn't take much money to acquire 51% of an altcoin and then shut it down. Whereas Bitcoin is much more resilient to these risks. It's firm enough to stand on its own two feet and not get pushed around by manipulators.

It looks like it's pushing back into its downtrend though. That 7500 level is where it broke up above the downtrend it had established, and now it's back through on the negative side... hopefully not for long

[coinplus]

Watching the markets closely and I find it interesting that while BTC has been trending up slightly over the past week, the majority of other alts are down or just wavering...could this be why BTC is trending up? Everyone is focusing on that? I thought it was interesting as normally we see everything move in tandem together but this time I'm not sure whether to invest in any alts given they seem to be going their own way...

I understand you probably talk about an altcoin like nano or something or even smaller and have kinda like couple million market cap in total but we call altcoin to anything that is not bitcoin. So, consider the fact that maybe when someone talks about altcoins they might be talking about ethereum or litecoin or ripple or dash or whatever coin they might be talking about.

Hence, those types of coins can't be bought 51% of or so, well they can but it would require insanely a lot of money to purchase that much of a coin and by that time the price of it will increase significantly and will cost even more, you should focus on bigger coins instead of those small ones you consider. In my observation bitcoin will repeat its history again and again in future. It means how bitcoin prices jumped in 2019, similar kind of rally may happen again in 2019 or earlier too. We all must have to be prepared to touch the moon at that times.

[lauder_larger]

Watching the markets closely and I find it interesting that while BTC has been trending up slightly over the past week, the majority of other alts are down or just wavering...could this be why BTC is trending up? Everyone is focusing on that? I thought it was interesting as normally we see everything move in tandem together but this time I'm not sure whether to invest in any alts given they seem to be going their own way...

All the attention is on bitcoin right now, the same happened when the last bull market really took off, bitcoin began going up and then the alts did not moved up immediately but instead it took some time before they began moving, that does not mean that we are going to see some kind of bull market in the next weeks, but this is something we have seen before.

Actually due to possible EFT approval, it is very much obvious that people are taking Interest in Bitcoins. You can see the Bitcoin Dominance in the coin market cap and it is continuously increasing (Currently BTC Dominance: 48.4%)

[Beegovere]

Watching the markets closely and I find it interesting that while BTC has been trending up slightly over the past week, the majority of other alts are down or just wavering...could this be why BTC is trending up? Everyone is focusing on that? I thought it was interesting as normally we see everything move in tandem together but this time I'm not sure whether to invest in any alts given they seem to be going their own way...

All the attention is on bitcoin right now, the same happened when the last bull market really took off, bitcoin began going up and then the alts did not moved up immediately but instead it took some time before they began moving, that does not mean that we are going to see some kind of bull market in the next weeks, but this is something we have seen before.

Although Bull Market has not yet started and we are still experiencing bearish market, but i hope this bitcoin dominance will give good boost to bitcoin price in near future maybe near August 10.

[ethereumhunter]

Watching the markets closely and I find it interesting that while BTC has been trending up slightly over the past week, the majority of other alts are down or just wavering...could this be why BTC is trending up? Everyone is focusing on that? I thought it was interesting as normally we see everything move in tandem together but this time I'm not sure whether to invest in any alts given they seem to be going their own way...

All the attention is on bitcoin right now, the same happened when the last bull market really took off, bitcoin began going up and then the alts did not moved up immediately but instead it took some time before they began moving, that does not mean that we are going to see some kind of bull market in the next weeks, but this is something we have seen before.

Actually due to possible EFT approval, it is very much obvious that people are taking Interest in Bitcoins. You can see the Bitcoin Dominance in the coin market cap and it is continuously increasing (Currently BTC Dominance: 48.4%)

maybe most of the trader are focusing their attention to bitcoin because the bitcoin price now is at the lower price and still getting down in this week. and it makes the altcoin loss their price and gets down too deep. and maybe this will bring a good news for bitcoin itself because I think after this trends, the price can increase higher again and if this continues, the price will break the highest price more than before. but bitcoin still have many times to increase the price and it can happen in the next months.

[manismanja]

yes you are right bitcoin is currently falling and tends to go down so it is more likely to hold a holding until the price at the exchange place restores the price.

[zalizoll]

You have to focus on coins that are larger than the small ones you are considering. In my observation, bitcoin will repeat its history again and again in the future. This means how the price of bitcoin soared in 2019, a similar rally can occur again in 2019 or earlier too.

[Quinni]

BTC has been on a downward trend at present, and the price has not broken the long-term downward trend line, so I think the price may reach $4,000.

[STT]

Watching the markets closely and I find it interesting that while BTC has been trending up slightly over the past week, the majority of other alts are down or just wavering...could this be why BTC is trending up? Everyone is focusing on that? I thought it was interesting as normally we see everything move in tandem together but this time I'm not sure whether to invest in any alts given they seem to be going their own way...

Actually pretty good question but a never ending one as there is no fixed link even between the oldest of the alt coins and Bitcoin, its all in the minds and I guess usage of the participants spread over crypto.

So last year we had the BTC blockchain split happening and people wanted to hold BTC for that duration and also there was a large influence on alt coins prices rising quite alot as alternatives to BTC.

This year I see the main feature as being that BTC has fixed the order in its own house and reduced transaction fees dramatically.  If alt coins have one person its to easily and cheaply pass value which BTC is already doing quite well hence maybe leading to the lower prices.    Genuine innovation and use is required to justify pricing long term

[andrei56]

Watching the markets closely and I find it interesting that while BTC has been trending up slightly over the past week, the majority of other alts are down or just wavering...could this be why BTC is trending up? Everyone is focusing on that? I thought it was interesting as normally we see everything move in tandem together but this time I'm not sure whether to invest in any alts given they seem to be going their own way...

All the attention is on bitcoin right now, the same happened when the last bull market really took off, bitcoin began going up and then the alts did not moved up immediately but instead it took some time before they began moving, that does not mean that we are going to see some kind of bull market in the next weeks, but this is something we have seen before.

Actually due to possible EFT approval, it is very much obvious that people are taking Interest in Bitcoins. You can see the Bitcoin Dominance in the coin market cap and it is continuously increasing (Currently BTC Dominance: 48.4%)

maybe most of the trader are focusing their attention to bitcoin because the bitcoin price now is at the lower price and still getting down in this week. and it makes the altcoin loss their price and gets down too deep. and maybe this will bring a good news for bitcoin itself because I think after this trends, the price can increase higher again and if this continues, the price will break the highest price more than before. but bitcoin still have many times to increase the price and it can happen in the next months.

The attention is in bitcoin due to the ETF, but it seems that is not going to get approved in August, I read that it may take until September for that happen, if that is correct then you need to prepare since it is quite likely that we are going to see the price of bitcoin move a little bit more than usual as people speculate if the SEC is going to finally going to approve the bitcoin ETF or not.

[Siren]

Watching the markets closely and I find it interesting that while BTC has been trending up slightly over the past week, the majority of other alts are down or just wavering...could this be why BTC is trending up? Everyone is focusing on that? I thought it was interesting as normally we see everything move in tandem together but this time I'm not sure whether to invest in any alts given they seem to be going their own way...

Right because people now are converting their alternative coins to buy bitcoin you now why?just because of the ETF and things will changed after this ,look how great bitcoin has grown its market cap while altcoins continues to drown,as many investors withdrawing support from their own folios though i am a bitcoin fanatic and supporter but i dont like the way how market now are in balanced

[Idrisu]

Watching the markets closely and I find it interesting that while BTC has been trending up slightly over the past week, the majority of other alts are down or just wavering...could this be why BTC is trending up? Everyone is focusing on that? I thought it was interesting as normally we see everything move in tandem together but this time I'm not sure whether to invest in any alts given they seem to be going their own way...

Some time this type of relationship between altcoins and bitcoin do happen and I always accuse flippers for this type of price action.  From the beginning of this month things are a bit normalize and we can now see bitcoin and altcoins moving together.

[websoftwareengineer]

yes you are right bitcoin is currently falling and tends to go down so it is more likely to hold a holding until the price at the exchange place restores the price.

You can always take advantage of the market while the prices are falling because in this way you can invest more coin at its cheapest price which will make you earn more profit when the prices goes back to normal.

[loverets45]

yes you are right bitcoin is currently falling and tends to go down so it is more likely to hold a holding until the price at the exchange place restores the price.

You can always take advantage of the market while the prices are falling because in this way you can invest more coin at its cheapest price which will make you earn more profit when the prices goes back to normal.

I current time we can see that bitcoin price is trading below 6500, which I think is a very attractive price for the investors to invest money in bitcoin. I think that mature investors will get benefit from such a good opportunity and will surely try to invest money in bitcoin in such a low price.

[buwaytress]

Watching the markets closely and I find it interesting that while BTC has been trending up slightly over the past week, the majority of other alts are down or just wavering...could this be why BTC is trending up? Everyone is focusing on that? I thought it was interesting as normally we see everything move in tandem together but this time I'm not sure whether to invest in any alts given they seem to be going their own way...

Actually pretty good question but a never ending one as there is no fixed link even between the oldest of the alt coins and Bitcoin, its all in the minds and I guess usage of the participants spread over crypto.

So last year we had the BTC blockchain split happening and people wanted to hold BTC for that duration and also there was a large influence on alt coins prices rising quite alot as alternatives to BTC.

This year I see the main feature as being that BTC has fixed the order in its own house and reduced transaction fees dramatically.  If alt coins have one person its to easily and cheaply pass value which BTC is already doing quite well hence maybe leading to the lower prices.    Genuine innovation and use is required to justify pricing long term

Yeah, it's really hard to form patterns when there's really so little history to look at. People have talked about alt season but there's really only been one big one that culminated around Bitcoin's ATH - most alts have simply not been around long enough to really see discernible patterns emerge.

By that same definition, Bitcoin has always held its own trend. There's no other coin it follows. Rather than rely on the cryptomarket, it's the entire crypto market that gets pulled along by Bitcoin. Of course, the way it spiked and then dropped over the past month was largely a move alts didn't immediately follow, but it still generally gave momentum.

[Horace_Damico]

Watching the markets closely and I find it interesting that while BTC has been trending up slightly over the past week, the majority of other alts are down or just wavering...could this be why BTC is trending up? Everyone is focusing on that? I thought it was interesting as normally we see everything move in tandem together but this time I'm not sure whether to invest in any alts given they seem to be going their own way...

Actually pretty good question but a never ending one as there is no fixed link even between the oldest of the alt coins and Bitcoin, its all in the minds and I guess usage of the participants spread over crypto.

So last year we had the BTC blockchain split happening and people wanted to hold BTC for that duration and also there was a large influence on alt coins prices rising quite alot as alternatives to BTC.

This year I see the main feature as being that BTC has fixed the order in its own house and reduced transaction fees dramatically.  If alt coins have one person its to easily and cheaply pass value which BTC is already doing quite well hence maybe leading to the lower prices.    Genuine innovation and use is required to justify pricing long term

Yeah, it's really hard to form patterns when there's really so little history to look at. People have talked about alt season but there's really only been one big one that culminated around Bitcoin's ATH - most alts have simply not been around long enough to really see discernible patterns emerge.

By that same definition, Bitcoin has always held its own trend. There's no other coin it follows. Rather than rely on the cryptomarket, it's the entire crypto market that gets pulled along by Bitcoin. Of course, the way it spiked and then dropped over the past month was largely a move alts didn't immediately follow, but it still generally gave momentum.

I'd agree with that. Bitcoin has clearly carved out its own path but the altcoins just like to imitate it whenever possible. The usability of Bitcoin makes it more attractive to regular investors and that's why it tends to follow its own trend. Altcoins might follow too, but they won't keep up for long.

It's also hard to see where crypto is going because of that lack of data. Try looking at a weekly or monthly chart and you'll be scratching your head. The only info you have are the past few candlesticks because there's no long term trend. We can only look at short term trend lines on hourly and daily charts.