The BTC crash is good news for Altcoins

[eagle10]

That's their opinion. Everybody has its own opinion. In my opinion, it is a different case because bitcoin is king of altcoins so altcoins move is dependent on the price of bitcoin. This is what I observed. In case that one day bitcoin find its value left behind and altcoin's price shoot up without the influence of bitcoin's price then, maybe there is a little break away of the altcoins that may replace its dominance in the market. However, it will be short live I guess.

[lutfi-hasan]

Yes, there are some Altcoin who experienced a pretty good price increase when the BItcoin price fell, namely Coin XRP which increased quite well, because it received full support from government institutions, so when the price of Bitcoin fell, XRP coins went to the moon.

[yitzjoe]

crypto will continue to evolve and develop to answer user needs and this is an important mainset. when the crypto price falls this is a market dynamic and must be carried out with optimism and patience because crypto is still a potential to be a long-term investment

[viktoriya1945]

https://cointelegraph.com/news/why-did-crypto-market-experience-a-27-billion-wipeout-experts-discuss-factors

Every situation has a bright side, you just have to look at the bigger picture!

According to Crypto Rand, a currency trader and technical analyst,

"We will have to wait some more months until BTC settle down its path through a potential reversal, but the alternative cryptocurrency market could take its own direction getting rid of the BTC influence. The big caps altcoin response has been amazing so far."

Further on, the article goes on to say,

"Institutional investors are focusing on products that provide investor protection and strengthen the infrastructure of the crypto market."

Such volatility doesn't mean anything. The true value of cryptocurrency lies in a strong foundation (which requires user-friendly decentralized marketplaces where we can use cryptocurrency, and added security in the form of escrow systems) which will be made possible with the upcoming ICO's.

They're not all scams!

I agree with you, indeed Bitcoin greatly hinders the development of other promising altcoins, I think that in this situation traders are very guilty they create strong price volatility and start buying Bitcoins at the first danger and leave altcoins.

[sanasara]

I don't think so it is the good because bitcoin is the king of altcoins and when btc crashed all altcoins also suffer with same and this is which we are facing from the start of the crypto yes we have to wait more months so that we should wait patiently for the stable situation of the market and bitcoin as well.

[polonezup]

I think no because the price of altcoins related to fiat drop.

[qolaqola]

I don't even know how to say it. I do not think that bitcoin has a strong impact on all altcoins and you should always take into account their relationship between themselves and the dollar. for me, this market is difficult and risky, it's true..

[kidoseagle0312]

In my opinion, I doubt that it is a good news for the altcoins, due to majority of it(which is the altcoins) when Bitcoin drop its value altcoins will get affected by it, then if there are some altcoins get pump its value, it is obviously a temporary only just like what happened into XRP so far were it was being manipulated only by the their manipulators in the market.

[ikarasev10]

In fact, most of the altcoins are already on the way to unbinding from bitcoin. There is more to the question in large investors, which in several areas is beneficial to dump the market

[prokurovt]

If bitcoin falls much lower, the same miners will not be profitable to mine it and they will leave the game and switch to something else.

[SSSegrio]

If bitcoin falls much lower, the same miners will not be profitable to mine it and they will leave the game and switch to something else.

So if they switch to other coins, wouldn't that mean that the big players in the mining market would win and make a monopoly?

[olubams]

Rejoicing over the fall of bitcoin because the price fall have little or no impact on the price of certain altcoin to me is just hypocritical because eventually it will touch every section of the market. What we don't know is that, the hit that bitcoin is taking is for the entire crypto industry and if it fails, the whole industry might go down with it which is why its of essence to work together for its survival and after which everyone can then focus on its own preferred altcoin.

[Galantin]

I think it will take too much time before altos can exist on their own. Of course, I am more than confident that the era of BTC pressure on the entire cryptocurrency world will soon end. Although it is not accurate.

[Genemind]

https://cointelegraph.com/news/why-did-crypto-market-experience-a-27-billion-wipeout-experts-discuss-factors

Every situation has a bright side, you just have to look at the bigger picture!

According to Crypto Rand, a currency trader and technical analyst,

"We will have to wait some more months until BTC settle down its path through a potential reversal, but the alternative cryptocurrency market could take its own direction getting rid of the BTC influence. The big caps altcoin response has been amazing so far."

Further on, the article goes on to say,

"Institutional investors are focusing on products that provide investor protection and strengthen the infrastructure of the crypto market."

Such volatility doesn't mean anything. The true value of cryptocurrency lies in a strong foundation (which requires user-friendly decentralized marketplaces where we can use cryptocurrency, and added security in the form of escrow systems) which will be made possible with the upcoming ICO's.

They're not all scams!

I think this wipl be great if altcoin price will never be dependent on bitcoin price anymore. More and more ICOs are trying to build an altcoin that can stand on it's own and to avoid market volatility which can be safe for investors.

[Iykecollinz]

Btc fall creates a double effect on alts and with more falls the alts get more threatened. Never has altcoins been favored by the fall in the price of btc. The direction has always been that btc stability causes altcoins growth while its its pump or dump often has have a certain effects on alts usually negative and few times based on market sentiements 

[Sundaey]

How does your article has to back up the say i don't think this is actually true, you checking your etherscan.io is enough to show you that the lower ethereum goes the lower the rest does same apply to bitcoin once it fall ethereum does double and the altcoins also do it massively so tell me how that connection is going to be left out of this, bitcoin just have to keep increasing so the market can look good.

[Pamahaw]

Such volatility doesn't mean anything. The true value of cryptocurrency lies in a strong foundation (which requires user-friendly decentralized marketplaces where we can use cryptocurrency, and added security in the form of escrow systems) which will be made possible with the upcoming ICO's.

They're not all scams!

That is absolutely true, not all ICOs are scam but the thing is, the developer of some projects tend to abandoned their project in this bearish time thus leaving their investors in pain of losing money. Volatility is an opportunity but we should be careful not to fall into a trap just like some of those shitcoins that initially have high value but at the end it almost drop to zero.

[clickerz]

In my opinion, I doubt that it is a good news for the altcoins, due to majority of it(which is the altcoins) when Bitcoin drop its value altcoins will get affected by it, then if there are some altcoins get pump its value, it is obviously a temporary only just like what happened into XRP so far were it was being manipulated only by the their manipulators in the market.

Bitcoin crash is not good either on altcoins. When bitcoin dives downward, altcoins follows. Altcoins value follows suit and its not good. OP's point maybe is that we can buy cheaper alts, but if yo have already that altcoins, you become a bagholder if you did not cut loss when crash happens. It takes time for bitcoin to recover.

[maxilopez]

I do not think that altcoin will somehow benefit from this. on the contrary, it seems to me that if bitcoin dies or collapses in price, it will have a very negative impact on all altcoins

[wanted sliter]

bitcoin price go down is never be a good news for any aspect of market
it's still a leading coin. so it's very hard to have any altcoin rising when the king get sick.
just hope that not to happen