solid12345 (OP)
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March 12, 2014, 12:55:25 AM |
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I've been pondering this myself, obviously a lot of people are just pumping and dumping coins just to be able to buy more Bitcoin and most coins will be dead within the year I predict. However I think there is still a future for a few interesting alts like Myriadcoin or Vertcoin for instance, and I plan to hold them for a rise in price. However if I do the math, if 1 Bitcoin alone were to skyrocket to say, 10k or even 100k, for the price of 1 Bitcoin now I stand to make more just investing in just one BTC than say 50,000 Myriadcoins if the market cap for these alts don't rise naturally with BTC. So which is the better buy in your opinion, Bitcoin, or if some alts DO survive will they naturally skyrocket WITH Bitcoin?
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bassclef
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March 12, 2014, 01:15:02 AM |
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Some will, most won't. Traders will put money into BTC if it's shooting up, taking money out of the alt market.
I closed out my DOGE position completely over a week ago--the massive double top looked a little too ominous for my liking.
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Bit_Happy
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March 12, 2014, 02:43:52 AM |
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Well alt/USD will obviously go up for almost all.
alt/BTC used to go down on BTC rallies, but Dec was a massive move for BTC and even more so for the alts.
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Tirapon
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March 12, 2014, 03:52:52 AM |
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Litecoin will follow it as if connected with a bungee chord.
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msc
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March 12, 2014, 03:57:37 AM |
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Traders will put money into BTC if it's shooting up, taking money out of the alt market. Litecoin will follow it as if connected with a bungee chord. Both of these. Some people will want more BTC if it's rising faster. But some people will want alts if they think BTC is too expensive. |
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chriswilmer
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March 12, 2014, 04:09:19 AM |
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Litecoin will follow it as if connected with a bungee chord.
+1 It's very counter intuitive until you've seen it happen a couple of times. I think what happens is that BTC holders suddenly feel very wealthy and begin to "diversify" into riskier assets... so you see surprising price rises in strange things following a Bitcoin bubble (but before the Bitcoin bubble bursts). |
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derpinheimer
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March 12, 2014, 04:20:20 AM |
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Odd as it is, altcoins seem to work in a hyper-reactive cycle with bitcoin.
By that I mean, if bitcoin goes up, the rate of altcoin/BTC also increases, on average.
As we have seen from the crash earlier this year, many altcoins have lost values near 90%, and just about all at least 50%. This is no coincidence. When Mr. Whale bought it up to $700? A lot of alts also went up.
So, say someone owned 1000 CrapCoin, at .01BTC ea.
Bitcoin drops 30%. They are now 30% less wealthy. But, CrapCoin will drop to maybe 0.003BTC ea... so, now they are 80% less wealthy.
I really dont understand why though. It seems like its suicide to work in such a fashion.
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Bit_Happy
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March 12, 2014, 04:40:15 AM |
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Odd as it is, altcoins seem to work in a hyper-reactive cycle with bitcoin.
By that I mean, if bitcoin goes up, the rate of altcoin/BTC also increases, on average.
....
On average, that only started in Dec (not before) and continued into Jan, but lately has changed and alt's are in a "horrible" slide. |
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derpinheimer
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March 12, 2014, 05:07:12 AM |
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Odd as it is, altcoins seem to work in a hyper-reactive cycle with bitcoin.
By that I mean, if bitcoin goes up, the rate of altcoin/BTC also increases, on average.
....
On average, that only started in Dec (not before) and continued into Jan, but lately has changed and alt's are in a "horrible" slide. Ah, I see. Thats about as long as I've been paying any attention to them. Gotta wonder what the people behind these swings are thinking. |
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Bit_Happy
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March 12, 2014, 05:18:07 AM |
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Odd as it is, altcoins seem to work in a hyper-reactive cycle with bitcoin.
By that I mean, if bitcoin goes up, the rate of altcoin/BTC also increases, on average.
....
On average, that only started in Dec (not before) and continued into Jan, but lately has changed and alt's are in a "horrible" slide. Ah, I see. Thats about as long as I've been paying any attention to them. Gotta wonder what the people behind these swings are thinking. Dec was unique since so much new money was flooding in. Cash into >> BTC .....buyers see alt's going crazy >>> Buy more alts Also Cryptsy "only" had ~100 markets then, now it's over-done and looking a bit ugly. ps. This is possibly a great time to buy some alts, since they are down ~90% |
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bubble_bobble
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March 12, 2014, 05:33:50 AM |
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you can bet that somebody knows the answer to this question and has a system for taking advantage of these things, but they sure aren't sharing it.
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Tirapon
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March 12, 2014, 09:06:55 AM |
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you can bet that somebody knows the answer to this question and has a system for taking advantage of these things, but they sure aren't sharing it.
I just did. |
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TERA
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March 12, 2014, 09:13:07 AM |
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it depends if alts are added to new exchanges. the last bubble was caused by China and the alts were added to Chinese exchanges too which is why they rallied along with Bitcoin. The next btc bubble is likely to be caused by exchanges opening in New York. The new exchanges will probably take volume away from btc-e which has already lost a lot of its trust and volume recently due to the cyprus/russia events. If btc-e and the existing alt exchanges are still the only exchanges trading alts and they aren't added to the New York exchanges then alts vs btc will likely drop.
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El Dude
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March 12, 2014, 11:13:50 AM |
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Litecoin will follow it as if connected with a bungee chord.
this |
Bitcoin and Litecoin hodler
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saddambitcoin
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March 12, 2014, 12:45:18 PM |
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Demand for altcoins drops when BTC approaches a new ATH. Everyone will have all their funds in BTC when they see it going up. When the next bubble is fully underway and BTC mania hits...then altcoins will follow. It happened twice last year.
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btc4ever
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March 12, 2014, 12:57:21 PM |
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and percentage wise many of the alts rose more spectacularly than bitcoin did, especially those that were only priced in LTC. I view the alts as a riskier and more leveraged investment than BTC.
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solid12345 (OP)
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March 12, 2014, 01:34:49 PM |
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and percentage wise many of the alts rose more spectacularly than bitcoin did, especially those that were only priced in LTC. I view the alts as a riskier and more leveraged investment than BTC.
My theory is alts have a future just in speculative value alone, the real crypto gold rush has really begun now, a lot of people including myself feel like we missed the Bitcoin train somewhat and now that it's gone more mainstream we are searching for something that could replicate at least a quarter of it's success. While most alts are junk and will die I think a few will survive and blossom just for this reason alone. |
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bgmc
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March 13, 2014, 04:06:09 PM |
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but for now, the alts are all tied to btc. If btc goes up, alt goes up.
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hellscabane
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March 13, 2014, 06:16:11 PM |
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Intuitively, it may make sense that if BTC goes up then alts must follow, but during the amount of time I've watched alt-currencies and BTC, I rarely see that trend follow directly.
Most of the time, I notice that there is a delay in the market caps when tied to fiat of the alt-coins tied to BTC (usually a delay that is proportional to the amount of time that there is a spike). In terms of alts-BTC, I have usually seen an alt's price first drop before having a surge that leads to an over correction and then afterwards dropping again to a different floor.
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