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Author Topic: One interesting thing about Bitcoin that will shock you!  (Read 404 times)
Carlonsins
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July 26, 2019, 12:00:13 PM
 #1

I was recently reading Bitcoin’s price analysis between 2017 and 2019 in this investing blog: https://www.investing.com/analysis/bitcoin-analysis-2017-vs-2019-200444573

 One interesting thing that I came to know is that the price of many altcoins also increased at the same time when the price of bitcoin increased in late 2017. However, the same was not repeated during the recent hike of Bitcoin in 2019, means the price of other coins did not increase.

 Also, there was the mention of some coins with real value, which is supposed to gain value in the coming future. What’s your take on it?
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July 26, 2019, 12:05:47 PM
 #2

On 2017, the momentum gained at the end of that year whilst for this year we're on the half and there can be a lot of things to happen. And that connection of alts and bitcoin has been attached to the mind of the crypto people.

We are all waiting for the highlight for altcoins but it looks like majority who are expecting it are disappointed. It's prolly because altcoins didn't performed that much and everyone has big expectation although we've seen them pump since the beginning of 2019.

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July 26, 2019, 12:16:33 PM
 #3

On 2017, the momentum gained at the end of that year whilst for this year we're on the half and there can be a lot of things to happen. And that connection of alts and bitcoin has been attached to the mind of the crypto people.

We are all waiting for the highlight for altcoins but it looks like majority who are expecting it are disappointed. It's prolly because altcoins didn't performed that much and everyone has big expectation although we've seen them pump since the beginning of 2019.

Yes, we are waiting!
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July 26, 2019, 01:43:13 PM
 #4

Its possible but need 2 conditions.first, marketcap has to increase and second one, half of those money need to goes to altcoins so btc and alts move up together.

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July 26, 2019, 02:10:50 PM
 #5

I was recently reading Bitcoin’s price analysis between 2017 and 2019 in this investing blog: https://www.investing.com/analysis/bitcoin-analysis-2017-vs-2019-200444573

 One interesting thing that I came to know is that the price of many altcoins also increased at the same time when the price of bitcoin increased in late 2017. However, the same was not repeated during the recent hike of Bitcoin in 2019, means the price of other coins did not increase.

 Also, there was the mention of some coins with real value, which is supposed to gain value in the coming future. What’s your take on it?

IMO
Whole market is a manipulated side show.

Those same pozers that manipulated it low and then sky pumped it , in 2017 ,
are the same ones artificially keeping most altcoins low thru sophisticated and manipulative trading techniques designed to dishearten altcoins investors by repeating crushing the price lower. By doing this over and over they weaken and will destroy most altcoin communities.

Altcoins that have too high an inflation rate will be devastated by these tactics, and the pozers are culling as many alts as possible.

In 2 years the altcoin market will be a lot smaller. Less than 300 in all expectations.
But the remaining ones will be much more stable and dominant than they are today, and more of a threat to BTC #1 market position.  Wink
  

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July 26, 2019, 02:37:54 PM
 #6

I was recently reading Bitcoin’s price analysis between 2017 and 2019 in this investing blog: https://www.investing.com/analysis/bitcoin-analysis-2017-vs-2019-200444573

 One interesting thing that I came to know is that the price of many altcoins also increased at the same time when the price of bitcoin increased in late 2017. However, the same was not repeated during the recent hike of Bitcoin in 2019, means the price of other coins did not increase.

 Also, there was the mention of some coins with real value, which is supposed to gain value in the coming future. What’s your take on it?
What do you find so interesting about it ?
Everybody here with the experience of a few years knows that bitcoin and altcoins grow in price irrespective of each other's growth.
Ofcourse you might notice a little relation in terms of growth in the price of bitcoin and altcoins but that's just because bitcoin is paired with most of the coins.
Cryptocurrencies work on demand and supply and most of the times increase/decrease irrespective of each other.



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July 26, 2019, 02:47:43 PM
 #7

I was recently reading Bitcoin’s price analysis between 2017 and 2019 in this investing blog: https://www.investing.com/analysis/bitcoin-analysis-2017-vs-2019-200444573

 One interesting thing that I came to know is that the price of many altcoins also increased at the same time when the price of bitcoin increased in late 2017. However, the same was not repeated during the recent hike of Bitcoin in 2019, means the price of other coins did not increase.

 Also, there was the mention of some coins with real value, which is supposed to gain value in the coming future. What’s your take on it?

IMO
Whole market is a manipulated side show.

The cryptocurrency market, just like any other market, is under the manipulation of the whales. It is offered to the public without any regulation at all. That is why it is very much susceptible to it. There were several instances in the past in which pumps seemed to take place without any strong reason. These were clearly the effects of the decisions of the whales. However, in the late 2017 and early 2018, I do not believe that it was only due to the whales' manipulation. The total market capitalization almost touched $800,000,000,000. That is a staggering amount that cannot easily be caused by whales, who are few. I am certain the whales could not cause a massive leap from tens of billions to hundreds of billions on their own. There was really massive buying from everyone and everywhere, from the general public, oversold as others would see it.

Quote
In 2 years the altcoin market will be a lot smaller. Less than 300 in all expectations.
But the remaining ones will be much more stable and dominant than they are today, and more of a threat to BTC #1 market position.  Wink

If this is what it takes for the cryptocurrency universe to be cleansed of useless altcoins, this is a blessing.

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July 26, 2019, 02:56:44 PM
 #8

Few things might be contributing to this.
One especially, is that the year 2017 was the year, Bitcoin reached it first real price, which is why so many altcoins increased. So there are chances altcoins prices will increase when Bitcoin cross the price it was in the year 2017.

In the long run, few altcoins with réal values will make the lead. Major increase will come from coins like Ethereum, Ripple, Stellar, Litecoin and few more.

 

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July 26, 2019, 03:06:46 PM
 #9

The growth of altcoins this year is very different from 2017 even though bitcoin experienced a significant increase, the altcoin growth impacted only a few percents after bitcoin increased from $ 6k to $ 10k

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July 26, 2019, 03:09:24 PM
 #10

So shocking...
I bet you will be even more shocked about same thing in 2 years from now, buying random "real utility coins" that have no real utility, nor adoption, beside folks like you.

Buy Bitcoin, don't get shocked.

My negative trust comes from gmaxwell and Lauda, it was given to me for spreading the word about Bitcoin SV. Do your due diligence before making conclusions.
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July 26, 2019, 03:17:46 PM
 #11

I think altcoin season not yet to come,maybe next year. Don't loss hope,every year the movement of crypto currency are not the same. If bitcoin rise it's value now ,let's hope that next year well be the year of altcoins. Dissappointed,yes....but we have nothing to do about the current market. All we can do for now is to wait but sadly most of my altcoins has no value even a little. Sad

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July 26, 2019, 08:47:04 PM
 #12

Everyone and their mothers are so hyped in 2017 that made almost every alt rise. Not to mention that it's also the ICO boom wherein a huge influx of money was directed over to the altcoin market until its collapse on December 2017. This year, people learned that ICOs are, for the most part, scams and most governments of the world implemented some regulations to ensure that 2017 scenarios for ICOs would not happen again since a lot of it turned out to be scams. People right now are just focusing on bitcoin since its the closest they can get to easy profits without having the need to go through hoops and not get scammed along the way, hence why bitcoin only rises on most of the time and altcoins tend to stay stagnant.




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July 27, 2019, 02:57:54 AM
 #13

One interesting thing that I came to know is that the price of many altcoins also increased at the same time when the price of bitcoin increased in late 2017. However, the same was not repeated during the recent hike of Bitcoin in 2019, means the price of other coins did not increase.

 Also, there was the mention of some coins with real value, which is supposed to gain value in the coming future. What’s your take on it?

in 2017 when selling btc. many day traders then buy an altcoin to then arbitrage to another exchange(avoid wire transfer delays) to then buy btc at a cheaper rate from the other exchange to then sell at a higher price elsewhere again and again.
arbitrage happens alot

in 2019 there are many $ 'stable coins' and so buying an altcoin is no longer needed, thus altcoins dont get bought as much when trying to arbitrage around exchanges.
in 2019 some big players have more access to hidden otc/reserve swap facilities that some exchanges only offer to select investors, so again less need to mess with altcoins when moving between exchanges

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July 27, 2019, 04:49:57 AM
 #14

Well, this isn't 2017, where simple news can hype a coin and skyrocket its price.  Investors, due to several cases of scams and losses, are wiser now.  They are not greatly moved by the hype created by exchange listing, shillings and sometimes even an update on the development.  It seems the market had matured in terms of people investing in altcoin and another thing is the case explained by franky1.

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July 27, 2019, 05:04:08 AM
 #15

Investors, due to several cases of scams and losses, are wiser now.  They are not greatly moved by the hype created by exchange listing, shillings and sometimes even an update on the development.  It seems the market had matured in terms of people investing in altcoin and another thing is the case explained by franky1.

I do think this is also the case. However, looking at Telegram ICO groups, it seems there is still a lot of small fish who're looking for hype and trying so hard to push the team to list on a new exchange, get on Binance and so on. They never, ever trying to understand what the project is about and where do the values of the token comes from.

To put it simply, the market overall has become wiser (or maybe in disbelief). But some will always be a hype follower.




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July 27, 2019, 05:19:50 AM
 #16

first of all what you are saying here has nothing to do with bitcoin, you are talking about altcoins and their pumps.

secondly you are partly wrong.
there are two ways to look at altcoin prices. the USD price of them and the real price of them in BTC. the USD price always rises whenever bitcoin price rises because altcoins are being traded with bitcoin and all they have to do is to stay the same price when bitcoin is rising to have their USD price rise! but that is not a real rise. in 2017 main part of the rise was the 2100% bitcoin price rise that showed some fake altcoin rises.
the other part is that whenever bitcoin is rising this much and attracts thousands of newcomers, many of them go into altcoins because they are not familiar with the market enough to know the advertisement they see is fake. so the altcoins see a lot of pumps during those times. which is why this year we didn't see that much pump because bitcoin is not yet getting that large number of newcomers compared to 2017 yet.

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July 27, 2019, 07:19:30 AM
 #17

I reckon it depends on what Crypto currency are being pumped and manipulated. In 2017 there was a lot of ICOs with their own Alt coins being pumped by profits that was generated from a Bitcoin pump. Then large social media companies started to "ban" Crypto currency related advertising and everything on the Alt coin side and even Bitcoin took a big hit.  Angry

Now, ICO's related advertising is still restricted and controlled and Bitcoin is being pumped again, so that explains the Bitcoin price increasing and not a lot of Alt coins.  Wink

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July 27, 2019, 07:33:08 AM
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 #18

OP is basically saying, that Altcoins can either go up or down, when Bitcoin raises.  Roll Eyes
If this is 'shocking' for the OP, imagine what happens with his brain, when he realises that Bitcoin has a limited supply or that every transaction is visible for everyone.

Bitcoin is not a bubble, it's the pin!
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July 27, 2019, 08:10:41 AM
 #19

I think the altcoin bubble will probably not happen again. Bitcoin is indeed a decentralized coin, but thousands of other coins could not convince large investors to invest in their projects.

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July 27, 2019, 09:27:05 AM
 #20

2017 was a crazy year for cryptocurrency market. Even shitcoins did wonders, we had lending coins and all HYIP projects that would later send investors to hell. This year, bitcoin bull run has not been matched by altcoins as we saw in 2017, this 2019, we see more persons been more attracted to the bitcoin judging from bitcoin market dominance, people are scared of been burnt in trading altcoin  and not to miss out of bitcoin profit, they trade the bitcoin more.

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