lobo13hf
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March 08, 2021, 10:17:20 PM |
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Why? because when the value of bitcoin rises everyone wants to buy it to earn and therefore try to sell their other altcoins so as there is a greater offer on the market, the value drops
There are two possibilities, The first should be what you have saying but in another side there are some people that put fresh money into the altcoins like this time. When bitcoin goes up and altcoin is also going up. that means people didn't wanna throw their altcoins for bitcoin and they wanna put fresh money rather than sold their alts for bitcoin. There are so many possibilities. I don't even think people will try to exchange their legit alts to the bitcoin.
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Yamifoud
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March 08, 2021, 10:37:09 PM |
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In most cases it will happen especially in regular market situation, that is because people are investing on the most trusted coin in the market and that is bitcoin.
If you have notice the current bull run, at the start it's bitcoin which is pumping hard while altcoins don't follow right away, the first reaction was a dump as investors are going all in bitcoin but as the market is more bullish, slowly investors are putting their money on altcoins and that's what we are seeing now.
Altcoin pumps after Bitcoin did, but when the market dumps, altcoins do first. This means that investors are trusting more on Bitcoin and they can afford to hold it longer than these altcoins. And if we can see if there is a spike on altcoins, most of these are just hypes compare to Bitcoin that we know has sustainable market demand.
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TribalBob
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March 08, 2021, 10:44:41 PM |
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btc up altcoin down something that usually happens in the crypto market, I think, where investors transfer their funds that they have dilatcoin to btc, but thus sometimes there are other factors that make altcoins have low prices, for example their products fail in the market and investors sell all the assets invested in the project are instantaneous so as not to experience much loss
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Mtaiwo
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March 08, 2021, 11:17:40 PM |
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I think there is an inverse relationship between altcoin and bitcoin, because whenever investor stop investing in bitcoin they invest in altcoin which caused increased in altcoin investment vice versal
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Ulven
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March 08, 2021, 11:18:43 PM |
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I think the reason for the decline in alt coin prices is due to the great love that Bitcoin enjoys among most investors. This does not mean the alternative currency is not worth the investment and cannot make a profit!! I think holding the tokens in the long run will bring more profits.
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ElaineGanda
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Futurov
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March 08, 2021, 11:38:58 PM |
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If the bitcoin increase its price value, the more people are investing and trading to it because they are seeing a huge income or profit if they will go with pump of bitcoin. Now, the correlation of btc trend and altcoin trend comes in when the people are trading their altcoins for bitcoin. Since they trade their altcoin to btc, the circulating volume of btc increased while in altcoin is vice versa.
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CR_Anders
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March 09, 2021, 04:01:40 AM |
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Theres a lot more technical analysis and charting with btc now. Much easier nowadays to move in and out of a trade and ride the price when it breaks resistance. When BTC breaks new highs, and it will again, profit takers usually spread some profit arounds in alt coins.
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Xinarae*
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March 09, 2021, 04:28:22 AM |
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When the price of bitcoin increases the demand for investment in this currency is higher than other currencies so traders increase the amount of investment in it so the price of other altcoin decreases however bitcoin is at the top of the list not too low. As the value of these currencies rises so do the prices of other altcoins but traders invest less to reduce their reliability in the market after bitcoin altcoin is a more popular investment. The price is easy to understand and earns a lot of profit.
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rozak
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March 09, 2021, 06:24:41 AM |
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Why? because when the value of bitcoin rises everyone wants to buy it to earn and therefore try to sell their other altcoins so as there is a greater offer on the market, the value drops
It is true when bitcoin PUMP / Dump there will make bitcoin dominance go up high. people tend to use Bitcoin to trade transactions. Meanwhile, when the new Sideways there was an increase in Altcoins and also the dominance of bitcoin fell. not necessarily when an increase in Bitcoin altcoin will follow. in fact some are stable and experiencing price declines. it happened when bitcoin was in an increasing trading dominance. some altcoins must have been released and many are following the bitcoin market instead of choosing altcoins. sometimes it can be side by side in a pump, but what has to happen is bitcoin doesn't really dominate the market by far. it looks like we've seen how the pump-making bitcoins and altcoins like ETH can't keep up with the bitcoin pump either.
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WalkerIVIV
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March 09, 2021, 11:02:18 AM |
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Its easy. Funds are unlimited. What happens is when bitcoin is in a bullish mood, investors sell out their alts to invest in bitcoin, and vice versa. Nobody wants to lose out on a trend
This trend is not happening anymore and when bitcoin is bullish and altcoins are also bullish, please see the current situation on the crypto market and everything turn into the bullish trend when bitcoin is bullish. I think that this time people will not sell their altcoin again to convert it into the bitcoin. Both bitcoin and legit altcoins are the gem.
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Vishnu.Reang
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March 09, 2021, 11:45:04 AM |
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Its easy. Funds are unlimited. What happens is when bitcoin is in a bullish mood, investors sell out their alts to invest in bitcoin, and vice versa. Nobody wants to lose out on a trend
This trend is not happening anymore and when bitcoin is bullish and altcoins are also bullish, please see the current situation on the crypto market and everything turn into the bullish trend when bitcoin is bullish. I think that this time people will not sell their altcoin again to convert it into the bitcoin. Both bitcoin and legit altcoins are the gem. Not entirely true. Only some of the well established altcoins, such as ETH, ADA, LTC and DOT are going up. The vast majority of the altcoins have lost their market share, even if they have increased in US Dollar terms. And let's not forget the fact that the BTC market dominance used to be below 50% level last year. Right now it stands at above 60%. And not only Bitcoin, the stablecoins are also eating in to the share of altcoins.
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jostorres
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March 09, 2021, 01:10:34 PM |
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The problem with Altcoins is the dynamics of the cryptocurrency market today. When Bitcoin rose rapidly, Altcoins fell as capital cycled back to BTC. If BTC goes down, altcoins fall together, putting them in a precarious position.
Basically, the key to the Altseason is the easing of the Bitcoin rally to give the market a chance to grow as that is where aggregate market volume is likely to spread again.
However, December or January 2021 will probably be the Altseason.
A strong sign of the Altseason can also be seen from the ongoing consolidation of the Bitcoin rally in the ETH / BTC pair, where these two cryptos are still the largest in the crypto market so that the sentiment from the technical side can be a strong psychological market reference for the potential Altseason.
The fact that if bitcoin goes up a lot, the btc/alt pair goes down is the main reason, you are right about that, but if we could have bitcoin increase a lot, like how its high right now, and stay there, while money goes into alts, that btc/alt pair will go up, and since bitcoin is already a high price, that altcoin price will increase even more. We have seen many many altcoins that increased in fiat price for example while going down in bitcoin price, why? Because, if bitcoin goes from 10k to 50k and a coin goes from 10 dollars to 20 dollars, that altcoin made 2x profit while still lost in btc/alt pair anyway because btc went up even more. That is why some people stop caring about btc/alt pairs and only care about alt/usd because they want to make fiat profit, and yes bitcoin may have made more, but some of those people wanted to make money no matter how much.
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SnookerGenius
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March 09, 2021, 01:39:13 PM |
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Supply and demand, when people start selling alts they are in turn increasing the demand of Bitcoin and vice versa
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deathcode
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March 09, 2021, 01:46:10 PM |
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Not entirely true. Only some of the well established altcoins, such as ETH, ADA, LTC and DOT are going up. The vast majority of the altcoins have lost their market share, even if they have increased in US Dollar terms. And let's not forget the fact that the BTC market dominance used to be below 50% level last year. Right now it stands at above 60%. And not only Bitcoin, the stablecoins are also eating in to the share of altcoins.
I think currently the trend of market adoption is indeed an increase in bitcoin and stable coins. some altcoins may manage to get the moment but you can say that not all altcoins can follow the dominance of bitcoin. when bitcoin reaches a very high price. of course, it's only natural that the market is more interested in bitcoin and many are selling their altcoins. Likewise, when a correction occurs, some bitcoins will be released for stable coins. but most of the altcoins are already getting pretty good prices and upgrades. especially coins that get updates from project development. they take advantage of market conditions to be able to make local pumps for their assets.
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santiPOGI
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March 09, 2021, 11:44:03 PM |
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I think in my own view on this Bitcoin and altcoins are both connected to one another. Bitcoin also is really into long term holdings while altcoins is good in day trade methods, of course for the people who are not capable to buy Bitcoin in a big amount, altcoins is their only options for them to earn bitcoin in the end. So, they expect when Bitcoin go up in the market the majority of the altcoins are surely dump their price where most of the traders will take an advantage of it to buy then hold a little while and wait when Bitcoin dump its price. And this was happened actually for a couple of years now.
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kak uli
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March 10, 2021, 07:06:45 AM |
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This happens because Bitcoin sucks in volume from the entire cryptocurrency market as it continues to strengthen. This caused the alternative cryptocurrency (altcoin) market to continue to slump, leading to increased selling pressure and low buyer demand.
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Traderbtcc
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March 10, 2021, 09:08:27 PM |
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Hi all,
I don't understand why when the BTC goes up then the ALT goes down?
Can someone explain me why?
Thank you
It's true whenever bitcoin pumps altcoin normally dumps same thing with when bitcoin dumps, I think the real reason is that whenever bitcoin pumps alot of traders/investors don't want to miss out on it so they simply sell their altcoin holdings and buy bitcoin instead, while for the dumping part, I feel whenever bitcoin dumps alot of people(weak hands) become scared and panic sell their altcoin holdings, that's why people say altcoin follow the price movement of bitcoin.
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gwdf1
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March 10, 2021, 09:27:35 PM |
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Over the years, there has been a trend that altcoins are directly dependent on Bitcoin. How Bitcoin behaves so do other cryptocurrencies. Even now you can see that many tokens depend on Bitcoin! Bitcoin takes up a lot of market space. Btc will be the trendsetter of all moods on the crypto market for a long time, therefore, everyone is so interested in its prosperity.
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lobo13hf
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March 10, 2021, 11:39:15 PM |
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Supply and demand, when people start selling alts they are in turn increasing the demand of Bitcoin and vice versa
It's not true at all. That depends on what trend that is happening. it's not all of people were always doing it. Imagine when you are holding BNB and then would you sell your BNB for bitcoin while it has the same potential to go to the same as ethereum? i think that people will always keep what they are thinking as promising coin and that's why it's not always happening.
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someone703
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March 11, 2021, 07:27:42 AM |
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It depends Bitcoin Dominance mate. If Bitcoin Dominance is above 60, Alt coins is difficult to pump. When you want to buy some Alt coins you can see this pattern first:
> BTC.D = Increases, BTC= Increases, ALTS= Decreases. > BTC.D = Increases, BTC= Decreases, ALTS= Decreases Rapidly. > BTC.D = Increases, BTC= Stable, ALTS= Stable. > BTC.D= Decreases, BTC= Increases, ALTS= Increases Rapidly. > BTC.D= Decreases, BTC= Decreases, ALTS= Decreases/Stable > BTC.D= Decreases, BTC= Stable, ALTS= Increases
Yes, this is still the case in this market, it is just a drop in time and rebound soon after. This is seen more and more in recent days, I believe that anyone who has gone through the 2017-2018 market phase will feel this and feel very normal.
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