Money flowing out of BTC into Altcoins

[KaliLinux]

Now the money is gone because of the continuing fud of Elon Musk, then China is banning the BTC again, it's like an annual news routine that will always be there to raise and lower the market, you have to be patient and be prepared if something like this happens again.

You are right and since we understand that these things happen and have happened before and even after that, Bitcoin was able to rally back up to a new ATH, then this is just another one of such hurdles that Bitcoin crosses every once in a while. China have always made such pronouncements since back in 2017 and Bitcoin still hodls and will again.

[dongyi17]

Well it's hard to tell to make a huge profit by converting your BTC into Altcoins, because we all know that bitcoin still has it edge over altcoin but then we cannot also under estimate the potential of any altcoin to make great, given a chance they can too. why not keep them together if you have both, hodl and then see and wait for the coming days and years who make the profit the most then trade it or sell it that way you're safe and your profit is secure.

[m.rifki]

it is true, before entering the alt season, bitcoin must go down first, taking a break from domination in crypto. If bitcoin doesn't go down it will be difficult to realize the alt season because of its strong dominance, it will have to go down and stay at its lowest point for some time.

[Sanitough]

it is true, before entering the alt season, bitcoin must go down first, taking a break from domination in crypto. If bitcoin doesn't go down it will be difficult to realize the alt season because of its strong dominance, it will have to go down and stay at its lowest point for some time.

What I saw is that when bitcoin go down, altcoins will also go down, that's what we called market panic where every altcoins are affected by the bad performance of bitcoin. Just recently, bitcoin dump at $30k, did you see what happened to the altcoins market, they also dump, and bigger dump compared to bitcoin.

What made altcoins bullish is when bitcoin is stable and it's not so volatile.

Let's observe the market now, bitcoin seem to be recovering let's see if altcoins will follow.
BTW, after the dump, BTC dominance has increased to 43%.

[ven7net]

I'm just wondering whether BTC has hit it's peak for this cycle.  It's been trading sidesways 55k-60k for the last 2 months
while altcoins have rallied.  From historical perspective, for those were in it in 2017, did bitcoin ever regain it's dominance after
altcoin season began.  I guess what i'm asking is whether I should liquidate my bitcoin position and chase altcoins or whether
there is more room for BTC to go this year.

I believe that this year the growth of BTC is due to the fact that 2021 is the last year in the next cycle of the crypto market development. From this it turns out that 2021 should be similar to 2017, which means that the main growth for BTC and other cryptocurrencies will be at the end of the year. This is to deprive all of the assumption and certainly no one can know anything 100%, therefore all the actions that you take are in one way or another risk.

[Maslate]

~snip~

 it's just that we don't know exactly when it will happen,

Exactly, no one knows even Elon when bitcoin will rise or fall, whales who manipulate the market would likely know but if people will not follow, they might still fail. It needs coordinated manipulation in order to succeed on a large scale.

if you are holding bitcoin so don't exchange it for altcoins because all altcoin price movements follow bitcoin prices

It's also good to invest in altcoins, they grow together with bitcoin, and as you said they follow.

just like BNB and ETH, they are more profitable than bitcoin in terms of growth this bull season I believe.

[SacriFries11]

Now the money is gone because of the continuing fud of Elon Musk, then China is banning the BTC again, it's like an annual news routine that will always be there to raise and lower the market, you have to be patient and be prepared if something like this happens again.

Yes, I think China really have intension to release statements like that yearly in order for dump the price of BTC then rich people able to buy again at the dip. I think the dump event is finished and now we must embrace the next step toward the last pace of altcoin season before we have back again to bear market. I still believe altcoin season will continue until early next year. Not all dump are bad, in fact it's a great opportunity for us to buy again and wait for another all time highs.

[Golftech]

Well it's hard to tell to make a huge profit by converting your BTC into Altcoins, because we all know that bitcoin still has it edge over altcoin but then we cannot also under estimate the potential of any altcoin to make great, given a chance they can too. why not keep them together if you have both, hodl and then see and wait for the coming days and years who make the profit the most then trade it or sell it that way you're safe and your profit is secure.

Words are very nice, but it's always hard when you run it, you need to know that everyone's condition is different, in general what you say is good, but it only applies to those who have extra money or unused money so they will it is more relaxed and easy to be patient for the sake of profit, but for those who just want to find daily profit, this thing you reveal will absolutely not apply to them.

yes, there are different overview about  this strategy. It will beneficial to people who have enough spare

and capable to buy and hold, while those people  who are here for short-term trades, they can't continue working

in this types of scenarios, they are aiming for daily profits so it will be very risky to continue.

[Dump3er]

It looks like that money isn't flowing out of Bitcoin into altcoins anymore. I see that Bitcoin's dominance has started to increase again (BTC: 43.4%, ETH: 17.7%). Altcoins also have fallen a lot after the recent news.

Yes, and things will improve again after the latest news as well, all of this looks like a game which may not benefit everyone, but everyone has to accept the reality that is happening in the market.

Right now a lot of money is leaving the crypto market. It is not going from Bitcoin into alt coins. The market shrieked a lot over the last couple of days and I believe it will take quite some time to recover. Everyone seems to be more careful now. Th enthusiasm of the last months is gonna for now.

[TWW]

It looks like that money isn't flowing out of Bitcoin into altcoins anymore. I see that Bitcoin's dominance has started to increase again (BTC: 43.4%, ETH: 17.7%). Altcoins also have fallen a lot after the recent news.

Yes, and things will improve again after the latest news as well, all of this looks like a game which may not benefit everyone, but everyone has to accept the reality that is happening in the market.

Right now a lot of money is leaving the crypto market. It is not going from Bitcoin into alt coins. The market shrieked a lot over the last couple of days and I believe it will take quite some time to recover. Everyone seems to be more careful now. Th enthusiasm of the last months is gonna for now.

That's because some of those who came out experienced bad situations in 2018 when bitcoin fell too deep and made people expect that it had to endure too long until the current situation ended. everything has been a lesson, and many of us will not repeat the situation that has occurred.
either exiting the market or switching to altcoins, currently, the situation is clearly panicking many people to secure their money.

[budlo]

It looks like that money isn't flowing out of Bitcoin into altcoins anymore. I see that Bitcoin's dominance has started to increase again (BTC: 43.4%, ETH: 17.7%). Altcoins also have fallen a lot after the recent news.

Yes, and things will improve again after the latest news as well, all of this looks like a game which may not benefit everyone, but everyone has to accept the reality that is happening in the market.

Right now a lot of money is leaving the crypto market. It is not going from Bitcoin into alt coins. The market shrieked a lot over the last couple of days and I believe it will take quite some time to recover. Everyone seems to be more careful now. Th enthusiasm of the last months is gonna for now.

Let's see how the situation will develop further, but so far there is little optimism in the market. Such an incredible panic sale of bitcoin cannot be quickly restored, it takes time. But the situation is definitely not 2018, then there was no such huge stablecoin market, so there will not be the same overflow to the viola.

[radjie]

Now the money is gone because of the continuing fud of Elon Musk, then China is banning the BTC again, it's like an annual news routine that will always be there to raise and lower the market, you have to be patient and be prepared if something like this happens again.

Yes, I think China really have intension to release statements like that yearly in order for dump the price of BTC then rich people able to buy again at the dip. I think the dump event is finished and now we must embrace the next step toward the last pace of altcoin season before we have back again to bear market. I still believe altcoin season will continue until early next year. Not all dump are bad, in fact it's a great opportunity for us to buy again and wait for another all time highs.

For some people, the current dump is an opportunity to make purchases in order to increase their investment assets.  but for day traders, the Dump that occurs cannot provide them with a profit, therefore many day traders switch to holding rather than trading every day.

[odukoyaewatomi27]

The usual practice is that once bitcoin dominance reduces, altcoins prices will surge. The money flowing out of bitcoin will be entering into all the altcoins. But this bull market is different, after bitcoin dominance reduced, the price of both bitcoin and altcoins dumped. I don't know why this happened.

[flagpara]

I'm just wondering whether BTC has hit it's peak for this cycle.  It's been trading sidesways 55k-60k for the last 2 months
while altcoins have rallied.  From historical perspective, for those were in it in 2017, did bitcoin ever regain it's dominance after
altcoin season began.  I guess what i'm asking is whether I should liquidate my bitcoin position and chase altcoins or whether
there is more room for BTC to go this year.

You think, money flowing out from bitcoin to altcoins then will return to bitcoin! Total marketcap history isn't the same as you think. Now a total of 1.10 trillion marketcap is gone, I don't know from where this money came and gone. Bitcoin was stuck for two months. Maybe Bitcoin could be here for a few months. Some investors took profit, some will take from the next cycle.

[budlo]

With the arrival of stablecoins on the market, the situation has changed dramatically compared to 2017. After the fall of bitcoin, altcoins continued to grow, because all the capital was transferred directly into them. And now, almost everything is against the dollar, so altcoins also fell very strongly.

[kenelmark]

I'm just wondering whether BTC has hit it's peak for this cycle.  It's been trading sidesways 55k-60k for the last 2 months
while altcoins have rallied.  From historical perspective, for those were in it in 2017, did bitcoin ever regain it's dominance after
altcoin season began.  I guess what i'm asking is whether I should liquidate my bitcoin position and chase altcoins or whether
there is more room for BTC to go this year.

There has not been in history the price of Alt rising without being started by Bitcoin. YFI tried to do this, but it did not hold up well. What does it mean? The biggest opportunity is in Bitcoin.

[budlo]

Bitcoin has been and remains the main engine of the crypto market. Everything is somehow connected with the news background around the main cryptocurrency and it is unlikely that something can change in the near future.

[forexandcryptoauditor]

Yes, I would say so. There are two reasons. First reason is, bitcoin dominance. It's was decreased to around 48 percent. Second reason is that the investment growth. Parts say btc have 5x or 6x since couple of months. However, few actions have more than 50x. Even if we look at eth, it gave around 20x returns. Having said so, the bill train was due to btc only.

[iTradeChips]

Bitcoin has been and remains the main engine of the crypto market. Everything is somehow connected with the news background around the main cryptocurrency and it is unlikely that something can change in the near future.

True, Bitcoin has remained to be the number one cryptocurrency even though it fell a big percent since start of May. Right now, people still prefer to buy Bitcoin, and from the looks of it Bitcoin might stay at the 38 to 40 price as its normal price now, compared to what the price was in 2020. But many are also speculating that Bitcoin might fall further into the 20,000 dollar range and in case that happens, I do hope that it will stay there and all of us will simply wait for another ATH.

[budlo]

There is still no Bitcoin reversal pattern to be seen. Important resistance levels remain unbreakable. There is practically no reaction to the positive news, with the exception of El Salvador. And the reaction to negative news is strong, so the price for 26-28k looks quite real.