What drives the market of Altcoins?

[Bojango]

Hello all,

I am glad to find a dedicated part of bct where speculative discussion is allowed. I have more of a question rather than a speculation on price.

In your opinion:

What drives the success or the downfall of an altcoin?

Does utility of the coin or token play a factor or is it more about market conditions?

look forward to reading replies 

[Charles-Tim]

Bitcoin drives their success because if it is rising, they will rise. Especially during the bull run, they all follow bitcoin price but they may rise more than bitcoin before becoming a shit coin.

They fall because they are useless but people just want to pump and dump them. The ones that are sre useful, most of them are not getting to all-time high.

If bitcoin is falling in price like during bear market, the altcoins will fall more also to continue the fall.

[hostm]

What drives the success or the downfall of an altcoin?

Bitcoin has always been the growth driver for any popular altcoin. For example, people invested their Bitcoin in Ethereum during the ICO.

Therefore, Ethereum was much more profitable than Bitcoin from 2015 to 2021. There was real hysteria around Ethereum on crypto forums.

But from 2022 to the present, altcoin creators have been taking Bitcoin away from ordinary users.

Don't give them Bitcoin. Exchange all altcoins for Bitcoin and withdraw Bitcoin to cold wallets. That's how we will win.