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.

[asriloni]

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?

It's obviously the market trend. I know utility matters but it's not able to survive from the impact happened due to the market trend. We have plenties of coins with pretty good utilities in the market, yet it's still going down due the the bearish trend happens to Bitcoin.

So, does it make sense if we're saying utilities matter more? No, it's obviously make no sense. Just stick to the fact if crypto is pretty much the same as a stock tech market. So it's always remain speculative following the global trend happens.

Utility is good but the market movement is being determined by trend. When the whole of crypto suffer huge downtrend. It's not even a coin with tens of utilities can survive.

We're talking about the fact here.

[hostm]

Look what's happening. Shitcoins have become very strong. Bitcoin has fallen more than 40% over the past six months. But the shitcoin PIPPIN has risen by 4,000%.

https://dropstab.com/tab/hostm-kh8l6r5ia2

This is happening because influencers on the X network are shilling shitcoins. Stay away from them. Because with Bitcoin, you'll make money one way or another. But with shitcoins, you're guaranteed to lose. The only ones who profit are the influencers and the creators of these pyramid schemes.

[passwordnow]

What drives the success or the downfall of an altcoin?

It all comes from the demand and the liquidity of it. So, if there's a good demand and liquidity of it, that smells success. But if it's the opposite, then that shows the downfall of it.

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

Have it both. The factors that you have said are important things for a project to see how valuable they are. And with the market conditions too, I've seen that bear markets are not an ideal time to launch projects.

[Bojango]

Thank you everyone for your answers thus far, they have been very insightful. 

Another set of question(s) to add to the speculation:

Does an altcoin being a direct bitcoin derivative have more of a chance in the current market versus say an scrypt variant of LTC for example.

Does the software behind it or technology play influence to the market or is it the other way around? Does market cap bring about innovation and push technology in the right direction?

[hostm]

Does the software behind it or technology play influence to the market or is it the other way around?

This is crypto, and only cash injections work here. The fact is that any crypto technology can be copied these days with a good team of programmers.

Trump didn't create anything new for the WLF. He simply copied existing solutions and injected money that he stole from cryptocurrency users with his "official" Trump shitcoin.