Are Altcoins ruining the price of Bitcoin?

[coinking]

I pose the questions; are altcoins suppressing the price of bitcoin?

After some chart analysis I have speculated the price of Bitcoin to decline (in the coming months). Alt coins have a direct effect on the price of btc.. but just how much?

It's clear to see btc, along with many, many other alt coins are in bearish down trends at the moment.

We may see dips anywhere from $100-220 per btc and those prices could still be months away. After that we could see a rise of up to $1200 (more likely $1000-1100) -- still could be the later part of 2015

It's no secret that the price of say ltc and btc are intertwined but what about the potential of multiple alt coins affecting the price of btc? I say that if two are linked than 500 could be linked.

This returns me to my original question - is the fact that there are so many alt coins naturally pushing down the price by spreading out the market to a point where it's become so saturated that it's becoming increasingly different for many market caps to grow?

Again, this is strictly speculation and I'm not an expert chart reader - just a religious crypto freak following the charts for the last year - so if you disagree or have an opinion to share, please do so but don't be a dink - if you have to fud there's a thousand shitcoin threads to disrupt.

[CryptoHeaven]

Are you blind? Go to coinmarketcap.com and see what is the total crytpo volume. BTC and LTC compromise more than 95% of the daily volume. Alts are nothing, compared to the Big 2.

[kingscrown]

imo its scammers dropping coins making BTC down not alts.

[fewcoins]

Are you blind? Go to coinmarketcap.com and see what is the total crytpo volume. BTC and LTC compromise more than 95% of the daily volume. Alts are nothing, compared to the Big 2.

LTC belongs with all that other alt trash too... If we can"t come together and get bitcoin to succeed then nothing will!

[piramida]

This returns me to my original question - is the fact that there are so many alt coins naturally pushing down the price by spreading out the market to a point where it's become so saturated that it's becoming increasingly different for many market caps to grow?

No, it's not. Investors, read people with money, are not certain bitcoin is a safe enough investment, much less any hobbycoin. Their market cap is negligent, their trust rating is near zero, their value is mostly in marketing, nobody is buying them but poor people and large bitcoin holders "diversifying" their holdings, you can safely ignore them as I'd guess they don't take much more than 1% of the fiat investments, i.e. noise.

[zetaray]

Most alts are quick pump and dump coins. They can't ruin the price of anything except themselves. Bitcoin has market cap, active users and merchant acceptance alts can only dream of.

[CUNÉGONDE]

This is the cart before the horse, it should bitcoin run other coins.

[Keyara]

Are you blind? Go to coinmarketcap.com and see what is the total crytpo volume. BTC and LTC compromise more than 95% of the daily volume. Alts are nothing, compared to the Big 2.

Some pre-IPO coin like Ethereum isn't listed on the coinmarketcap yet. Who know how large the market cap be when it launches.

[MF Doom]

yes they are, but btc was propped up only by manipulation from mt gox in the first place!

[ElectricMucus]

imo its scammers dropping coins making BTC down not alts.

There are no scammers in Bitcoin by definition, just free market businesses.

[V500]

it's the exact other way around. Bitcoin is ruining the price of the alts  


between us: 3600 new coins a day is a bit hefty and increasingly centralised mining increases the dumps which in turn increases centralisation of mining. Just forget it and wait for the halving.

[ClownHunter]

imo its scammers dropping coins making BTC down not alts.

There are no scammers in Bitcoin by definition, just free market businesses.

I just dont understand why people don't get this. They really should be happy that they are taking part in a free market free of any meaningful regulation. There are no barriers to entry for anyone who wants to open an exchange, create their own currency, trade currencies, develop useful software. The possibilities are endless

And since you need to first buy some bitcoin before you can trade any alt, I think altcoins are helping to prop up the price of bitcoin. Altcoins are a very important piece of this ecosystem

[DieJohnny]

Are you blind? Go to coinmarketcap.com and see what is the total crytpo volume. BTC and LTC compromise more than 95% of the daily volume. Alts are nothing, compared to the Big 2.

LTC is an Alt, the OP is completely right there is absolutely no doubt BTC would be worth more if no alt existed. The total money going into Alts is more than their market cap as millions are spent in investments/ASICs, development hours!, and startups.

Could Alts delay or even prevent another BTC bubble, possibly yes, but then you better keep an eye out because there will be a gorilla. I still think it is Bitcoin, Alts are just a distraction with a benefit, which is to prove out important technologies that Bitcoin needs to adopt. I think Bitcoin can adapt to pressures of other coins if the pressure is high enough. So far the pressure hasn't been enough.

Why add speed if the best speed can get you is Litecoin, why add anonymity if the best anonymity can get you is DarkCoin, et cetera...

[kanggoroo]

90% of altcoin is only scamcoins , and still lot of dumb people who believe to invest money on altcoins.
that why everyday we always see new shity coins born in this world

[smalltimer]

Are you blind? Go to coinmarketcap.com and see what is the total crytpo volume. BTC and LTC compromise more than 95% of the daily volume. Alts are nothing, compared to the Big 2.

LTC is an Alt, the OP is completely right there is absolutely no doubt BTC would be worth more if no alt existed. The total money going into Alts is more than their market cap as millions are spent in investments/ASICs, development hours!, and startups.

Could Alts delay or even prevent another BTC bubble, possibly yes, but then you better keep an eye out because there will be a gorilla. I still think it is Bitcoin, Alts are just a distraction with a benefit, which is to prove out important technologies that Bitcoin needs to adopt. I think Bitcoin can adapt to pressures of other coins if the pressure is high enough. So far the pressure hasn't been enough.

Why add speed if the best speed can get you is Litecoin, why add anonymity if the best anonymity can get you is DarkCoin, et cetera...

if there were no alts bitcoin would be preceived as fascist and people would still not buy it because they would not be presented with a choice. Altcoins legitimise bitcoins existance. If bitcoin can't compete with the alts it has failed. Altcoins are healthy for bitcoin. Without alts this whole shitfest would be of no interest and would meet serious resistance.

[o_o]

I don't think so. Bitcoin represent 90% of cryptocurrencies economy, and the other 10% is represented by the alt-coin. But this alt-coin, in most case, are only scamcoin. So, Bitcoin can ruining the price of altcoins, and not viceversa.

[asdlolciterquit]

yes they are, but btc was propped up only by manipulation from mt gox in the first place!

no, they aren't!

how can they do something like that? can you prove it?

[3x2]

imo its scammers dropping coins making BTC down not alts.

THIS could be actually true, scammers scam and immediately dump BTC.

[Supercrypt]

i think altcoin ICO are ruining bitcoin price
scammer sell stupid coin ICO and get bitcoin
and dump them on exchanges
so say NO to ICOs

[catena5260]

I guess 99% of people in crypto world don't deal or see what is happening in the altcoin world.

The opposite relation for me is more likely