Bitcoin and Altcoin prices

[chaoman]

It is the common consensus that if bitcoin rises then altcoins also rise. However since altcoins are mostly priced in btc why would the rise of btc cause altcoins to rise? Wouldn't the lower price of btc cause altcoins to rise in btc price? Why is the opposite the common view?

[username18333]

Generally speaking, if “you’re” interested in “the other,” “you’re” interested in “the one.”

[thejaytiesto]

Generally speaking, if "you're" interested in "the other," "you're" interested in "the one."

This makes sense, but also makes sense that one would withdraw their altcoins for BTC if BTC starts going back up. BTC is the safe haven in the crypto world.

[Amph]

sometime both rise at the same time because they buy btc first before buying altcoin

[DonQuijote]

Bitcoin is "the idea" if the idea fall, all subideas go to hell with them

[findftp]

It is the common consensus that if bitcoin rises then altcoins also rise. However since altcoins are mostly priced in btc why would the rise of btc cause altcoins to rise? Wouldn't the lower price of btc cause altcoins to rise in btc price? Why is the opposite the common view?

Alts rose in the past, but I think they were largely made in an attempt to rip people off of their bitcoin.
LTC was launched at capitulation of bitcoin back in 2011, I think it were the chinese overloards trying to save what was to save -> launch litcoin, make it popular and kill it once there is enough volume so that they can join the bitcoin game.

[Undermood]

Because bitcoin is the leading cryptocurrency! U need to buy bitcoin before buying any altcoins. Bitcoin is accepted by most of the crypto lovers! So it is understandable for them to correlate with each other!

[NUFCrichard]

Because it happened last time. First bitcoin went uop, with alts rising in $ value, but going down in BTC value, then Alts exploded several fold in BTC value and even more in $.
Who knows if it will happen again, but if everyone expects it to happen, it probably will.

[findftp]

Because it happened last time. First bitcoin went uop, with alts rising in $ value, but going down in BTC value, then Alts exploded several fold in BTC value and even more in $.
Who knows if it will happen again, but if everyone expects it to happen, it probably will NOT.

There fixed it.
Usually the opposite happens and only a small minority is able to make a profit. (read, are able to convert them shitcoins to bitcoin before it is too late)

[oblivi]

Because it happened last time. First bitcoin went uop, with alts rising in $ value, but going down in BTC value, then Alts exploded several fold in BTC value and even more in $.
Who knows if it will happen again, but if everyone expects it to happen, it probably will NOT.

There fixed it.
Usually the opposite happens and only a small minority is able to make a profit. (read, are able to convert them shitcoins to bitcoin before it is too late)

Its still not a good idea to have all eggs under the same basket. Ideally you want to spread a bit. Im confident to put a large % of my BTC in stuff like Maidsafe and Monero for future gains that will not get deprecated once BTC goes up as well.

[chaoman]

If the value of btc rises, which should mean the value of doge in relation to btc should fall, why does doge rise along with it.

[username18333]

Generally speaking, if “you’re” interested in “the other,” “you’re” interested in “the one.”

This makes sense, but also makes sense that one would withdraw their altcoins for BTC if BTC starts going back up. BTC is the safe haven in the crypto world.

Were one to do that, it would not be reasonable to claim this one “interested in ‘the other’” (username18333).

[Coinshot]

When BTC rises, it creates a positive sentiment and leads to speculator buying altcoins too in hopes of higher gains. Since they are priced against BTC, the price against BTC rises.

[jdbtracker]

It's all due to the minds that co-ordinate this mess. Economics, it is very much psychological.

My thinking is that any number of these thoughts are running through buyers minds.

should I send it now to my cousin? or wait till the price stabalizes? Could take some time for them to pick it up.

Am I getting fair value for my Bitcoins? should I exchange my Altcoins now?

etc, etc.


BTC to Altcoin will always fluctuate in unpredictable ways.
BTC goes down, Altcoins go up: people have confidence, they're buying as much Altcoins to hedge against a fiat run.
BTC goes up, Altcoins go down: people are buying Bitcoins with an intention to cash out with Altcoins.

I figure the only time it's stable is when there is a balance of all players flowing in and out of the Cryptoeconomy.

but then again like everything, this is just one point of view.

[fullhouse]

because all altcoin are trade through bitcoin
so when bitcoin's price rise , they also rise

[botany]

Inflation of altcoins is also a factor which could affect their price.
Some alts have lower inflation than bitcoin, which could mean lower coins available for sale.

[manselr]

Altcoins never go up except 5 or 6 legitimate projects, the rest unfortunately are pump and dump schemes.

[crazyearner]

Soon enough their will be one coin that will come out that will over take and sir pas Bitcoin its is only a matter of time before this happens. BTC is well beining to get publicity and many using it so theirs plenty of room for them to use other crypto in the future that BTC does not have and another alt coin may have giving mcuh more secure features payment methods options and then some.

[grendel25]

There are all sorts of indirect assocations between various currencies.  Can you imagine if/when LTC gets accepted at merchants like Ostock, newegg, and tigerdirect?  I bet that day will come and we may even see similar price surges in other currencies like what's been seen for btc.

alt coins represent an alternative entry point at a lower cost for those interested in crypto.  The better one does the better all do.  That's why security and user experience really needs a lot of improvement right now.  More free web interfaces (like electrum) but add 2FA and LESS of the $100+ gadgets that no average user is going to splurge for.

[Febo]

It is the common consensus that if bitcoin rises then altcoins also rise. However since altcoins are mostly priced in btc why would the rise of btc cause altcoins to rise? Wouldn't the lower price of btc cause altcoins to rise in btc price? Why is the opposite the common view?

With Bitcoin price decrease, many investors get afraid and pull their money out of Bitcoin and also form other coins. Coins that are held by few dont lose that value.