Alt coins dumping with Bitcoin fork coming up?

ramsdaj28

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اللعنة

Quote from: dllhg on October 08, 2017, 10:45:05 PM

I don't know bout you guys but my portfolio of alt coins took a major hit in the last 24 hours. I have over 50 types of coins and they have all dumped except for 2-3. XRP surprised me as it rose 15% today. I had heard some speculate that people will dump alt coins and focus on buying BTC so they can get in on the free BTC Gold once it forks.
I was tempted to do the same honestly. Decided to HODL and am considering adding to my bags of alts why they are so cheap . I also bought a few more BTC today despite prices being so high. May buy a few more tomorrow.

Thoughts on the matter ?

The probable thing about this is that people who have investments in altcoins have withdrawn their money from these altcoins and putting it in bitcoin (as you can see, bitcoin is rising up so fast again in the past 2 weeks). The main purpose is that they are expecting to have a share of Bitcoin Gold from their deposited BTC after the forking, just like what happened before during the Bitcoin Cash forking.

greenclub09

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It is reported that when bitcoin reaches the fork, you will receive a new bitcoin of 1: 1, so everyone selling the entire altcoin can have the most bitcoins that can lead to higher bitcoin prices. fork. But if you sold the coin when it fell then I condone it with your price is only temporary then 1-2 days it will return to its original value if you are hugging altcoin you Keep up the cross until it does not get you new coins but the value of the coin will increase many times.

dllhg

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Alts are starting to pump back up again. Glad I bought what I could the last couple days. Several are up 10 and even 20% Shocked

BTC is still high as well but it did drop about $150 today.

Dont keep eggs in one basket. I have about 60 baskets of alts now and biggest basket with BTC.

sydcrypt

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The main reason is coz people are selling their ALT coin in exchange for BTC, anticipating the free money that they may recieve after hardfork. I'm sure after that, alt coin will be pumped up and go higher. So its the right time to invest in some ALT coins now.

publicjud

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Quote from: satish37 on October 11, 2017, 02:05:55 AM

Pick up as much as you can and hold. Be patience, look up for new splits and make sure you can
capture the split once it happens , currently demand driven for core coin bitcoin and ethrem. Hard fork effect main block chain which gets many coins of new corrency

Everybody trying to do the same now so alts are dumped, BTC is pumped. I'm just trying to close my eyes on this anarchy and do nothing =)

satish37

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Pick up as much as you can and hold. Be patience, look up for new splits and make sure you can
capture the split once it happens , currently demand driven for core coin bitcoin and ethrem. Hard fork effect main block chain which gets many coins of new corrency

Winner

legendary

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Quote from: moala on October 09, 2017, 06:19:46 AM

Hope alt coins get pumped soon. The reds are scaring me Sad

You should purchase more Bitcoins if you are looking to make money via BTC. You don't have to store them if you want to make money either, although you should always try to store your Bitcoin somewhere.

arpon11

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Quote from: dllhg on October 08, 2017, 10:45:05 PM

I don't know bout you guys but my portfolio of alt coins took a major hit in the last 24 hours. I have over 50 types of coins and they have all dumped except for 2-3. XRP surprised me as it rose 15% today. I had heard some speculate that people will dump alt coins and focus on buying BTC so they can get in on the free BTC Gold once it forks.
I was tempted to do the same honestly. Decided to HODL and am considering adding to my bags of alts why they are so cheap . I also bought a few more BTC today despite prices being so high. May buy a few more tomorrow.

Thoughts on the matter ?

I think the hard fork is going to favour bitcoin core as many people are buying it now. We may think bitcoin splitting will affect the price in the long run but I doubt as the buying momentum now is an indication that price is going to go up after the fork just as it happened in August this year. I believe in a long run fund is going to flow back to altcoins market therefore now is the best time to buy them.

imperatron

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Bitcoin is too strong in the last time, a lot of alts are going to die =/

sensimilia

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I'm hodling and accumulating as we speak. Why not? I'm sure the good projects will be back at their original price point and most likely higher.

Tamy

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I will keep my altcoins, and buy some more now when they are cheap. I think that altcoins will rise again. So I will just hodl.

dllhg

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Well I kept all alt coins and added about 50% to most of the good ones while prices are so cheap. They may continue to dump who knows. BTC is hitting $4900 on and off today. Shocked

Going to break 5K soon I feel. I actually loaded up on BTC as well. I figure there will be a nice bonus with the BTG so even if price drops a bit I wont lose much if any money.

I mentioned before in other threads I thought BTC would hit 5K by this week. I also believe it will hit atleast 7K by the end of the year. People seem to continue underestimating BTC and how much people in the world want this type of currency. Adoption is happening fairly quickly.

bitcoinvestor

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Quote from: behindcrypto on October 08, 2017, 11:02:02 PM

Yes May Altcoins drop more bceause of Bitcoin continues to rise through Fork, And People are expecting free Bitcoin Gold On 25th October if they will hold their Bitcoin in Bittrex and some other Exchanges. Its happening same like Bitcoin Cash. It may be the reason people are buying more Bitcoin to get Free Bitcoin Gold Equally.

got airdrop of btg is the easiest way to double the income for traders. It is an airdrop coin of BTG , everyone won't miss it. after that they will sell the btg and earn more BTC. That's great and easy trading scenario. The more BTC the more BTG they will earn.

thycrypto

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Quote from: PadenoM on October 09, 2017, 06:05:02 AM

Same for me, I took a hit but since a few months, I wish to buy more as it is cheap but I don't want to lose money, just hold

HODL!!! Wish I would have known that more drops were coming after the China drop. Huh

muncuss

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Quote from: candy27 on October 09, 2017, 07:31:36 AM

Quote from: 13abyknight on October 09, 2017, 03:52:06 AM

Can't really call it a dump if they end up benefiting due to the fork. Remember last time? Bitcoin skyrocketed after the first fork which gave birth to BCH and all altcoins followed Bitcoin up into the sky. This time, I'm calling the same thing to happen again but not that substantial of a rise in price. The golden rule of the altcoin market for me: where BTC lies, the altcoins follow in line.

The difference is that last time, it was very clear there would be two separate chains, each with replay protection.

This time, one chain aims to defeat the other one and become the only "true" bitcoin. How that will work is anyone's guess. I think people have become complacent with how well the fork to bitcoincash went. It might not be like that this time.

NYA signatory mostly are big miner and exchanger, yes maybe this will different than last fork. But people move to bitcoin gold? I don't think so. What we know, the true bitcoin is the old ones

CryptoWorld87

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Quote from: behindcrypto on October 08, 2017, 11:02:02 PM

Yes May Altcoins drop more bceause of Bitcoin continues to rise through Fork, And People are expecting free Bitcoin Gold On 25th October if they will hold their Bitcoin in Bittrex and some other Exchanges. Its happening same like Bitcoin Cash. It may be the reason people are buying more Bitcoin to get Free Bitcoin Gold Equally.

So this coming october 25 there is a bitcoin fork again and they will give another free coin like bitcoin cash? Hmmmp thats quite a lot of money for a millionaire holder in bitcoin

jsscgs001

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I expect that there will be a major dump of BTG as soon as hits exchanges and BTC to rise further.

MI6

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some people waht to get free coins like BCH maybe so they sell their alts to save some bitcoin and wait for fork when it come, i save a little amount to hope can get free coins again like BCH

chocopapaya

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If you are holding altcoins that you believe in, that actually have a future, why are you worried?
Just hold.
Buy more of them while they are cheap.
Put your fiat into ETH and buy them with ETH if you want to horde your BTC.
But selling your alts now to buy more BTC?
Sheesh, you should have started doing that like 2 weeks ago.

Red-Apple

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Quote from: dllhg on October 08, 2017, 10:45:05 PM

... Decided to HODL and am considering adding to my bags of alts why they are so cheap . ...

i am strongly against HODLing altcoins specially when they are getting dumped like today. you will soon end up regretting this HODLing when the amount you lost becomes huge, growing every day!

but i am a big supporter of buying "bags" when certain altcoins become cheap. there are some altcoins that we all know will recover by pumping or anything else. so it is best to pick them up, but only at the bottom of the dip. nowhere else.

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