Alt coins dumping with Bitcoin fork coming up? - page 2.

jaocoincrypto18

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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 ?

Maybe one of the reason was due to China and South Korea ban the ICO in which altcoins was the most affected, the aftermath was many altcoin investors choose not to invest in altcoins instead they sell their altcoins to buy bitcoin and hoard to benefits the free bitcoin gold. But if the altcoin value continue to fall down it will be the opportunity of the others to buy altcoins at the cheapest price and keep it until the hard fork is completed.

candy27

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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.

peter0425

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Quote from: okae on October 09, 2017, 06:32:57 AM

Well is not something rare that when bitcoin price goes up Alts goes down but i must agree that those news about next bitcoin fork could have impact over it, people learn how things works and they are aware of it and want to take some advantage.

While this happen HODL your alts is not a bad idea but there will be always people who will fall into "panic" and sell it Tongue

While bitcoin is really surging right now, it only makes sense that altcoin is dropping because investors are moving their funds to bitcoin to get as much free bitcoin gold as they can. Its easy and free coin so they are taking advantage of it. And as long as you know the reason why certain altcoins is going down and if you are holding that coin, then you don't need to panic and sell it. Just be patience and wait till market has calmed down.

Just hold on your coin and once everything is settled with bitcoin gold free coins, it will be back to normal and we might see altcoins pump again after traders dump bitcoin gold and go back trading altcoins again. This is just a repeat of the split last Aug, nothing to worry on your end, OP.

jsscgs001

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yeah that right well like bch they want free money coming from the bitcoin gold

okae

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northern exposure

Well is not something rare that when bitcoin price goes up Alts goes down but i must agree that those news about next bitcoin fork could have impact over it, people learn how things works and they are aware of it and want to take some advantage.

While this happen HODL your alts is not a bad idea but there will be always people who will fall into "panic" and sell it Tongue

Jonashe

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CryptoPuzzle.com developer

Altcoin dump because BTC is on his way to $5000+, new ATH incoming.

axiline

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Everybody wants a free Bitcoin Gold. I recommend to drop the alts in a small minus and re-buy them on the bottom. But some of the money is left in USDT, so the second and third bottoms may appear Cry

moala

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Moirai ICO starts on 10/11/2017

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

PadenoM

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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

Crypto-watch-Talk

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Yea I've seen it to, I have abit on Waves and it's been dropping. If your like me I am just going to hold them because after this BITcoin gold fork dies down the prices will just rise again.

fragout

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I think there will be more sell pressure on Alts until the Bitcoin Gold fork. I expect that there will be a major dump of BTG as soon as hits exchanges and BTC to rise further. The amount of money that comes back into Alts depends on how fast BTC is rising after the fork which might not be that fast with the 2X fork fear. If BTG is dumped as fast as i think it will be though, it will be a forecast as to what should happen with 2X

Geenstijl

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The alt hodling profit is the same as getting free coins due to hardfork. We all could see it 1st August.

13abyknight

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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.

Starbtc

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This happens in every market , so people are free to choose hodl,buy,sell based on their plans and requirements.

coleman268

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This is going to continue until Bitcoin Gold releases, people will keep selling their alt coins so they can hoard more bitcoins. Honestly speaking this is the perfect time to buy alt coins while they're low though.

fedor3327

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Passionate about Crypto

Yes I think everyone was surprised at the value on Bitcoin Cash. Now as humans we will want to be greedy.

A definite strategy would need to be considered.

Sell Bitcoin "high" and buy ALT's cheap.

Sell your ALT's and buy Bitcoin.

Personally I think the first option is the smart one simply because the "majority" will be following the second strategy.

As they say...When one door closes another one opens.

opcrypt44

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They really are. All the iffy ones I'm out of.
Thankfully with little loss.

Ayaancool

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Even same for me most of my altcoins i recently bough after lots of research going in last two days its gone around 20% to 30% is that fork going to happen or its just a rumor . Please some body give genuine details . If it is true then i want to invest on bitcoin . Because i am new to this crypto trading.

dllhg

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I am going to hold all my alt coins. I'm way in the red on most of them now. Covering all my bases and I will buy more alt coins for cheap.

Minecache

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Vave.com - Crypto Casino

According coinmarketcup the btc dominance rating is already more than 50%. It can sign that people convert their alts to btc before the fork, just like before the previous one.

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