Altcoins are down when BTC up, altcoins again down Even if BTC down. Why? - page 2.

bitkanu

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Quote from: Daniel91 on June 16, 2019, 04:33:45 AM

Quote from: Zentachain1990 on June 15, 2019, 08:45:05 AM

Altcoins are down when BTC up, altcoins again down Even if BTC down. Why?

Well, very good aquestion, and I've been thinking a lot about it recently.
During 2017 I invested my funds in bitcoin and altcoins in the same time.
When bitcoin grew, altcoini was growing even more but when the bitcoin began to fall altcoins have lost even more value.
When the crypto market began to recover, Bitcoin partially recovered but my altcoins have never recovered.
Why?
I guess because everybody know bitcoin and it's main entry point in the crypto market.
Everybody wants to have some bitcoin, it's crypto market leader but we have so many altcoins that people are confuse which one is good choice.

People are moving their money to bitcoin they are in fear of missing out, therefore the capitalization for the altcoins decreased but the 24h volume increased like crazy, that's what usually happens and to be expected since people seem to easily get panicked over the simplest move of bitcoin price but that's natural and not a wrong thing.

luigi3

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I noticed that too but it was only a few weeks before they will go with the price of bitcoin so for me they always follow what bitcoin is especially the price.

dragonvslinux

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I personally think it's because this current bull move is coming to an end, and will be followed by a considerable correction. Even if it takes until Bakkt is launched in July before pushing the price back down to sanity. Remember what happened last time futures was launched? I'm waiting for the slow grind of accumulation. Altcoins will come later...

waynechong1995

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Most likely an alt bagger wished to entry later, for me it was alts sold went BTC and after it stabilize flow back to alts again. Sometimes its BTC > fiat which triggers further alts > BTC> fiat sells. These weeks alts already have significant growth when BTC is over 7k, big movements for top 20 coins. If the bull is real then some minor correction would induce more buys. Alts have to shine over these periods with quality exposure over the market. I re-positioned too much with BTCs movement and lost alot.

Daniel91

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Quote from: Zentachain1990 on June 15, 2019, 08:45:05 AM

Altcoins are down when BTC up, altcoins again down Even if BTC down. Why?

Well, very good aquestion, and I've been thinking a lot about it recently.
During 2017 I invested my funds in bitcoin and altcoins in the same time.
When bitcoin grew, altcoini was growing even more but when the bitcoin began to fall altcoins have lost even more value.
When the crypto market began to recover, Bitcoin partially recovered but my altcoins have never recovered.
Why?
I guess because everybody know bitcoin and it's main entry point in the crypto market.
Everybody wants to have some bitcoin, it's crypto market leader but we have so many altcoins that people are confuse which one is good choice.

vucuong16101997

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Quote from: Zentachain1990 on June 15, 2019, 08:45:05 AM

Altcoins are down when BTC up, altcoins again down Even if BTC down. Why?

If you are new to this . I can only tell you the reason is because of the demand for buying and selling of people in the cryptocurrency. Explain why it is so. In my opinion, the news of the past few days has affected prices.

slaman29

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Not sure what charts you're looking at. My alts have been green in the past few days, ever since Bitcoin went up. Yes, there are times when it does the opposite but in the majority of situations, Bitcoin rising in value is good news for all of crypto.

Unless you're looking at alt-BTC pairs of course, then you generally see that red if Bitcoin flies. Like what happened yesterday.

maydna

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Quote from: Zentachain1990 on June 15, 2019, 08:45:05 AM

Altcoins are down when BTC up, altcoins again down Even if BTC down. Why?

I don't think so. Many altcoins can follow bitcoin increases, and some of them can increase in the higher price. People were making a profit from altcoin in bitcoin so now, and they are selling their bitcoin for making another profit in fiat. So if right now bitcoin price increase, that means, many people sell their bitcoin to make a bigger profit. But there is high demand from other people to buy bitcoin at a price now and perhaps, that people don't want to lose the chance to have bitcoin before the price increase too high.

But some of the altcoins already get down in this week, and maybe that is because of that altcoin cannot sustain their price in the last high price so they correct a while before they can increase higher later.

kidbounty

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Quote from: Zentachain1990 on June 15, 2019, 08:45:05 AM

Altcoins are down when BTC up, altcoins again down Even if BTC down. Why?

because everyone just thinks about profit. no one wants to buy when the price has dropped or it has been predicted to go down. they will only buy when prices rise. this is a bad cycle, but we must admit this is the way to survive and get profit here.

now I want to ask you, are you going to buy a coin that you know will come down?

the answer is definitely not. that's the reason for your question.

rosezionjohn

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Here's what I think many traders do:

When bitcoin is going up, they would sell all their altcoins so they can ride the bitcoin profit train then sell for a profit.

When bitcoin is going down, they will sell their altcoins for stable coin (USDT for example), then buy bitcoins at a lower price.

Can you see the picture?

beatzcoin123

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It is expected because altcoins are directly dependent on bitcoin. So if btc goes down, altcoin follow suit, and when bitcoin rise, altcoins with solid foundation rises too. If we can agree with ourselves that most altcoins dont have real life use case.

velive08

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I think altcoin is not entirely dependent on the price of bitcoin, but altcoin is dependent on sales volume, now when bitcoin has increased but the altcoin has not increased the volume of sales and purchases it will not affect the price. maybe that's the main cause

emberbekas

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Quote from: Zentachain1990 on June 15, 2019, 08:45:05 AM

Altcoins are down when BTC up, altcoins again down Even if BTC down. Why?

Some alts follow the trend of bitcoin prices but some don't. I think, people who invest in projects that are relatively not so good, move their investment into famous coins like bitcoin. There are so many alts out there and it's impossible for all of these alts to be able to continue to go hand in hand with bitcoin.

Pursuer

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this question has been asking many times, basically each time altcoins get dumped hard. but you know what, the reason doesn't matter that much in my opinion because the only thing that matters is that for you to keep this in mind and know that it is a certain pattern that the market always follows. knowing that you can make better plans when you are trading and know when and where to put your money in order to avoid big losses.

AjithBtc

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The market isn't the same every time, the variation happens relative to the bitcoin market in terms of adoption amd its real time usage which helps with the circulation of cryptocurrencies. More altcoins doesn't have a working product which are those falling low unlike the market of bitcoin. Most of the top altcoins follow almost the same growth pattern of bitcoin.

CryptoBry

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There is no fixed correlation in between bitcoin and the rest of the altcoins. There were times that when bitcoin is up many alts followed the same patterns and there were also times when they don't. The influence of bitcoin with the rest of the cryptocurrency market is quite obvious and proven but it does not mean that the same pattern can be seen at all times. This is making this whole market very exciting, unpredictable and hopefully for someone who is good on trading also very profitable.

rdbase

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There is just a delay in the response to the sudden rise of bitcoin price happening so suddenly.
The other altcoins are now increasing in price especially litecoin which closely follows the bitcoin price since it was the first altcoin to be created from its predecessor the almighty BTC. Grin

Shenzou

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Quote from: Zentachain1990 on June 15, 2019, 08:45:05 AM

Altcoins are down when BTC up, altcoins again down Even if BTC down. Why?

You can't excpect all the other altcoins to get up and the whole market getting some movement, as soon as bitcoin starts going up, at least not in recent couple of rises since they were not a good as the price kept going up and down randomly, you gotta give it some time so that investors and people who are interested in investing in the crypto are assured that the market is recovering, and that is by looking at the price of bitcoin and seeing a good solid rise.

bhabygrim

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Quote from: Zentachain1990 on June 15, 2019, 08:45:05 AM

Altcoins are down when BTC up, altcoins again down Even if BTC down. Why?

There are times that this happens maybe it is just a coincident .
The market depends solely on the supplies and demands so the only reason that those events have happen is due to the investors taking their profit.
The crypto drops because they traded their crypto into Fiat and this isn't something new this has happened before.
And we couldn't really expect that when Bitcoin is up the alt-coin would be down because there are times that there would be new trader and fresh money to circulate in the market so that would increase both BTC and alt-coin.

klaaas

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Quote from: Lizzylove1 on June 15, 2019, 04:09:50 PM

Well it's simply because bitcoin is the king of cryptocurrencies.

Maybe, It could also be that most altcoins get pegged to btc and on both movements traded towards btc or a stable coin.

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