Altcoins dropping because users cashing out BTC before the forks?

marados

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Quote from: invitro on October 09, 2017, 04:52:04 AM

Read this tweet

https://twitter.com/ICOAlerts/status/917095565036589056

is this true? are altcoins dropping before the BTC fork?

It's probably too early for it to happen. We could have seen some drop in price for altcoins for last couple of days, but seems like they are going back on track because as I said, it is too early to blame BTC fork for it.

But definetly couple of days before BTC fork, a lot of people will dump their altcoins to get more Bitcoin Gold or whatever it will be. The same thing that hapenned on August 1. with Bitcoin Cash.

invitro

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Quote from: invitro on October 10, 2017, 03:12:54 AM

OMG at $7 is a steal

yep, it was a steal.

OMG is at $9.5 now. 20% gains

Golftech

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Quote from: vasrasus on October 10, 2017, 10:14:01 PM

Quote from: muci1806 on October 10, 2017, 07:43:45 PM

It´s pretty more people jump from their alts into BTC to get free BTC Gold on the 25th Okt. People love free money, its simple Wink

That's the reason definitely, when the fork is over and they get that free BTC Gold then they will use it to buy more of alts, just a matyer of time no need to panic for alt holders.

yes its just a normal greediness from the big players they just wanted to have a lots of btc to get more rewards and free money with btc gold then after
that for sure they will come back and choose what alts that they will support and start to hyped the value again, so better for those who's been trapped not to panic and just wait for some time.

Lumada

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Quote from: Saoha on October 10, 2017, 10:25:33 PM

I think this is the reason altcoin fell and Bitcoin increased last week.
- Keep the BTC until the end of October 25th you will receive the BTG on November 1 at 1: 1. It is now possible to see that the BTC will be split up again and that is confirmed by the leaders at Bitmain and F2Pool.
Specifically: 1 BTC = 10 BTG
BTG = Bitcoin Gold

Everybody sells altcoins and buys Bitcoin

And after the hard fork they will definitely buy back their alts, it's a good thing that we see bitcoin cash gaines success that's whybwe are supporting now hard fork than having fud and panic.

Saoha

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I think this is the reason altcoin fell and Bitcoin increased last week.
- Keep the BTC until the end of October 25th you will receive the BTG on November 1 at 1: 1. It is now possible to see that the BTC will be split up again and that is confirmed by the leaders at Bitmain and F2Pool.
Specifically: 1 BTC = 10 BTG
BTG = Bitcoin Gold

Everybody sells altcoins and buys Bitcoin

vasrasus

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Bcnex - The Ultimate Blockchain Trading Platform

Quote from: muci1806 on October 10, 2017, 07:43:45 PM

It´s pretty more people jump from their alts into BTC to get free BTC Gold on the 25th Okt. People love free money, its simple Wink

That's the reason definitely, when the fork is over and they get that free BTC Gold then they will use it to buy more of alts, just a matyer of time no need to panic for alt holders.

muci1806

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It´s pretty more people jump from their alts into BTC to get free BTC Gold on the 25th Okt. People love free money, its simple Wink

carriebee

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Quote from: muvie on October 09, 2017, 01:56:54 PM

I think many people want to claim Bitcoin Gold and they sell altcoins because of that. Also many people always cash out into fiat when btc price is high.

This is one of the possible reasons altcoins dropping because of the preparation of upcoming hard forks. But most are buying of the dip because altcoins are bloody these days. Altcoins will recover for sure and most can gain profit.

mummybtc

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Quote from: Zakhal on October 09, 2017, 12:55:14 PM

Quote from: JShort on October 09, 2017, 06:44:51 AM

interesting read I found

https://www.reddit.com/r/BitcoinMarkets/comments/757l70/here_is_why_bitcoingold_is_shady_and_a_scam_you/

If Bitcoin gold IS a hairy scam then alts could rise quickly.

https://steemit.com/bitcoin/@bluephoenix/bitcoin-gold-is-a-scam

I don't think the price movement is due to Bitcoin Gold hard fork it is more of the 2x hard, this has support of the likes of Roger, Jihan and co. Bitcoin Gold is more of a freebie and child play to me

invitro

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OMG at $7 is a steal

CryptoDen

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Is there an exact date for the hard fork? I'm going to sell off some BTC once the price tops out and redistribute it to my alts while they're down, I have no less faith in them now then when I bought them so just going to rebalance my portfolio with the increased BTC price and HODL.

Elle47

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Probably people hope that bitcoin gold will be at price of bitcoin cash.

khufuking

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I just wonder how many thread about this very same question will get open in the up coming days , I do not think there is even a question here ! what is happening is the logic without any further thinking , There is a chance to get free money from just holding BTC + you will make more money because BTC price logicly will increase , OF course a lot of people will convert there alts to buy some BTC and benefit from it . Now the real question is which is better !? Buy alts at dip or keep my BTC for free money Roll Eyes

stifler_matricker

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always being the challenger!
don't go where the mass go to maximise profit.
My deep trust in my ico's Grin

Xetamin

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Quote from: yonton on October 09, 2017, 01:00:56 PM

Yes everybody wants bitcoin to get the extra fork coin. I can't believe ppl didn't see this coming. Anyone who has invested after the alt boom in the spring has lost vs bitcoin.

I feel strange that people selling altcoin. If the Bitcoin is in forks, then altcoin is more secure.

Anthony1985

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Tic.eth

Quote from: Zakhal on October 09, 2017, 12:55:14 PM

Quote from: JShort on October 09, 2017, 06:44:51 AM

interesting read I found

https://www.reddit.com/r/BitcoinMarkets/comments/757l70/here_is_why_bitcoingold_is_shady_and_a_scam_you/

If Bitcoin gold IS a hairy scam then alts could rise quickly.

https://steemit.com/bitcoin/@bluephoenix/bitcoin-gold-is-a-scam

Sounds absurd to me! There is a huge dump of alt coins because of this Bitcoin Gold? I can't believe people are going for it

muvie

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I think many people want to claim Bitcoin Gold and they sell altcoins because of that. Also many people always cash out into fiat when btc price is high.

yonton

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Quote from: Gutenhans on October 09, 2017, 01:07:18 PM

You could go for altcoins and the moment will be during the fork when they will hit bottom.
Keeping it in bitcoin will give you free BTCGOLD but it's a question mark how much will that be worth. Not to mention the price will fluctuate a lot, very quick moastly downwords. Most people say the price will be around 1000 for one BTG.
I would go for altcoins that are very promising and already known because:

The people who backed out of altcoins and went for the free bitcoin money will come back to altcoins if the hard fork pays out for them, even if not they will go to altcoins trying to make out for the lost profits/time.

Like i said the best time to buy altcoins will be during the fork and the best time to sell them (you have to watch the news/order books) is when people will cash in on the free bitcoin gold.

I think in a month time you can go 30% profit on your investment if played safe.

Don't buy a fresh coin. People will go back to coins that are familiar to them and already gave them profits in the past. So look for coins that we're performing good up to 4-5 months back.

100% Agree

Gutenhans

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Call me Mr. Hans

You could go for altcoins and the moment will be during the fork when they will hit bottom.
Keeping it in bitcoin will give you free BTCGOLD but it's a question mark how much will that be worth. Not to mention the price will fluctuate a lot, very quick moastly downwords. Most people say the price will be around 1000 for one BTG.
I would go for altcoins that are very promising and already known because:

The people who backed out of altcoins and went for the free bitcoin money will come back to altcoins if the hard fork pays out for them, even if not they will go to altcoins trying to make out for the lost profits/time.

Like i said the best time to buy altcoins will be during the fork and the best time to sell them (you have to watch the news/order books) is when people will cash in on the free bitcoin gold.

I think in a month time you can go 30% profit on your investment if played safe.

Don't buy a fresh coin. People will go back to coins that are familiar to them and already gave them profits in the past. So look for coins that we're performing good up to 4-5 months back.

yonton

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Yes everybody wants bitcoin to get the extra fork coin. I can't believe ppl didn't see this coming. Anyone who has invested after the alt boom in the spring has lost vs bitcoin.

phr0stbyt3

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Mostly this is the only reason which can relate to the price drop during bcc also many were eager to get free cash which is not wrong at all bcc had gone to 600$ that means even if you hold 1 bitcoin and if same happens for bitcoin gold 600$ for free will never hurt to anyone. If you are a altcoin trader and have no interest in bitcoin gold don't miss this opportunity

Zakhal

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I love crypto

Quote from: JShort on October 09, 2017, 06:44:51 AM

interesting read I found

https://www.reddit.com/r/BitcoinMarkets/comments/757l70/here_is_why_bitcoingold_is_shady_and_a_scam_you/

If Bitcoin gold IS a hairy scam then alts could rise quickly.

https://steemit.com/bitcoin/@bluephoenix/bitcoin-gold-is-a-scam

kleissen86

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Quote from: FrankNoland on October 09, 2017, 12:27:28 PM

Quote from: invitro on October 09, 2017, 04:52:04 AM

Read this tweet

https://twitter.com/ICOAlerts/status/917095565036589056

is this true? are altcoins dropping before the BTC fork?

I hate to admit it but this is actually true and I must say that now it makes sense since a lot of altcoins are highlighted in red on coinmarketcap.

In my opinion, I actually think that it is good that altcoins are crashing and bitcoin isn't. We should actually consider this as an opportunity to buy more altcoins so that when ever they start recovering, and we start making profit.

With the current value of bitcoin, you will be able to buy as many as you can, which means better profit.

I don't have much btc atm should it be better for me to cash it out and buy alt coins cheap and wait for a while?

FrankNoland

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Quote from: invitro on October 09, 2017, 04:52:04 AM

Read this tweet

https://twitter.com/ICOAlerts/status/917095565036589056

is this true? are altcoins dropping before the BTC fork?

I hate to admit it but this is actually true and I must say that now it makes sense since a lot of altcoins are highlighted in red on coinmarketcap.

In my opinion, I actually think that it is good that altcoins are crashing and bitcoin isn't. We should actually consider this as an opportunity to buy more altcoins so that when ever they start recovering, and we start making profit.

With the current value of bitcoin, you will be able to buy as many as you can, which means better profit.

McWorse

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Altcoins dropping because users cashing out BTC before the forks?

If you only look at the price in BTC - yes. At least you get the impression, that the price is dropping.
But is this impression justified?
No.
In the last 2 1/2 weeks the price of BTC went up more than 30%.
But did altcoins lost 30%?
The most of them not.

So if you compare the price in fiat now with the price a couple of days ago, you can't see a real drop.
But it is the curse of alts that we always compare them with BTC, although it is the time not to do it anymore. We should break with this stucked point of view and grant alts more independence. Would be better for the market.

TrumpD

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Quote from: invitro on October 09, 2017, 04:52:04 AM

Read this tweet

https://twitter.com/ICOAlerts/status/917095565036589056

is this true? are altcoins dropping before the BTC fork?

People just make up nonsense and tweet them as fact.That it is on twitter does not make it true, there is no evidence whatsoever linking the slump of altcoin prices with the impeding Fork.

shirackjs

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This is what I feel too, people sell altcoins for bitcoin to receive free bitcoin gold.
And it will be a good time to buy altcoins.

BitcoinLoan

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If it is true, so good investment will be wait to 23-24 oct and buy as many as possible bitcoins because later his price will grow up

DenysM

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I think that because of the hard fork all the altcoins are falling. Many are trying to transfer their funds into bitcoin and because of this, bitcoin is growing. I'm sure that after a successful hard fork, the market will quickly resume its positions. If the bitcoin market is growing, and all other coins do not support it, then the reason is precisely this.
You noticed that in the market, if there is a surge, then the transition to the top occurs with all the coins. The same goes for the fall. I do not take individual coins that do not grow with everyone. If the whole market goes to the top, and some do not, the reason is in the coins themselves and in their project.
Someone is talking about the decline due to the slowdown of mining, but some still look at the situation more optimistically. Perhaps, improvements can attract new users, and this is the main factor for price growth.

the rise

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Quote from: bananadines on October 09, 2017, 07:06:04 AM

Quote from: hase0278 on October 09, 2017, 04:56:47 AM

Quote from: invitro on October 09, 2017, 04:52:04 AM

Read this tweet

https://twitter.com/ICOAlerts/status/917095565036589056

is this true? are altcoins dropping before the BTC fork?

This is highly unlikely to be the reason even if more altcoins begins to drop. Don't believe that FUD, alts are just going down because some big hodlers probably is converting into bitcoin now to get some free money after the fork. It will stop sooner or later, don't believe the fake news that will be thrown out by whales they will just try to bring down price to buy cheap coins.

Yeah guys, I think you should cool down. A lot of people are in panic before that fork. But the alts are not going to drop that long. Maybe we see some drops in short term, but thats not for long

I think the movement will get tighter when it comes on October 18-20, in fact I'm among those who are afraid because hardfork has the potential to make bitcoin worthless and damaged, but based on the fact (emergence of BCH), so many people prepare to get BitcoinGold regardless of the risks which might happen, altcoin is being harmed now.

billysunday2000

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Yes -think alt coins and ICOs are crashing so people can buy bitcoin before hard fork.

I think it will be good opportunity to buy up alt and ICO on the cheap.

I know I will be getting more OMG and others

bananadines

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Quote from: hase0278 on October 09, 2017, 04:56:47 AM

Quote from: invitro on October 09, 2017, 04:52:04 AM

Read this tweet

https://twitter.com/ICOAlerts/status/917095565036589056

is this true? are altcoins dropping before the BTC fork?

This is highly unlikely to be the reason even if more altcoins begins to drop. Don't believe that FUD, alts are just going down because some big hodlers probably is converting into bitcoin now to get some free money after the fork. It will stop sooner or later, don't believe the fake news that will be thrown out by whales they will just try to bring down price to buy cheap coins.

Yeah guys, I think you should cool down. A lot of people are in panic before that fork. But the alts are not going to drop that long. Maybe we see some drops in short term, but thats not for long

Actualiteit

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pretty much what happened last time isn't it? Alts in the red-> btc forks-> people get their free new coins-> sell them for btc-> buy alts. One thing to think about is whether to sell (or have sold because you're kinda late selling now) your alts and buy back in with your extra btc, or buy the selloffs right now to make sure you don't get caught out when alts rebound. Option 1 is more likely to work out better for me personally.

JShort

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interesting read I found

https://www.reddit.com/r/BitcoinMarkets/comments/757l70/here_is_why_bitcoingold_is_shady_and_a_scam_you/

arpon11

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Quote from: invitro on October 09, 2017, 04:52:04 AM

Read this tweet

https://twitter.com/ICOAlerts/status/917095565036589056

is this true? are altcoins dropping before the BTC fork?

Many traders are speculating that what happened in August will repeat again and therefore they are taking position not to go in late. Like the article has said many traders especially the panic will covert they coins to bitcoin in other to transfer it to fiat so that nothing serious will happen to they investments. I will ever advise people to hold in other to take profits maybe next year.

invitro

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Quote from: Anthony1985 on October 09, 2017, 06:09:06 AM

It is a bit early but yes seems like everyone is dumping their alt coins to for BTC, and this is why BTC price is raising.

which means the price will fall after the forks

Anthony1985

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Tic.eth

It is a bit early but yes seems like everyone is dumping their alt coins to for BTC, and this is why BTC price is raising.

jack1111

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Not only big holders, people watched what happened in the previous fork, so why they should not follow the trend?
Even altcoin holders, they can buy back cheaper at the time of the fork.

apumaycry

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look like people sell his altcoin for btc to get free btc gold

invitro

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Quote from: hase0278 on October 09, 2017, 04:56:47 AM

Quote from: invitro on October 09, 2017, 04:52:04 AM

Read this tweet

https://twitter.com/ICOAlerts/status/917095565036589056

is this true? are altcoins dropping before the BTC fork?

alts are just going down because some big hodlers probably is converting into bitcoin now to get some free money after the fork.

thats what I said and thats what the tweet says.

users cashing in bitcoins before the fork

hase0278

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Quote from: invitro on October 09, 2017, 04:52:04 AM

Read this tweet

https://twitter.com/ICOAlerts/status/917095565036589056

is this true? are altcoins dropping before the BTC fork?

This is highly unlikely to be the reason even if more altcoins begins to drop. Don't believe that FUD, alts are just going down because some big hodlers probably is converting into bitcoin now to get some free money after the fork. It will stop sooner or later, don't believe the fake news that will be thrown out by whales they will just try to bring down price to buy cheap coins.

invitro

member

Activity: 70

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Read this tweet

https://twitter.com/ICOAlerts/status/917095565036589056

is this true? are altcoins dropping before the BTC fork?

Topic: Altcoins dropping because users cashing out BTC before the forks? (Read 1601 times)