Topic: Alts go down when BTC goes up? (Read 508 times)
It is difficult to establish such a correlation. The situation can change at any time and dependency will cease to be relevant.
Could just be that people aren't buying into alts for now. I don't think BTC has gone up enough to affect alts yet.
What has me puzzled is that alts are going down at the same time BTC has been going up lately.
I would say the altcoin market has been in a similar (if not worse) bear market right along with bitcoin for years now.
If/when big money starts flowing into Bitcoin once more, and perceived value skyrockets, so will the altcoin market. Without the Gox bubble, Dogecoin likely would have never existed. In many ways the altcoin market represents a delayed and more significant reflection of bitcoin price changes.
If/when big money starts flowing into Bitcoin once more, and perceived value skyrockets, so will the altcoin market. Without the Gox bubble, Dogecoin likely would have never existed. In many ways the altcoin market represents a delayed and more significant reflection of bitcoin price changes.
Which major alts are headed up since BTC started rising?
Well, not really. The correlation between Bitcoin and alts is not that strong as it was on the big Bitcoin pump time back in 2013. If you take a look at the Bitcoin increase over the last days, you can see that most alts have been increased, too. So, there is still a correlation but weeker than in the past.
I was around for BTC's big run up to $1100+ and I remember the alts of the day (LTC, NMC, PPC, etc) actually increasing in price (*/BTC) at the same time. With BTC's current run, today's alts seem to be dropping in price (*/BTC). Has anyone else noticed this change in price behavior? Altcoins certainly operate within a BTC economy with everything priced in BTC so I'm surprised to see them moving in opposite directions. If you hold MAID for example, why would you trade it for BTC when the BTC/USD price increases?
Could this be due to people pulling money out of alts in order to buy into leveraged BTC positions which were not available during the last big BTC run-up? If so, should we expect the price of alts to "normalize" once BTC levels off?
Could this be due to people pulling money out of alts in order to buy into leveraged BTC positions which were not available during the last big BTC run-up? If so, should we expect the price of alts to "normalize" once BTC levels off?
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