Bitcoin Dump - The Worst Thing - page 8.

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Quote from: DashingAgent on November 29, 2019, 07:50:22 AM

When BTC dumps, all other coins also dump, it is worst thing because even if bitcoin dumps, then it should not effect the other cryptocurrency price value in BTC.

Lesson learned: Altcoins are correlated to BTCUSD. When BTC falls, altcoins fall harder. This is a fact of life so get used to it. Wink

The rare exception is what we call an "altcoin spring" like we saw in late 2013 or early 2017. This really only happens in the later stages of a BTC bull market, when there is speculative mania and people are looking to buy riskier and riskier assets. During those times, people sell BTC to buy into altcoins.

We're nowhere near that point in the market cycle. If my Spidey sense is correct, then we're still at least several months (if not a year) from getting there. The crypto market needs BTC to confirm a strong new bull market to new ATHs before it can enter a new "risk-on" phase.

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Quote from: quiraskill on November 29, 2019, 02:30:15 PM

Everybody says, "no one can predict the Bitcoin." But pump and dump are artificially created things.
So is it possible?

In the case of an artificially created move only those that know in advance about that move can anticipate it and get profits out of it, but they are not really predicting the market they are manipulating it which is something completely different and it is something that we commonly see in coins with a very low market cap, so can you predict those moves? The answer is no, there is nothing in the charts or in the news that could help you know that a particular coin is about to be pumped.

So it is better to forget about it if what you are trying to do is to get profits out of those movements, which is one of the main reasons why many recommend to only trade coins with good liquidity like bitcoin and some of the top altcoins.

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Everybody says, "no one can predict the Bitcoin." But pump and dump are artificially created things.
So is it possible?

Jating

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Quote from: DashingAgent on November 29, 2019, 07:50:22 AM

When BTC dumps, all other coins also dump, it is worst thing because even if bitcoin dumps, then it should not effect the other cryptocurrency price value in BTC. i,e when BTC dumps the price value of altcoins is also drops while it should increase because btc downs. When people will realize it that it is not in their benefit?

Because almost all altcoins are paired with bitcoin.

That's why when bitcoin dumps alt market are also affected negatively. There is a possible that when people are selling their bitcoin then they should move to altcoin. However, in this bearish trend, that is not the case because investors are still reluctant to invest on altcoin. So what happens is that when everything settles down, they return and re-invest on bitcoin only.

hahay

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We cannot make a short conclusion on this matter, if you only conclude a decline yesterday then it will indeed make a bad view for this market and it will not benefit you if you just panic. This market will still grow, the rise and fall of prices is just a normal cycle, so we don't need to panic about the dumping that you are worried about and not profitable for you. If you are good at using every moment that happens at least now you can benefit from yesterday's events.

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Quote from: DashingAgent on November 29, 2019, 07:50:22 AM

Bitcoin Dump - The Worst Thing

When BTC dumps, all other coins also dump, it is worst thing because even if bitcoin dumps, then it should not effect the other cryptocurrency price value in BTC. i,e when BTC dumps the price value of altcoins is also drops while it should increase because btc downs. When people will realize it that it is not in their benefit?

All coin came from bitcoin, so they will follow bitcoin price action. Market depend how trader/ investor do their activity and no one can control it. People already know market behavior but when it comes and go no one knows. Recognize market works is important keep try and good luck to you.

davinchi

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That is one of the main reasons why people think in bitcoin terms and not dollar terms when they are trading since they believe bitcoin will go up in the future anyway. So lets say bitcoin is 9 thousand dollars and your coin is 100 dollars, when bitcoin drops to 7000 dollars but your altcoin stays at 100 dollars that means you now have a lot more bitcoins when you trade, so you get back to bitcoin and wait for it to reach to 9 thousand once again and you get richer by basically doing nothing.

It is not "helping" altcoins price in the dollar sense but it does help a lot for people who want to own more bitcoins. I remember back in 2017 I have managed to make 0.26 more bitcoins once while making a total of 17 dollar profit while trading all due to this process, of course thankfully bitcoin went up later and my 0.26 profit became a whole lot more.

7788bitcoin

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Quote from: DashingAgent on November 29, 2019, 07:50:22 AM

When BTC dumps, all other coins also dump, it is worst thing because even if bitcoin dumps, then it should not effect the other cryptocurrency price value in BTC. i,e when BTC dumps the price value of altcoins is also drops while it should increase because btc downs. When people will realize it that it is not in their benefit?

You can call that any theory you want but the fact remains that bitcoin is the only coin the market that can be trusted and the rest of the coin revolve around the value of bitcoin and if people start selling bitcoin the rest of the market will go down as well and that is what we are seeing for years as long as the alt coin market came into existence. Most of the people are not long term holders and they will trade according to the market sentiments and that is why you see big drops in all the market.

boris singer

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the largest market volume is still owned by the alt / btc pair. so altcoin is still a real price follower, the panic effect that arises is also still visible for the alt / usdt pair at the same time as they try to maintain value quickly, automatically existing buy orders will be eaten quickly for buyback needs from below. Bitcoin dump still has a psychological impact on other alt prices.

Wexnident

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Dump dump dump dump. A word we all hate tbh, especially if you're actually waiting for that moment but it's part of the market growth. A market dump doesn't necessarily result in other coin dumps though, BUT it could result in what path altcoins could probably go. I actually see it as a possibility of BTC dumps, altcoins take advantage of this to go up. BUT because of how traders actually concentrate on BTC only, this kind of kills that idea. This results in what we currently see, altcoins being used as an alternative as the name "alt", and are actually more used as a way to buy BTC when it dumps instead.

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Quote from: DashingAgent on November 29, 2019, 07:50:22 AM

Bitcoin Dump - The Worst Thing

When BTC dumps, all other coins also dump, it is worst thing because even if bitcoin dumps, then it should not effect the other cryptocurrency price value in BTC. i,e when BTC dumps the price value of altcoins is also drops while it should increase because btc downs. When people will realize it that it is not in their benefit?

It's not that people do it on their own. It's actually because of the history of altcoins and their listings on exchange. Let me explain.
Long back in 2016-17 when a plethora of tokens were being listed on exchanges all of them were being listed in BTC Pairs. This meant that too stay away from fluctuations you need to first sell your alts to btc then your btc to usdt or maybe fiat. So whenever price of BTC used to go down. People who held alts saw their holdings in usd value falling down because even with BTC pair the fluctuations were still there on price. Now due to this people used to sell their alts to btc and then to fiat. This slowly became the Market perception and which is why it still happens today that alts go down too.

The Sceptical Chymist

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OP, what are you trying to say here other than using the word dump as many times as you can? The use of that word in the context of bitcoin betrays ignorance, and the number of times it's used in a single post is proportional to the extent of that ignorance. You've just proven yourself to be the king of ignorami--but hey, whatever works for you.

Quote from: iamzill on November 29, 2019, 08:19:19 AM

the current market cannot jack up the price of altcoin, bitcoin does not currently have a significant effect on altcoin.

Not sure if that's true. Take a look at some altcoins and their valuation in fiat. They're all priced in terms of bitcoin on exchanges, so usually when bitcoin goes up altcoins do as well--at least with respect to their fiat value.

Quote from: Lorence.xD on November 29, 2019, 12:29:10 PM

Quote from: iamzill on November 29, 2019, 08:19:19 AM

the current market cannot jack up the price of altcoin, bitcoin does not currently have a significant effect on altcoin. so I think right now, it's no stranger to the decline in bitcoin making altcoin also decreased. this is a cycle that has been going on and has not changed

The price of the bitcoin today we can call as a dump

Blah blah blah, who's "we"? Don't call a gain in value as a dump. That's what happened today. The price went up. That's NOT a dump.

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Quote from: iamzill on November 29, 2019, 08:19:19 AM

the current market cannot jack up the price of altcoin, bitcoin does not currently have a significant effect on altcoin. so I think right now, it's no stranger to the decline in bitcoin making altcoin also decreased. this is a cycle that has been going on and has not changed

The price of the bitcoin today we can call as a dump because it was too low from the nine thousand dollars came from over eight thousand dollars. In just two weeks, it has a significant impact on the market because many people will hold their coins too and panic selling because they don't want to lose a profit in just one mistake. The price of the bitcoin is only regular came from the previous year the bitcoin has less a thousand dollars and rises to nine thousand, just a prediction for the coming year the bitcoin will be profitable again.

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the current market cannot jack up the price of altcoin, bitcoin does not currently have a significant effect on altcoin. so I think right now, it's no stranger to the decline in bitcoin making altcoin also decreased. this is a cycle that has been going on and has not changed

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Bitcoin dump is over now. We look forward to bitcoin movements i only predict that Bitcoin will increase even though there are a lot of FUD news out there. I'm still sure bitcoin will be strong, not affected by anything. bitcoin reaction and above.

DashingAgent

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Bitcoin Dump - The Worst Thing

When BTC dumps, all other coins also dump, it is worst thing because even if bitcoin dumps, then it should not effect the other cryptocurrency price value in BTC. i,e when BTC dumps the price value of altcoins is also drops while it should increase because btc downs. When people will realize it that it is not in their benefit?

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