To make money with alt-coins you need :
-to create an altcoin and get people excited by it
-buy/mine an altcoin early and be lucky/skilled enough to pick the one that will soar in price
-scam
-trade the altcoins markets and be lucky/skilles enough
But from a long-term or even one year perspective you are probably better off with Bitcoin than any other coins
Topic: Bitcoin goes down = alts go down, Bitcoin goes up = alts go down - page 2. (Read 2574 times)
November 13, 2014, 11:46:39 AM
November 13, 2014, 10:59:14 AM
I don't think it happens with all altcoins. With doge, the opposite happened.
November 13, 2014, 10:10:00 AM
when bitcoin goes down, there is panick sell in altcoin, leading to low price
when bitcoin goes up, optimism is restored, they can afford to sell lower... leading to low price
(let just hope these aren't the same people...)
when bitcoin goes up, optimism is restored, they can afford to sell lower... leading to low price
(let just hope these aren't the same people...)
Yeah pretty much this.
It's funny how long it's taking alts to go up though.
November 13, 2014, 09:40:36 AM
when bitcoin goes down, there is panick sell in altcoin, leading to low price
when bitcoin goes up, optimism is restored, they can afford to sell lower... leading to low price
(let just hope these aren't the same people...)
when bitcoin goes up, optimism is restored, they can afford to sell lower... leading to low price
(let just hope these aren't the same people...)
November 13, 2014, 09:02:51 AM
uno is pretty resistant to that because most is held by longtermers who don't give a fuck for 20% swings in btc. Most alts are pretty oversold already from last summmer. If bitcoin would be going to 2k$ those would be making good bank too. If bitcoin goes up, i buy alts from those that sell for btc. I say 'thanks a lot' to those.
November 13, 2014, 08:40:41 AM
Most of the alts on coinmarketcap look like they are going up to me because their percentage price increase/decrease is positive and written in green, not red.
November 13, 2014, 08:39:02 AM
If you check their USD price, many of the Top 10 alts are holding steady when Bitcoin goes up. They only go down relative to Bitcoin, because speculator wannabe sheep run to Bitcoin thinking it's a safe haven. But the long-term trend for BTC/USD is still down, the miners fiat leak didn't go anywhere, and Bitcoin design flaws are still there.
November 13, 2014, 07:47:55 AM
I think a lot of it is just psychology - money just goes where people think they can make the most money in the shortest amount of time.
When alts get even more cheap and there is the temptation to make a lot of money quickly again.. watch money flow back into alts.
When alts get even more cheap and there is the temptation to make a lot of money quickly again.. watch money flow back into alts.
November 13, 2014, 04:53:24 AM
Recently Bitcoin dropped from a stable $580-620 range to as low as sub $300 and caused the alts to fall with it. The reasons behind this are totally justified and make absolute sense. This is also the time when many where saying "wait for the next BTC rally, and alts will go up with it"
So now we are in the early stages of a rally whose start looks alot better than last year's rally, yet instead of alts going up in prices as many speculated, the alt market is bleeding as if BTC just dropped to $150.
So why is this exactly? The only alt that seems to directly correlate with BTC price it LTC. Everything else, is on a pretty solid downtrend.
Perhaps this is the best time to get into altcoins? But whose to say alts will also have a rally when the initial speculation obviously failed.
So now we are in the early stages of a rally whose start looks alot better than last year's rally, yet instead of alts going up in prices as many speculated, the alt market is bleeding as if BTC just dropped to $150.
So why is this exactly? The only alt that seems to directly correlate with BTC price it LTC. Everything else, is on a pretty solid downtrend.
Perhaps this is the best time to get into altcoins? But whose to say alts will also have a rally when the initial speculation obviously failed.
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