Bitcoin is draining the altcoins - page 2.

sana54210

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Quote from: WatchMaker on December 01, 2017, 07:59:26 AM

Price of altcoins is dropping, nearly 85% of altcoins suffer from the recent bitcoin boom because most people exchange their coins for bitcoins.
What is your thought on this matter?

This is just the normal thing that is usually expected in the crypto market. Most traders think the same way and with this expectancy, Alts usually gets dumped once the big guy is correcting.

It does not last anyway, because once the correction is over, they usually get back up and then we start seeing greens like we are seeing presently now. Traders are here for profit and their actions do have a lot of effect on the market as we cannot all be HODLERS

DonaldTramponald

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Quote from: WatchMaker on December 01, 2017, 07:59:26 AM

Price of altcoins is dropping, nearly 85% of altcoins suffer from the recent bitcoin boom because most people exchange their coins for bitcoins.
What is your thought on this matter?

I have the same situation, many altcoins are now in a deep drawdown. But to sell now is illogical. It only remains to wait for the altcoins will adapt to the market and will start to regain their lost positions.

Dluretic

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The rising trend of altcoins is always the opposite of the trend of BTC. Only when the BTC stops rising, altcoins will start to rise, so I always pray that BTC will not go up too fast.

dragoz11

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as it is gold for fiat currencies also bitcoin is the reserve currency for every other altcoin. When there is a volatile in its price it automatically affects the others but as I see all the altcoins rose up parallel with btc. It is not draining.

easynote

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Quote from: WatchMaker on December 01, 2017, 07:59:26 AM

Price of altcoins is dropping, nearly 85% of altcoins suffer from the recent bitcoin boom because most people exchange their coins for bitcoins.
What is your thought on this matter?

Bitcoin is working with all the coins that actually have a working system implemented into it. If they keep strong then the price will get back to normal.

gallery2000

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Do not worry. This is the usual situation, there has always been an adjustment. Soon the price of altcoin will grow 10 times. I had experience in 2014. There was a lot of growth. Cool

sukoyomi

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I think the current altcoin price is not decreasing, even now the price of altcoin has stabilized from before. if more people leave altcoin and go for bitcoin, i guess that's no problem, because i'm sure altcoin like eth, waves, ltc, will still go forward. for myself it is better to use many types of coin than just 1 holding a coin.

frowsiter

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Quote from: WatchMaker on December 01, 2017, 07:59:26 AM

Price of altcoins is dropping, nearly 85% of altcoins suffer from the recent bitcoin boom because most people exchange their coins for bitcoins.

What is your thought on this matter?

You should re-check what you just said. I don't see any alt coin going down at the movement. If they were then I wold have been getting more of them.

The price is not completely related with the bitcoin actually as it has to be either direct investment into it or something better than that. Altcoin are actually pumping hard at this movement and I can see how top 10 coins have already gotten +10% mark hit by today only.

There might be random fluctuation though because they are not getting invested in straight way. I mean people are first investing into bitcoin and then they are getting the investment done into alt coins. So thats why you might be thinking its draining. Its not, its just taking time to reflect the 24 hours volume. :-)

zidanaltaer

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does altcoin still have hope in 2018? and how is the prediction of eth price next january month? I speak because there are some eth that I keep in the exchanger, is it time to sell et because of the bitcoin movement?

Gorgeous011235

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Quote from: WatchMaker on December 01, 2017, 07:59:26 AM

Price of altcoins is dropping, nearly 85% of altcoins suffer from the recent bitcoin boom because most people exchange their coins for bitcoins.
What is your thought on this matter?

I always say that BTC is KING that's why 50% of the total marketcap belongs to it.
But i won't be worried about alts...the market has different peaks and this is normal.
I am preetty enough sure that soon we will have another bull market for most of altcoins. Wink

God Fist

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Whenever bitcoin is rising the only fate of other altcoins is to drastically drop since people who were investing in them will instantly sell their funds in order to be on the train of those who aim to get profit from bitcoin . And such events will be more often from now on and other altcoins could totally disappear if bitcoin keeps this growing rhythm .

Bezobraznike

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Quote from: muffit on December 01, 2017, 08:15:33 AM

Price relative to what ? Relative to USD many alts rose along with Bitcoin simply by holding their ALT:BTC price.

Bitcoin as it lifts capitalisation lifts the value of the entire crypto market then once the rise stabalises that new Bitcoin money seems to help the ALTs

If it was draining the ALTs they'd be drained dry by now, BTC has had a good past 12 months added more market cap this year than the entire ALT market value in Jan 2017 probably.

I might say that your comment is the best from all others! Who
ever follow price charts will notice that in dollars almost all alt-coins
are going up with bitcoin price. In bitcoin price almost all alt-coins
are losing value, but some of them rising in bitcoins too. I noticed
that Dash is gaining value and yesterday IOTA, Waves, and few
others, it would be too much to mention all others.
This bitcoin rise made many people to transfer funds into bitcoins,
that is why demand is high and price is rising. I believe that alt-coins
are here to stay and money will come back when bitcoin keep some
steady price.

Proximity Scan

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Quote from: WatchMaker on December 01, 2017, 07:59:26 AM

Price of altcoins is dropping, nearly 85% of altcoins suffer from the recent bitcoin boom because most people exchange their coins for bitcoins.
What is your thought on this matter?

Their markets are linked to btc. While bitcoin rises, their price should decrease as a result. This will never stop unless we have a EUR based market. The pressure will stay on all the altcoins in the market.

unusualfacts30

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Quote from: WatchMaker on December 01, 2017, 07:59:26 AM

Price of altcoins is dropping, nearly 85% of altcoins suffer from the recent bitcoin boom because most people exchange their coins for bitcoins.
What is your thought on this matter?

You might say that but a lot of them are worth more even after price crashed. It would not be possible if btc didnt reach where it is now. Is it dominating? Yes but think of people its pulling towards cryptocurrency. Recent statistic shows that youngsters are more likely to invest in crypto than their old counterparts. I thinks thats good news for everyone.

foggywhite007

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But now, almost do not grow other coins except bitcoin. Well, a couple of violas of the top 10. Everyone else in the hallway are moving sideways or falling. Some fall to the cue ball has more than half a year. And it is not clear when the altcoins market will return to growth

helloge

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Quote from: zchprm on December 02, 2017, 06:19:24 AM

This is not a surprise for everyone. Bitcoin is the best coins for now and there is a trade off for this. Small coins will be drained and affected by this.

I think the bitcoin pumps because of the bitcoin fork since October. A lot of panic traders are buying bitcoin or selling other altcoins to hold btc for receiving forked coins.

0verseer

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Not all altcoin tho. BCH or LTC or ETH and few top crypto coin enjoy some raise thanks to Bitcoin.

Loganemma

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Of course, Bitcoin is the Giant of Cryptocurrency.

zchprm

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This is not a surprise for everyone. Bitcoin is the best coins for now and there is a trade off for this. Small coins will be drained and affected by this.

gracer88

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If you look at the bitcoin-altcoin price ratio, then many alts have fallen in price. If you look at the dollar-altcoin price ratio, many altcoins have grown in price. I have always counted by 1 ratio. And of course, I'm a little upset by the current situation. Embarrassed

Topic: Bitcoin is draining the altcoins - page 2. (Read 1119 times)