Topic: BTC being pumped at the expense of other coins? - page 2. (Read 1977 times)
If I had to guess I would say the first time they all went up was because anything even close to crypto got a nice lil boost from everyone rushing to BTC and everyone wanting some of the crypto pie regardless if it was BTC "flavor" or LTC, NMC, etc etc etc but this time they know most other cryptocurrencies are just good for the old PnD (like the girl you took to Prom) so they are cashing those in and going for gold with BTC
Agree with bitcoin not being pumped.. kind of. There might be some sort of bubble coming so in a way it's a "pump".. But people really use that word incorrectly and way too often.
Many have analyzed that people are trading altcoins for bitcoin because bitcoins price is going up. So people are selling altcoins (which causes prices to go lower). It's not in expense of altcoin..
Previously when bitcoin went up all altcurrencies went up also.. this time when bitcoin went up other currencies went down.. Maybe there are too many altcoins now and people are using them differently than before.. dunno for real and can't explain in detail.. it's just seems like it.
Many have analyzed that people are trading altcoins for bitcoin because bitcoins price is going up. So people are selling altcoins (which causes prices to go lower). It's not in expense of altcoin..
Previously when bitcoin went up all altcurrencies went up also.. this time when bitcoin went up other currencies went down.. Maybe there are too many altcoins now and people are using them differently than before.. dunno for real and can't explain in detail.. it's just seems like it.
IMO alts are great money makers for founders, insiders, and lucky people. In general almost every alt coin is headed downhill over the long term, so a more casual trader is likely to lose money.
Very true there ARE a few exceptions to that rule but not many for the most part unless you are mining on the launch date and can hit the initial pump alts are EXTREMELY risky, thats why I use and endorse IPOMiner.com as my altcoin pool of choice that way all I gotta do is sell once I hit profit range which is easy to do if you get in during the launch of a coin and not weeks months or years down the road when its already firmly rooted in the Dead Cat Roll (to steal a phrase from Crypto Judge)
IMO alts are great money makers for founders, insiders, and lucky people. In general almost every alt coin is headed downhill over the long term, so a more casual trader is likely to lose money.
I guess OP is invested in PPC and NMC? 
Altcoins will get their fair share of pumping if this truly turns into a bubble with many new comers looking for bitcoin alternatives. Litecoin wasn't pumped during the last bubble until bitcoin was well above its previous ATH.
BTC is not being pumped. Do you understand Bitcoin is the real thing and those alts are the ones that are either being pumped or merely trying to complement Bitcoin? Overall the altcoin market is vastly overpriced at current levels anyway relative to Bitcoin.
actually I'm pretty sure whats happening is that since the FIAT worth of other coins is basically remaining the same but BTC is rising thats why their BTC value is going down, compound that with people dumping their altcoins to get back in on the BTC Gravy Train and thats where the volume and further downward pressure on prices for altcoins is coming from.
Someone please correct me if I'm wrong but I think that about sums it up.
P.s.
Also don't forget about the regular PnD cycles of crypto in general but especially when it comes to altcoins
Someone please correct me if I'm wrong but I think that about sums it up.
P.s.
Also don't forget about the regular PnD cycles of crypto in general but especially when it comes to altcoins
Btc keeps rising while coins like ppc and nmc are being dumpsteref. Coincidence?
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