do not be afraid of the alts-rally - page 2.

Denker

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Quote from: Richard Branson on May 07, 2017, 03:48:06 PM

Quote from: Denker on May 07, 2017, 03:18:14 PM

March the 1st overall altcoin/shitcoin marketcap was $3.2 billion. 9 weeks later it's $22.2 billion! Let that sink in! So that is ~$2.1 billion per week flooding into altcoins.

A common mistake here on bitcointalk.
Only a tiny amount of coins is traded. The Marketcap has nothing to do with the amount of inflow-money.

Yeah I know. Gnosis was best example. 12/13 million collected for ~5% of the whole coin supply resulted in a market cap of 300 million.
But still the amount of money moved into alts is huge!

Richard Branson

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Screw It, Let's Do It

Quote from: Denker on May 07, 2017, 03:18:14 PM

March the 1st overall altcoin/shitcoin marketcap was $3.2 billion. 9 weeks later it's $22.2 billion! Let that sink in! So that is ~$2.1 billion per week flooding into altcoins.

A common mistake here on bitcointalk.
Only a tiny amount of coins is traded. The Marketcap has nothing to do with the amount of inflow-money.

Denker

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Merit: 1014

Quote from: 600watt on May 07, 2017, 02:16:26 PM

a few thoughts concerning the big gains that lots of alts are showing:

-don´t begrudge alt investors for big gains. let them have their 5 minutes. bitcoin started its uptrend 18 months ago at $ 200-300 and has reached $ 1600 on bitstamp a few days ago. it has 5 folded or even 8 folded, depending where you start to count. in my opinion it will rise further, the end of the uptrend is not near. bitcoin went up 30% in the last 30 days.

-since alts are rallying at the same time bitcoin shows new ATHs it is clear that the money going into alts is not bleeding out of bitcoin. it is new money getting in. every dollar that gets invested in cryptos is good. lots of alts get traded via bitcoin and lots of alt investors will realize sooner or later that bitcoin is the name of the game.

-when alts have reached their peak and tank, part of that money invested in alts will flood into bitcoin. lots of investors will lose their gains and get burned but some of them will try to learn and switch to bitcoin. imho the positive effect for bitcoin will outweigh the negative ones.

disclaimer: invested in btc only

Totally agree with you that there's no reason to fear the alts rising. But I have to admit the shitcoin bubble is insanely huge already. Can't believe these are just newbs coming in and throwing their money into tier 3 and 4 coins. That's so ridiculous and the blood bath will be massive!!
On the other side the longer this bubble holds and rises the bigger the slingshot for BTC will be! March the 1st overall altcoin/shitcoin marketcap was $3.2 billion. 9 weeks later it's $22.2 billion! Let that sink in! So that is ~$2.1 billion per week flooding into altcoins.
Imagine just 3-5 billion of that moving to Bitcoin when that shitcoin bubble pops, and that thin market supply we are having at the moment cause nobody really wants to sell his BTC!!

harizen

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Quote from: 600watt on May 07, 2017, 02:16:26 PM

-since alts are rallying at the same time bitcoin shows new ATHs it is clear that the money going into alts is not bleeding out of bitcoin. it is new money getting in. every dollar that gets invested in cryptos is good. lots of alts get traded via bitcoin and lots of alt investors will realize sooner or later that bitcoin is the name of the game.

Somehow agree. Compare to the usual thing when Bitcoin price is surging, most alts are tremendously having a price decrease meaning part of invested money in those alts are being used to bitcoin. Honestly this is the first time I saw that most alts are having a big volume day by day (e.g NEM, STR, etc..) while at the same time bitcoin price is playing with it's considered high price.

Quote from: 600watt on May 07, 2017, 02:16:26 PM

-when alts have reached their peak and tank, part of that money invested in alts will flood into bitcoin. lots of investors will lose their gains and get burned but some of them will try to learn and switch to bitcoin. imho the positive effect for bitcoin will outweigh the negative ones.

Obviously it is since it will be sold in bitcoin literally.

But talking to the real thing that Im expecting, I see no. Switch might not be the right term as investors tend to make multiple holdings of both bitcoin and other alts.

york780

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I wouldnt say it like this. Altcoins go in cycles because they aint worth shit (most of them). When the hype kicks in noobs decide to pump it. Btc isnt going in cycles or stupid ABC patterns because its an important backbone of the future decentralisation of the society. Make no mistake : the btc that we see rightnow is bearish and still going to 1600. When btc turns bullish again may god know how high it will go. 2k? 5k? Bitcoin is the most advanced crypto by far. Noob altcoins will get the same trouble if they ever reach such a marketcap. None of them even have the potential of doing the things bitcoin is doing. I am confident that bitcoin will get its shit togeter and will continue to do its thing, better and more inovative as ever before. Crypto is not going to wait for the next 20 bln marketcap coin. Get a grip. Altcoins a like a casino rightnow. Are you a gambler or an investor? Choose wisely.

criptix

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Quote from: mindrust on May 07, 2017, 02:27:52 PM

Nobody with a functioning brain is afraid of altcoins. Bitcoin is there for years with a massive trading volume everyday. Altcoins hibernate for months and awaken for a short time and go back to sleep again. That's their routine.

Bitcoin is on a bull run since the last summer but I realized, when altcoins wake up from the dead, bitcoin becomes a bull on steroids. When alts get pumped out of nowhere, bitcoin goes crazy and pumps even harder than normally. What we experience is very similar to 2013 Q4's bull run in this regard. Everything gets pumped. Everybody wins! This type of madness don't end well usually.

P.S.: i hodl only btc, nothing else.

You should go 1-10% in alts depending on your risk behaviour.
You gonna miss out else!

mindrust

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Nobody with a functioning brain is afraid of altcoins. Bitcoin is there for years with a massive trading volume everyday. Altcoins hibernate for months and awaken for a short time and go back to sleep again. That's their routine.

Bitcoin is on a bull run since the last summer but I realized, when altcoins wake up from the dead, bitcoin becomes a bull on steroids. When alts get pumped out of nowhere, bitcoin goes crazy and pumps even harder than normally. What we experience is very similar to 2013 Q4's bull run in this regard. Everything gets pumped. Everybody wins! This type of madness don't end well usually.

P.S.: i hodl only btc, nothing else.

600watt

legendary

Activity: 2338

Merit: 2106

a few thoughts concerning the big gains that lots of alts are showing:

-don´t begrudge alt investors for big gains. let them have their 5 minutes. bitcoin started its uptrend 18 months ago at $ 200-300 and has reached $ 1600 on bitstamp a few days ago. it has 5 folded or even 8 folded, depending where you start to count. in my opinion it will rise further, the end of the uptrend is not near. bitcoin went up 30% in the last 30 days.

-since alts are rallying at the same time bitcoin shows new ATHs it is clear that the money going into alts is not bleeding out of bitcoin. it is new money getting in. every dollar that gets invested in cryptos is good. lots of alts get traded via bitcoin and lots of alt investors will realize sooner or later that bitcoin is the name of the game.

-when alts have reached their peak and tank, part of that money invested in alts will flood into bitcoin. lots of investors will lose their gains and get burned but some of them will try to learn and switch to bitcoin. imho the positive effect for bitcoin will outweigh the negative ones.

disclaimer: invested in btc only

Topic: do not be afraid of the alts-rally - page 2. (Read 1675 times)