How is it supposed to be alt coin season after bitcoin falls? - page 3.

wiss19

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Quote from: yat97 on April 19, 2021, 10:44:11 PM

I hear everyone talking about how it's going to be alt coin season when bitcoin season is over. But how? Whenever bitcoin falls, for some whack reason alt coins follow suit. Even those coins whos projects have nothing to do with bitcoin like Vechain.

I really feel like we've hit the market cycle top earlier than expected tbh

Not like it’s not possible it’s not every altcoins in the market that goes the same direction with bitcoin (having correlation), most of them don’t have any correlation with bitcoin at all, they are just on their own lane, so there is the possibility of these coins increasing in value even when bitcoin crashing, it’s normal thing and it happens like a lot of times, we see it happen.

Although that might be the same for coins like Ethereum, Litecoin, Bitcoin Cash and all of them that moves the same direction with bitcoin.

pixie85

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Quote from: jackg on April 19, 2021, 10:54:10 PM

No one was saying we were at the top at $65k. It's always when the price drops a little people start to get a little agitated.

If this was the peak of the market cycle, very unlikely, then we're in luck as its one of the most stable peaks we've had! We haven't even broken out of the trend line we've made over the past months yet too so...

I think alts peaking after bitcoin peaking was merely speculation and might only have happened last time? There's potential some investors move away from bitcoin as it crashes as they're not as related to it anyway - different models and gaps they're trying to fill as you've said - and some investors might get distracted by other stuff as the price falls and panic invest into something else.

Yes last time there was an ICO boom that happened also at the time when bitcoin transaction cost skyrocketed so people begun to exit BTC that was at its peak and move some of the money to altcoins because they were cheaper to transact with.

At the same time we had all that drama with BCH being labeled as the new king and its price went crazy. Many people thought that Bitcoin was going to be dethroned and bought altcoins.

There's no rule that says rich bitcoin traders will move to altcoins when it peaks.

bitgolden

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Quote from: Vishnu.Reang on April 20, 2021, 06:55:36 AM

Some of the altcoin addicts have this false belief that altcoin will gain in case Bitcoin goes down. Let me tell you, that is completely wrong. Many of the altcoins have no real usage of their own and even those with real life usage are getting pumped up only because of Bitcoin. If Bitcoin goes down, then altcoins will go down even more. Look at what happened in 2014/15 and 2018. Back in 2018, Bitcoin declined by as much as 80%-85%. And at the same time, many of the altcoins decreased by anywhere from 95% to 99%. The percentage drop will be always greater for alts in case of a correction.

That has been wrong many times before as well. We have seen bitcoin to be up and alts go up with it, and we have seen bitcoin go down and other coins go down with it, but for some reason these people believe that bitcoin needs to go down in order for their coins to go down. That is why I do not think that they know what they are talking about.

There will be some increase differences, but it will always be on the same route as always. I am not saying there can't be a moment when bitcoin increases 10% and others increase 20%, that is possible, but we will not have bitcoin go down 10% while others go up 20% that is not going to happen. So this is why we should want all the market to go up all together, that is the way it will work. In any case I think bitcoin will recover anyway so this is not a problem right now, it looks fine.

nightxglow

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That's true, i think bitcoin is still the number one cryptocurrency because no other coin can beat it yet, so i think it's kinda hard for it to be altcoin season if bitcoin is over. In fact, many altcoin depends hardly on bitcoin, like when btc price went up, they might rise as well, but when bitcoin is down, most of them follow in the same direction. Unless there's another altcoin that is more preferable rather than bitcoin, i think it will be hard for altcoin to compete after bitcoin is over. Except there's trully one coin that can replace btc, which is hard to find tbh

slapper

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Many altcoins gianed significants increase when the price of bitcoin fell from 65k to 61k. For instance, dogecoin increased up to 0.45 per coins in a short time. However, I doubt that there is any coin can survive when bitcoin decided to decrease dramatically from 59k to 50k in just a few hours. It is not a good sign to thrive. Thus, altcoins have to be sell off after bitcoin

(o)(o)ilikeboobs(o)(o)

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When Bitcoin goes down, a few altcoins go up, but when it goes sideways more altcoins will increase in price.
To determine the altcoin season it is necessary to consider the technical factors of the chart. When the BTC.D domain decreases and Bitcoin price increases slowly or sideways, Altcoin increases the most strongly. Track Bitcoin movements for a sound trading strategy. Market news is important in the short term, but the honesty of the price line is worth the longer term.

Snappycoco

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Maybe some of them thinks that the funds that were gone in bitcoin will be transferred to other altcoins. This is the common theories and rumours out there which is quite absurd due to the fact that these dip have nothing to do with other alts.

Silberman

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Quote from: yat97 on April 19, 2021, 10:44:11 PM

I hear everyone talking about how it's going to be alt coin season when bitcoin season is over. But how? Whenever bitcoin falls, for some whack reason alt coins follow suit. Even those coins whos projects have nothing to do with bitcoin like Vechain.

I really feel like we've hit the market cycle top earlier than expected tbh

An altcoin season is simply the moment altcoins outperform bitcoin as a whole and the market dominance of bitcoin goes down, even if bitcoin goes down in price if altcoins drop more slowly then we are still in an altcoin season and that is exactly what it is happening, you have to stop thinking in terms of price and instead think on what the market as a whole is pushing forward and it seems obvious we are in an altcoin season since the market dominance of bitcoin is now below 50%.

aysg76

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Quote from: yat97 on April 19, 2021, 10:44:11 PM

I hear everyone talking about how it's going to be alt coin season when bitcoin season is over. But how? Whenever bitcoin falls, for some whack reason alt coins follow suit. Even those coins whos projects have nothing to do with bitcoin like Vechain.

I really feel like we've hit the market cycle top earlier than expected tbh

Most of the altcoin follow Bitcoin rally and same is happening this time but still we need to calmly handle these situations.We need to look that we are still far ahead of 2017 crash and some are comparing this drop or correction period with that time.Just have a look at current and 2017 market then you should find the difference.We are still trading above $50k which is impressive.Many investors have plunged their funds from Bitcoin market due to which prices have been dropping but Dogecoin is witnessing insane rise.The main reason is investors are now shifting their funds towards Dogecoin in hope of getting huge returns but it is temporary pumps and in the end we will see btc rise and altcoins following its path.It's just a normal correction but soon bull market will mark upward trend in market.So be positive.

Vishnu.Reang

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Some of the altcoin addicts have this false belief that altcoin will gain in case Bitcoin goes down. Let me tell you, that is completely wrong. Many of the altcoins have no real usage of their own and even those with real life usage are getting pumped up only because of Bitcoin. If Bitcoin goes down, then altcoins will go down even more. Look at what happened in 2014/15 and 2018. Back in 2018, Bitcoin declined by as much as 80%-85%. And at the same time, many of the altcoins decreased by anywhere from 95% to 99%. The percentage drop will be always greater for alts in case of a correction.

blckhawk

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Quote from: yat97 on April 19, 2021, 10:44:11 PM

I hear everyone talking about how it's going to be alt coin season when bitcoin season is over. But how? Whenever bitcoin falls, for some whack reason alt coins follow suit. Even those coins whos projects have nothing to do with bitcoin like Vechain.

No, it doesn't work like that perhaps they are talking about Bitcoin dominance because as Btc dominance decrease the number of people investing in altcoins is increasing but if Bitcoin dumps no Altcoins gonna happen. Based on what I have observed in this market as Bitcoin dump it most of the altcoins tend to be drag down as well.

Quote

I really feel like we've hit the market cycle top earlier than expected tbh

There's a chance but there is also a chance that it isn't. I don't think institutions are done accumulating especially now that Bitcoin undergoes a correction so that means time to buy cheap tokens.

Anonylz

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Quote from: yat97 on April 19, 2021, 10:44:11 PM

I hear everyone talking about how it's going to be alt coin season when bitcoin season is over. But how? Whenever bitcoin falls, for some whack reason alt coins follow suit. Even those coins whos projects have nothing to do with bitcoin like Vechain.

I really feel like we've hit the market cycle top earlier than expected tbh

Not necessary btc will fail for alt season to begin, what you read explain that btc dominance is dropping for alts to have a chance for price pump, when they say btc dominace is reducing doesnt mean btc will fail it means btc losing hold of the market, investors are probably shifting focus from btc to alts, hence the reason why btc dominance is reducing, but for now, alts are down same as btc, i guess we will have to wait and see the outcome of this shift of dominance, if it will eventually have a positive effect on the price of alts.

bakasabo

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Quote from: yat97 on April 19, 2021, 10:44:11 PM

I hear everyone talking about how it's going to be alt coin season when bitcoin season is over.

Take a look on coingecko or coinmarketcap on Bitcoin dominance and be surprised badly. Few months ago Bitcoin dominance was around 65%. Today it is close to falling under 50% line, while Ethereum is on its usual level of 10-12%. If this is not an alt season or at least a parody of it, then how to explain it? It might even be, that all that time, before Saturdays drop, we were in alt season, just on the background of Bitcoin continues growth, we did not realize that. And not it is over.

Mauser

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Quote from: yat97 on April 19, 2021, 10:44:11 PM

I hear everyone talking about how it's going to be alt coin season when bitcoin season is over. But how? Whenever bitcoin falls, for some whack reason alt coins follow suit. Even those coins whos projects have nothing to do with bitcoin like Vechain.

I really feel like we've hit the market cycle top earlier than expected tbh

To me it looks also like a fairly high correlation between alt coins and bitcoins. If there were a big drop in bitcoins then I don't think that alt coins would start to rise. Most of the investors are holding bitcoins and alt coins. So it one position would go down I don't think that selling it and going into another coin would happen. If a big price drop would occur overnight then most of the investors would likely just hold their coins. You don't want to be grabbing a falling knife.

davis196

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Quote from: so98nn on April 20, 2021, 12:38:02 AM

The correlation between bitcoin and altcoin movement is still unsolved mystery so we can not surely say that if bitcoin is dropping then altcoins must drop behind it. Many projects are being driven independently now a days and they have their own path of development. I don’t think that we should be thinking their direct proportion all the time. Just take doge for example, a joke coin or meme coin with no serious intentions got pumped so high and that was impossible to happen ever. But that unlikelihood of the pump is disappeared in the thin air just because some rich guy tweeted about it. So yeah, things are changing!

Unsolved mystery?Really?
Altcoins are just a shitty addition to Bitcoin.They aren't even competing with Bitcoin.
If you realize that altcoins are just an addition to Bitcoin,you get to see the big picture-altcoin prices are connected to the Bitcoin price.If Bitcoin drops,altcoins drop.If Bitcoin goes up,altcoins do up.
"Altcoin season" is just a hype term shared by the pump&dump altcoin traders,to keep the hype around altcoins.
In reality,there's no such thing as "altcoin season".

iv4n

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Quote from: so98nn on April 20, 2021, 12:38:02 AM

The correlation between bitcoin and altcoin movement is still unsolved mystery so we can not surely say that if bitcoin is dropping then altcoins must drop behind it. Many projects are being driven independently now a days and they have their own path of development. I don’t think that we should be thinking their direct proportion all the time. Just take doge for example, a joke coin or meme coin with no serious intentions got pumped so high and that was impossible to happen ever. But that unlikelihood of the pump is disappeared in the thin air just because some rich guy tweeted about it. So yeah, things are changing!

I like how you started your comment, the correlation between Bitcoin and alts is unsolved mystery! In some way, it is... simply because it's a 24/7 market with so many parties involved, and we all know if someone makes a profit others lose money, it's not possible to go around that! So people do what they want, selling and buying like crazy, moving from one asset to another...

We are in a bullish period for some time... I guess we can say for some coins that they have their momentum! Doge is a good example, but not the only one!

so98nn

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The correlation between bitcoin and altcoin movement is still unsolved mystery so we can not surely say that if bitcoin is dropping then altcoins must drop behind it. Many projects are being driven independently now a days and they have their own path of development. I don’t think that we should be thinking their direct proportion all the time. Just take doge for example, a joke coin or meme coin with no serious intentions got pumped so high and that was impossible to happen ever. But that unlikelihood of the pump is disappeared in the thin air just because some rich guy tweeted about it. So yeah, things are changing!

nicecrypto

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Quote from: yat97 on April 19, 2021, 10:44:11 PM

I hear everyone talking about how it's going to be alt coin season when bitcoin season is over. But how? Whenever bitcoin falls, for some whack reason alt coins follow suit. Even those coins whos projects have nothing to do with bitcoin like Vechain.

I really feel like we've hit the market cycle top earlier than expected tbh

Yeah just like you mentioned, for some reason it happens like that but this does not mean the Bull market has come to an end considering the natural way Bitcoin would fall and Alts would rise before the bear season but caution most be taken as well in the general crypto trading space where any thing can happen. And again I dont suppose with all the institutional investment, the market would turn around this quick downside.

sunsilk

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Not yet ended for bitcoin. If it does, there's more to this correction and it would be brutal and many will not going to like it and will have a thought that it's the end for cryptocurrencies.

Quote from: yat97 on April 19, 2021, 10:44:11 PM

I really feel like we've hit the market cycle top earlier than expected tbh

Maybe but maybe not too. Just wait until the market starts to drop or if it's really the peak that we've reached. If not, bitcoin will eventually recover and would hit back again $60k.

btc78

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Quote from: yat97 on April 19, 2021, 10:44:11 PM

I hear everyone talking about how it's going to be alt coin season when bitcoin season is over. But how? Whenever bitcoin falls, for some whack reason alt coins follow suit. Even those coins whos projects have nothing to do with bitcoin like Vechain.

I really feel like we've hit the market cycle top earlier than expected tbh

Not because many talks about that meaning this will happen correctly . look at the market now https://coinmarketcap.com while Bitcoin is dumping Yet all altcoins (Aside from Dogecoin) is also dumping things that is not the same last halving because when Bitcoin starts to fall late December 2017 Ethereum and some altcoins starts to increase also.

Topic: How is it supposed to be alt coin season after bitcoin falls? - page 3. (Read 386 times)