If all the FUD is about Bitcoin split, why Altcoins are falling? lol

scambust

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Quote from: europesss on July 11, 2017, 11:39:52 AM

Because most of altcoins are using BTC/altcoins trading pair, when BTC drops, the altcoins will follow to drop.

This is correct. If altcoins were traded against fiat, it wouldn't impact much the altcoins. Just take a look at exclusive altcoin-CNY pairs. They have a mind of their own.

helloeverybody

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From my experience every single time ive come to doubt bitcoin due to another bitcoin is dying thread or whatever dramas it might be at the time bitcoin has always come back harder than it was before. Imo After august first bitcoin is going to explode in value. Money will drain out of the alts and into bitcoin because what other coin has stood the test of time like bitcoin has?

europesss

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Because most of altcoins are using BTC/altcoins trading pair, when BTC drops, the altcoins will follow to drop.

Metros

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Quote from: solid12345 on July 11, 2017, 11:16:01 AM

Most of the panic is manufactured, you mean to tell me everyone woke up this weekend and decided to all get scared at once about August 1st?

It is whales mass dumping everywhere to create the terror and they make money that way.

Sure there is some legitimacy to the fears about a blockchain split but believe it or not there are alot of people who don't follow this blocksize debate religiously and instead what gets their attention is falling prices because it affects their bottom line. It's the price action not the news that drives the panic.

It is a combination of all and sure Whales used it.

They cashed out a lot and if you notice many bought back when it went all time low.

I hope that more hands got in rather then more whales..

But until we'll reach 1trillion market cap, whales will be able to play and get people to panic sell.

solid12345

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Most of the panic is manufactured, you mean to tell me everyone woke up this weekend and decided to all get scared at once about August 1st?

It is whales mass dumping everywhere to create the terror and they make money that way.

Sure there is some legitimacy to the fears about a blockchain split but believe it or not there are alot of people who don't follow this blocksize debate religiously and instead what gets their attention is falling prices because it affects their bottom line. It's the price action not the news that drives the panic.

BTCwriter

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Quote from: Metros on July 11, 2017, 05:24:21 AM

Isn't it should be other way around?

So this is not about The Flippening and Eth congesting Blockchain?
Oh my

layoutph

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Thats what I dont understand. As far as I know if you sell a bitcoin to buy an altcoin, then Bitcoin will go down, and Altcoin will GO UP. Then what the heck is happening BOTH Bitcoin and ALL Altcoins are digging their path to hell? I dont understand this bitcoin correction. Its so weird. If Bitcoin is down, there should be an ALTCOIN Party right?

Quote from: Metros on July 11, 2017, 05:24:21 AM

Isn't it should be other way around?

aaron2024

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Bitcoin has the best developers in the world, and it's supposed to be the safest and most stable cryptocurrency. If people can not trust it, why would they trust some random altcoin?

Mahanton

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Quote from: mktorn on July 11, 2017, 06:03:43 AM

This market is completely irrational, can't use common sense to figure it out at all. Panic selling spreads like wildfire across all coins

When one person do tell about a single fud then it would really scatter and as you said its just really like a wildfire,once it started it will really crawl into a large area and this thing we are witnessing now. FUDS are everywhere on cryptoworld specially on the upcoming event on august. We can see all reds on the market bitcoin together with all alts in the market. They are all connected and we should really be familiar on crypto market because they do really move on this way. A single news will really make effects on their prices.

xiaohang07

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Quote from: hase0278 on July 11, 2017, 07:03:11 AM

Quote from: Metros on July 11, 2017, 05:24:21 AM

Isn't it should be other way around?

It should be the other way around but there are various reasons why altcoins are falling too. Probably the main reason many altcoins are falling too because in anticipation of bitcoin split, many people are selling their altcoin stash, converts it into bitcoin and convert it into fiat to secure money.

Agree. Basically some people are cashing out to reduce the pressure induced by holding altcoins.

Prodigan786

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Quote from: hase0278 on July 11, 2017, 07:03:11 AM

Quote from: Metros on July 11, 2017, 05:24:21 AM

Isn't it should be other way around?

It should be the other way around but there are various reasons why altcoins are falling too. Probably the main reason many altcoins are falling too because in anticipation of bitcoin split, many people are selling their altcoin stash, converts it into bitcoin and convert it into fiat to secure money.

IT makes complete sense . I think i have to go with this point but i am finding the reason why altcoins are failing still i cant figure out is this fake dump or is there any genuine reason behind .Even Based on my assumption long time investors taking their profit and converting into Fiat .

fortress

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Some of it is probably due to the fact that most of these coins are premined, instamined or have an ICO. And when people holding large amounts of coins start to dump to get bitcoin at cheaper price, that's what happens...

densuj

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Quote from: mktorn on July 11, 2017, 06:03:43 AM

This market is completely irrational, can't use common sense to figure it out at all. Panic selling spreads like wildfire across all coins

Yes i agree with you market is completely irrational, that is why i have made thread on trading discussion section, trading is unpredictable job please check on here https://bitcointalksearch.org/topic/m.15776219
Many factors that make movement of price include psychology of trading, so we must need system of trading that gives constant profit from trading because the skill of analisys fundamental or technical are not enough.

Metros

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Quote from: hase0278 on July 11, 2017, 07:03:11 AM

Quote from: Metros on July 11, 2017, 05:24:21 AM

Isn't it should be other way around?

It should be the other way around but there are various reasons why altcoins are falling too. Probably the main reason many altcoins are falling too because in anticipation of bitcoin split, many people are selling their altcoin stash, converts it into bitcoin and convert it into fiat to secure money.

Damn that make sense now, silly me.

Thank you!

lizardbtc

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Quote from: Metros on July 11, 2017, 05:24:21 AM

Isn't it should be other way around?

When bitcoin is healthy people tend to buy alts and cash flow into them, when bitcoin is falling people want out and one of the easiest and most common ways to get out is through btc so most alts start to swap for bitcoin and then USD which causes more downfall of the alts and bitcoin. It was always like this if you are a wise trader you will know that this is the best time to buy alts as when there is a big fall most of the famous alts with high volume tend to try to correct and start in the green zone when you could sell.
Panic sellers see exit, while cleaver traders see an opportunity.

This is in my opinion the reason for alt fall so uncertainty about bitcoin (UASF) -> leads to uncertainty of the whole market, when btc dumps it pulls alts with it.

elite3000

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if people don't believe in Bitcoin, why would they believe in any other crypto?

they just cash out

talkbitcoin

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Quote from: mktorn on July 11, 2017, 06:03:43 AM

This market is completely irrational, can't use common sense to figure it out at all. Panic selling spreads like wildfire across all coins

actually not completely irrational!
there is some logic in there too.

it is not all panic selling it is the fake pumps. you are missing the point that any price is a value and a value comes from utilities and when there are no utilities there shouldn't be a value.

and when that happens prices become fake, become unstable and drop fast. people have been investing in many of the altcoins with the hope that one of them becomes as big as bitcoin. they thought they were early adopters like the investors in 2009-2010 of bitcoin. but when they face the reality they give up and dump. hence the price drops all over the altcoin market.

hase0278

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Quote from: Metros on July 11, 2017, 05:24:21 AM

Isn't it should be other way around?

It should be the other way around but there are various reasons why altcoins are falling too even if bitcoin is falling. Probably the main reason many altcoins are falling because in anticipation of bitcoin split, many people are selling their altcoin stash, converts it into bitcoin and convert it into fiat to secure money.

xbiv2

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mktorn

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This market is completely irrational, can't use common sense to figure it out at all. Panic selling spreads like wildfire across all coins

Topic: If all the FUD is about Bitcoin split, why Altcoins are falling? lol (Read 924 times)