If Bitcoin skyrockets, how will it affect alt coin prices? - page 2.

raven7886

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Quote from: tiggytomb on July 13, 2017, 02:29:49 AM

Altcoin prices will follow bitcoin as they are all traded against bitcoin so it plays a huge role, there are other markets also such as ETH and so on but if bitcoins price goes up or down the alt coins price ultimately follows.

Yes true saying it will not be wrong that the altcoin market is dependent on the bitcoin, the etherium is trying to build its own market and seeking to ways to work independently from the bitcoin through many ways such as by offering an ICO launching through it but still it is very much dependent on the bitcoin.

It has been noticed exclusively that bitcoin price affects the alts price with the rise and fall of the bitcoin price.

Coffee2015

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Nahl

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i think the price of altcoin also will increase and it does happened several times ago when bitcoin price reach $3000 majority altcoin also rise up even Doge has been surpassing 100 satoshi but only i think if bitcoin price skyrockets again increasing price for altcoin only happened for the altcoin which is had high volume support such as ETH, Dash or maybe Doge

Adbitco

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Quote from: SvenBomvolen on July 13, 2017, 05:57:26 AM

There is no doubt that such altcoins as Etherum and Litecoin will follow Bitcoin's price, but today we have so many altcoins and so many shitcoins among it, so I don't think that each one of all this mass will be covered in green.

Yes I am of the same opinion. A few of altcoins price will rise with the rise in bitcoin prices but not all of altcoins prices will rise. It's something which has happened already in the past and it has become almost like a trend.

Monnt

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Quote from: SvenBomvolen on July 13, 2017, 05:57:26 AM

There is no doubt that such altcoins as Etherum and Litecoin will follow Bitcoin's price, but today we have so many altcoins and so many shitcoins among it, so I don't think that each one of all this mass will be covered in green.

There were many occasions where litecoin went in opposite directions of bitcoin markets, I mean to say we cannot be sure what is going to happen when bitcoin will be skyrocketting. As per diversifying principle holding multiple altcoins may eliminate the risks of losing all at once. But the altcoins for holding should be chosen very carefully as there are numerous meaningless coins are being introduced everyday.

But now a days if a coin is moving along with bitcoin prices if it gets enough bumping manipulators. There will be no need to consider its background just having enough investors makes a coin worthy. That may be a bad directions for traders and investors.

SvenBomvolen

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There is no doubt that such altcoins as Etherum and Litecoin will follow Bitcoin's price, but today we have so many altcoins and so many shitcoins among it, so I don't think that each one of all this mass will be covered in green.

Frost

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After yesterday's incident I think for the future bitcoin prices will be the benchmark for altcoins prices and will follow if prices move up and down.

wuvdoll

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Quote from: Dudeperfect on July 13, 2017, 03:42:22 AM

I am not 100% sure but it but I think people try to hold their investments in crypto currencies and they are scared about the price volatility so as soon as the price of bitcoin falls, bitcoin holders immediately transfer their funds in BTC to altcoins and vice versa so it is kind of correlated with each other. Usually, it happens with top 5 alt coins and if I am not wrong then we might see a downfall in the price of top altcoins after August when bitcoin rally will start.

There were times where bitcoins and altcoins are getting traded reversely but if we notice in last six to eight months altcoins and bitcoins are jointly moving back and forth as new investors are deciding the directions of entire cryptocurrencies' markets. I guess this may continue even after August as nothing is going to stop new people adopting cryptocurrencies.

Dudeperfect

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I am not 100% sure but it but I think people try to hold their investments in crypto currencies and they are scared about the price volatility so as soon as the price of bitcoin falls, bitcoin holders immediately transfer their funds in BTC to altcoins and vice versa so it is kind of correlated with each other. Usually, it happens with top 5 alt coins and if I am not wrong then we might see a downfall in the price of top altcoins after August when bitcoin rally will start.

tiggytomb

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Altcoin prices will follow bitcoin as they are all traded against bitcoin so it plays a huge role, there are other markets also such as ETH and so on but if bitcoins price goes up or down the alt coins price ultimately follows.

arpon11

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Definitely if the price of bitcoin skyrocket others coins will definitely skyrocket with it as we have been seen in price action. Bitcoin is like a gold standard for others crytocurrency as such what ever happen to bitcoin affect others crytocurrency be it positive or negative. You should study the price action for the past few years and you will understand what I am talking about.

Bitsbytes

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What I have seen if Bitcoin skyrockets the rest of the alts are down for a few days until bitcoin consolidates and then the alts usually go back up.

Zemangat

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It is possible, but the majority of ETH trading actually use bitcoin so it's harder for people who just know cryptocurrency to get / use ethereum if not through bitcoin first, altcoin market dependence on bitcoin is still very big, still like the dependency of developing country currencies to US dollar. Changing Rp to US $ is easier and cheaper than trying to directly convert Rp into Indian Rupee or Bolivarian Venezuela.

ladydark

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Quote from: sweetbet on July 11, 2017, 04:24:08 PM

This might be a dumb question, but I thought I'd ask it anyway. I've noticed that every time Bitcoin significantly drops it drags down the prices of alt coins. Now let's assume that the price of Bitcoin skyrockets in August. Would that increase the price of most alt coins as a result?

If bitcoin price rise high in august after segwit activation,then definitely altcoins price would start falling down.It is a normal process since most of altcoin investors would start selling their coins in order to buy bitcoins.Whenever bitcoin rally occurs,almost all altcoins start bleeding.

amskas

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If we want to have a real future for crypto, we need to get rid of the dependency/relationship with BTC. As BTC drops it could take the whole market down, while tech is non comparable. It works the other way around as well, if BTC goes up, everything goes up and it is creating value for shit coins which eventually do crypto harm

JimmieA

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There is always a conversion ratio between btc and altcoins, so as the btc price increases, it is inevitable that the price of the altcoins will also increase. But after August 1st, it's not really sure when the changes will be made public. But really people are in wait for the rise of the altcoins.

Mahanton

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Quote from: phuclzu12 on July 12, 2017, 06:29:13 AM

Quote from: passionsurf on July 11, 2017, 04:35:13 PM

Quote from: sweetbet on July 11, 2017, 04:24:08 PM

This might be a dumb question, but I thought I'd ask it anyway. I've noticed that every time Bitcoin significantly drops it drags down the prices of alt coins. Now let's assume that the price of Bitcoin skyrockets in August. Would that increase the price of most alt coins as a result?

BTC going up means more people are buying BTC. When more people are buying BTC, then there is theoretically more BTC available with which to buy altcoins, so naturally the altcoin prices will rise too.

Well, this is rules in 2017 of crypto market, although in history when Bitcoin rising up, the price of Altcoin will falldown and vice versa.

In present, status SegWit2x of Bitcoin really damage the price of crypto market, nearest death we can see the scared of trader increasing

It cant really be avoided that traders would really be afraid when they saw that their coin are gradually decreasing but as of now we cant see coins that going nearest to its death and now they are almost going up again turning into greens after that bloody field we did saw yesterdays and the previous days.
Price movements between bitcoin and altcoin isnt anytime that they are irrational because sometimes we do see them on opposite ways. When bitcoin price tends to go up some coins go down and some would go up or even they all go up joining on the increase. Price movements are all in random which we wont really know on where it would go.

BitcoinHodler

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HODLing is an art, not just a word...

if you look back at earlier this year when the big altcoin rally started for every single altcoin you can see the reason for all these rises began with the uncertainty about bitcoin and its future. because there were a lot of FUD circling bitcoin!

now we are here at the crossroad where the fate of bitcoin will be determined. and when bitcoin implements the scaling solution in August everything will be clear in the path ahead and the big bitcoin skyrocket
by that time i expect an even bigger drop in altcoins because the money will exit and come back to bitcoin.

phuclzu12

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Quote from: passionsurf on July 11, 2017, 04:35:13 PM

Quote from: sweetbet on July 11, 2017, 04:24:08 PM

This might be a dumb question, but I thought I'd ask it anyway. I've noticed that every time Bitcoin significantly drops it drags down the prices of alt coins. Now let's assume that the price of Bitcoin skyrockets in August. Would that increase the price of most alt coins as a result?

BTC going up means more people are buying BTC. When more people are buying BTC, then there is theoretically more BTC available with which to buy altcoins, so naturally the altcoin prices will rise too.

Well, this is rules in 2017 of crypto market, although in history when Bitcoin rising up, the price of Altcoin will falldown and vice versa.

In present, status SegWit2x of Bitcoin really damage the price of crypto market, nearest death we can see the scared of trader increasing

gentlemand

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Welt Am Draht

It depends on the reason for the skyrocket. Alts would've fallen through the floor if the ETF had passed because Bitcoin would then be at a level of legitimacy they couldn't attain.

Perhaps if there's successful scaling that goes smoothly that'll take away some of the perceived 'benefits' of alts too and they'll fall, even though it's all fictional anyway.

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