If Bitcoin skyrockets, how will it affect alt coin prices?

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Quote from: lady pink on September 21, 2017, 01:43:29 AM

Quote from: Sobol101 on September 21, 2017, 01:30:38 AM

Quote from: sweetbet on July 11, 2017, 05:24:08 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?

Everything depends, if bitcoin takes off, then other coins will not remain in the shadows and will also tend to go up as well as altos. Therefore, we are waiting for the moment.

Why is it so? why all the altcoins are dependent on bitcoin? What is the relationship of altcoins with the bitcoin? If bitcoin price is to be be praised then what are the atcoins here for? It simply indicates that bitcoin is the genuine and the rest are just useless clones.

When bitcoin goes up it attracts newbies who come into the cryptocurrency space and unvestigate it. They often feel bitcoin is "too expensive" and decide to invest in alts because they might be "the next big thing". Which is why a bitcoin rise tends to lift the whole cryptocurrency space.

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Quote from: flower1024 on September 21, 2017, 08:01:46 AM

Quote from: fedoralite on September 21, 2017, 03:56:12 AM

Quote from: RealPhotoshoper on September 21, 2017, 01:45:47 AM

Quote from: nkarm1 on September 20, 2017, 09:57:27 PM

Most of all will rise with it so as with falls. It's just because of one reason, "almost" all of this altcoins market cap are usually funded by bitcoin. Same as etherium, where there are many situations that when bitcoin rise, it also increases it's price. But somehow "unsual" things happened, they go with opposite directions. Maybe because of individual news or events like hard fork in alts, like in etherium when they are about to fork the network most of the users take advantage of it to dump. Or sometimes, when bitcoin is about to rise people use to dump altcoins to switch to Btc. So it's all of a matter of time and events. But usually they go with bitcoin.

Actually when the bitcoin price rise so high altcoin went down and make an adjustment slowly.
It cost quite a lot of time , and you could make profit with that situation.
All you need is an experience deal with similar market condition and a lot of patience.

That's the basis on why I can tell that altcoins are just relying with bitcoins since if bitcoins will down all altcoins price are affected eventhough their satoshi value will rise that's why all people hopes that btc will not fall since all of us will get affected if the top 1 coin will fall.

The main altcoins price depends on bitcoin price. When the bitcoin price come down all these coins prices also come down. But when the bitcoin price is skyrocket it affects only for few coin price and rest of other coins will be stable. But when it falls it will affect to all altcoins. How it will affect, even I don't know the exact reason. I think people will tempt to see bitcoin price and they hope altcoin price also increase so they will start to buy altcoins and the price will increase.

But honestly not all altcoin are affected there are still few altcoin are stable in movement of the price and sometimes there are altcoin are increasing more value than bitcoin ..
And i think that is why altcoin are decreasing its value its because the exchanges are relaying in bitcoin price not directly in altcoin to usd..
Well as i can notice lots of altcoin are moving down when the price of bitcoin was decreasing and i think it is a part of panic selling there traders are selling their altcoin in bitcoin and exchange them into usd. that is why altcoin are also decreases.

speedy963

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Well before, i can say that when the bitcoin price starts to rises, altcoins will be down shortly. In my opinion alt coin holders starts to panic at that time then they will dump instantly to convert to bitcoin because they are following the price of bitcoin.

Shinza

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Perhaps the altcoins will also increase but not follow the same ratio as btc. Because the exchange rate between btc and altcoins is not always the same, and not all altcoins increase. Some altcoins are created without any relation to btc. But for btc to rise again on September 1st, it may take some time for the market to stabilize, but prices may not continue to fall, it will remain at current prices.

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Quote from: fedoralite on September 21, 2017, 03:56:12 AM

Quote from: RealPhotoshoper on September 21, 2017, 01:45:47 AM

Quote from: nkarm1 on September 20, 2017, 09:57:27 PM

Most of all will rise with it so as with falls. It's just because of one reason, "almost" all of this altcoins market cap are usually funded by bitcoin. Same as etherium, where there are many situations that when bitcoin rise, it also increases it's price. But somehow "unsual" things happened, they go with opposite directions. Maybe because of individual news or events like hard fork in alts, like in etherium when they are about to fork the network most of the users take advantage of it to dump. Or sometimes, when bitcoin is about to rise people use to dump altcoins to switch to Btc. So it's all of a matter of time and events. But usually they go with bitcoin.

Actually when the bitcoin price rise so high altcoin went down and make an adjustment slowly.
It cost quite a lot of time , and you could make profit with that situation.
All you need is an experience deal with similar market condition and a lot of patience.

That's the basis on why I can tell that altcoins are just relying with bitcoins since if bitcoins will down all altcoins price are affected eventhough their satoshi value will rise that's why all people hopes that btc will not fall since all of us will get affected if the top 1 coin will fall.

The main altcoins price depends on bitcoin price. When the bitcoin price come down all these coins prices also come down. But when the bitcoin price is skyrocket it affects only for few coin price and rest of other coins will be stable. But when it falls it will affect to all altcoins. How it will affect, even I don't know the exact reason. I think people will tempt to see bitcoin price and they hope altcoin price also increase so they will start to buy altcoins and the price will increase.

fedoralite

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Quote from: RealPhotoshoper on September 21, 2017, 01:45:47 AM

Quote from: nkarm1 on September 20, 2017, 09:57:27 PM

Most of all will rise with it so as with falls. It's just because of one reason, "almost" all of this altcoins market cap are usually funded by bitcoin. Same as etherium, where there are many situations that when bitcoin rise, it also increases it's price. But somehow "unsual" things happened, they go with opposite directions. Maybe because of individual news or events like hard fork in alts, like in etherium when they are about to fork the network most of the users take advantage of it to dump. Or sometimes, when bitcoin is about to rise people use to dump altcoins to switch to Btc. So it's all of a matter of time and events. But usually they go with bitcoin.

Actually when the bitcoin price rise so high altcoin went down and make an adjustment slowly.
It cost quite a lot of time , and you could make profit with that situation.
All you need is an experience deal with similar market condition and a lot of patience.

That's the basis on why I can tell that altcoins are just relying with bitcoins since if bitcoins will down all altcoins price are affected eventhough their satoshi value will rise that's why all people hopes that btc will not fall since all of us will get affected if the top 1 coin will fall.

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Quote from: RealPhotoshoper on September 21, 2017, 01:45:47 AM

Quote from: nkarm1 on September 20, 2017, 09:57:27 PM

Most of all will rise with it so as with falls. It's just because of one reason, "almost" all of this altcoins market cap are usually funded by bitcoin. Same as etherium, where there are many situations that when bitcoin rise, it also increases it's price. But somehow "unsual" things happened, they go with opposite directions. Maybe because of individual news or events like hard fork in alts, like in etherium when they are about to fork the network most of the users take advantage of it to dump. Or sometimes, when bitcoin is about to rise people use to dump altcoins to switch to Btc. So it's all of a matter of time and events. But usually they go with bitcoin.

Actually when the bitcoin price rise so high altcoin went down and make an adjustment slowly.
It cost quite a lot of time , and you could make profit with that situation.
All you need is an experience deal with similar market condition and a lot of patience.

According to me everything depends on the public. If people are buying a particular coin then its price will increase and vice versa for sure.
If Bitcoin's price is decreasing it means somewhere around the globe people are selling their BTC. Some people sell it to buy altcoins and some exchange it for fiat. If Bitcoin's price is increasing it means people are buying BTC. Same as above, people can buy BTC with fiat or sell their altcoins in exchange for BTC. So it all depends on how people are reacting in a particular situation which makes the price fluctuations in the market.

RealPhotoshoper

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Quote from: nkarm1 on September 20, 2017, 09:57:27 PM

Most of all will rise with it so as with falls. It's just because of one reason, "almost" all of this altcoins market cap are usually funded by bitcoin. Same as etherium, where there are many situations that when bitcoin rise, it also increases it's price. But somehow "unsual" things happened, they go with opposite directions. Maybe because of individual news or events like hard fork in alts, like in etherium when they are about to fork the network most of the users take advantage of it to dump. Or sometimes, when bitcoin is about to rise people use to dump altcoins to switch to Btc. So it's all of a matter of time and events. But usually they go with bitcoin.

Actually when the bitcoin price rise so high altcoin went down and make an adjustment slowly.
It cost quite a lot of time , and you could make profit with that situation.
All you need is an experience deal with similar market condition and a lot of patience.

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Quote from: Sobol101 on September 21, 2017, 01:30:38 AM

Quote from: sweetbet on July 11, 2017, 05:24:08 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?

Everything depends, if bitcoin takes off, then other coins will not remain in the shadows and will also tend to go up as well as altos. Therefore, we are waiting for the moment.

Why is it so? why all the altcoins are dependent on bitcoin? What is the relationship of altcoins with the bitcoin? If bitcoin price is to be be praised then what are the atcoins here for? It simply indicates that bitcoin is the genuine and the rest are just useless clones.

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Quote from: sweetbet on July 11, 2017, 05:24:08 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?

Everything depends, if bitcoin takes off, then other coins will not remain in the shadows and will also tend to go up as well as altos. Therefore, we are waiting for the moment.

nkarm1

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Most of all will rise with it so as with falls. It's just because of one reason, "almost" all of this altcoins market cap are usually funded by bitcoin. Same as etherium, where there are many situations that when bitcoin rise, it also increases it's price. But somehow "unsual" things happened, they go with opposite directions. Maybe because of individual news or events like hard fork in alts, like in etherium when they are about to fork the network most of the users take advantage of it to dump. Or sometimes, when bitcoin is about to rise people use to dump altcoins to switch to Btc. So it's all of a matter of time and events. But usually they go with bitcoin.

morantis2015

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not much at all. bitcoin is a gateway to those coins through the exchanges, but there is also litecoin and doge most of the time, it is not that critical and even a higher price still allows for the deposit of bitcoin and use

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Quote from: zekeshawn on September 20, 2017, 09:09:14 PM

I have witnessed bitcoin skyrcokets many times already and as what I observe every time this happen almost all altcoins dump maybe because people want to hold bitcoin and then they will convert it to fiat after the new ath will be reach.

I'm also noticed that the altcoins price drops when bitcoin reached new ath. Bitcoin have a big influence in the market that can cause its price high and affect all the altcoins because most of the traders in the market are depends in bitcoin price.

zekeshawn

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I have witnessed bitcoin skyrcokets many times already and as what I observe every time this happen almost all altcoins dump maybe because people want to hold bitcoin and then they will convert it to fiat after the new ath will be reach.

Nerman

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We cannot assure that alt coins will follow, but if we are going to base it on previous price action of Bitcoin majority of the Altcoins followed its price action.

nydiacaskey01

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Last time Bitcoin reached $5000 altcoin prices dropped as altcoin holders dumped in exchange of BTC to convert to fiat or USD for profits. Maybe they have this feeling that BTC may have reached 5k but it will not last and go down again to 4k so they took advantage of the moment. But if BTC reached a certain level that or all time high and settles at that price, price of altcoin will follow as well.

Bagaji

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It has happen in time without number, any time the market value of bitcoin drop significantly the market value of most altcoin will fall significantly. And this happen most time because in my own opinion bitcoin is an independent while altcoin are dependent variable on bitcoin

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They are interconnected. Bitcoin is like a marker for all other cryptocurrencies. If it goes up - altcoins will also go up.

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Quote from: Willitivity on July 15, 2017, 02:35:28 PM

Altcoins are proportionately tied to bitcoins.
When the price of bitcoin increases, it brings the Altcoins up and vice versa.
But when the increase is exponential, it works in reverse.
A gradual increase is needed for the Altcoins to move in well.

So true. Bitcoin prices go down these days. Altcoins fall as well because people find the price of bitcoin is at an acceptable point to buy again. But if the price going to skyrocket, then there might be a good chance for all coins to rise after that skyrocket.

Willitivity

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Altcoins are proportionately tied to bitcoins.
When the price of bitcoin increases, it brings the Altcoins up and vice versa.
But when the increase is exponential, it works in reverse.
A gradual increase is needed for the Altcoins to move in well.

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Quote from: tiggytomb on July 13, 2017, 03:29:49 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.

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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

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Quote from: SvenBomvolen on July 13, 2017, 06:57:26 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.

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Quote from: SvenBomvolen on July 13, 2017, 06:57:26 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, 04:42:22 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.

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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.

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Quote from: sweetbet on July 11, 2017, 05:24:08 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.

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Quote from: phuclzu12 on July 12, 2017, 07:29:13 AM

Quote from: passionsurf on July 11, 2017, 05:35:13 PM

Quote from: sweetbet on July 11, 2017, 05:24:08 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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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.

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Quote from: passionsurf on July 11, 2017, 05:35:13 PM

Quote from: sweetbet on July 11, 2017, 05:24:08 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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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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Quote from: HeRetiK on July 12, 2017, 02:54:54 AM

Quote from: sweetbet on July 11, 2017, 05:24:08 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?

Depends on your point of view. From a Fiat perspective, most alts usually stay at more or less the same level. Which means that from a Bitcoin perspective, they drop like hell. Most alts only flourish when Bitcoin is somewhat stable or slightly growing.

Indeed. And those of us who were expecting btc to surge up may need to reevaluate our predictions or we may end up unprepared for a long 2017. Though i'm not yet losing hope here. Anyways the current price is still way above btc's price at this time last year. Hat goes with my other alt investments which are now all below the entry point when i bought them

HeRetiK

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Quote from: sweetbet on July 11, 2017, 05:24:08 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?

Depends on your point of view. From a Fiat perspective, most alts usually stay at more or less the same level. Which means that from a Bitcoin perspective, they drop like hell. Most alts only flourish when Bitcoin is somewhat stable or slightly growing.

ladydark

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Quote from: sweetbet on July 11, 2017, 05:24:08 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?

As usual,when bitcoin price rises,altcoins would start bleeding and their price would start falling.It would create panic among investors and they would immediately sell their altcoins to buy bitcoins which would further make altcoins price to fall more.Such a situation would only change when bitcoin price once again falls a little.

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Quote from: sweetbet on July 11, 2017, 05:24:08 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?

Sometimes the reason for a drop or rise in bitcoin is the same reason for a rise or fall in altcoins as well. But other times they can be completely independent of each other. For example if there is some positive news out about Ethereum, then that coin may rise in price relative to bitcoin. The same is true for any other coin. And even if they all drop or rise at the same time, the percentage change will not all be the same. You can't really predict altcoin performance based on bitcoin performance.

TravelMug

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Quote from: sweetbet on July 11, 2017, 05:24:08 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?

Based on observation, bitcoin price rise equates to some altcoins going places as well. Yes, I'm assuming that it drags the price. However, I don't know what's the reason behind it.

Quote from: BigBoy89 on July 11, 2017, 05:26:53 PM

Of course and the alts will skyrockets. But bitcoin is not going there any time soon. May be after Christmas holidays and early 2018. But at this point seems 2017 will a hard year from now on for BTC. Especially with the SegWit drama around and constantly moving dates about it.

Its too early to speculate what's the price of bitcoin after the activation. But I think it will dip a little then bounce back and the price moving up at the end of 2017. I don't think we need to wait after Christmas to see strong price.

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Quote from: sweetbet on July 11, 2017, 05:24:08 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.

code92

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Well its proportional,so yeah like the guys said,if btc skyrockets so will altcoins

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Of course and the alts will skyrockets. But bitcoin is not going there any time soon. May be after Christmas holidays and early 2018. But at this point seems 2017 will a hard year from now on for BTC. Especially with the SegWit drama around and constantly moving dates about it.

sweetbet

full member

Activity: 961

Merit: 110

SweetBet.com

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?

Topic: If Bitcoin skyrockets, how will it affect alt coin prices? (Read 1864 times)