it's pretty clear that the money would move to altcoin, you see the last dump caused a spike in all the big alt like etheruem and dash, this time won't be different
besides i don't think the value will ever go below 1/4($300-350) of what it is know, because it would be under the electricity cost of the miners, miners will pump the coin long before it happen
Topic: If BTC gets a Dump - page 3. (Read 2959 times)
Good question.
There isn't a direct correlation. So if Bitcoin goes one direction you won't alway see all or any one alt coin go a specific direction as a result. We need to talk in possibilities.
First, some alt coins might see a boost. But this only applies to the select few best of the alt coins. Ethereum and Litecoin are the best next options. I'll confess that I don't know much about Dash but it could be equally high on the alternative list.
Second, some alt coins might also see a drop. We've got a lot of simultaneous growth going on now...which eventually encourage people to "lock in some gains." Meaning, after a good run, people sell to reclaim their investment, to ensure they've taken advantage of the run, because they think the run is over, etc.
Third, why not buy more bitcoin if the price takes a hit? What I'm really getting at is focus on the "fundamentals" of the coin and the climate. Playing what you think are trends is rather foolish in investing, and outright insane in the cryptocurrency industry. There's just zero information that can be used to prescribe future cryptocoin activity.
Last, I don't think another coin will take over for Bitcoin. If Bitcoin dies the alts will go with it, the concept will have failed. The only potential survivor is Ethereum, which isn't a coin or open currency and it's future is based on the success of businesses (A) using blockchain technology for their business and (B) the desire of these businesses to not write their own blockchain-based platform (which is the core product Ethereum provides).
There isn't a direct correlation. So if Bitcoin goes one direction you won't alway see all or any one alt coin go a specific direction as a result. We need to talk in possibilities.
First, some alt coins might see a boost. But this only applies to the select few best of the alt coins. Ethereum and Litecoin are the best next options. I'll confess that I don't know much about Dash but it could be equally high on the alternative list.
Second, some alt coins might also see a drop. We've got a lot of simultaneous growth going on now...which eventually encourage people to "lock in some gains." Meaning, after a good run, people sell to reclaim their investment, to ensure they've taken advantage of the run, because they think the run is over, etc.
Third, why not buy more bitcoin if the price takes a hit? What I'm really getting at is focus on the "fundamentals" of the coin and the climate. Playing what you think are trends is rather foolish in investing, and outright insane in the cryptocurrency industry. There's just zero information that can be used to prescribe future cryptocoin activity.
Last, I don't think another coin will take over for Bitcoin. If Bitcoin dies the alts will go with it, the concept will have failed. The only potential survivor is Ethereum, which isn't a coin or open currency and it's future is based on the success of businesses (A) using blockchain technology for their business and (B) the desire of these businesses to not write their own blockchain-based platform (which is the core product Ethereum provides).
What will happen to all the altcoin if Bitcoin experiences a big dump? For example lets say BTC price goes under $500 or even $200, how it will affect the prices of altcoin? Will one or two top crypto currencies at marketcap like Ethereum, Litecoin or Dash will take over and become the number one crypto currency and have higher value than bitcoin? Or do all the altcoin also fall with bitcoin?
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