Money flowing out of BTC into Altcoins - page 8.

eXtremal

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Quote from: Cointalk83 on May 06, 2021, 03:59:47 PM

I'm just wondering whether BTC has hit it's peak for this cycle. It's been trading sidesways 55k-60k for the last 2 months
while altcoins have rallied. From historical perspective, for those were in it in 2017, did bitcoin ever regain it's dominance after
altcoin season began. I guess what i'm asking is whether I should liquidate my bitcoin position and chase altcoins or whether
there is more room for BTC to go this year.

I don't think it will be the same as 2017. When I first got in 2017 it was just temporary hype, like coin ponzi, a ponzi site that fooled the public a lot. Bitcoin is now entered by Tesla. I think the data is dominant, the length of the market is bulish, and the altcoin season will be different in 2017. At the moment there are no exact predictions in my opinion.

jrrsparkles

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Quote from: Cointalk83 on May 06, 2021, 03:59:47 PM

I'm just wondering whether BTC has hit it's peak for this cycle. It's been trading sidesways 55k-60k for the last 2 months
while altcoins have rallied. From historical perspective, for those were in it in 2017, did bitcoin ever regain it's dominance after
altcoin season began. I guess what i'm asking is whether I should liquidate my bitcoin position and chase altcoins or whether
there is more room for BTC to go this year.

Some stocks crashed and real estate is doing very bad and also Gold is not showing any growth at the international market so we should calculate all these things as well not just the bitcoins alone then we can get the insights of how much the crypto market's cap increased in the past months instead of calculating the price changes between the coins.

iv4n

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Quote from: danherbias07 on May 08, 2021, 12:33:16 AM

There's always a room for Bitcoin to grow even in that year.
It's not actually an altcoin season way back 2017 but Bitcoin and Ethereum. All altcoins are getting the rally up because of the two main coins pumping for ATH until it ended 2018 and slowed down.

If you are looking for profits then decide fast because this sudden boost with altcoins could end quickly.
Ethereum and BNB are growing too fast and I think that's the best option out there if not NFT's. But bro, they are really getting expensive.

I like your words, there's always enough free space for Bitcoin price to grow... and this year is in the first half, we have another half, and we all know what can happen in crypto in just a few weeks, and we have 7 more months!
Now it's the time for collecting profit, everything is a lot higher than a few months back! Holding is always a good option, but moving some funds from one investment to another can be good from time to time! I guess all that depends on the investor and his goals!
I don't know what is the smart thing to do now, but having some good coins on holding for the long run is a must... in the same time using profits from this rise and trying out some new opportunities is also fine, who doesn't try can't do a lot!

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Quote from: Cointalk83 on May 06, 2021, 03:59:47 PM

I'm just wondering whether BTC has hit it's peak for this cycle. It's been trading sidesways 55k-60k for the last 2 months
while altcoins have rallied. From historical perspective, for those were in it in 2017, did bitcoin ever regain it's dominance after
altcoin season began. I guess what i'm asking is whether I should liquidate my bitcoin position and chase altcoins or whether
there is more room for BTC to go this year.

Bitcoin is consolidating between 50-60K for last few weeks and i am sure it will move much further up. There is no point to believe that 64K was the peak of the bull market. The altcoins are giving good returns currently but they will dump hard as soon as bitcoin again crosses its All time high.

Sithara007

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Cash is not flowing from Bitcoin to altcoins. The current altcoin rally is fueled by new investors, who are preferring alts such as Ethereum, Doge and BNB for higher returns. Very few of the Bitcoin investors are selling their coins and shifting to alts. I have seen this pattern in Q4 2017 as well. Back then a lot of shitcoins went over the roof, because of huge inflows from noobs. And the same thing is happening now. Dogecoin is on its way to $100 billion market cap, while XRP has already crossed the $50 billion level.

bitzizzix

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Altcoins are on the rise because bitcoin is still at an all-time high and the rise in altcoins is just adjusting to the already too high price of bitcoin, and I believe that if the price of bitcoin goes down, the price of altcoin will drop even drastically and vice versa.
and in the end the two will go hand in hand, and another reason why most people tend to switch to altcoins is because the price of bitcoin is too high.
and my choice is still holding bitcoin because in my opinion there is still upside potential to reach the highest price.

danherbias07

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There's always a room for Bitcoin to grow even in that year.
It's not actually an altcoin season way back 2017 but Bitcoin and Ethereum. All altcoins are getting the rally up because of the two main coins pumping for ATH until it ended 2018 and slowed down.

If you are looking for profits then decide fast because this sudden boost with altcoins could end quickly.
Ethereum and BNB are growing too fast and I think that's the best option out there if not NFT's. But bro, they are really getting expensive.

ilovealtcoins

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Cash flows from Bitcoin flow into altcoins and then either withdraw from the market or flow back to Bitcoin again. We are in a familiar market scenario.
With the market currently in the bull run, altcoins will continue to rise in price. In the complete situation where the market is at full increase, be careful before entering the order. Best to withdraw all your money out of the market and observe the next action. We can have less profit so that losses happen when we can anticipate them.

iTradeChips

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What I think at this point is that it will a risky move on your part if you are going to convert your Bitcoins and use it to buy alts. The reason why I said that is because if you are going to do it now, come think of it, all of the alts for the past few weeks have already reached their peak and are now either on a plateau or going on a spiral down. You can try if you are confident that the altcoin is sure to go up. But anyway it is your money so all of us are just giving tips and it is up to you to decide really.

MoneyJ

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Well btc has reached its peak some strategy may be to move the load to new opportunities that are on the rise. Doge has done its tremendous rise this past months. Thanks to Elon Musk for promoting. But chances are BNB and Ethereum would most benefit the situation.

TribalBob

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liquidity of all BTC is the wrong decision in my opinion, because BTC is the number 1 coin and will not lose even if the dump. btc will still be expensive,
so just keep on Bitcoin, and buy altcoins with other free funds and choose altcoins that have good potential like the current BNB

odukoyaewatomi27

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There is a similar pattern to this. The same thing happened in 2018, when Bitcoin got to it all time high then, it consolidated for a while when altcoins were busy mooning. Then after that there was a big dip in the market. I just hope this one is different

aemma

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A tough question indeed but looking at Bitcoin, it has grown quite a lot and many people who missed that opportunity of acquiring more Bitcoin will go for it through altcoins hence the reason more money is moving out of Bitcoin into altcoins and the more the Bitcoin dominance drops, the more altcoins grows further leading to altcoin season.
In addition, in the aspect of Bitcoin growth, I believe there is still more room for growth because it looks like institutional investors are not done with it, as they keeps buying. However, if I am to suggest, if you have the means to enter altcoins without selling much of Bitcoin then you can give it a shot, go for potential altcoins get the profit and buy back more Bitcoin.

el kaka22

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Isn't it normal? During 2017 it happened as well, when the price of bitcoin failed to go over 20k people saw that making 2x or 3x or even 5x profit (and sometimes even higher) on bitcoin is not easy, it would take a lot of money and a very hard work and tons of good news with bunch of companies going in etc etc, so it is a hard one to make it go up.

But, if you want the same on some other coin, all you have to do is shill the same coin over and over again and you will end up with something that is as much as 10x because low marketcap coins could go up very easily, just one guy buying 100k worth could make it go up 2x very easily for example for most low cap ones. That is the obvious reason why bitcoin is not going up too much while alts are skyrocketing, because it requires a lot less money to take them higher and people prefer the easier method to profit.

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Quote from: go4crypto on May 07, 2021, 02:02:22 PM

BTC has not peaked by any means. Its rise has been mild so far and it should go near $100K at least. Alts outperforming BTC is a great sign for the best phase of the crypto bull market.

At present many of them I know are more interested in altcoins and looking to accumulate as much a possible. Some getting converted their btc to altcoins, might be just want to catch the trained as seems to be season and altcoins rising very quickly so making some quick profits and may convert back again to btc later on.

go4crypto

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BTC has not peaked by any means. Its rise has been mild so far and it should go near $100K at least. Alts outperforming BTC is a great sign for the best phase of the crypto bull market.

Similificator

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I wouldn't say that the idea is bad op, but just remember to leave some after you take profits and invest into altcoins. Then, if ever you get to have profits also from these altcoins that you wanna invest into, try to get a fraction of it also to buy back bitcoin and other reputable coins like ethereum and so on. At least that's what I do. Still, it's your choice. If you get lucky and gain profits, then good. If not, then at keast you learned something from that experience. Just make sure to never forget having allocation for emergency funds for unprecedented scenarios that may happen. Good luck op.

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Quote from: Cointalk83 on May 06, 2021, 03:59:47 PM

I'm just wondering whether BTC has hit it's peak for this cycle. It's been trading sidesways 55k-60k for the last 2 months
while altcoins have rallied. From historical perspective, for those were in it in 2017, did bitcoin ever regain it's dominance after
altcoin season began. I guess what i'm asking is whether I should liquidate my bitcoin position and chase altcoins or whether
there is more room for BTC to go this year.

In general, we can say that a lot of capital has been poured into altcoins lately. Bitcoin's price dominance fell to its current 44.7 percent, while ethereum's dominance rose to 17 percent. So far, bitcoin has entrenched itself in the price range from $ 50,000 to $ 60,000, and experts note that investors are not very eager to invest their money in it at such a high price value. To overcome the next price barriers for bitcoin, most likely, it will take a little longer for consolidation. It should still grow before the summer and especially in the fall. At the same time, we expect the altcoin season to continue, however, it is very difficult to predict the price growth of this market segment.

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Quote from: Cointalk83 on May 06, 2021, 03:59:47 PM

I'm just wondering whether BTC has hit it's peak for this cycle. It's been trading sidesways 55k-60k for the last 2 months
while altcoins have rallied. From historical perspective, for those were in it in 2017, did bitcoin ever regain it's dominance after
altcoin season began. I guess what i'm asking is whether I should liquidate my bitcoin position and chase altcoins or whether
there is more room for BTC to go this year.

It's good that the price of bitcoin is right now kind of between (52k - 60k) instead of going crazy. As for altcoins, people are jumping into it for making some quick profit. It happens all the time. Most people are trading their bitcoin for altcoin (hence we are seeing the price of bitcoin jumping up and down) right now. Once this "trend" is over, everyone is going to take their profit by dumping their altcoins and then go back to bitcoin.
And no. Don't do it now. It's already too late (i guess? But you never know). Look at the price now. Don't liquidate your bitcoin and join altcoins. You might regret.

jinxing

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Quote from: Cointalk83 on May 06, 2021, 03:59:47 PM

I'm just wondering whether BTC has hit it's peak for this cycle. It's been trading sidesways 55k-60k for the last 2 months
while altcoins have rallied. From historical perspective, for those were in it in 2017, did bitcoin ever regain it's dominance after
altcoin season began. I guess what i'm asking is whether I should liquidate my bitcoin position and chase altcoins or whether
there is more room for BTC to go this year.

Ethereum did manage to dominate Bitcoin in the second quarter of this year, but was unable to reduce its value so sharply, maybe this is just a slight correction that happened because history will not always repeat itself when Bitcoin peaked at the end of 2017 yesterday, then after that Altcoin was able to lead the market . but there are still many who think the peak of Bitcoin's increase does not stop here, there will be more increases that will occur when Bitcoin dominates the market again.

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