Most Large-Cap Alts Lose Value Against BTC. - page 2.

masterrex

full member

Activity: 1820

Merit: 107

Quote from: MiF on October 05, 2021, 11:32:32 PM

Altcoins stall against btc, Most altcoins followed btc BTC’s performance lately, if btc is bullish altcoins will also bullish, but the situation has changed in the past 24 hours. Most of the top altcoins dropped while btc is up.

Cardano, Ripple, Solana, Polkadot, Binance Coin, Litecoin, Terra, and Algorand have also lost chunks of value against the largest cryptocurrency. I think this dropping of altcoin price is temporary and soon it will followed btc what are your insights or thoughts about this?

I think that's not happened always, Bitcoin price might be a good indicator if the crypto market is bullish or bearish, but it was very different when it comes to altcoins maybe there are some reasons why the altcoin's prices are dropping fast like FUD and many other things that affecting the cryptocurrency market.

Jackl87

sr. member

Activity: 1722

Merit: 269

Quote from: MiF on October 05, 2021, 11:32:32 PM

Altcoins stall against btc, Most altcoins followed btc BTC’s performance lately, if btc is bullish altcoins will also bullish, but the situation has changed in the past 24 hours. Most of the top altcoins dropped while btc is up.

Cardano, Ripple, Solana, Polkadot, Binance Coin, Litecoin, Terra, and Algorand have also lost chunks of value against the largest cryptocurrency. I think this dropping of altcoin price is temporary and soon it will followed btc what are your insights or thoughts about this?

Usually the market always moves in specific patterns or cycles at least that is how it was in the last years. First BTC starts to climb for a certain amount of time, will all other coins stay stable or even going down a little. After the BTC climbing phase is over the bigger altcoins begin to surge, like Ethereum, Solana, Cosmos, Polkadot, Cardano big projects like that. This phase can also last a few weeks to months then usually the small cap altcoins are also beginning to rise. I am not sure if will be like in the past years where literally every shitcoin went up once we the altcoin bull began or if people are a little bit more picky already.

passwordnow

hero member

Activity: 2926

Merit: 570

Leading Crypto Sports Betting & Casino Platform

Quote from: MiF on October 05, 2021, 11:32:32 PM

Altcoins stall against btc, Most altcoins followed btc BTC’s performance lately, if btc is bullish altcoins will also bullish, but the situation has changed in the past 24 hours. Most of the top altcoins dropped while btc is up.

Cardano, Ripple, Solana, Polkadot, Binance Coin, Litecoin, Terra, and Algorand have also lost chunks of value against the largest cryptocurrency.

It always changes that whenever we see the price of bitcoin goes up, not all altcoins are dropping. There are also those altcoins that have a significant pump.

Quote from: MiF on October 05, 2021, 11:32:32 PM

I think this dropping of altcoin price is temporary and soon it will followed btc what are your insights or thoughts about this?

It is. Because not every time you see the market for alts drop, they'll stay there forever, just no. And if it's not for bitcoin, they won't also be pumping.

Jaered

jr. member

Activity: 840

Merit: 4

It's called bitcoin-altcoin decoupling. And it is not the first time it has happened. It occurred around 2019 and the magnitude was so high that the bitcoin dominance was quite high then, up to 65% or so(may be a little lower). But I don't think the dominance would pump very high now due to many altcoins have accumulated some traction. For example, Grayscale added Ethereum to its portfolio. And recently Solana

TheUltraElite

legendary

Activity: 2898

Merit: 1253

Call your grandparents and tell them you love them

Quote from: MiF on October 05, 2021, 11:32:32 PM

Altcoins stall against btc, Most altcoins followed btc BTC’s performance lately, if btc is bullish altcoins will also bullish, but the situation has changed in the past 24 hours. Most of the top altcoins dropped while btc is up.

I have been watching them for a long time now and what I conclude is that there is no direct relation between the change in bitcoin price vs change in altcoin price, at least that can be mathematically proven. What I have found is anecdotal and that includes the rise of altcoins secondary to rise of bitcoin and altcoins bleeding out once bitcoin become stagnant. Again they drop rather quickly when bitcoin becomes bearish.

So I would consider the current price change as part of one of these patterns. Give it some time and the proper change might become clear. But dont use this to trade.

Quote

I think this dropping of altcoin price is temporary and soon it will followed btc what are your insights or thoughts about this?

This is a speculative market, any movement here is temporary. But if you looking for points to buy altcoins, then be ready for the large swings in price too. Eventually you will also realize that putting money in bitcoin is far safer than any altcoin.

poodle63

hero member

Activity: 2660

Merit: 509

Leading Crypto Sports Betting & Casino Platform

Quote from: MiF on October 05, 2021, 11:32:32 PM

Altcoins stall against btc, Most altcoins followed btc BTC’s performance lately, if btc is bullish altcoins will also bullish, but the situation has changed in the past 24 hours. Most of the top altcoins dropped while btc is up.

It's just a common thing, a few weeks ago almost all of top altcoins were so bullish but bitcoin still remain stagnant. This is as a retrace by bitcoin as bitcoin is slowly going up again. This makes people are speculating to the bitcoin and they were selling their top coins to be moved into the bitcoin to prepare another big bullish trend that will come soon.

Quote from: MiF on October 05, 2021, 11:32:32 PM

I think this dropping of altcoin price is temporary and soon it will followed btc what are your insights or thoughts about this?

You're right. This is just a short term impact. So many times major tokens will always lost its value but after bitcoin has done with its pump and then bitcoiners will be moving to the altcoin.
I have been watching the trend so many times.

cryptoaddictchie

legendary

Activity: 2072

Merit: 1315

Quote from: MiF on October 05, 2021, 11:32:32 PM

Cardano, Ripple, Solana, Polkadot, Binance Coin, Litecoin, Terra, and Algorand have also lost chunks of value against the largest cryptocurrency. I think this dropping of altcoin price is temporary and soon it will followed btc what are your insights or thoughts about this?

This only means thats there is change on the current set up. Me also, I believe before that if the market had crash due to btc every alts will follow and its the same goes when its bullish but its not. We can see that there is a constant down trend on some alts and some also bullish. I hate it, when everyone is shouting alts is mooning while the reverse is occuring. I guess bitcoin is really a different case for the market. But what is worse is when bitcoin go down, the altcoin crash that badly.

gwdf1

full member

Activity: 680

Merit: 103

Quote from: MiF on October 05, 2021, 11:32:32 PM

Altcoins stall against btc, Most altcoins followed btc BTC’s performance lately, if btc is bullish altcoins will also bullish, but the situation has changed in the past 24 hours. Most of the top altcoins dropped while btc is up.

Cardano, Ripple, Solana, Polkadot, Binance Coin, Litecoin, Terra, and Algorand have also lost chunks of value against the largest cryptocurrency. I think this dropping of altcoin price is temporary and soon it will followed btc what are your insights or thoughts about this?

As for me it can be a sign of a new bear market. Because, as we all know, people are used to getting rid of altcoins first that is why they fall faster and more significantly. Anyway we should follow Bitcoin as it is a real indicator of the whole crypto market, but the drop of altcoins is an indicator for me that people are preparing for a bear market.

MiF

sr. member

Activity: 1344

Merit: 258

Altcoins stall against btc, Most altcoins followed btc BTC’s performance lately, if btc is bullish altcoins will also bullish, but the situation has changed in the past 24 hours. Most of the top altcoins dropped while btc is up.

Cardano, Ripple, Solana, Polkadot, Binance Coin, Litecoin, Terra, and Algorand have also lost chunks of value against the largest cryptocurrency. I think this dropping of altcoin price is temporary and soon it will followed btc what are your insights or thoughts about this?

Topic: Most Large-Cap Alts Lose Value Against BTC. - page 2. (Read 174 times)