Newbie question | Bitcointalksearch.org

knightwr

newbie

Activity: 49

Merit: 0

Quote from: morpheus305 on July 14, 2017, 10:47:17 PM

I was looking at the price history of the top 50 coins and they all seem to have very similar price charts. They all seem to have spiked up the first half of this year even if they have been around for several years. My question is what caused all these altcoins to surge up in value so much?

Because in first half of 2017, BTC has been growth strong and stable, then ETH and XRP join this trend and prove 2017 is year of cryptocurrency with growth ratio change 1000-4000% just in short time. After that happens, all market are increasing and just need buying, you can become rich man Grin

. But this trend ended in June and make bearish trend until today

marketone

legendary

Activity: 1302

Merit: 1000

Because every coin depends upon the price of Bitcoin. Once the price of Bitcoin is increasing then the impact will show on the all other altcoins. Simply there are many coins created under the ETH blockchain so when ever the price of ETH is increasing automatically the price of all ETH based coins will increase.

Heronzkey

member

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Can I have two work entrances here?
Because I would like two of my work here if possible. .

BartS

sr. member

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Quote from: morpheus305 on July 14, 2017, 10:47:17 PM

I was looking at the price history of the top 50 coins and they all seem to have very similar price charts. They all seem to have spiked up the first half of this year even if they have been around for several years. My question is what caused all these altcoins to surge up in value so much?

The most simple explanation is that there were many new investors willing to put their money not only in bitcoin but also in ETH and the other altcoins, so all the coins pumped simply because it was impossible for them to not pump with the amount of money in the market.

abayan

sr. member

Activity: 686

Merit: 260

Quote from: Hawker on July 16, 2017, 09:21:14 AM

i dont think this has anything to do with ethereum. one of the reasons for the rise is that people are interested. the other reason is speculation

I agree and the most of the coins that were on top is the coins which is existed in the past a long time ago and now only when their projects were moving forward with additional crypto launch so their projects become more visible and enhance its uses because of the awareness of people in cryptocurrencies.

European Central Bank

legendary

Activity: 1288

Merit: 1087

at the most basic level there are a bunch of people on the alt exchanges who are out to get more bitcoins or dollars. they use all the coins on there to do that by duping others to buy in to the rises they create.

they don't care what the coins are so that's why they all rise. there are coins that were pumped that didn't even have blockchains that worked properly.

anyone who believes a certain coin rose because of its super cool features is a moron. they rose because other people wanted your money.

Hawker

legendary

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i dont think this has anything to do with ethereum. one of the reasons for the rise is that people are interested. the other reason is speculation

lokinator

full member

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Quote from: Heronzkey on July 16, 2017, 08:41:21 AM

Quote from: morpheus305 on July 14, 2017, 10:47:17 PM

I was looking at the price history of the top 50 coins and they all seem to have very similar price charts. They all seem to have spiked up the first half of this year even if they have been around for several years. My question is what caused all these altcoins to surge up in value so much?

My question about mining is how to start it because I want to be mining, so I would like to know how thankful I am to answer?

To start mining you need an initial investment of about 2k to do it "right" (5-6 mining GPUs). Even so at today's values for mine-able coins you're only going to make about $7-10 a day mining. You'll make your money back in about 8 months or so. That's if valuation stays about the same. You can mine coins that may net less profit initially but provide a good profit margin in the future; this is more risky however and you may need to hold them a while...

This article (and the links within it) may help you to get started GPU mining: http://www.legitreviews.com/silent-ethereum-mining-evga-geforce-gtx-1060-22-mhs_195529

Heronzkey

member

Activity: 191

Merit: 10

Quote from: morpheus305 on July 14, 2017, 10:47:17 PM

I was looking at the price history of the top 50 coins and they all seem to have very similar price charts. They all seem to have spiked up the first half of this year even if they have been around for several years. My question is what caused all these altcoins to surge up in value so much?

My question about mining is how to start it because I want to be mining, so I would like to know how thankful I am to answer?

Febo

legendary

Activity: 2744

Merit: 1288

Quote from: morpheus305 on July 14, 2017, 10:47:17 PM

I was looking at the price history of the top 50 coins and they all seem to have very similar price charts. They all seem to have spiked up the first half of this year even if they have been around for several years. My question is what caused all these altcoins to surge up in value so much?

There was increased interest in crypto since Bitcoin was rising for whole 2016. Bitcoin keep rising also in first half of 2017. All altcoins follow Bitcoin. Some more others less.

olliejjc16

full member

Activity: 145

Merit: 100

A combination of both, bitcoin and ethereum rallies increased their dollar value but also people bought into these alts on top of that so the price increased exponentially.

morpheus305

newbie

Activity: 43

Merit: 0

So it wasn't so much as people were buying these alt coins but just the fact that BTC and ETH rose in value which caused the altcoins to rise in value as well?

kekcoindev

newbie

Activity: 57

Merit: 0

Super moon bull season --> Bitcoin rallied, top-tier alts rallied, and all other ships sailed the rising tide!

ArdiPrabowo

hero member

Activity: 644

Merit: 500

Quote from: Coinadvisory on July 15, 2017, 07:07:28 AM

All altcoins are highly correlated with Etherium, so when Eth rise, all other alts rise as well.

And Eth is correlated with Bitcoin, so everything depends on BTC, and partially Etherium.

not all altcoin related about ETH price
only coin develop use etherum token can related with ETH price
another coin still related with bitcoin price, but iam not understand ussualy if bitcoin price is down altcoin can incraese
but this now bitcoin price down all altcoin down too, maybe segwit effect

White sugar

legendary

Activity: 1232

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include the price of BTC in the graph and you will know why

Unrivaled

newbie

Activity: 23

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Do your research and invest in coins in which you believe in. Don't follow the market, follow innovation and technology.

Coinadvisory

newbie

Activity: 51

Merit: 0

All altcoins are highly correlated with Etherium, so when Eth rise, all other alts rise as well.

And Eth is correlated with Bitcoin, so everything depends on BTC, and partially Etherium.

morpheus305

newbie

Activity: 43

Merit: 0

I was looking at the price history of the top 50 coins and they all seem to have very similar price charts. They all seem to have spiked up the first half of this year even if they have been around for several years. My question is what caused all these altcoins to surge up in value so much?

Topic: Newbie question (Read 745 times)