Topic: Poor performance of altcoins on this BTC crash (Read 1222 times)

What are you talking about what have the Chinese done to make the price crash ? Could you keep up to date with Chinese news and use it to predict the price ? Last year the same thing happened it crashed end of year then started building slowly. Maybe the same this year ? Bitcoin $2k ? I say yes !

I've read a lot of rubbish about the rise and rise of Bitcoin from people who clearly know nothing how financial markets work.

Now I'm not saying that Bitcoin won't ever go higher in future. But the gung-ho 'buy now before it's too late' panic that I've seen is purely marketing hype.

The fact that prices rose sharply at the start of the week indicates that the market makers were setting things up to start the year with a nice profit.

When they achieved their objective they sold, and the price has dropped like a stone as they drew out their profit - the two longish red bars (or candlesticks) on the chart below illustrate this.

Today's candlestick is a pattern that could indicate that the selling spree has ended - although being a weekend it's not really a good enough indicator and could simply be a pause before further falls occur on Monday.

Using Fibonacci levels to determine where prices could go, an area around the $750 mark shows up as being one of support. This is an area where prices will most likely start to bounce back up.

What should you be looking for?

The candle bodies will be much smaller, and often - although not always - prices bounce of a given area for a while. It's when that start happening traders look to buy.

Bitcoin is a good asset to have in your portfolio - I've got some myself and benefit from a mining operation.

But if someone comes along and says "Buy, because the price is shooting up..." don't get caught up in the hype then take a moment to study the market.

People who bought at $1000 would have gotten much better value had they waited.

It is true that when the price is crashing in bitcoins some coins are rising and the main coins are rising but some shit coins are also rising but dont take them in conclusion to invest as they are just pump and dump coins. coins like ETH, DOGE, which are worthy to buy in this decline price of bitcoin

How long do will be conducted checks?
Really rate fell only because of this?

Why OP dont present any numbers?   He just keeps open useless threads. How hard is to look at prices a week ago and now and see exactly what happen?

There is a relationship between the government and the exchange site. The exchange to pump the coin and the government to dump the price of the coin.

This case is pure FUD has made by the government.

Remarkably, these events move is always the same every year, bitcoin is always unstable in the early to mid-year. As if the players altcoin and bitcoin rumors in China is to function as a price destroyer. I hope the Chinese government more thoroughly investigate some crypto domestic market such as the three main markets (okcoin, huoby, and Btcc)

I do agree, most of the chinese user are now laying low and change as much as their coin into fiat, so we are seeing so many price dumping, until the government finished their investigation, we will see the price keep crashing

Which altcoins are you talking about? not the ones premined 99% or in some cases 150%? or maybe the ones only in the bags of devs and few wannabe smart a**es?

I'm surprised Monero or Ethereum or one of the other top coins hasn't gone up more,
but apparently people are scared of crypto in general right now and holding their money in fiat.

There is a good chance that one of these coins has big gains in the next week or two as long as Bitcoin price doesn't totally crash.
If you pick the right coin you might see 25% to 50% gains over the next few months.

Like it or not, the entire value of the crypto market is correlated to Bitcoin.  When you are talking a hundreds of millions of dollars it going to affect all markets. Everything is linked, not independent.

You can't just expect all the Altcoins to jack up because Bitcoin is down it will take days before the market react to the price and also remember that most of the coins are traded against BTC not fiat

it seems it is certain people will buy altcoin for now, look at the price of BTC decreased today, began to rise big investors to buy altcoin.

I don't see it as any tragedy, now, it is the right time to buy bitcoin or also altcoins. 
Panic on the market plays in our favour and as Mr.Pro said, it's only matter of time when a pump comes again.
Choose a few coins you believe in and invest in them, before you will regret.

Btc dump its only a matter of time when altcoins gonna start a pump and pump price again.

I think I see that the inverse correlation for BTC Pumps/Alt Dumps has become more and more delayed as time goes on. However it does seem to happen eventually. (The BTC halving pump was also delayed compared to time before last - I think). It could go away all together when BTC volume drops to below 50% of all crypto trades and more platform specific fiat gateways come on stream - NXT, WAVES, Counterparty etc.

I think we will see big changes over 2017!  

Well look at exchanges. Most of us don't exchange fiat to altcoins, we exchange bitcoin for altcoins. When bitcoin price is up, price of altcoins is up. It's not supposed to be this way but as most exchanges adopted btc>altcoin exchange system i don't see this fact changing any time soon

When the bitcoin is deeply down I will buy more bitcoins and use this bitcoin to buy some cheap altcoins for trading.
Usually, altcoins will increase higher when bitcoin decreases lowly. I ilke this fact so we can keep cheap bitcoins and still bring back more profit in this way. Good Luck to all of you.

Not performing well because Bitcoin price is not totally on a crash status.

Increases are as follows:

14% for the last month
36% for the last 1/2 year
133% for the last year
213% for the last 2 years

That Roger Ver's statement is really making sense to me.

I think the chinese will find a way to keep avoiding capital controls, maybe meeting in person with other sellers and exchanging btc for cash in the phone. Of course the volume is not going to be as big as it is in proper exchanges compared to a marketplace... unfortunately it's impossible to avoid capital controls in exchanges if they become regulated.