The value of any coin depends on the demand supply methodology. Due to the slow bitcoin network and insanely high fees a lot of people have moved their fund to altcoins which are technologically superior. So the demand for those altcoin increased pushing the price up. Now the network is coming back to normal, people have again started moving their funds back to bitcoin. However, I honestly think that few altcoins will not go down even after the bitcoin price goes up higher because people have now found value to those altcoins. Most of these altcoins offer faster and cheaper transactions, so people who require frequent transaction, will continue with those altcoins instead of bitcoins because it will save them a lot of money.
So I believe even if the bitcoin price gets doubled this year, few altcoins will also keep their head high. I am betting for ETH and Ripple and started investing in both of them. Lets hope for the best.
Topic: This is why Bitcoin will double in USD value and altcoins will fall (Read 151 times)
January 07, 2018, 12:34:52 PM
January 07, 2018, 11:29:25 AM
With sudden surge in Altcoin price, more and more people are buying altcoins. But, If we look at the price of low priced coins, there has been a huge rise in value of this coins. And if we look at price history of most of the altcoins, we will find a cycle that happens every six moths or a year, wherein the price of Altcoins increases and in a month this gets dumped and gets traded for Bitcoin resulting in massive price increase for Bitcoin.
The last time this kind of surge happened was in May and June, price of most of top 10 coins like XRP, NEM, ETH, etc was around this time. This was followed with dramatic fall in the value and increase in Bitcoins price in August 2017. Since, Bitcoin price keeps on rising, the USD value of all Altcoins also rises but then if we look at satoshi value from now and then it is almost the same.
This may or may not happen this time. But looking at over 800 billion dollar market cap of all cryptocurrencies and BTC dominance of around 33 percent, if and when, the altcoins are dumped for BTC, it will easily double the value in USD from now.
I agree,in my humble opinion we dont need to calculate our gains using USD,instead we need to look in satoshi value.I am just waiting for the BTC dominance to fall below 28 then will start buying more. The last time this kind of surge happened was in May and June, price of most of top 10 coins like XRP, NEM, ETH, etc was around this time. This was followed with dramatic fall in the value and increase in Bitcoins price in August 2017. Since, Bitcoin price keeps on rising, the USD value of all Altcoins also rises but then if we look at satoshi value from now and then it is almost the same.
This may or may not happen this time. But looking at over 800 billion dollar market cap of all cryptocurrencies and BTC dominance of around 33 percent, if and when, the altcoins are dumped for BTC, it will easily double the value in USD from now.
January 07, 2018, 11:21:13 AM
With sudden surge in Altcoin price, more and more people are buying altcoins. But, If we look at the price of low priced coins, there has been a huge rise in value of this coins. And if we look at price history of most of the altcoins, we will find a cycle that happens every six moths or a year, wherein the price of Altcoins increases and in a month this gets dumped and gets traded for Bitcoin resulting in massive price increase for Bitcoin.
The last time this kind of surge happened was in May and June, price of most of top 10 coins like XRP, NEM, ETH, etc was around this time. This was followed with dramatic fall in the value and increase in Bitcoins price in August 2017. Since, Bitcoin price keeps on rising, the USD value of all Altcoins also rises but then if we look at satoshi value from now and then it is almost the same.
This may or may not happen this time. But looking at over 800 billion dollar market cap of all cryptocurrencies and BTC dominance of around 33 percent, if and when, the altcoins are dumped for BTC, it will easily double the value in USD from now.
The last time this kind of surge happened was in May and June, price of most of top 10 coins like XRP, NEM, ETH, etc was around this time. This was followed with dramatic fall in the value and increase in Bitcoins price in August 2017. Since, Bitcoin price keeps on rising, the USD value of all Altcoins also rises but then if we look at satoshi value from now and then it is almost the same.
This may or may not happen this time. But looking at over 800 billion dollar market cap of all cryptocurrencies and BTC dominance of around 33 percent, if and when, the altcoins are dumped for BTC, it will easily double the value in USD from now.
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