What Happens To The Altcoins If Bitcoin Drops Strong? - page 5.

Harlot

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Quote from: Pffrt on July 06, 2020, 05:10:43 PM

Usually, when BTC price starts to pump, altcoin price get increased too and when BTC price starts to dump, altcoin price decreased too. This is a very basic of crypto price due to all crypto being measured against BTC. On the other hand, there are some negatively corelated cryptos. These follow the inverse relation. When BTC goes up, they go down and vice versa.

We can't really assume that this will always be the case, remember that alt users have the word "alt season" for a reason. By my experience in observing the crypto market there are times where I see altcoins are down and only Bitcoin is up in these occasion investors have sold their position in their alt in order to ride their capital in the pumping of Bitcoin and there are also times where only Bitcoin is down and altcoins are up so you can't really put that in stone where there is always a correlation involve, there is no guarantee that alts will always move the same way as Bitcoin.

adzino

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The same thing happens. The price of altcoin starts to drop harder than bitcoin. This is because, when they see the price of bitcoin drop, altcoin holders starts to panic and decides to sell off their altcoins too. Hence, the price of altcoins starts to drop. Now, not everyone does a panic selling of their altcoins. Some know whats going to happen, so they take this opportunity to sell their altcoins (causing the price to drop) and starts investing on bitcoin since the price of bitcoin has fallen. They eventually buy back what they sold at cheaper rate. Thus, they manage to make profit from both altcoins and bitcoins.

Pffrt

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Usually, when BTC price starts to pump, altcoin price get increased too and when BTC price starts to dump, altcoin price decreased too. This is a very basic of crypto price due to all crypto being measured against BTC. On the other hand, there are some negatively corelated cryptos. These follow the inverse relation. When BTC goes up, they go down and vice versa.

serjent05

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Quote from: nicedreams on July 05, 2020, 11:27:57 PM

Every altcoin follows the signal of Bitcoin so if Bitcoin in turmoil, of course, altcoins will suffer the same fate too. Though the USDT or stablecoin in that time will also become a safe channel for everyone to save their coin and that's something worry me the most.

This simply show how unestablished the cryptocurrency market is, almost all altcoin just ride the popularity of Bitcoin so whenever Bitcoin crash they tend to follow. Supposedly the thing should be, if the price of BTC price drops, the correlation of Altcoin to BTC price should go up, and altcoin to USD should remain. But since the market belief today is that when Bitcoin crash, the altcoin will follow, so holders of altcoin tends to short their trade. No wonder we see altcoin price follows the Bitcoin price trend.

XCANA

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Quote from: Desscount on July 06, 2020, 11:47:22 AM

of course the price of Altcoin will fall sharply, because at this time the price of Altcoin is still following the price of Bitcoin, if bitcoin rises there is a possibility the price of Altcoin goes up, but if it goes down then altcoin also goes down

That's right, history has this to say: the bitcoin price is directly proportional to the price of altcoins, whenever the price of Bitcoin downside the price of altcoins will always be loyal to it(Bitcoin) demands. Several times we have experienced altcoins go down before bitcoin does. The beauty of this whole thing is, Bitcoin is always be paired with all altcoins, with this other cryptocurrency will obediently follow bitcoin price for their growth in terms of price.

rexxarofmoknathal

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Quote from: retnocintaku on July 06, 2020, 09:52:11 AM

In the same respect, while BTC is tightly linked to how the Altcoins behave, as history showed in the event of large BTC drops some of the Altcoins are likely to follow. This is because the BTC in a way determines the strength of the crypto coins markets and is an indicator of people's confidence in the industry.

That is to say that maybe not all altcoins will drop if BTC drops, but the ones with a high market cap will likely follow BTC's trend, whilst other smaller coins might still keep on pumping, often as an act of artificial pump.[/list][/list]

barbara44

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Well, usually that means there is panic in the crypto market and that usually causes altcoins to drop as well. Not saying it will be 100% like that because there is a ton of ways altcoins could move during that period, but 90% of the time bitcoin goes down, altcoins go down as well. This is why I think if you see bitcoin going down (that means you are too late) I would suggest selling your coins if they haven't dropped yet, that way you can get out before it is too late (stop if it is too late). This means bitcoin does affect other altcoins, the price of bitcoin is basically deciding factor for all of crypto markets. Could there be some anomaly that causes the price of bitcoin to drop while others increase? Why not, it can. Would it be probable? No, that would be very unlikely.

Majharul Saiif

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Quote from: Rengga Jati on July 05, 2020, 07:25:25 PM

Source: coinmarketcap

It is an easy answer. If Bitcoin drops, then altcoins will probably follow it as they depend on the performance of Bitcoin. Just look at the picture above, It described clearly that most altcoins are following the performance of Bitcoin. FYI, it is the picture of current drops of crypto coins, the picture was taken from coinmarketcap. Except for Tether, stable coins aren't following Bitcoin performance as their prices depend on dollars.

Yes, it is. I also check today's change in coinmarketcap. It's almost depends on Bitcoin's price. So, it can be said that if bitcoin price pump a bit then altcoins also pump soon.

South Park

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Quote from: oriontab on July 05, 2020, 06:01:01 PM

One thing for sure, if bitcoins goes down, the altcoins take a hit also,often times it is worse for altcoins. The bitcoins dominance has been indicative of the in last couple of months,never gone below 60 per cent

It is as simple as that, bitcoin is simply too big and if it goes down in a strong way then almost all altcoins will follow this movement as they cannot resist the influence of bitcoin, and since they are smaller for the most part they are hit even harder as people prefer to either get bitcoin to reduce their losses or to get fiat and stay away from the market until things get a little bit better, this is why it is important to never hold altcoins for the long term or you risk suffering tremendous losses in a short amount of time.

Looper_U

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I believe that 99% of altcoins relies on bitcoin, even well known top altcoins depends on Bitcoin, if Bitcoin drops other coins will readjust too and vice versa, no matter how strong the Altcoin might be it will lose value since Bitcoin has the biggest marketcap.

LbtalkL

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There are times that some altcoins move in different directions even if the bitcoin is going down but that does not happen usually. Most of the time altcoins are dependent on bitcoin moves. Bitcoin as of now has a 64% percent dominance from other cryptocurrencies there is no question why most of the altcoins are always affected. So the answer to your question is obvious it will surely go down too excluding stablecoin of course.

bluebit25

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Quote from: Desscount on July 06, 2020, 11:47:22 AM

of course the price of Altcoin will fall sharply, because at this time the price of Altcoin is still following the price of Bitcoin, if bitcoin rises there is a possibility the price of Altcoin goes up, but if it goes down then altcoin also goes down

If bitcoin rises suddenly, I believe the altcoin price will bleed because investors will sell off altcoins to move to bitcoin. Altcoin always moves based on the situation of bitcoin and it has been happening for years

dhemasm

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Basically almost all atcoin have same common things, It's going down when bitcoin price rise and also down i think it's simple but not all altcoin, sometimes it's also going rise, we can't really predict accuratelly so just can an make predicition, after looking the chart that you give to us there is no really different i think, Just same like previous year same scheme.

Zazzu

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If bitcoin goes down, I believe the price of altcoins will be reduced many times. Looking back at March 2020, the bitcoin price fell to 30% and it caused the entire altcoin to fall to 60-90% of the value in just a few days.

pilosopotasyo

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Quote from: Desscount on July 06, 2020, 11:47:22 AM

of course the price of Altcoin will fall sharply, because at this time the price of Altcoin is still following the price of Bitcoin, if bitcoin rises there is a possibility the price of Altcoin goes up, but if it goes down then altcoin also goes down

It is always recommended to hold strong coins so even if Bitcoin make a big dip the impact is not that big because those strong coins are still in their bull, if Bitcoin is dropping and coins that you're holding are also dropping, those altcoins will lose it's value, it should not be dependent on Bitcoin.

Desscount

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ComboLabs

of course the price of Altcoin will fall sharply, because at this time the price of Altcoin is still following the price of Bitcoin, if bitcoin rises there is a possibility the price of Altcoin goes up, but if it goes down then altcoin also goes down

Refrumatrix

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If Bitcoin loses value 90% or more altcoins will have no choice but to dump in price and if Bitcoin regain value almost all altcoins will recover but not all altcoins, some projects are built to withstand deep revaluation because of their use cases

Surrapatt

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Quote from: bukham88 on July 06, 2020, 09:19:37 AM

in previous monitoring of the ups and downs of the crypto market is determined by the price movements of Bitcoin, so if the price of bitcoin falls strongly then the price of altcoin will also follow it.

Yes, only in the case of a decline and an increase in price is also determined by those who are interested in buying and disposing of coins into the market, regarding the bitcoin trends affecting altcoin, it is clear and often seen in the crypto market.

retnocintaku

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Sebas.tian

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The only thing that will happen to altcoins when bitcoin went downtrend is for the Altcoins go bearish as fast as possible. Bitcoin has the most capitalization in terms of market value and almost all the altcoins are paired with Bitcoin, so, bitcoin price will definitely dictate the price of the altcoins.

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