Topic: What will raise the Altcoin Index? (Read 855 times)
Have varying amounts of bitcoin in the index too. This would reduce volatility anyway.
It all makes sense but what about a massive change in consciousness in the altcoin community that started putting the coins into more peoples hands, like by tutoring people in how to use them, trading good amounts for things and so on? Seems like attaching value to the coins would make the marketcaps of both BTC and the alts stay getting higher. I forget the analogy, something like a closed loop, where one thing feeds another, like a zero sum game, but instead of 14 billion, why not 20 billion in a couple of years?
It seems as a whole most of the major altcoins have been declining in value recently. What will reverse this trend?
What will need is for Bitcoin price to level out, there has been negative correlation between Bitcoin spike and Altcoin. some people called it Bitcoin see-saw effect
It seems as a whole most of the major altcoins have been declining in value recently. What will reverse this trend?
A decline in bitcoin's price.
Generally it's like oil and gold. If oil goes down in price then it is likely USD has increased in value, and vice versa.
There is only this much amount of money in the cryptocurrency markets actively trading, and when there is a major pump in bitcoin price then it'll mean there will be less funds in altcoin markets to pump their prices.
It seems as a whole most of the major altcoins have been declining in value recently. What will reverse this trend?
Since there is currently a price surge happening in bitcoin, expect most of crypto traders are active in bitcoin since they don't want to missed the train. So just wait until there is a bearish activity in bitcoin that will lead into the correction pruce. In most of the cases, when bitcoin was on pumping scene expect some slow price movement in alts and sometimes resulting for so much dip.
So what to do? Take advantage at both situation, buy at dip, hold then plan your next move. Yes a risky one but this is how crypto trading works.
I agree with you that the current rise in price of Bitcoin is the main reason of Altcoin price decline but it is also a good opportunity to buy the good altcoin for long term trading. And it is also a good time to take profit from Bitcoin as the price is on very high and we can see at least 20 to 30% of selling pressure so it is good that take profit from bitcoin and invest in good altcoin. This is also a good way of trading in this situation
Thats like asking to predict the weather.
It seems as a whole most of the major altcoins have been declining in value recently. What will reverse this trend?
if you compare altcoin price use bitcoin so all altcoin price down
because bitcoin price incraese is very high
if you compare use value dollar price so result can difference
you can see in litecoin price today in coinmarketcap
if use price USD litecoin price incraese 2%
but if you see litecoin price use bitcoin , down until reach 3%
At least diversfy to more coins. Somebody needs to set up a high yield/risk index.
Bitcoin trend is the opposite trend for the all of the altcoin, if the bitcoin will be having a new price and soon all of the altcoin have needed to adapt to such condition. Bitcoin is the root of all alt in this time, bitcoin can be disturbing itself anytime.
I don't think so, Altcoins tend to get independent of Bitcoin, the main reason is that these technologies are completly different, you can't judge an altcoin like you would do for Bitcoin.
Have a look at Ripple, the price is around 1k satoshi for 1 XRP, there are 15 Billion XRP holded mainly by the central autority, it means that roughly the Rippl's market cap is 150k BTC, does it means something for them ? i don't think so, and it is the same thing for all legit altcoins.
You can compare Bitcoin with other SHA256 cryptocurrencies meant to be used in the same way, like IXcoin hwo has been abandoned by the miners because of 0 block reward, and stuck at a verry high diff, this may be the next issue the bitcoin will have to face, and here, you can compare both of these coins.
Don't do the mistake to compare Bitcoin with ETH/ETC or NXT or WAVE, it is not the same at all.
Bitcoin trend is the opposite trend for the all of the altcoin, if the bitcoin will be having a new price and soon all of the altcoin have needed to adapt to such condition. Bitcoin is the root of all alt in this time, bitcoin can be disturbing itself anytime.
It seems as a whole most of the major altcoins have been declining in value recently. What will reverse this trend?
Since there is currently a price surge happening in bitcoin, expect most of crypto traders are active in bitcoin since they don't want to missed the train. So just wait until there is a bearish activity in bitcoin that will lead into the correction pruce. In most of the cases, when bitcoin was on pumping scene expect some slow price movement in alts and sometimes resulting for so much dip.
So what to do? Take advantage at both situation, buy at dip, hold then plan your next move. Yes a risky one but this is how crypto trading works.
It seems as a whole most of the major altcoins have been declining in value recently. What will reverse this trend?
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