What's wrong with all the green rise of altcoin today?

kryptqnick

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Quote from: puremage111 on April 28, 2017, 01:02:39 AM

We all knew that bitcoin broke the ATH of $1200 and its now $1300

Based on some philosophy people mentioned that when Btc raise, most of the alts drop

But look at the top 20 coins in cmc

Dash
Eth
Ripple
Monero
And even Doge
DOGE GROW 18%

Any particular reason?

Well, some people (iamnotback said it about ltc if I'm not mistaken) said the opposite. They maintained that bitcoin grows and other currencies tend to grow with it.
Perhaps one of the reasons for this is that as the btc price grows, people become more acquainted with cryptos in general and sometimes, as btc is already too expensive, they start buying other crypto-currencies. I think this theory is more right than the one you are talking about.
However, in a way, there is no strict connection between btc and other currencies, so abything can happen. Perhaps if something happens to btc other alts will drop, but the opposite might happen as well.

andrei56

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Quote from: puremage111 on April 28, 2017, 01:02:39 AM

We all knew that bitcoin broke the ATH of $1200 and its now $1300

Based on some philosophy people mentioned that when Btc raise, most of the alts drop

But look at the top 20 coins in cmc

Dash
Eth
Ripple
Monero
And even Doge
DOGE GROW 18%

Any particular reason?

That means that is not the same money that is moving around from bitcoin to altcoins and vice versa that means new money is entering the market of cryptocurrencies and that is causing a bullish run on all the major coins, and of course this is good new to all of us.

Solthane

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Quote from: Viper1 on April 28, 2017, 01:41:30 AM

Back when I first started hearing the "alt coins drop in price when BTC rises" stuff, it was after the first BTC pump. People would take money out of ALTs to put into BTC. A year after BTC reached it's first all time high, it was down around the 220 mark and stayed around that level (220-300 or so) for pretty much all of 2015. I think people learned their lesson that diversifying is a far better idea.

I have always found it interesting how BTC somewhat mimics the advancement of traditional currency, albeit at a much faster pace. It is almost similar to international currencies and their trade at this point in its own way. Ultimately BTC is such a central figure of all the cryptocurrencies that changes to it impact all the others, but if we have enough change in the others it could bounce back and impact BTC.

monsanto

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..like bright metal on a sullen ground.

Quote from: puremage111 on April 28, 2017, 01:02:39 AM

We all knew that bitcoin broke the ATH of $1200 and its now $1300

Based on some philosophy people mentioned that when Btc raise, most of the alts drop

But look at the top 20 coins in cmc

Dash
Eth
Ripple
Monero
And even Doge
DOGE GROW 18%

Any particular reason?

Well it's interesting that Bitfinex cutting off fiat deposits/withdrawals has coincided with what looks like price floors on a lot of these coins. It makes sense since people need to move funds off the exchange. I guess we'll have to wait for fiat to be re-enabled, and/or more info from Bitfinex on their situation, before we can say how much this is responsible for all the green.

alani123

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Quote from: xuan87 on April 30, 2017, 02:16:56 AM

Theoretically it's true, if bitcoin is rising then alt will go down because we are using bitcoin as the comparison to buy, but if there are a lot of people buying those alt coins then the price will still go up, this year trading alt coin got a better profit than bitcoin, you see dash price is up more 5 times in few months and lite coin up more than 4 times in a month, so there are a lot of alt coin demands and that is making most of the alt got a green mark

What might also be the case is that traders are starting to figure out that diversification even within the crypto economy is a useful hedge against bitcoin's volatility. The market might have all coins under the same hood but many traders probably think that coins focusing on tech bitcoin falls behind on are diverse enough to not risk being too correlated with bitcoin.

xuan87

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Theoretically it's true, if bitcoin is rising then alt will go down because we are using bitcoin as the comparison to buy, but if there are a lot of people buying those alt coins then the price will still go up, this year trading alt coin got a better profit than bitcoin, you see dash price is up more 5 times in few months and lite coin up more than 4 times in a month, so there are a lot of alt coin demands and that is making most of the alt got a green mark

coynedterm

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Quote from: puremage111 on April 28, 2017, 01:02:39 AM

We all knew that bitcoin broke the ATH of $1200 and its now $1300

Based on some philosophy people mentioned that when Btc raise, most of the alts drop

But look at the top 20 coins in cmc

Dash
Eth
Ripple
Monero
And even Doge
DOGE GROW 18%

Any particular reason?

Totally true but you can't predict and make every Prediction right or wrong by one factor .
This is reality that when the price of the bitcoin increases then the price of the altcoins drop but here you should also need to remember that the price of every coin ( whether bitcoin or altcoin ) depends upon the demand also , here you can see the example of the ripple coin , even with the increase in the price the ripple jump and goes down , that was only due to demand and news discussion about the bitcoin .So before to think about the price rise and down , we should study behind its publicity and demand reason that why it got increase .

benthach

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Quote from: Febo on April 28, 2017, 08:30:00 AM

Quote from: puremage111 on April 28, 2017, 01:02:39 AM

We all knew that bitcoin broke the ATH of $1200 and its now $1300

Based on some philosophy people mentioned that when Btc raise, most of the alts drop

But look at the top 20 coins in cmc

Dash
Eth
Ripple
Monero
And even Doge
DOGE GROW 18%

Any particular reason?

It is actually the same whole 2016 and now 2017. Sooner or latter bubble will burst. So think what you are holding. Is it something people will need?

altcoin world and the pump is just started, it still a long long way before it burst. get something like ARK, Monero or Ripple now and have 5x your money. prevent etheriem at all cost.

2dogs

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There is no "why".

Recently, a rising tide has risen a lot of boats, so make hay while the sun shines.

The better question is: do you buy more - or when to sell?

four3200

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Quote from: lurker10 on April 28, 2017, 01:50:04 AM

Quote from: puremage111 on April 28, 2017, 01:02:39 AM

We all knew that bitcoin broke the ATH of $1200 and its now $1300

Based on some philosophy people mentioned that when Btc raise, most of the alts drop

But look at the top 20 coins in cmc

Dash
Eth
Ripple
Monero
And even Doge
DOGE GROW 18%

Any particular reason?

Nothing is wrong. The bull market of crypto officially started few months ago, new money is pouring in. The new money are looking for undervalued stock, chasing only Bitcoin which is in the middle of the major controversy is plain stupid.

WRONG.

BTC strong hands are exiting. Buying ALT turn native stakes.

This raises ALT volume. And then drives up demand for BTC, because trade Grin

The math is simple.

But BTC-maximilist are dinosaurs.

BitcoinerXX

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Quote from: puremage111 on April 28, 2017, 01:02:39 AM

We all knew that bitcoin broke the ATH of $1200 and its now $1300

Based on some philosophy people mentioned that when Btc raise, most of the alts drop

But look at the top 20 coins in cmc

Dash
Eth
Ripple
Monero
And even Doge
DOGE GROW 18%

Any particular reason?

how much of these alt coins value are pure speculation? will they crash during btc's next exponential phase or will they crash before that when their whales decide to pop the bubbles and its time to sell

rowenta01

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As usual, many answers from bitcoinist maximalist ...

They talk about ancient history. As if the past was always enough to analyze the present and the future.

A lot of altcoin are shit, it's true .. but there are also beautiful projects, and some will be there for a very long time .. Stop saying that new investors are stupid .. there are also smart people who Invest with intelligence in the new altcoins!

For you there will be in the future that the bitcoin .. In my humble opinion, it is an error of analysis. Your experience prevents you from having an objective analysis of the altcoins and the crypto money market.

There will be victors and losers. The bitcoin will definitely be a winner but not the only one ..

alyssa85

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Quote from: puremage111 on April 28, 2017, 01:02:39 AM

We all knew that bitcoin broke the ATH of $1200 and its now $1300

Based on some philosophy people mentioned that when Btc raise, most of the alts drop

But look at the top 20 coins in cmc

Dash
Eth
Ripple
Monero
And even Doge
DOGE GROW 18%

Any particular reason?

It's new money. We saw the same thing in late 2013/early 2014. People got excited when bitcoin made new highs, but figured that they missed the boat, so they speculated on alts.

victory1

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Greater fool theory, nothing new.

christie

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green is good for your eyesight Cheesy

the only reason is, 2017 is the year of superbull

enquirer

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It's not just today, Bitcoin has crashed x3-x10 times vs most other coins in the last 2 months. Bitcoin development has stalled after bearded crazies took control over its github repository. There is a race which coin will replace bitcoin as leading cryptocurrency, and everyone tries to pick a winner and become an early adopter.

Red-Apple

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a lot of money has came into altcoin market. and a large portion of this money belongs to people who have no idea what they are doing. they saw the good performance of last month or so and they want more thinking it will stay this way forever.
sure many of these alts will stay up and their dumping will take time and will be slow but eventually they will all get dumped. and my fear is that the same big amount of money that came in is going to make a panic exit and that is terrifying because the same green happy rise will turn into a big ass red dump before we can say "what's wrong..."

Febo

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Quote from: puremage111 on April 28, 2017, 01:02:39 AM

We all knew that bitcoin broke the ATH of $1200 and its now $1300

Based on some philosophy people mentioned that when Btc raise, most of the alts drop

But look at the top 20 coins in cmc

Dash
Eth
Ripple
Monero
And even Doge
DOGE GROW 18%

Any particular reason?

It is actually the same whole 2016 and now 2017. Sooner or latter bubble will burst. So think what you are holding. Is it something people will need?

Piston Honda

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Juicin' crypto

only the strong alts will survive!!!

Shiroslullaby

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Altcoins are the new hot thing. Like the dot com era of the 90s.
Tons of new money is flowing in because everyone is trying to get rich.

Unfortunately most investors are just going to lose a lot of money because these coins will end up doing nothing but making the developers a quick buck.
Lets see if any of these coins are still up in two years from now. That will be the real test.

Topic: What's wrong with all the green rise of altcoin today? (Read 2239 times)