When BTC up, Why ALTCOIN suddenly down .? - page 3.

monkeydominicorobin

full member

Activity: 294

Merit: 104

✪ NEXCHANGE | BTC, LTC, ETH & DOGE ✪

Quote from: Crypbull on November 05, 2017, 06:06:22 AM

I have some doubt about Crypto network , BTC is the major one i Know but when BTC is going UP Why ALTCOIN is suddenly going down what is the link between BTC and altcoin ? I'm new to Crypto network, These days I focus on BTC veriation and Altcoin veriation then I get this problem.

Hope seniors help me to clarify this matter

When bitcoin is up. It means that the billionaires are playing the market. And the rest are monitoring the event and waiting to buy bitcoins after dumping alt coins. So basically billionaires are pulling the strings and they are earning from the exchange market. While the rest of the crowd are playing in their stupid game. The intelligent ones are hoarding Bitcoins. And doesn't engage in any of the stupid stuff.

IIV

member

Activity: 130

Merit: 16

1. Altcoins are generally priced against bitcoins. Even though the price of altcoin is stable or increasing against USD, it may look to be decreasing against BTC when BTC is having a quicker rise.
2. When BTC is on the rise, like at current time, people tend to dump their altcoin holding a buy and hold bitcoins. Increasing selling pressure means decrease in price.

mela65

sr. member

Activity: 1204

Merit: 298

Best Crypto / Online Casino Writing Services

Also there is another issue, BTC is main cryptocurreny so if BTC rise up, people thinks to buy BTC and sold their altcoins so this situation cause that, altcoins down and btc up

BitcoinIsAlgebraic

member

Activity: 89

Merit: 10

Basically people are converting their altcoins into bitcoin. so what is happening is Bitcoin is having a pump because of the amount of people who are investing in it and the altcoins are having a dump because of the people selling their alt coins for bitcoin.

Str1x

member

Activity: 140

Merit: 33

Buy me a beer 13mVkBy6HVwKuNovaWzYdF27FB6pLqoJtr

Quote from: Crypbull on November 05, 2017, 06:06:22 AM

I have some doubt about Crypto network , BTC is the major one i Know but when BTC is going UP Why ALTCOIN is suddenly going down what is the link between BTC and altcoin ? I'm new to Crypto network, These days I focus on BTC veriation and Altcoin veriation then I get this problem.

Hope seniors help me to clarify this matter

1. you may know that a lot of altcoins have BTC as a trading pair, therefore the price of an altcoin correlates to the price of bitcoin.
2. In a normal market (with no fork) the price of BTC can go up and the price of an altcoin can go up (nothing strange)
3. The thing now (and you can verify it) is that the BTC dominance is up a lot compared to couple of weeks ago, which means that money invested in altcoins (and in some extent new money) is removed from altcoins and put into bitcoin due to the fact that people want free B2X. This leads to a dump in price of altcoins and bitcoins that gets a new ATH every day.

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

It's not always the case that when bitcoin goes up, altcoins go down. In the last cryptocurrency price rally, bitcoin and altcoins went up and down together. I personally think that the reason that altcoins are dropping right now whereas bitcoin is skyrocketing is that people are most likely trading their altcoins for some bitcoins, for them to get to have Bitcoin-Segwit2x coins.

Crypbull

member

Activity: 322

Merit: 16

I have some doubt about Crypto network , BTC is the major one i Know but when BTC is going UP Why ALTCOIN is suddenly going down what is the link between BTC and altcoin ? I'm new to Crypto network, These days I focus on BTC veriation and Altcoin veriation then I get this problem.

Hope seniors help me to clarify this matter

Topic: When BTC up, Why ALTCOIN suddenly down .? - page 3. (Read 1018 times)