It cycles like this.
New hype cycle begins. Then volume drops. then prices drop. Then someone declares bitcoin dead. Rinse. repeat.
So I wonder how long till bitcoin is declared dead again? 90 days or so watch.
Topic: Why are cryptos going up right now? (Read 1370 times)
A little late to the discussion but there's my view. Since most of the altcoins out there are generally exchanged with Bitcoin, a part of the reason they all went up is because of the drag of Bitcoin. Of course each coin has it's own course when it comes to the dollar but think about this: Bitcoin increases, most of the Alts are traded in Bitcoin, before most of the sellers and buyers notice the Bitcoin rise/fall the orders get completed, prices already go up or down and so on.
Then you get a domino effect which is uncontrollable because the market is moving too fast. You won't need this to happen to all the orders, just to a few of them. The delay of the human factor and drag of Bitcoin probably caused all this, as proof we've seen almost all of the Alts increasing and decreasing with Bitcoin.
To all this you can add new people investing because of recent news and of course new people panicking very fast and selling after prices started dropping. People might also see the Bitcoin increase and so they'll go with the trend of also rising the prices of other Alts when sending new orders to exchanges.
Then you get a domino effect which is uncontrollable because the market is moving too fast. You won't need this to happen to all the orders, just to a few of them. The delay of the human factor and drag of Bitcoin probably caused all this, as proof we've seen almost all of the Alts increasing and decreasing with Bitcoin.
To all this you can add new people investing because of recent news and of course new people panicking very fast and selling after prices started dropping. People might also see the Bitcoin increase and so they'll go with the trend of also rising the prices of other Alts when sending new orders to exchanges.
Trump is the answer. He is moving Chevrolet and Ford back into America. He also warned Apple about the subject. No more cheap peasants from China.
USA is the biggest employer of China atm. If USA dont give any jobs to them, they'll be starving to death. No matter how cheap they are, no matter how much they devaluate their national currency they can't replace USA with anyone else.
Chinese people are freaked out atm. They are attacking bitcoin like there is no tomorrow. China's collapse won't help the other emerging markets neither. They will also be having massive problems.
USA is the biggest employer of China atm. If USA dont give any jobs to them, they'll be starving to death. No matter how cheap they are, no matter how much they devaluate their national currency they can't replace USA with anyone else.
Chinese people are freaked out atm. They are attacking bitcoin like there is no tomorrow. China's collapse won't help the other emerging markets neither. They will also be having massive problems.
That's an interesting position, and one I haven't actually considered until now, but your opinion does seem to hold credence.
However, do you also think the end result of reduction of exports would lead to Bitcoin depreciating in terms of CNY? China keeps their domestic currency artifically cheap (as you mentioned), so that more people are enticed to buy their exports. If Trump builds up enough waves in global trade so that China adapts a more domestic industrial focus, CNY will surely appreciate making Bitcoin a poor investment for a Chinaman.
Trump is the answer. He is moving Chevrolet and Ford back into America. He also warned Apple about the subject. No more cheap peasants from China.
USA is the biggest employer of China atm. If USA dont give any jobs to them, they'll be starving to death. No matter how cheap they are, no matter how much they devaluate their national currency they can't replace USA with anyone else.
Chinese people are freaked out atm. They are attacking bitcoin like there is no tomorrow. China's collapse won't help the other emerging markets neither. They will also be having massive problems.
USA is the biggest employer of China atm. If USA dont give any jobs to them, they'll be starving to death. No matter how cheap they are, no matter how much they devaluate their national currency they can't replace USA with anyone else.
Chinese people are freaked out atm. They are attacking bitcoin like there is no tomorrow. China's collapse won't help the other emerging markets neither. They will also be having massive problems.
Not all some of the cryptos that I'm supporting are having a hard time with it's price and it's volume as well not only price but those new ico's are also having a problem on how they can sell their ico to investors,it seems everybody are on Bitcoin because of the appreciation.
Yes. Altho it looks like all Crypto goes up, this is not the case. Some are staying at same $ value for some time No matter that Bitcoin price is rising.
In general, yes it looks scary. And most scary part is that this is only the beginning. If Bitcoin goes to $3000+ then we will see a horror movie.
Since BTC is spiking a lot of the other major high volume alts ride the coat tails. If you know how to manage it properly you can make a pretty good return.
Profit comes directly from the expense of others.
Your profit is another guys LOSS.
Which is a key factor in thinking 2013 is starting all over again.
Think very carefully about being a trapped bag holder people.
Hey,
does anyone have an explanation for the current bullrun of cryptos (BTX and ALTs)?
does anyone have an explanation for the current bullrun of cryptos (BTX and ALTs)?
The only explanation is whales are backing up these coins,actually not all altcoins are having the same pump some of them are also experiencing from slow to heavy dump.this is trading anyway,not everyday is your lucky day..
Not all some of the cryptos that I'm supporting are having a hard time with it's price and it's volume as well not only price but those new ico's are also having a problem on how they can sell their ico to investors,it seems everybody are on Bitcoin because of the appreciation.
You're right, bitcoin price is contrary to altcoins, if bitcoin price rise other coins will decline as now happens.
My friend always complain about this condition as he expected to get many profits by sell out his crypto but the price keep low until today. That's why we should consider how long to hold altcoin, well I've never do it. Focus only on bitcoin.
The very reason is that many are buying Bitcoin as a good investment vehicle to earn money. Since the value is spiking up, many got interested to get into Bitcoin and this results into the continuous rampage of the Bitcoin value. I just hope that it will not be a burble burst soon.
That's the fundamental of "greater fool theory". Buy a collectible, with the idea that you'll find a greater fool that will buy it from you at a higher price. There's still a lot of room on the up-side for greater fools in bitcoin, as most of the world population is still available to take on that role.
Hey,
does anyone have an explanation for the current bullrun of cryptos (BTX and ALTs)?
does anyone have an explanation for the current bullrun of cryptos (BTX and ALTs)?
what the hell is BTX? there is no altcoin named BTX that I can find and bitcoin is either BTC (popular short form) or XBT (ISO standard).
and for bitcoin there are too many theories, some say pump, some say Trump, some say halving, some even say China, Africa and India. but I say it is only because bitcoin is undervalued.
and about altcoins I have to say they are getting dumped actually and the rises you may see is only because of the bounce back effect they have because of that dumping. and in some cases it is the normal course of their pump and dump and manipulation.
Since BTC is spiking a lot of the other major high volume alts ride the coat tails. If you know how to manage it properly you can make a pretty good return.
They all go up & down.. talk to me when LTC is above $30 again...
The very reason is that many are buying Bitcoin as a good investment vehicle to earn money. Since the value is spiking up, many got interested to get into Bitcoin and this results into the continuous rampage of the Bitcoin value. I just hope that it will not be a burble burst soon.
Delayed effect of the halving ?
No, It caused by massive adoption. A lot of the news had publicized it yesterday. Chinese and indian be main actors in this case. But there are some people were saying bitcoin have the bubble index.
I'd like to call it speculation.
It may to go $2000.
I don't call this "adoption". It is "greater fool theory" at its best: people are buying it, to hope to sell it at a higher price. There are still a whole world of "greater fools" to be captured, so there is still a lot of rising potential. But it is not "adoption" in the sense of "I want to use it as a currency, to buy goods and services". That's more or less dead now.
Hey,
does anyone have an explanation for the current bullrun of cryptos (BTX and ALTs)?
does anyone have an explanation for the current bullrun of cryptos (BTX and ALTs)?
Nope, but I hate it. This is increasing still more the speculative aspect of crypto, and killing off all together its usage part (as a currency, to trade goods and services). I wouldn't even be surprised that big financial institutions are at it, to make it a purely speculative asset they don't mind (yet another derivative-like thing to have in portfolios, swaps, futures, options and other stuff), and get it out of the way of competing with fiat so that they stay master there.
Crypto booms in the speculative domain, and is hence dead as an alternative for fiat. It is absolutely clear that this is NOT about adoption (as a currency). It is NOT because suddenly, all people are rushing to Openbazaar and need bitcoins (and hence increase, through Fisher's formula, the amount of stuff bought with a currency, and hence its price). It is because of more and more people are playing at "greater fool theory", rendering its usage as a currency totally dead, and hence, kill crypto in its infancy as a menace for fiat. We thought that crypto was going to get killed by law, but it is killed by greater fool speculation. Crypto will not succeed as a currency. It will become a purely speculative asset, for which block chain tech isn't even needed any more.
People who believe in crypto but think BTC is in a bubble are buying altcoins. People who think increased Bitcoin price affects the whole altcoins market are buying. People with money in Bitcoin but ultimately their beliefs in offshoots are buying.
Also, I'd imagine people spend more when the price is higher. For some, spending includes buying shitcoins.
Also, I'd imagine people spend more when the price is higher. For some, spending includes buying shitcoins.
Delayed effect of the halving ?
No, It caused by massive adoption. A lot of the news had publicized it yesterday. Chinese and indian be main actors in this case. But there are some people were saying bitcoin have the bubble index.
I'd like to call it speculation.
It may to go $2000.
I can easily explain why Bitcoin is going up... simply put, it's very undervalued and has been very undervalued for a long time for what it already is, let alone for what it can become in the future, but what I cant explain is why other altcoins are going up too. Maybe Ethereum bottomed, but I dont see why other random alts are going up, its possible the strong Bitcoin is giving the rest of altcoins a positive aura too.
Im not going to risk going anywhere but bitcoin to be honest..
Im not going to risk going anywhere but bitcoin to be honest..
Yes, Bitcoin is still undervalued.
As for the OP, some alts are rising on their own merit. Monero is in a big climb but has been steadily climbing for a few months, so it's rising on its own merit of what the coin can offer in real life. ETH has almost nowhere to go but up since it's come down so much. As for the others, drafting could explain some. My advice is to only invest in a coin if it offers real-life use cases, and vetted if it's been around for some time. For new coins, vetting can still be done on a limited scale but the real-life aspect still holds. Another way of looking at it: what does this coin do that Bitcoin doesn't? If the answer is "not much" then it will crash in time.
Delayed effect of the halving ?
Not all some of the cryptos that I'm supporting are having a hard time with it's price and it's volume as well not only price but those new ico's are also having a problem on how they can sell their ico to investors,it seems everybody are on Bitcoin because of the appreciation.
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