Post
Topic
Board Altcoin Discussion
Re: Bitcoin is draining the altcoins
by
Ailmand
on 01/12/2017, 22:51:25 UTC
Price of altcoins is dropping, nearly 85% of altcoins suffer from the recent bitcoin boom because most people exchange their coins for bitcoins.
What is your thought on this matter?  
Well there is no suprise about this, the cryptocurrency market is all centered around the big one, every one is working to get bitcoin because in people's eyes bitcoin is the only successfull coin, poeple only started to use altcoins just when mining bitcoin started becoming more and more difficult, so mining other altcoin with a less difficulty than bitcoin with a much lower coast machines is much profitable than dierectly mining bitcoin, and of course they do all this just to be able to exchange it to bitcoin so they can get even more profit, because everyone knows that altcoins are very unpredictibale and could crash at any time because they have a much smaller user base than bitcoin.

 
I think this is only a temporary set up because the price of bitcoin is soaring right now. It holds true that bitcoin may affect altcoins negatively, but it won't die for the reason that altcoins is the main agent that gives flavor to the bitcoin market. There will come a time that alts would adjust with the movement and trend of bitcoin.