Re: If the BTC crash, will it take every other coin with it?
Always when BTC is going down so everyone else, do you think that in case of dramatic fall will every other crypto go down too?
so far each time bitcoin crashes, altcoins crash with it and most of them crash even harder because the panic in altcoins have always been more severe and there is no future for them so everyone panic sells not just newbies who didn't understand what was going on.Quote
And it brings me another question, when people sel their BTC, where the money goes? Do they make instant withdraws in USD and get out of the trade completely? Cos if BTC is going down some else should rise but whole market is on decrease.
people trade altcoins to make profit on the bitcoin they already have. when bitcoin drops they remove their buy orders to take that bitcoin to bitcoin/usd market so they can sell and buy back at the bottom.or they sell their altcoins because they know they are falling and they don't want to lose money. and also to have money ready to buy bitcoin with it at the bottom.
I don´t hold any BTC because I don´t see future in this coin, but...
this made my day, thank you
