Ninjastic
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Board Altcoin Discussion
Re: What kind of magic is this?
by
Haunebu
on 14/08/2018, 06:59:09 UTC
Quote from: Maks.fadeev1978 on July 30, 2018, 05:18:50 PM
Quote from: Herbert2020 on July 20, 2018, 06:09:20 AM
Quote from: annicketucufaw on July 20, 2018, 02:39:36 AM
But the question is, Bitcoin price/value is still going up but the price/value of every altcoins especially Ethereum goes down. How did this happen?

because this has always been like this!
when bitcoin goes down => altcoins go down also
when bitcoin rises up => altcoins go down instead

reason? i believe it is mainly because the money always goes back to bitcoin which is the only coin that everyone really cares about and believes in when it comes to real investments.

and there is a couple of exceptions to the above rule:
when bitcoin is stable => altcoins get pumped
reason? because during bitcoin stability traders can not make the same profit from it so they go to pump altcoins and make profit

when an altcoin is already on a pumping spree => that altcoin pumps
reason? because you can't stop a pump from happening. when the rocket is launched there is no stopping it until the pump reaches its peak of the bubble and then there is no stopping the bubble burst and the dump.
The best reason I've seen here.
This is very good theory and I think this is very close to the truth. Now market is very unstable and huge money still waiting or just holding BTC. A lot of altcoins just scam or don't have any working products or potential to grow. Not much of them will survive, but on altcoin you can get more profit obviously. if you're holding Altcoins don't sell it. If you have money and don't know what to do, maybe BTC would be best choice for now. I bought a little BTC when it was about 6000 amd I don't want to sell it. I think soon bull market will come.
I agree with you. I have observed that Bitcoin and altcoin values are usually directly proportional to each other majority of the time and inversely proportional to each other minority of the time which is why this is nothing surprising in my opinion. There is no rule stating that they should always rise together. At the end of the day, almost anyone would believe in Bitcoin more than any other coin or token due to its popularity which is in a different league. Whatever the case, there are possibilities to earn huge profits no matter how the market behaves though.