Ninjastic
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Board Speculation (Altcoins)
Re: only the price of Bitcoin is increasing?
by
d1ceplayer
on 10/05/2019, 13:26:16 UTC
Quote from: partysaurus on May 09, 2019, 04:11:45 AM
Quote from: marycrazy08 on May 08, 2019, 11:27:32 PM
Quote from: kevinzxz on May 08, 2019, 11:24:31 PM
as we see, the price of Bitcoin starts to grow and soon the price of Bitcoin will reach $ 6000 or even more than that, but what is happening now is the price of other cryptocurrency does not increase when the price of Bitcoin increases, because usually the price of other cryptocurrency will increase also when the price of Bitcoin increases, so what do you think is happening now? does the price of Bitcoin not affect for the price of other cryptocurrency again?

I think the main reason is that, people are pulling their assets from Altcoins and dumping it to Bitcoin as it is increasing. When Bitcoin starts to drop, we might see people who will pull out from bitcoin and dump their assets to alts.


Yes saw something very similar to this in 2017 , xrp rocketed and alot of other alts in december right before btc got to its peak and started to drop when ppl where moving btc to alts instead.
Prices would not drop if peoples started to move their BTC into Altcoins. This might hike up the prices for the altcoins. We have already went through a bull market in 2017 so we could expect the same to go on with this year too. There are some similarities which bitcoins are been showing us exactly same as they did in the early 2017 before the price for bitcoins crossed $15000.

The graphs slowly and steadily started growing which would feel more peoples attracted towards bitcoins and would invest in here. Usually, if bitcoins go on the peak then it would also take all major altcoins which majorly depend on bitcoins along with it and so did the XRP last time.