Ninjastic
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Topic
Board Speculation (Altcoins)
Re: What will happen to alts if Bitcoin crashes back to $5000?
by
Omega Weapon
on 29/10/2019, 04:23:26 UTC
Quote from: smyslov on October 28, 2019, 04:23:40 AM
Quote from: msg768 on September 05, 2019, 02:21:11 AM
I don't think many alts would recover against Bitcoin if this happens and so they will crash even more. Some solid alts with good liquidity like Litecoin may recover but most won't recover in my opinion. Thoughts? Undecided
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Bitcoin at $5000 is going to produce a purge, those altcoins that are just pump and dumps and altcoins that are duplicate of existing projects and altcoins that are not good in marketing their coin and updating their community will suffer if Bitcoin drops back to $5000.
The one thing that keeps these altcoins from being purge from the market, is because Bitcoin is still going up, the trust is still there and they partake of these trust from investors.
Not really, during the beginning of this year we saw bitcoin lower than that value and yet there were still a record level of altcoins and I do not really see how this is going to change, as long as there are investors out there that believe it is going to be easy to make profits in this market then they will continue to invest in altcoins, and each new year cryptocurrencies are getting more popular so it is not like at some moment the money will run out either.