Quote from: Tytanowy Janusz on July 08, 2021, 08:26:30 PM

Quote from: pooya87 on July 07, 2021, 07:10:59 AM

They don't really. They are just affected by what bitcoin is doing. If bitcoin price is changing they always get dumped. And whenever it is stuck in a fixed price like these days the shitcoins start pumping simply because there is no profit to be made day trading bitcoin at a fixed price like 34k but a lot of profit to be made in shitcoin pumping and as soon as bitcoin starting moving they dump those shitcoins and come back to bitcoin; which is why altcoin always dump when bitcoin moves.

When BTC goes up Alts on the BTC/ALTcoin chart dump but On ALTcoin/USD they go up ... just not as fast as BTC do. Depends on market condition.

My post was not wrong either. When I expect high volatility on BTC very soon (like the day when I wrote my post) I call TA on altcoins useless. As we see today, BTC broke support and everything is -10%. If something did not drop means it is not actively traded. If BTC would pump 10% alts would pump at least 5%.

That's just because of the large army of arbitrage trading bots working tirelessly between altcoins and bitcoin in a 3-way arbitrage game, essentially by buying the shitcoin with bitcoin and selling it for fiat to close the gap as the shitcoin get dumped against bitcoin hard. Otherwise I wouldn't call that a "5% pump".