Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: Cryptolang on February 03, 2021, 11:41:54 AM
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Most altcoins (every cryptocurrency except Bitcoin) are pegged more closely to Bitcoin than Asian currencies were to the USD during the Asian Financial Crisis.
If Bitcoin price pump drastically, altcoins price can go down as people try to exit altcoins to ride the BTC profits; inversely, if Bitcoin prices dump drastically, altcoin prices can go down, too, as people exit altcoins to exchange back into fiat. The best times for altcoin growth appear when Bitcoin shows organic growth or decline, or remains stagnant in price.
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The price relationship between bitcoin and altcoins does not stand still and is constantly changing. In the second half of 2017, when Bitcoin began to rise sharply in price, all altcoins also grew in price. When bitcoin then lost about 70 percent of its value, altcoins lost 90-95 percent.
Over the past few months of the current high growth of bitcoin, we see that at the same time, more potential altcoins began to rise in price. Moreover, some of them continued their price growth even when bitcoin stopped or even fell slightly in price.
Many now hope that during the period when bitcoin will stop at the peak of growth for some time, then the altcoin season will begin after that, as capital is expected to flow from bitcoins to altcoins.
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Dominance of Bitcoin is major topic now a days. Altcoins will grow when dominance of Bitcoin decrease.Increase of Dominance is that Money is going to Bitcoin.Dominance decrease means Alts will grow.
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Bitcoin is the king of crypto coins and the most popular and most potential coins. That's why the dominance of Bitcoin is very influential in all altcoins. Currently the price of bitcoin is very high, there must be a lot of altcoins whose prices even fallen or have fallen. Because many investors are investing in Bitcoin, to make a profit there. Meanwhile the altcoins were abandoned. But there are also some altcoins that have the potential to grow alongside Bitcoin. When the price of bitcoin has stopped at its peak and starts to fall, that's when the Altcoins will start to rise in price.
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As bitcoin is the starter of the crypto market and very popular its price also has a huge impact on the full crypto market. As it is a very hogh potential coin and its market dominance is very high. The change in btc price also influence the Altcoins. The full market follow BTC. most of the time.
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I think now is a different time and with the growth of bitcoin, altcoins will also show growth against the dollar, since there is an altseason and no one will sell altcoins, which will give more profit percentages than bitcoin.
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I think now is a different time and with the growth of bitcoin, altcoins will also show growth against the dollar, since there is an altseason and no one will sell altcoins, which will give more profit percentages than bitcoin.
This is largely true. Now we no longer see a clear price following of altcoins for bitcoin. Some altcoins behave in opposition to the price movement of bitcoin, although in general, bitcoin dominance still persists. If this trend continues, it will be good.
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I think now is a different time and with the growth of bitcoin, altcoins will also show growth against the dollar, since there is an altseason and no one will sell altcoins, which will give more profit percentages than bitcoin.
This is largely true. Now we no longer see a clear price following of altcoins for bitcoin. Some altcoins behave in opposition to the price movement of bitcoin, although in general, bitcoin dominance still persists. If this trend continues, it will be good.
In any case, the dominance of bitcoin in the cryptocurrency market exceeds many times, in contrast to the indicators of all altcoins combined. One way or another, investors have more confidence in Bitcoin than in other cryptocurrencies, and raising institutional capital is a very clear example of confirmation.