Altcoins Will Be Destroyed By Bitcoin, Warns Analyst Following Jump To $8.5K

[sirty143]

Altcoins Will Be Destroyed By Bitcoin, Warns Analyst Following Jump To $8.5K

The latest move sees Bitcoin break above its immediate resistance of $8K and further extend this to break its higher high of $8.5K... See more for yourself here.

Your opinion is greatly appreciated.

[ComeBack]

It was really surprising that it breaks the wall at $8k earlier than expected. But of course, we must still be hoping that it will not totally be going to destroy the altcoins. Altcoins might not able to reach the gap and momentum to avoid getting destroyed but let's see if it will not really gonna happen.

[Octoalts]

Not always Altcoin will be destroyed when the price of Bitcoin rises, but instead many altcoins will follow the price of Bitcoin.
Bitcoin is a Parent of Cryptocurrency, there are still many Altcoins whose prices depend on Bitcoin. And I see, Altcoin prices have begun to crawl up.

[UNIVERSE]

I don't think that Bitcoin will destroy altcoins, how can? We all know if Bitcoin is rising, then altcoins follow it. It means positive movement on Bitcoin price can trigger good trends in altcoins. SO, don't worry if Bitcoin to continue rising, other altcoins also have positive trends.

[Malam90]

Bitcoin reached $9400 yesterday and today declined at $8700. The jump of Bitcoin will destroy shitcoins but not all altcoins. Strong, real and top favorite coins will exists even Bitcoin huge jump. Only Bitcoin is real in the crypto world i think.

[I-Bit]

Bitcoin reached $9400 yesterday and today declined at $8700. The jump of Bitcoin will destroy shitcoins but not all altcoins.

Agree, only shitcoins will be disappeared, but top altcoins will increase as well. We have no problem with top altcoins, they are strong and even have a big community. So, there is no reasons for them to be destroyed by Bitcoin. Unfortunately, Bitcoin has declined today, will it increase again? 

[trauchot]

Unnecessary altcoins by themselves will die due to the fact that no one will buy them and the developers of such unnecessary altcoins themselves stop working to improve the capabilities of the altcoins they created, and of course, bitcoin is still the most demanded in the cryptocurrency world.

[Andruha1993]

It is very good that Bitcoin is breaking the wall and its price is rising. I think soon we will see Bitcoin more than $ 10k. I think we were left waiting for quite a bit.

[Paglamon]

Bitcoin reached $9400 yesterday and today declined at $8700. The jump of Bitcoin will destroy shitcoins but not all altcoins. Strong, real and top favorite coins will exists even Bitcoin huge jump. Only Bitcoin is real in the crypto world i think.

Yes, bitcoin is a real currency in the world of cryptocurrency. I think it will last forever. But some frauds have pushed back bitcoin. However, the state of bitcoin will reach a stage in the future that will be out of our thoughts. Those who will invest in bitcoin will be the richest. but I do not fully understand your words.

[Fenix]

Altcoins can no longer disappear. As long as a decentralized cryptocurrency exists, altcoins will exist. Positive events occur not only in bitcoin. In addition, when Bitcoin began to grow rapidly in price in 2017, the price of altcoins also increased. It should also be noted that the price of bitcoin due to a reduction in rewards to miners will not grow immediately and quickly. This event will last for a year or two. It will be intertwined with other important events in the cryptocurrency. And altcoins are still developing faster than bitcoin. Therefore, you should not worry about altcoins.

[pelana vreo]

I have seen that there are many altcoins that do not have a price and are abandoned by the developers, Bitcoin is very influential on the rise in the price of altcoin, but not all altcoins will be destroyed, because there are many altcoins that have good products and can be developed as we have seen in coin rank in the coinmarketcap.

[Senin]

No, that will never happen. In general, altcoins will continue to develop very well, which they are doing now, despite the bitcoin price pressure on them. Along with the expected increase in the price of bitcoin during the year after its reduction, in November it is expected to introduce improvements in ethereum. This should also sharply push the rise in the price of this coin. And for ethereum, tokens issued on its platform will also go to growth.

[Delgboke]

I think this is not actually first time bitcoin is breaking the record of 8.5k if not how volatile bitcoin is the price would have be high than it is currently so the effect it has were altcoins are is not actually a negative one , definitely any altcoins that's abandoned can easyly die off even when bitcoin price increases.

[juv3ntus1]

All altcoins price is affected by the move of bitcoin price but i don't believe they will be destroy if the teams behind keep working hard to develop and to deliver good results by making usefull in real world.

[Noverteno]

All altcoins price is affected by the move of bitcoin price but i don't believe they will be destroy if the teams behind keep working hard to develop and to deliver good results by making usefull in real world.

Altcoins will be freed from the price dominance of bitcoin only when the level of bitcoin capitalization will not differ so much from the advanced types of cryptocurrency. Bitcoin's capitalization rate is now around 64 percent. Since many other cryptocurrencies have now bypassed the functionality of Bitcoin, a drop in its capitalization over time will be inevitable. Then the cryptocurrency market will be free in pricing. Now, in the decentralized cryptocurrency market, there is a tough centralized dominance of bitcoin in relation to cryptocurrency prices.