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Relationship between BTC and alts
| cheese-eating shrine ladyboy | 01/05/18 |
| Infuriating Market | 01/05/18 |
| cheese-eating shrine ladyboy | 01/05/18 |
| Infuriating Market | 01/05/18 |
| cheese-eating shrine ladyboy | 01/05/18 |
Poast new message in this thread
Date: January 5th, 2018 11:19 AM Author: cheese-eating shrine ladyboy why exactly do altcoins and bitcoin move inversely? is it because people sell altcoins when bitcoin goes up (perhaps aiming to keep the USD price of altcoins constant)? or does the bitcoin price simply go up when people sell altcoins for some reason independent of the bitcoin price?
In other words, does altcoin selling drive bitcoin price spikes or do altcoins respond to the bitcoin price?
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Date: January 5th, 2018 11:25 AM Author: Infuriating Market Fiat <---> BTC (and to a lesser extent ETH) <---> alt coins
Right now normies can sign up for coin base but not many of the exchanges to get in on the alt coin madness so the price of BTC and ETH is going up. Once they get on exchanges the alts will moon again
When people feel the bubble on alts might be popping they will put their money back into BTC/ETH for safety. If they feel the whole market is a bubble they will convert back to fiat. The key is to one step ahead and cash out before the normies and buy back in on a yuuuge discount
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Date: January 5th, 2018 11:48 AM Author: cheese-eating shrine ladyboy 1. Not being considered a normie sent a big fucking chill down my spine
2. Can you clarify your diagram above? Thanks |
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Date: January 5th, 2018 11:50 AM Author: Infuriating Market The <---> means a bidirectional arrow of flow of currency. Right now there is flow of fiat into BTC and ETH but not as much on Alts since exchanges aren't taking new members (http://www.autoadmit.com/thread.php?thread_id=3850225&forum_id=7#35087463) |
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Date: January 5th, 2018 11:52 AM Author: cheese-eating shrine ladyboy Ah thanks (http://www.autoadmit.com/thread.php?thread_id=3850225&forum_id=7#35087474) |