Bitcoin going high sucks a lot of the value from altcoins
I think as soon as bitcoin stops going high or go down, altcoins are back on the show
But if we have more countries with financial crisis, bitcoin will keep going high
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Doesn't the price of BTC rising help altcoins? Say I invest $100 into BTC and then the price raises and it turns into $150. I could take some of my profits and reinvest them into altcoins since I have more money. At least that is how I have been thinking lately
When Bitcoin is getting high every takes out the money of alt coins to invest in a more profitable bitcoin, but it's beneficiary when bitcoin goes down the capital flies again to the alt coins and they some became very high
That seems a little backwards to me. Wouldn't you want to snag bitcoin when it's low and spend it when it's high? If I can buy alt coins with BTC I feel that the best time to do so would be when my BTC is worth the most. I can just restock my BTC but for what I have already put into it, it's worth more and am getting more for my money.
I'm talking about people I know that invest xxk's of fiat currency in coins, they have all now in bitcoin and as soon as it stops going up, they will invest in alt coins
But with the prediction of a rising bitcoin till January, they will surely keep their capital in bitcoin