We all know that bitcoin has been flying high since the scaling debate but why aren't Altcoins receiving more attention now that the uncertainty over bitcoins scaling has been resolved for now.
My theory is that Altcoins need the right conditions to thrive. The market doesn't like uncertainty in bitcoin. It doesn't like massive bull runs or big corrections in bitcoin. The Altcoin market likes a stable sideways moving or very slow increase/decrease in bitcoin. Wild swings and big news like hardforking don't provide a good environment for Altcoins to thrive in.
I'm optimistic that bitcoin will stabilize or at least slow down its growth in september. This should give Altcoins a chance to recover some of its losses vs bitcoin they've had recently. If you are stuck holding Altcoins, now might not be the best time to sell.
Thanks for your informed analysis on the matter. In fact i have been having a hard time wrapping my head around the fact that some altcoins i was watching, were doing badly or not showing any market response against bitcoin's steadily rising price...
Your post helped to clarify it finally for me. Truly, if bitcoin is less volatile we will see more growth in altcoin trading...
Its only normal if some altcoins still perform well while majority of them are not doing well; there will always be exceptions to the rule.
On the whole, well done!
please accept this gift
I hope so
That doesn't apply to any altcoin - I made 134% with IOTA within the last 13 days ... thats not that bad... Bitcoin runs, because its the only coin the lower informed know about.... Transaction times and the high transaction fees make it worthless for me... I mostly hold altcoins and am better off than with BTC so far...
You were smart to be holding one of the few coins to have gains vs bitcoin. Those who research will be rewarded!
I don't think things will calm down any time soon. With the hard fork in November, talk of another btc split and all the ongoing hype etc, I think we are in for a roller coaster journey between now and the end of the year!
The scaling debate will never end as bitcoin needs to scale for mass adoption just like the internet did. We have about 2 months until the next event, which in the crypto world is a long time. There's no big events in september and therefore it should be calmer than what we have just went through. Keep in mind that most experts agree that the 2x hardfork won't be as big of an event as the august 1 signalling segwit event. Infact if miners don't signal for 2x, than there won't even be a hardfork.
@cyberblock It all depends on the coin. BQX is one that I am enjoying gains from right now, and it takes taking a statistical sample of the coins the various crypto analysts are talking about, then doing your own research.
Yes there are always a few anomalies no matter what the market conditions.
Doonaberlin is right, altcoins are not crashing, I made 3k in the last 2 weeks with only altcoins (20 of them) ! Take a look at $ADX $BAT $RUPX $ZEC $VOX $LBR $NAV $DASH $DBIX $NEM ....
Well yes, there is so many coins that of course some will have had gains. Take a look at the top 20-30 coins vs bitcoin. Almost all are way down vs bitcoin.
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Thanks for your point of view. For someone who doesn't know much on the subject, it helps to make a stand