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/biz/ - Business & Finance

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20725828 No.20725828 [Reply] [Original]

Can someone tell me why shitcoins dump when btc pumps?

>> No.20725868

Because most of the trading volume moves over to BTC, which will soon (hopefully) bring in new buyers into the crypto space.

>> No.20725877

>>20725828
Fellow idiot here, my best guess is because once it starts to pump people dump their shitcoins hoping to jump on the btc moon mission which drives shitcoin's prices down.

>> No.20725884

its a normal thing...looks like you are new to the scene....

traders dumps their alts to trade Bitcoin....and vice versa happens when Bitcoin/Eth gets boring to them....its a repeating cycle over and over again....u just have to be wise NOT to panic sell...sometimes hodling enables you to recover the paper lose you see in your portfolio...

goodluck fren

>> No.20725905

>>20725828
Because you take profit in BTC. What, no one told you that?

>> No.20725932
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20725932

>>20725884
>u just have to be wise NOT to panic sell
>alt season is over
>btc pumps 5%, your shitcoin dumps 5%
>btc dumps 10%, your shitcoin dumps 20%

>> No.20725976

>>20725884
>>20725932
KEK yes you have to be wise and hodl hodl hodl losing 50% of your BTC value

>> No.20726082

>>20725877
>>20725884
it doesn't feel human
it goes to fast and i don't see the reason why normies would sell their coinerinos the second btc pumps and start buying back once btc crabs, plus it happens to most of them at the same time
it feels like it's some sort of automatic mechanism being triggered

>> No.20726325

>>20726082
It is, it will eventually end though. It is a cycle that has persisted since the beginning and it gets less and less strong. More and more projects are decoupling from BTC. It will be clear that it is not driving crypto adoption at some point and will go bye bye.

>> No.20726327

bumpy

>> No.20726362

>>20726082
It's not the normies, it's the trading bots. And yes, it is an automatic mechanism.

>> No.20727046
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20727046

>>20725828

>> No.20727061

>>20726082
There are lots of bots who detect BTC breakouts and instantly sell across.

>> No.20727110

>>20725828
>have large amount of portfolio in BTC because even boomers and banks hold it
>have smaller proportion in ETH
>rest in altcoins just in case one of them pumps
>BTC starts pumping
>convert alts into BTC
>BTC starts crabbing again
>convert back to alts

>> No.20727280

>>20726362
>>20727061
ok but why would the bots be programmed that way?

>> No.20727308
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20727308

>>20727280

>> No.20727519

Is there a lot of normie fomo from normies? Or is there no new money anywhere and crypto is just crabbing. All these retards think btc is pumping but it's not. Just consolidation from scammers taking profit on their uniswap gems and other hustles or cons. No real money is coming in or out so it doesn't really mean anything unless you plan on buying fiat or something(lol).

>> No.20727561
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20727561

>>20725828
its never been so easy to dump stocks into gold, as it is to dump cryptos to btc

>> No.20727566

>>20727280
Because the bots are programmed that way. It's the same thing in finance. Might be stupid but literally all the other firms are and you'll miss out if you aren't. Probably based on past trends.

>> No.20727593

>>20727519
This is retard level
BTC is the one who gets most of the money and it has the greatest market scarcity thats why it's always one of the best performing assets
>>20727280
to make $

>> No.20727596
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20727596

Is BTC essential to hold as part of a folio? Im heavy in alts atm and am done accumulating them.

>> No.20727613

>>20725905
winner

>> No.20727614

>>20725828
It's because shitcoins have no value. Their only purpose is to lure in idiots with pump&dumps to make whales richer in BTC terms.

>> No.20727619

My boomer portfolio is 50/50 BTC/ETH

Pretty comfy right now

>> No.20727627

>>20727593
What money? It's consolidation. I'd tell you to read my post that you're replying to but I doubt you would be able to.

>> No.20727641

>>20727280
It wasn't programmed by /biz/

>> No.20727712
File: 367 KB, 1050x605, Screenshot 2020-07-27 at 1.57.42 AM.png [View same] [iqdb] [saucenao] [google]
20727712

>>20727627
The money coming in from cash app, coinbase, binance, huobi, grayscale, that keeps going up at rapid rates. Do you even read?

>> No.20727899
File: 50 KB, 602x415, Learn Bitcoin.jpg [View same] [iqdb] [saucenao] [google]
20727899

>>20727627
bump for this dumbfuck

>> No.20727930

Money dumps upwards. But as much as people hate link, look at link/btc. There is literally no reason to be in btc. Holding LINK always outperforms btc.

>> No.20728026

>>20727930
no it doesnt
fucking retards here
smart ones hold both

>> No.20728103

>>20727519
BTC is pumping lmao, scammers consolidating a few thousand from Uniswap scams has no discernable effect of Bitcoin price. The marketcap of Bitcoin was raised by 10 Billion dollars this week.
Studies have suggested 1/50 of the marketcap is the real money which entered, so around 200M. That isn’t scammers, that is significant buying activity.