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/biz/ - Business & Finance

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8168152 No.8168152 [Reply] [Original]

Why the fuck are all alts bleeding to death? Even when good news comes out, they might pump for 30 minutes and then continue bleeding.

Its becoming so bad I can't even swing trade profitably.

>> No.8168173

>>8168152

where do you even think money to purchase BTC comes from OP?

Tip: its not from fiat.

>> No.8168195

> BTC Dominance on CMC in December 33%
> BTC Dominance on CMC now 41%
> Last week market cap stays stead, BTC Dominance climbs... gee, wonder how that happened?

People are realizing that most alts are a) shit b) reliant on BTC regaining ATH dominance.

Why would normies buy your alt bags if BTC looks weak and the overal market looks weak. BTC needs to get back to 19k+ back in the news, back in the hearts and minds of normies. They'll flock to the market after that, then they'll start the same fucking cycle of working their way down through CMC and shitcoin heaven.

>> No.8168197

>>8168173
I figured it was something like this, but I figured at least ETH and some others would remain stable. The are bleeding just as bad if not worse since they have never pumped.

>> No.8168202

>>8168173
Buying bitcoin with alts doesn't cause bitcoin to rise though, only its dominance. Only buying bitcoin with fiat or tether causes it to rise.

>> No.8168236

ITT: retards

>> No.8168250

>>8168202
>the absolute state of biz

>> No.8168286

>>8168202

buying BTC with alts does cause it to rise. It contributes tothe daily volume of BTC by quite a large percent. Fiat or USDT doesn't make up as much as you think. It just has more pushing power in terms of price movement.

sometimes a singel alt makes up 10% of the volume. Any time you sell something for BTC, you are depriciating what you sell and increasing the demand of the BTC.

>> No.8168514

>>8168286
That doesn't make any sense. Just because it increases the volume doesn't mean it has any power to push the price up or down in fiat (all it does is push the value of the alt in BTC up or down).

>> No.8168537
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8168537

>>8168202

>> No.8168567

>>8168514

It is the exact same effect as fiat has.

Everyone sells their BTC for alts, BTC goes down in value becase nobody wants to hold it. alts rise in value.

why do you think BTC wa consistently tanking in the alt January moon?

what you are arguing is essentially the same as saying that onlu USD can effect BTC price, but RMB, EUR, GBP cannot. they are all a form of currency used for trading and value.

>> No.8168596

>>8168567
So the alt boom causes bitcoin to drop, which in turn ends the alt boom and causes all alts to crash... what is the solution here?

>> No.8168622

>>8168152
Because most of this stuff is completely worthless?

>> No.8168681

>>8168622
Do you mean to tell me that my ICX and VEN is worthless?