About Bitcoin Price Trends

Something to keep in mind:

Most Altcoins can’t be bought and sold in US Dollars so people interested in them need Bitcoin/Ethereum/Litecoin to trade them. So when these coins rise, aside from people buying it to speculate it may be rising because...

• People are buying these with US dollars to invest in Altcoins

• People are buying bitcoin with their Altcoins to cash out their trades

Also the reason bitcoin often goes down is because of the opposite. As long as BTC/LTC/ETH are the few cryptos easily accessible in cash and the typical trading pairs for most exchanges expect this trend to hold.

Now if everything goes down like last Friday where Everything dropped that means people are going back into cash for whatever reason (take their gains, limit losses, to redeploy later)

When it comes to most ICOs which are only buyable with Ethereum means this trend is even more pronounced with Ethereum.

Another reason these all go down is when miners cash in their mining rewards to cover their bills for operating. (Yep, their electric company does not accept crypto)