Why Altcoins Down & Bitcoin Price High ?
Today 13 Aug-17, Let's have look at the price of bitcoin on Bittrex is started from 24 hr low price $ 3646.10 and 24 hr high volume is $ 4115.00 and the last price $ 4020.00. If we look at the Poloniex exchange BTC/USDT 24 hr low price $ 3650.00 and 24 hr high price 4252.84 and the last price 4037.64, exchange. more if we look the Current price on Coinmarketcap is $ 4,071 In past 48 hours the approximate growth in Bitcoin is 13.11 % its all time high so much fluctuation in crypto-exchange market.
Image Credit: Cryptohustle.com
*Below Image Courtesy: Bittrex
Image Courtesy: Poloniex
Around $ 600 price low and high today 13 Aug. The target of bitcoin after activation of Segwit 2X is already achieved. here we look in Bittrex the altcoins, maximum coin price fall down. almost 80% to 85% altcoin goes down,those coin which are pump up such as NEO & SAFEX. The both coin still in growth NEO 3.6% and SAFEX 7.2% but the majority of coins dump.
The majority of trader did day trading and its highly risk. They put some investment in any coin which pump-up their objective are short-term. Those who are long term investor must consider DGB, BAT, SIA, ETH, LTH XRP.
So, those who are long term investor, Just stay calm once the bitcoin stable at particular price or you may say Bracket of $ 4,050 to $ 4,150. The altcoin prices will rise up again. I hope this analysis will be helpful for Trader or Investors. But at the end of November the bitcoin price will reached to $ 5,000.
Nicely written analysis! It's crazy to see Bitcoin above 4000 USD! I think that the 5000 USD value can be reached before November, for sure if the regular stocks keeps on decreasing in value! As a long term holder of a diverse portfolio I'll hold and buy more on the dips of every coin I'm interested in! Neo gave me a 700% rise in value, which is really nice! But I ain't cashing it out, it will go more up in the future... Holding for the long term is fun, watching the market go up and down, people panic selling while I just sit back and relax!
NEO, is a perfect coin for those who invest for long term. As per my analysis NEO will boom again in September. Currently they 1.7 Billion Dollars Capitalization. More if I suggest Ripple in future it will rise up too.
Ripple was one of my first successfull picks! I bought them while they were below 1 cent each, so I got plenty of it! Hope to see it to go to 50cent or more!
Wow, That's great it will give you benefit soon. In next 24 hours when the fluctuation in bitcoin reduce it price will stable at some decent level. The altcoins will rise again. In next 6 hours I will write 2 or 3 altcoin coins analysis.
You didn't answer question why!
Well there are many reasons for the same ranging from being the oldest digital currency to the demand and supply of the coin and being the safe haven for the investors throughout the world during global crisis.
That's my mistake, I accept the reason behind the price down of altcoin is majority coins are decentralized they had a huge impact of Fluctuation in Bitcoin 24 hours High & Low Volume, In simple term if there is huge changes in number of satoshi Increase or Decrease the altcoin affect directly or indirectly unless and until the price of bitcoin, High-Low Volume of 24 hours STABLE in certain Bracket of 500 to 1200 Satoshi Up & Down.
So, the point is mostly those coin effected which are decentralized they will not survive the wave of rapidly changes in bitcoin price.
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Nice post steem wqs rising nice yesterday before the new big up bitcoin.
Thanks Connect with me on Steemit. I will post more analysis of some coins today.
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STOPSolid post. I was about to start a similair discussion. The biggest group of uneducated investors in mankind get's a shot to determine the price of a crypto. It's an interesting world we live in. Besides coinmarketcap.com there is: https://www.coincheckup.com They give great insights in the team, the product, advisors, community, the business and the business model and other techincal insights. For example: https://www.coincheckup.com/coins/Bitcoin#analysis To check Bitcoin Report.