I don't understand, wouldn't it make sense to move your Buttcoin on over to other coins like Ether on the sight of bad news? Why isn't Ether going up when Buttcoin goes down we thought these altcoins where inverse to the buttcoin?
>>2069987
you buy altcoins when your bitcoins are at an all time high because they dump when bitcoin pumps
once you're comfortable with your altcoin investments, you move them back to bitcoin because it's gone down
Moving my shit around to shitcoins and xmr. Figure the droogies are gonna start using xmr over btc as it isnt losing a shit ton of its value atm.
>>2069987
BTC holders are cashing out through Bitfinex now that they're enabling more withdrawal options
That's money coming back to fiat, not into altcoins, that's why altcoins aren't going up in the same proportions
Still, the meme ransomware attacks today were already stopped by a killswitch in the malware (not even joking, the group who did this was amateurish as fuck), and that's the only thing close to bad news today
because the alarm bells hasn't rung, it needs to dip harder, only weak hands are pulling out now
once the whales can sense it wont pump again, then they'll exchange their btc for eth
the entire crypto market falling is indication of a loss of faith in the core technology and its acceptance in society
the fact that alts arent rising while bitcoin falls this time is... not good...
>>2070028
I think a lot of the spike in price was due to a lot of newbies getting into crypto for their first time. For them seeing this """crash""" gives them a bad taste and they pull out. Due to this, I'm not sure how quickly it is going to go back up after the dip stops.
>>2070040
>Due to this, I'm not sure how quickly it is going to go back up after the dip stops
Probably by monday when people cash their margin trading shitcoin gains back to BTC, just like last weekend