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antonroux39

Disappointment in Other currencies

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I have checked the ups and down of other cripto currencies for the past month. It does not need a rocket scientist to see that all other currencies is direct proportional in value as Bitcoin. If Bitcoin goes up so all the other. If bitcoin dive all other dive as hard. So my question is. Why invest in other currencies if bitcoin is the major factor in determining the value of other currencies. Ethereum and LTC have moved nowhere in a months time. Very disappointing

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At this stage in the game, I think it's a "confidence" environment. When bitcoin is shaky or some bad crypto news comes out like China then people bail back to Fiat in a rush and that sparks panic and everyone sells especially the alt coins. 

 

Reality is that Bitcoin is the only coin at this stage that has any influence with a market cap dominance of almost 49% (https://coindata.co.za/) it does not really have any competition or alternatives at this stage. If I had to dump 100 bitcoins I think I will rather bring it to fiat than stash it in an Alt coin. 

 

When we lessen Bitcoins market dominance then people might park funds in alt coins to weather the storm in stead of taking it to fiat like they are doing now.

 

2017-09-09_18-01-20.jpg.a97ef4618ee339c454481429c2ba2a68.jpg

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