The market cap of the altcoin are almost near equivalent to the market cap of bitcoin.
This is basic economics, people are cashing out altcoins for bitcoins however, the supply and demand curve is intensifying. Bitcoins circulating value has been reduced, therefore for altcoin owners to cashout they will need Bitcoin or USD Tether to do so.
This will cause owners of Bitcoin to Raise the number of altcoins needed to satisfy the trade, this in turn is devaluing these altcoins.
USDT has also taken a hit because people really don't want this stuff it is more like a value-peg a tool to hold Bitcoin's real world value at a certain price incase the market falls so a buy back can be done.
Bitcoin's price could go up dramatically when the market cap of the altcoins becomes less once more and holders of bitcoin starts to demand more coins to satisfy trade.
Altcoins are having major cashout as people are waking up to legitimacy issues. "which is good, More people are learning to read : ) yay!!!" Yeah scam coins exist and they look so legit the only way to know is to read.
With the rise of bitcoin you should beware of the price of altcoin "litecoin" as the only future it has is a corporate pump and dump. " real companies will accept this coin which drive up the price then they will dump it back on you to figure it out on your own."
My Thoughts; If you don't read your coins white paper you'll probably end up trying to hype it up on YouTube like they other morons that bought scam coins that they now need to get rid of.
Any Thought? feel free to comment
Like ? upvote , resteem
So - to summarize, it's your belief that the reason why the decline in prices for altcoins bitcoin is due to people making offset trades into the altcoins?
How do you feel about coins which are purported to be valuable for reasons other than simply market economy (steemit / eth / antshare / etc)?
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Steem value is one of the most purest on the market as anybody can gain steem without mining or buying it. Steem is also an experiment that is actually working.
Ethereum "ETH" a knock off of Ethereum classic ETC is something one should try to escape, as the ones pulling the strings are going to treat you just like the government treats the common man, ETH is valuable to programmers the careless kind or the corrupt kind. They will inflate and cash out as much as they can until the masses realize the centralization of this decentralized token. The Developers/programmers will be the first to get fed up as no fraud system last forever. The powers the Developers have over ethereum will scare the life out of you
Anshares : has value simply because it does what ETC and the knock off ETH does except for the fact that is does this in recognition by the Chinese. It is also a knock off of ETC and a enhanced mimic of ETH however its popular in china.
ETC: If you like the Idea of an incorruptible decentralized smart contract platform. The bad guy have no problems getting you caught in the Etheruem ETH smart contract that can be edited/altered after creation but when it comes to his smart contract and his wealth he'll be using Ethereum classic ETC that cannot be altered/edited. something to think about there.
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Litecoin only valid as a pump and dump?? Lol
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Litecoin sounds like a great coin however reading the white papers and information on All coins before investing and ticking off what they can and cannot do to figure out what they are.
I came to realize like many coins Litecoin is a watered down clone and has many watered down clones and if that wasn't bad enough there are many other coins that are not even clones that has the same functions that Litecoin has.
Regardless of what belief system is around Litecoin it is subjected to A lot of inflation simply because one does not necessarily need Litecoin specifically to do something.
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