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Market Dips (but the fundamentals haven't changed) - Correlation between Altcoins and Bitcoin by cryptobobby

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· @cryptobobby ·
$364.62
Market Dips (but the fundamentals haven't changed) - Correlation between Altcoins and Bitcoin
The crypto market is down a bit today, between 5-15% across the board for many cryptoassets, but I'm not stressing. Why? Because there is fundamentally nothing different than yesterday. Yup, nothing. Let's talk about Bitcoin's correlation with the altcoins and why even if you're 100% in alts, you want Bitcoin to performing modestly well. 

<iframe width="560" height="315" src="https://www.youtube.com/embed/tdlO-mqsk_U" frameborder="0" allow="autoplay; encrypted-media" allowfullscreen></iframe>

Buy Bitcoin, Ethereum and Litecoin on CoinBase and get $10 worth free:
https://cryptobobby.com/coinbase

Buy and Trade altcoins on Binance - https://cryptobobby.com/binance

Secure your Crypto with a Ledger Nano S: 
Amazon (faster shipping): 
https://cryptobobby.com/ledger-amazon
Ledger (slower shipping, but cheaper): https://cryptobobby.com/ledger

Get a Free Trial of Coinigy (the trading/charting software I use):
https://cryptobobby.com/coinigy

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https://steemit.com/@cryptobobby

Follow me on Twitter:
https://twitter.com/crypto_bobby

Join the Facebook Group:
https://www.facebook.com/groups/140921189836895/

Portfolio Tracking:
Blockfolio - https://www.blockfolio.com/
CoinTracking.info - https://cryptobobby.com/cointracking
Bitcoin.tax - https://cryptobobby.com/bitcointax 

*Some of these links may be affiliate links, meaning if you click and purchase something, I may receive a small commission at no additional cost to you. I only recommend companies and products I personally use, and any commissions help to pay for content creation. Thanks! *

** This is not financial advice and these are simply my own opinions, as such, this should not be treated as explicit financial, trading or otherwise investment advice. This is not explicit advice to buy these cryptos, do you own research.**
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 68 others
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vote details (132)
@ahmedafnan ·
thanks
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@aidan-crypto ·
Agreed, I have found that if you hold for at lest a month you will be much better off that if you hold for a couple of days.
What is your stratergy ?
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@amritrazz ·
Great post for information on current market scenario 
You may also like my post "Difference between Beginners Vs Professionals In current Market Crash Scenario !!!!" you can check it out on my feed.
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@andyellis1977 ·
I am investing in Ethereum for the long term.  I have put together projections based on previous performance and news updates etc and as far as I can see it still looks good.  I am still on target, as planned to make my planned amount from Ethereum!!
👍  
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vote details (1)
@araneobit ·
hallo,  We have an interesting project on 
money transfer, take a look please
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@bitgeek ·
comment
Congratulations @cryptobobby, this post is the third most rewarded post (based on pending payouts) in the last 12 hours written by a Superuser account holder (accounts that hold between 1 and 10 Mega Vests). The total number of posts by Superuser account holders during this period was 1335 and the total pending payments to posts in this category was $18818.09. To see the full list of highest paid posts across all accounts categories, [click here](www.steemit.com/steemit/@bitgeek/payout-stats-report-for-15th-january-2018--part-ii). 

If you do not wish to receive these messages in future, please reply stop to this comment.
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@conradsuperb ·
It's just the classic hurry up and wait... explosion coming soon haha buy at the dip is right and then hodl it out. Yuge profits coming soon
👍  ,
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vote details (2)
@aidan-crypto ·
You are 99% correct.
And i gave you a vote.
👍  
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vote details (1)
@cryptkeeper17 · (edited)
Ha ha I totally agree.  Markets are down because speculation has more swings than a Chutes and Ladders World Tournament.  Totally agreed, fundamentals haven't changed, at all.  I have posted a similar sentiment as well, feel free to check this out if you'd like, https://steemit.com/steem/@cryptkeeper17/see-those-prices-steem-hodlers-longs-buyers-time-to-be-excstatic your feedback would be greatly appreciated.  Thanks again for the post @cryptobobby!  Sincerely, @cryptkeeper17
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@cryptokraze ·
$3.09
This is just a drop in volume and we will get back on track as soon as bitcoin will break out of the triangle it is forming and we will see a boost in volume.
👍  ,
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vote details (2)
@juliealexander ·
Market Updates for these cryptocurrencies

1.Dash 2. Sia coin 3. Loopring 4. Bitcoin 5. Civic 6. Verge 7.Steem 8. Nem 9. Stellar Lumens 10. Ripple
11.Eos 12. Bitshares
Source
https://steemit.com/@salahuddin2004
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@cryptosee ·
+1200% POTENTIAL GAINS | DAILY CRYPTO PICK!
https://steemit.com/cryptocurrency/@cryptosee/1200-potential-profit-or-crypto-buy-opportunity-or-high-performance-blockchain-hpb
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@cryptotax ·
$0.51
Stocks go up or down every day. Gas prices go up or down every day. Crypto is no different,  maybe just another digit at the end of the percentage movement! Volatility for sure.
👍  
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@cryptobobby ·
lol another digit at the end of the volatility, that made me laugh. So true though!
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@dkn ·
Thanks for sharing your thoughts. The good pattern is a key to success! Here is <a href="https://steemit.com/ethereum/@dkn/10-eth-1-btc-look-back-and-tell-what-s-next">my idea</a> of the correlation between ETHBTC and BTCUSD
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@engrawaz ·
People sell their alts in anticipation of a bitcoin Bullrun, But since bitcoin costs about 3X the price a few months ago then it also requires 3X the volume to achieve the bull run. Better to hold your Bags for now.
👍  
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vote details (1)
@grafiktr ·
Thank you for sharing! I gave you a vote!!
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@hustletoparadise ·
$0.70
Down for everything except Neo and Gas <3
👍  
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vote details (1)
@itsokaytoeatmayo ·
Coinbase makes it too easy to buy in the dips.  Ha ha. I took the $$ out of my account so I'd stop spending. 😂
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@laythefavorite ·
Man you are awesome. I follow you on youtube too.
properties (22)
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@lukebrn ·
$0.54
Thanks for the update. It's clear that there is a correlation between the growth/fall of Bitcoin and growth/fall of altcoins, depending on the rate of change _of_ that growth.

Keep up the great posts, they're really helpful!
👍  
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vote details (1)
@cryptobobby ·
Thanks Luke, appreciate the kind words man!
👍  
properties (23)
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vote details (1)
@lukebrn ·
No problem! I just started a new blog series with the aim of helping people undestand how to become more financially free through passive income so that they can dedicate more time to what they love - namely the Steemit community! If you're interested let me know!
properties (22)
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@mawit07 ·
Rumors are in May lightning network will be up and running and transfer fees for bitcoin is going to nearly be nothing. If this comes true bitcoin will moon. I am holding until at May to see what will happen unless some altcoin is really that awe inspiring that I would switch btc into ;) Thanks.
properties (22)
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@michiel ·
$1.43
Over the last few years there were periodes that Bitcoin and alts were positive correlated and periods that they were negative correlated. I see most alts as in a bubble and BTC undervalued. I think because of this the correlation will break again soon.
👍  , ,
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vote details (3)
@benkalashnikov ·
Yeah I agree, most of the alts are way too overvalued, however, think that this alt mania will continue for a couple months.

Here's a powerful technical analysis on Bitcoin Gold:

Bitcoin Gold (BTG) - Analysis (162% POTENTIAL PROFIT) https://steemit.com/bitcoin/@benkalashnikov/bitcoin-gold-btg-analysis-176-potential-profit

![Screen Shot 2018-01-15 at 13.53.38.png](https://steemitimages.com/DQmUJGmH4AMXHmRx2JaY8G4V2GSuYXpsJL1y9AGHp8B6Cna/Screen%20Shot%202018-01-15%20at%2013.53.38.png)
👍  
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vote details (1)
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@cryptobobby ·
I'm scooping up Bitcoin on this dip.. I like quite a few alts, but I agree with your overall statement that alts are overvalued.
properties (22)
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@libertyhound ·
$0.06
I am not sure BTC is undervalued until it starts to scale. Once LN is up and fees are back down to <5$ I would say it is undervalued. In reality, it is more or less unusable currently.
👍  
properties (23)
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vote details (1)
@monjan ·
no need to worry these is just the reaction of a free market unlike the wall-street the blockchain will still survive
properties (22)
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@nanogivers ·
No need to worry! This is perfectly normal.
properties (22)
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@newageinv ·
My opinion is that the market is consolidating at the moment for BTC.  There is definitely pressure on the down side as people who have got in higher are looking to get out as close as to breakeven as possible.  Also, remember that a new tax year, people who held gains from 2017 are now taking profits to defer taxes until 2019.  Lastly, there still may be some more pressure coming as people may need to sell to pay for taxes from their hefty 2017 gains.
👍  
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vote details (1)
@nzfxtrader ·
$0.60
My mindset right now: BTFD !!
👍  , , ,
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vote details (4)
@cryptobobby ·
Yup, my mindset always.. Buy the dips hard.. Dollar Cost Average always
properties (22)
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@owaishassankhan ·
Reality work..nice effort..of original work.wow !such a beautiful post .image.photography.every line is nice way to introducing post yourself.I look foward to seeing more from this blog. All the best in 2018..@owaishassankhan
Can we fallow each other.if you like...i like it very much.
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@peterogwara ·
Thanks for this, @cryptobobby. But there are so many altcoins out there that one barely knows which will go up and which won't. Do they all follow this trend? How do we know which overvalued coin will begin to lose its value sooner?
properties (22)
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@radiobb ·
Hodl and buy some more!
properties (22)
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@realitycheck ·
Litecoin caught a bid yesterday and then sold off really fast, not much support out there at the moment.
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@safetony ·
corrections are normal buy the dip :)
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@th1nkfast ·
$0.13
I look at it as a buy opportunity.
👍  
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vote details (1)
@themobilewriter ·
Instead of looking at the market on daily basis why not look at the market on monthly basis or quarterly basis. This will save us from panic selling.
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@toan85 ·
I thank you!
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