Bitcoin Price Increases Altcoin Market Bleeding

Updated: 17 October, 2017 seen 225

For the past couple of weeks, the price for Bitcoin price has soared to all-time height $5,852.48 (October 15, 2017), while it might sound like a great news for bitcoin holders, altcoin market instead is literally bleeding.

As I'm new to crypto investments, with just a little bit more than 3-month experience, this seems both thrilling and scary. At the start, I thought if bitcoin price goes up, the same should happen with altcoins, turns out I was wrong. Luckily investments in altcoins take just the 10% from my total crypto portfolio. And as a matter of fact, my portfolio hasn't been negatively affected (yet).

Since, July 2017 I keep investing for a long-term (buy&hold) in following coins - bitcoin, ethereum, litecoin and ripple. The long-term portfolio gives a lovely +30.75% value growth. With value growth for Bitcoin taking its lions share (+60.16%)

Bitcoin and top altcoin portfolio

Bitcoin and top altcoin portfolio

For tracking cryptocurrencies, I've built a custom Google Spreadsheet, you can read more and download here: How To Track Your CryptoCurrencies Portfolio Automatically Using Google Spreadsheets

For  speculative trades, I have built a smaller but much more volatile altcoin portfolio trading against bitcoin:

Altcoin market bleeding

Altcoin market bleeding

For tracking altcoin performance I've built a separate Google Spreadsheet, read more and download here: Google Spreadsheet To Track BTC/Altcoin Trading on Monthly Basis

Right now this altcoin portfolio gives me a -42.75% value decrease.

Now if there is a lesson I've learned in the past couple of months while exploring investments in crypto-currencies, then the most valuable lesson I've learned so far is to buy&hold only.

I still feel bullish regarding bitcoin price reaching $10,000. not sure will it happen in the next 12 months, but for the long-term - hell, yes. 

For a possible reason why bitcoin price is rising so high, see: Another Bitcoin Hard Fork Planned (Bitcoin Gold) - My Approach to Survive It

The Bottom Line

While it might look like the rally for bitcoin price climbing up and up, will never stop. In the short term, I believe that after forks completed, the price will decrease. The question concerns me most, how will altcoin market recover from such a high drops.