Bitcoin Forum

Hi. Amateur altcoin fan here.  ;D

As you can see in this picture most altcoin prices are less than they were 1 hour ago and 1 day ago and it means they have been dropping recently. Any ideas why it's happening and when will the market get bullish again? Does this kind of bearish alt market happen frequently?

Provably because most altcoins are a bunch of pump and dump scams.

"Most of them (not one of them)" were bullish a few days ago and most of them are bearish today. There must be a better reason...

Shorters taking their ill gotten gains from the market ready for the next leg up. It's normal market behaviour and nothing to concern you if you are playing the long game.

The market giveth and the market taketh away. That's the way it's been for ages. From this vantage point, the altcoin markets are just an ultra-volatile speeded-up version of any speculative market.

Well its just a nature of altcoin that there's a dump and pump.. Most of them are scam and Maybe some traders are bored to hold some altcoin and they are planning to convert back to bitcoin because is nearly halving..

Shorters provide liquidity during a crash, because they must buy to cover and profit. Shorters' gains are thus not ill gotten.

All these altcoins has risen in the shadow of Ethereum. It is a common pattern. When the main coin (formerly only Bitcoin, now also Ethereum) rises then all other altcoins rise, too.  When the main coin drops (Ethereum) then all other drop, too.

People take profits from time to time. It's normal (and sensible) behavior. Markets zig-zag - if you see one going straight up relentlessly it's usually a bubble in it's upward stage.

Interesting idea, but if that's the case shouldn't all the coin charts (e.g. 7-day charts) look like together? As an example take a look at ETH and FCT charts. They don't look like together at all, do they?  ;)

Indeed. This is why it's good to see ETH correct and then slowly rise onwards. It's a healthy market and Ethereum is a fantastic new tech.

+1 at this , cant even remember how many alt coins iv seen come and go :/

This, plus can anyone really explain why any market rises or falls?  I know financial pundits' lips never stop working but the true reason(s) for market fluctuations are never really clear.

Because you're looking at an hourly change, and that hour stuff was down.  In such an incredibly short term time frame fundamentals have nothing to do with it, and the answer to your question of why things went down is that there were more sellers than buyers that hour.

Go look at longer term.  Altcoins are in a massive bull market right now, lead by ETH.  Most of them have been going up the past several months.

Some days the coins go up and sometimes they go down, I have noticed there are periods that every coin goes down and prices are going very low.
Like with Mintcoin It recently dropped to 5 satoshi which I tought was Impossible already.

No it is back up at 10+ satoshi but I have learned anything can happen, but don't worry after a downfall comes a climb and most of the times a big one.
Unless the coin is bad then it deserves to go down!!

It's the 15th

See my Monthly Bitcoin price boost / dumping topic ;)

https://bitcointalk.org/index.php?topic=710859.0

I see it as the majority prepping for the Rise and dump.. 2 week periods that repeat forever.
The bailing on Altcoins to be in possession of BTC for the rise of it..
Then the Buy back later when the momentum swings in the other direction.

I also seen this on Cryptsy in the old days.
Patterns would show when China woke up for example.

And a LOT of users admitted they sold when they went to sleep then bought back when they got up.

Lots of patterns out there if you look.

Bitbay is easily a hugely undervalued altcoin! Has the only true decentralised marketplace. Has David Zimbeck as the lead Dev (creator of Halo & Nighttrader) and it getting pegged to the dollar to have a stabilised price to avoid huge swings.

It had a dodgy start with the ICO scam but that wasn't their fault & Bob surplus's gang dumped and ran (which is why it's undervalued as people are put off by this) but now after a year that's all gone and the coin has recovered.

It will be a top 20 coin before the end of 2016 for sure

Many of the coins have been pumped to a high level so naturally the price will drop when people take their profit. If you compare the price one month or two months ago, you can clearly see that most of the coins are green.

bullshit..
how would most coins keep going up when you said "people were taking profit" ?

do you understand how coins increase in value ?

do you know that the user base in crypto has been shrinking over time ?

picture this.. over time more & more users leave dumping more & more.
somehow to you guys this means that were at all time highs and people are flocking here in massive hoards
and all coins are shooting up in value. WRONG !

I know this because i was here when that DID happen in Winter 2013.

delusional..  ::)

Oh and shane before i looked i knew damn well what i would find LOL
Your first comment.. from February 25, 2014 (Also registration date)


Sorry sweety but you know fuck all son.

That's true and this is not going to be the first time that this is going to happen,altcoins are just pump and dump and they want to make fast earnings as much as they,because the truth is there is indeed a lot of money from alt coins

From the word itself, 'altcoin' means its just an alternative coin, many have tried to create alt coins when they found out that bitcoin did boom in the industry. But most altcoins prices dropping because of the usage of bitcoin.

want to claim prices are "up" ?
want to compare user growth etc ?

Then you do it from the last major great surge of popularity.
You start counting from say OCT, NOV or even DEC 2013 until now.
THEN you show me your little graphs about how "ALL" Altcoins are going "UP" in value.

Sooner or later the coins that have true advances and development will rise and all the phoney meme wannabe coins will vanish. Buy wisely, look at what the devs are creating and the Long term plans.
I like someone else also own Bitbay along with other coins I think will do well in the future.

ALTS are always good opportunity if you have much time for investigating and investing in right ones.
If you see prices falling it is time for buying not for panicking. I see many coins right now have really low prices, and some of them are already in accumulation phase.

Me and my friend's dilemma: we bought some altcoins.

I bought Fedoracoin, Factom and Monero; my friend bought Fedora and Syscoin.

Fedora: After 3 weeks of bullish market, right after we bought it for USD 0.000039 and 0.000035 respectively, it crashed and right now it's USD 0.000023!
Factom: I bought it for USD 2.25 and the coin which has been 2.6 one day earlier crashed to under USD 2 prices!
Syscoin: Right after my friend bought it today for 0.0093 its long time bullish market stopped and now it's 0.0091!
Monero: The only coin which has given me some small profit...

So, we can't help but think we are doomed or cursed by some kind of wizard to be the unluckiest altcoin traders ever!  :'(

I think its time to buy and if you have altcoins keep them.

Everyone is cashing out the crap coins in order to buy more ETH

It is just because alt really doesn't have enough investor it is part of trading strategy of the whales who always do pump and dump after that nothing will happen to the future of any alt that has been made unlike btc who already established popularity and already used by established company.

Exactly.  There are a lot of interesting altcoins out there right now and some with some healthy market caps.  Might be a good time to grab cheap ones that are not scams and wait.  Some of these have major legs.

don't think so, ethereum is dropping also, i think the demand is dropping, because the interested is lower now, or miners are dumping like mad

The demand will pick up at $2.

i am also an Amateur altcoin trader, i think you should not look too much into any change lower than 1% in altcoin market.

all the change percentages in the picture are 0.6-0.01% which is not really a big deal a market that is being pumped 10x and dumped the same amount down.

but also i think the reason for this downtrend is because all the investments are moving back to bitcoin for the halving big rise.

I think why the alt are dropping is because people are holding their bitcoin and doesnt want it to be circulating in the market.
These people are waiting for the halving and they are gathering as much as they can.

Ethereum is a true wonder.  How it has grown this fast I have no idea.

Probably because it has many whales as investritors so they protecting their investment for some time.
(Till you relax and forget that this is just another ico.) What happened with those ico projects and bot integrated wallets?
I remember last year few coins were so popular but at the end they were false promises and scams.

my theory : crypto-gravity

no cryptocurrency can escape it unfortunetely, it always catches up.

Will you please explain your theory a bit more?

whats the saying again ? a picture is wearth a thousand words ?

https://i.imgur.com/tp9JUYt.jpg

to summarize : baddd crypto gravity guy / thingy

This pattern holds not for every coin but for most. You can observe it on each pump and dump of Bitcoin and now for Ethereum. There is also a delay sometimes. Correlation definetly exists.

Because people are in anticipation of BTC mooning. Happens everytime around OK quarterlys contracts are up. Alts will be strong again in a few weeks. Then when BTC halves alts will die for a bit again. Read the charts. 

Why ? Because I predicted it !

http://getmetal.org/uploads/posts/2016-03/1458353348_cover.jpg

It's fuckin' science bitches !

Spoetnik haes Spoeken !