Bitcoin Forum

Hello traders,

I saw a BTC dump coming and cashed out most of my BTC to EUR, so the money i put into exchanges is break even.

But I never expected that nearly every altcoin is dumpig hard right now. How come? I really don`t get it!?

Are the traders panicing? ...but because of what? I don't see any bad news beside the monero trolling action, but that shouldn't knock out the whole altcoins.

So does anyone know what is happening right now? ...i have a lot of altcoins like, strat, str, eth, xrp, xmr, ardr. lost 2k already just today.


Why is everyone selling?

Not everyone. ETC and SYS held up.
Florin and Sia are rallying back

With nearly all alts havin 500% gains in the last months  - even the obvious scams - then a correction of 25% is really just expected. 
Considering the continuing "hey, I'm noob, what to throw my money at"-threads here, I'm fairly convinced this will bounce back and go back up.
A real hard noob-shake-out will come. This wasn't it yet.

You mean it's going to get worst?

Seeps people took Fluffypony message serious and stopped believing what random people say on twitter.

of course it will get worse, look at the charts. but there may be one or few run ups before the big one, if we are lucky,

Yes. Just think if the current gains are based on fundamentals... was there anything that meant that alt's are 500% more useful? Is Ethereum really a third of the value of Bitcoin? And Ripple right next to it? No - it's absurd. It's pure speculation of people getting greedy (yep, I'm greedy too). Naturally, this will correct. 

Again, I don't think this is today. The runup of Bitcoin will push more users in. Will it reach $3000, then even more media attention will sustain the inflow.
It'll probably take some news to trigger the crash. Some pumped coin will have shabby code and get hacked... or Ethereum is getting split again.
But at some point the inflow can't fix it up anymore. Prices wil stagnate - all newcomers will be locked in... people will try to get their BTC out, so they end up with a little profit... then it will slide... then they have to sell to prevent losses. And then there will be blood in the streets.

I was thinking of buying yesterday. Thankfully i didn't  ;D

We did have a big rally in the alt coins for the past few months and i was expecting a correction for a very long time,it is sad to see you holding most of the alts when you could have profited it a while back,because expect some sort of bear market after every huge rallies.

AND YOU"RE ONLY GOING TO KEEP SEEING IT. };-D

red day=good day to buy
green day=good day to smile

choo choo

You are surprised how everything is red, yet you are the one who panicked and sold.

Only one thing is certain, when everything is green people like you buy, when it's red they sell.

BUY on RED
SELL on GREEN

Try not to sell with loss.

This is the most concise and logical argument/analysis of the crypto's market eventual crash. Once you start factoring those shamcoins with no real world values, applications, and innovation one can start to see just how messy the crash's gonna be

People are taking profits, normal correction before another round of uptrend. BTC just started its climbing up and most of alts will go up like crazy this summer. Some people are in panic but you shouldn't be. Crypto gets a lot of media coverage and attention. New money will flow in easily. Don't panic, make profits!

Nice analysis. I will only single out one coin from this: LTC. Is the only coin getting REAL developments and improvements, yet we haven't seen  a real rally. I see 100 USD as a fair evaluation, considering the coin long history and the new developments.

Hold tight

if you cashed out to buy back it's a good decision otherwise you made a wrong move, everything is RED yes but it's still more up than what was before, if a coin go 10x but then a dump of 1/3 occure, it still in GREEN side, and this is nothing new, it's called price consolidation, the value increased fast and the buyers need to buy more at these new level

I think it's just a correction, the bull market will continue, it's not yet time to exit

As the price of Bitcoin increased, many people started diverting their funds towaeds altcoins to I crewse profits. Alts are bullish as BTC rises anyway and the flow of cash towards their markets only multiplied the price rise and hence the profit of Bitcoin hodlers that could play it smart most were just caught in a bubble though.

what goes up must come down and when the go up part is a pump not a real rise it must come down hard.

this is the current situation with altcoin market. they were all pumped hard, and whales cash out at some point and when they do it always creates a big wave of panic sells which will make the dumps even bigger.

you can always find a bottom and buy for a quick profit when they come back but make sure to sell after the comeback because the dump may continue down.