Bitcoin Forum

Why is it in the past 24 hrs almost all of the altcoins is going down atleast 10 percent in value even though bitcoin's price is steady at $2.5k. Is it contrary or something is really happening. Any thoughts?

The more traders get panic caused by the strong FUD. Especially for the ethereum platform. I think you must try to read about the latest news of ethereum itself. There is a problem with the ethereum network and that will need to be fixed by vitalik butrin.

just like last time (not so long ago) we are having a dip and all alts will be in red, nothing new and it will happen a lot more, get used to it, this is the perfect time to make money

I remember the last time we are having a dip is just a month ago, on 26th May. The price of ETH dumped to $150 and almost every altcoin went dowm at least 50% percent. I do not know the exact reason and I guess the reason may be from the ETH.

Most of new people that came in june, came in crypto through eth. What happens when eth tanks? ( which happens every month or so) All the noobs panic and jump ship. The bigger crypto gets, the bigger these kind of swings get. I have 0 worries though, that come wednesday everything normalized again. Maybe even sooner.

Greets Hank

I totally agree with you. There are tons of new guys who joined to crypto world to just mining while they don't know anything about mining. most of them just mine and sell. at the same time so many new investor. Since they don't know how much volatility coin world, they panic easily and sell.

Nothing to be afraid of, it's usual turbulence. Everything will go back to normal prices, just don't panic and sell or you'll make it only worth.

it is not just in the past 24 hours, this has been going on for a while now. the bubbles that everyone was warning you about are now popping and the drops are only getting bigger like an avalanche.
this is the first phase where people still have faith in many altcoins so the drops are small like -10% but when a couple of days go by each with another -10% all those people will give up and instead will start panic selling. and that day is the day you should fear the most.

As I have read from some threads, altcoin growth is based from Bitcoin's price. If Bitcoin is going for a big down movement then altcoin will go down too. Some people called it retracement.

Bitcoin has not been steady. It is moving down, albeit slowly.
The alts are more sensitive to the underlying market sentiment. In a downtrend, they tend to fall much more than Bitcoin.

Yup.  Also it doesn't help that most portfolio valuation is done relative to BTC so when a dip starts on BOTH alts and BTC at the same time the drop is compounded.

Retracement is a fancy word for a market correction, which is a short hand for "everything grew too quick and now we're seeing the drop to real value".

This happens in any market and there's no magic way to predict when or how far a correction will go, as an investor only you can decide what's right.

Personally, i'm holding most long term, and this drop isn't anything new or particularly scary, i still anticipate long-term growth.

It is for sure relation of ETH to other.

I wonder it ETH loss is related to this: https://www.coinwarz.com/difficulty-charts/ethereum-difficulty-chart there is high probability that since 2-3 months there may be ASICS, many people may started to realize profits.

It would give a long-term tendency of loss..

What do you think?

Ethereum network is currently have problem and many traders a selling out of panic. Panic selling create opportunity to buy cheap and wise traders always take this opportunity to buy and in future sell high and this circle will ever continue. The amateur buy high and sell low out of panic why the wise buy low and sell high for profit.

Yeah they are going down almost every week and as bitcoin is going down too, the altcoins are following bitcoins price going down. That's just my observation though for the past few weeks.

It can't go up all the time, once in a while it has to go down in order to go up again. I am sure everything will be fine in the end. Let us wait another day. Most of the coins have seen massive losses. I am pretty sure everything is going to be nice and green again.

This is way over due. Time to get rid of scared money in this market. Another 20% drop will make things real sporty.

The bubble is gonna pop!! Get out while you still can! It's the sign don't ignore it.

As a new investor to this space I can see how the network issues would drive out retail money. Half the time I can't even see my balance at coinbase, and from reading other posts the level of service/trust available at the exchanges varies wildly from meh to god-awful which if you are coming from the world of stocks is a real eye opener. I'm holding long so I'm not particularly concerned, but I also don't have a lot invested and I'm more tech savvy (as I'm sure most are who've been in crypto longer than me) than the average retail investor. Nothing inspires selling like not being able to get access to your money. I think that fact that there are some serious growing pains technically on top of the typical lemmings that come in on a peak and wash out on the dips creates the situation we are in now. Personally I'd love to see a crash because I think the underlying concept is here to stay and I'd like to load up.

It's the shakedown to get rid of all weak hands. We all can't be millionaires. Buy the dip.

CRYPTOCURRENCIES ARE THE FUTURE. Everybody should be invested for the long term. This is a new tech and prices will go up somehow. This is just my opinion

Just chill.
it is a healthy consolidation.

FTR, my Porftolio made a +30% these last 2 weeks. Seeing a -10% (status now) or even a -20% is a probably good thing for the future.

 I am only concerned by all these traders with their stop-loss, who did not seem to have learnt the lesson with G-DAX...

Is this he pop that people have been talking about this last few weeks? I see ETH is going down fast and the flippening that some are saying is not happening soon. Some weaker hands have been shaken already and have sold their alt coins very fast. They don't want to be trap just like most of us.

its better than losing much bigger stake in my case i just sell some coins with the current downfall price and try to go much deeper entry so if ever it got filled up i will still hold some of this coin and sell it back again with the higher value in case some rebounds happen and i will still at profit.

Where the information about ETH's problems come from? I didn't hear anything like this on the crypto news.
All alts depended from Bitcoin and if Bitcoin's price gone down a little - the percent of fall among altcoins is much bigger.

CRYPTOCURRENCIES like bitcoin and altcoins its an best way to keep your money secure and good returns.

This is the kind of thing I read everytimes a pump ends. Even if you can be right, you could be wront too so stay careful.


Anyway these ICO weren't healthy and were a sign that someting was going wrong. I'm just interested to see what will happen in the next weeks.

Green is coming, you better buy now before it rise up.

https://image.ibb.co/iPPMA5/altcoins.png


Some people here are ridiculous, having $5 worth of altcoins and panic to sell.

There are people here with millions worth of coins and they ain't selling.

Last month crypto market was $68B, last week it was $110B. now it is $93B.

What do you think will happen next month? the "corrections". and the market will get beyond $150B.

Bitcoin is the king. When their is bloodbath all around, people seek refuge under the Bitcoin umbrella. Hence every other coin except Bitcoin is bleeding currently.

This happen a week ago altcoins dump but I beleive it will rise again. I think theres some panic selling but for sure it will pump. And we can earn profit even for a long term.

I wrote this at the worst moment (I hope it WAS) when my portfolio was at -20%
I did CTFU&W (chill the F up and wait) and now I am at -13%.
There may be another correction coming, but so far it seems to hold.

My portfolio looks like a crazy rollercoaster :-)
https://preview.ibb.co/crEfnk/Screen_Shot_2017_06_26_at_10_55_40_AM.png

well just pick the coin that have big potential to make a bounce back like big names for sure the dev will try to make some updates and sometimes they
will try to place a buy wall to make sure that the project will not go so deep. profits will follow if we know how to look for good entry.

I think everyone should sell.

So I can buy. And retire in a few years

In the same manner that everything went up without any particular reason now everything is going down without a particular reason.

There are reasons.

Reason  1: ICO's exposed Ethereum weakness.
Solution 1: PoS / Casper.

Reason  2: The fraud happen on G-DAX with $0.10 price for ETH
Solution 2: Stupid traders learned their lessons.

Reason  3: Fake news about death of Vitalik the founder of Ethereum.
Solution 3: He took a photo with latest block number to show he's alive.

Who had benefits?
The ones who cashed out
Investors that buy now when price low

Losers?
People that got panic and sold with lose.

In the folowing days you'll see major corrections :)

My only dilemma at this point is when to buy in and if I'm going for BTC, LTC or ETH.

I have the same dilemma as you. I end up buying BTC and ETH. Good luck guys.  :)

Well it is pretty normal since BTC deprecated 10 over %. We will be seeing green next few days

Even i do expect a good recover in the coming weeks,i really think it is a consolidation period before the big push ,expect these sort of market once in a while,so be smart while investing and wage in the risk you are taking before doing anything.

I would have panic as a newbie but now I have come to realize it is very normal in Crypto world. It perfect opportunity to buy really cheap coins and sale when they go up.

Well, i'm one of the newbs that bought into bitcoin almost at ATH, also some other altcoins and now the value of everything dropped by -30% meaning a potential loss of almost 1500$ if i would sell everything right now...And i have the feeling, that the marketcap will go down even further (maybe just above 50B). But: I will hold...and i will buy more when the price is down because i think bitcoin has a future and will rise to new dimensions in a few years from now. Worst scenario: I'll invest 10-20k and lose everything...Well that would be hard, but some people have higher losses when buying new cars and selling them after two years...
Or: Best Scenario: I can quit my Job in 2020  :D

The price of bitcoin has even gone lower that the price you have there and I expect that the price of alt coin might even have to go down further depending on how the demand for such coin is able to hold against bitcoin price coming down. The real reason in actual sense, no one knows we all guess and hope the market will correct itself in due time so as to shame the predicters of the end of bitcoin.

I don't know why some people are trying to make a meal out of these, this correction is bound to happen and any serious investors should know it is time to start buying when the market is red and panic sell.

You can access your money very easily.

Just move it to a wallet where you actually control the private keys.

If you were as tech savvy as you say you are, you'd know that.  Altcoins will get more sensitive and go down with ETH, but it's nothing to do with this.

Yes I understand that of course, my point was that the flood of people that came in will include many who don't understand this and see the crypto exchanges as the same level as stock exchanges. When issues like today and the last several days vis a vis access to buys/sells and funds is interrupted *a lot* then they will decide this space isn't ready for prime time and move their money elsewhere. Just reading the site here it is obvious many people, while they may have a wallet on their local computer, actually use the exchange's wallets to hold their funds.

just hodl on tight, it will recover

Despite the long term bullish trend, right now Bitcoin is not in a situation I would consider steady. Five percent drop is a high value for a multi-billion dollar marketcap. Regarding the altcoins drop, when Bitcoin falls in price many people sell their altcoins to buy Bitcoin.

And boom it's go up as we speak. major green in the past hours. $5Billion added to crypto market since the fall.

Everything will be as it is, hold and be patient ;)

Please read here I have tried to explain all the factors involved.
https://bitcointalk.org/index.php?topic=1987291.0

Cloakcoin with 35% increase in price, while others are falling, this is really amazing, I am into this for years and things like that are still awesome to see.