Bitcoin Forum

As per coinmarketcap website, we have 970 crypto currencies available at this point of time. If we sort the list by clicking on Change (24h) column, I can see that price of only 13 coins were increased in last 24 hours. Rest all coins are facing the depreciation.

Even bitcoin price is standing at 2359 USD at this point. Are we moving towards a Global Crypto Currency Depression? What's causing this massive depreciation?

970 currencies is way too many considering 20 or less of them have any real value. I dont just mean financial value I mean the value of the unique approaches to the technology each of the various cryptos take. Almost a thousand currencies, 99% of those are rip offs, scamcoins, or otherwise valueless cryptos.

I don't see how can you ask if we're in a "crypto depression" when the exact opposite has been happening for months. Bitcoin has risen in price quite a lot recently and even a bunch of altcoins (especially some that are very well known, or are at least the most used altcoins) had quite a reasonable increase, price and volume-wise...

Most probably yes, we will observe another global crypto currency depression soon. But this won't last forever and permanent. The future of crytp currencies is still very promisin and bright, trust me.

That is true. There are so many crypto currencies at this point. But that doesn't mean each of those currencies doesn't have a chance to rise. Maybe there are top crypto currencies that is really soaring higher but those currencies have also experienced a depreciation. This wont take long. Crypto cyrrencies have so much to offer for us.

I would better say about Global Crypto Currency Selection, but not Depression. There are, indeed, too many in the market.

Depressions. No worries. Bitcoin will hit 300 dollars before you hit the dust!

PS: I'm talking US Dollars.

Go for gold if you want fiat money ?

(My one armed friend)
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Last time i meet him i ended up fucking my ex-girlfriend at a bus stop.

the altcoins has never had any significance, and only people who were pumping them kept quoting the total market cap and silly things such as bitcoin's dominance. and the reason for their dump isthis.

as for bitcoin, this is a temporary hiccup because SegWit will soon be activated on August 1st because it has a high support and then we will see a big rise with this period as its accumulating cheap coins period. and then we will have problem over the hard fork that comes a long time after that date.

Alts have never really mattered to me they never will, they are alts and they are bound to go down, as far as Bitcoins is concerned, it's a small fall, like I would have worried if it fell to say 1500$ but it hasn't, and like they say every fall is a buying opportunity, so acculumate and once this August 1st drama is all but over, we shall move on from this for good. Till then some corrections are bound to happen so that's okay, just keep buying at every fall.

for starters bitcoin price can not always go up, it needs to come down too and then stop at some level and stabilize there. we had that at $2500.
and for now it seems like the "split panic" is dominating the market and causing the drop for the time being. and this is not the first time we get this type of panic after a big rise. looking at the history of bitcoin it is filled with moments like this.

If you've been in the cryptocurrency world for a long time chances are you already know that these crashes are normal. As august 1 is approaching fear is going to continue to make the prices drop. Also, I think altcoins are heavily affected due to the huge number of ICOs being opened and also because you can't buy some altcoins with USD, only in exchange for bitcoin.

The market cap of all cryptocurrencies was around $116.5 billion in mid-June and today less than $78 billion today so yeah it could be said that cryptocurrencies are going through a temporary depression. Ethereum took the worst hit and it is expected, market is being flooded with ICO sell orders. Bitcoin and altcoin prices are correlated to some extent. Compared to altcoins, bitcoin is still more stable, there would be some uncertainty in the market until August 1.

I dont mind even there are thousands of crypto coins in the market since i do only select on those who do have potential its not actually depression since its a common thing that do happen on these kind of coins considering the volatility. If we are all seeing on reds then then thats the effect of the upcoming event for sure but expectedly this kind of decreasing prices would recover up after that.We should really not panic on this situation in fact we should see this as an opportunity to buy more cheap coins.

While I agree that the coming depression is more an "Altcoin depression" than a "Crypto currency depression", I think the reason for the extreme spike of the altcoins was actually the uncertainty about Segwit. That gave some altcoins the opportunity to sell themselves as the "next Bitcoin without scalability issues", and then also we had the Ethereum ICO bubble - pulling most other alts with them due to the speculation wave, even totally insignificant clonecoins like BitConnect (WTF is that doing in the top10? It's a cloned Peercoin, nothing more!).


I agree somewhat, I give it a 60% probability that Segwit gets activated until August without a chain split and then a rally to "da moon" (or new ATHs) begins. But there is also some probability that the Segwit2x agreement will fail. I think most "decentralization-oriented" Bitcoiners will then support the BIP148 chain and even if "Bitmaincoin" first gets a high hashrate, I think the Segwit/148 chain will win. But in this case I expect turbulences that can lead down to $1350 or even lower - if it then recovers, we can rise again to the present highs.

Altcoins almost always follow the price of Bitcoin. As a matter of fact, the only one which did not during this last parabolic rise has been Litecoin. For some reason Litecoin actually went down while Bitcoin was rising, and then when Bitcoin started falling Litecoin climbed from $30 to $45 in a few days.

Hi this is John from san Jose. I have been mining for only 1 month with genesis. I have been trading currency pairs since 2007. I noticed last year they were offering btc/usd and btc/jpy  on my brokers site. So far I have not seen any other crypto/fiat pair. Also I heard recently that if the market cap goes over 50 bln then the central banks will be able to make some enormous purchases, bitcoin,with no one making more coins,Has no where to go but up. For these reasons I am getting into Bitcoin, thBTCey are just so far ahead. Good Luck to you all, JC

I don't understand why the "analysts" are just concentrating on the extremely short duration. Take Ethereum as an example. It has risen from $2 per coin to almost $400 per coin (before falling back to around $190 per coin as of now), in less than two years. How can we call this as a depression or a recession? It is just a market correction.

Bitcoin and Altcoin markets are mostly deregulated and there will be up trends and down trends. This is normal and how all markets work, not just digital currency markets. We are trending in Bear Mode currently because of the Bitcoin scaling uncertainty and most Bitcoiners, although they say they do not care about altcoins, mostly TRADE and suck the blood dry out of Altcoins in order to generate more bitcoin profits. It is a bit like a man saying he hates Ladies of the Night, yet he still frequents the Brothels to have fun there with the ladies. This is the love and hate relationship most traders have for altcoins. Only those who are really passionate about the technology and understand that having these altcoins is very HEALTHY for Bitcoin because more and more innovation comes and also competition technologically, that it is Altcoins that have helped the price of Bitcoin to grow. Even we are going through a small blip at present, I believe it is not as doom and gloom as some want to predict. We are just at the start of this blockchain technology and what it can do for us.

ATM the majority of the markets on POLO are now in the green. Hope it's a reversal and not dead cats bouncing.

It's called a correction, we had to much irrational exuberance and the market is just adjusting itself to a new market normal.
Timeline wise I expect the real market cap to be significantly higher than when we started the rally cycle but not near the peak we saw for Bitcoin around 3000 and other alts for a while moving forward.

Depression was the year of 2014 and 2015.

Remember that price was $200 not long ago and most coins didn't even exist.

i can't see how this is any worse than winter 2016 or late 2014 early 2015, which were actually far worse than this dumping, all the cryptoworld is unstable, especially altcoin, what go up must go down at some point

but there will be another pump after bitcoin solve it's issue, after all all the alt are after bitcoin, ETH is no exception, even with the big marketcap

Definitely yes.
I think they are imminent and keep sending us a signal as turbulent prices and sudden price crush and so on, :/

I really don't understand how people are really evaluating market . I he is a trader at least small business man he could able to understand the fluctuation common if it is going low you can able to hold that crypto untill it raise .

To sum it up people are putting their popcorn on hold and moving around to get the best seat of what will occur in the month of August the calendar ahead has a lot of little forks and sidepaths that could occur depending on what happens.
https://fs.bitcoinmagazine.com/img/images/segwit-timeline.width-800.jpg
https://bitcoinmagazine.com/articles/countdown-segwit-these-are-dates-keep-eye/

The point about the sheer volume of alt coins is very relevant. Has actual total $ and other fiat going into cryptos dropped, or has all of the new tokens been taking away from BTC, Eth and other major cryptos?

It is not the end yet for crypto currencies  everywhere, the months of June and July has not been favorable at all and its due with grim forecasts by these so called experts in cryptocurrency which is hindering people from investing in the currency for fear of losing their money.

During May many cryptocurrency increased 10-50 times in their value, and anyone with economic background would tell you that this is unstable. To put it simple, if something grew too quick, it will probably also fall quickly. If you compare current prices with pre-May prices, they are still way above them. Now, here some advises for worried newbies: avoid buying at the top; don't be greedy while expecting that the price will rise even more, instead close your positions if you see that the market is slowing down; never trade with sums larger than you can afford to lose.

This isn't something new. It has happened in the past and it will keep happening in the future except maybe something different is done to the code. So calling this a depressing state is not the right way to state it. I'd rather call this a happy hour to buy more btc for the future.

There are abandoned coins in that list. Only a few are actually active and are being developed so I wouldn't call this event a depression yet. I suppose call it that when trading volume for all drops to about 50 percent and market shifts to cashing out fiat rather than shifting to other cryptos . That hasn't happened yet and it's just that it's natural to see highs and lows in trading. When we see lows, it doesn't necessarily mean a a longstanding slump in all of the active crypto assets. The values projected are in terms of bitcoin and in usd mostly, and so, when the value of bitcoin dips, there is a corresponding dip in the value of alts that have little or no change in their price for the past 24 hours. Some alts manage to breakout from their former price and so they don't reflect a dip in price even if bitcoin value drops.

The crypto asset/blockchain revolution is just starting. It's something still considered as novel, and more and more groups and nations are beginning to do research and learn more about it, and they're trying to find applications for it. Am looking forward to the progression of cryptos. Hope you are too  ;)

Depression only those who do not see prospects. On the contrary I am full of expectations for improvement. Depression is when the price of the transaction equals the sum of the translation. Bitcoin is just starting to modernize and begin to regain the lost positions in altcoins.

So because prices are dropping we are suddenly in a depression??? What should we call it when prices appreciate like it did some couple of months back? It is the normal for coins to fluctuate. No need to wet your bed.

I dont care too much watching those alt coins especially the new one massively going down. People are tryinf to make moves again because they are maybe afraid on what is going to happen next month which is pretty normal to play safe IMO

People are taking profits to prepare for the next spike in the price. While they sell their bitcoins, the price goes down {over supply} We know the

1st of Aug 2017 will be a huge move for Bitcoin { We will see real scaling that are geared for mass adoption for the first time } If this goes off

without a hitch, people will definitely start using it in more applications and services for micro transactions and this will push up the demand and

the price as Bitcoin goes mainstream.  ;)

There may be a crypto currency crisis. But it will not be able to come out fast or prolonged for long periods of time, because the future of crypto will grow even further, people will believe in it.

Cryptocurrency market already reach the maximum possible investment for now and that is the reason why most of the altcoin are now stagnant. The funds of ICO are just passing and passing through different ICO. So that coins left behind are useless because they are abandoned by their supporter.

At this point all I am hoping for is a soft fork. In my opinion, this depression is the calm before the storm, the storm being the Segwit activation which very well can pump BTC to $5000 and also dump it to $500.

When most of all other coins value is based on trading pairs of BTC/ETH/LTC is it any wonder 99% of them go down in price when BTC/ETH/LTC go down? Of course they will!!

Now, there are some coins that are the exception to the rule of course, but I tink that is mostly random chance that 9 coins didn't go down, prbably because nobody is really holding those coins or not many people sold tem that day for it to matter.

maybe only in bitcoin and that only for a short time period because of the fear about the August 1 and how things will turn out to be like. but globally, things are normal in my opinion altcoins always fall and then they get pumped in a couple of months and then get dumped afterwards. that has been their whole purpose all these years. and eventually they die and get replaced by another altcoin, fresh for new pumps and dumps.

For a reversal, you will have to be patient. These bounces are totally normal in a bear market, and even in the past days we have already seen many of them ;) Bear markets often are a bit shorter than bull markets, but they are much longer than the "frenzy phase" (May/June), also called "Elliott Wave 5".

https://upload.wikimedia.org/wikipedia/commons/thumb/f/f0/Elliott_wave.svg/500px-Elliott_wave.svg.png

I think in most altcoins, we are still in Wave A. Wave B would be the only "major" bounce, but it won't probably occur in less than some months.

I expect that of the current Top 20 coins only Bitcoin will be able to top its 2017 high this year. The rest would have to wait until 2018 or even 2019, or never (BitConnect and other clonecoins will die nearly instantly).

Even at the top of the bubble I was reluctant to enter the alt world. I only bought a few ETH. Lost some money in a matter of hours, got out of there.

Holding only BTC, I'm quite happy about my choice to say the least !

True! Even I bought some ETH one months back when the price was standing at 300 USD with the hope that the price will increase. It got increase to 350 USD but I kept the ETH thinking of long term. So I still have those ETH but if I sell it now, I will have to face a huge loss.

On the other hand I have been accumulating bitcoin since a long time now. I started when the price was at 450 USD. Even after the current situation, I am  sitting on to a huge profit. Bitcoin is the best investment asset right now in the crypto world.

BTC is possibly the best investment in the world not only in the cryptocurrencies. Where else you can see such an enormous growth and Volatility...

I like ETH because it has a big potential and larger volatility than BTC thus its very attractive as a investment short term or in right time- long term. Will definitely invest in it some time.

I think the current market situation is based on ico
Lots of ico projects, unlimited circle money
For example： EOS，status，the required funds，I was shocked :'(
（The market is likely to have reached a tipping point）

Indeed, what kind of depression can there be, if even ten days before the first August there was a fairly decent appreciation of both bitcoin and the main alternative crypto currency? Moreover, the latest news with scaling is pretty optimistic.

While there is a lot of optimism right now any regulation could change it any day. But lets say the chances are very very low.

There is no definitive system before August, the system could turn 100% after the process occurs and many markets have been warned. The price has started to fall, and I think it will affect until early next month. We need not be nervous, all we have to do is prepare everything that may happen.