Bitcoin Forum

What you could be the reason alt coins dumping atm besides, China?

If China even has that big impact. Could it be connected with some of the published news yesterday that local exchanges will be taken down in China?

If so, I would expect increase in other exchanges but this is not the case.

Or is this a reflection of the various problems alt coins have in many verticals atm?


Or just because BTC <> USD value falling?

This selling is mostly all based upon the China news. But many times weekends are red due to profit
taking also. Hopefully this will be over soon just like past selloffs.

The profit taking is for sure a factor when weekend starts, usually slowly starting during the day... today I doubt its the profit take out.

To me it looks like the minus is bigger than on the day the China news got released, that´s why I´m wondering, tho.

indirectly, yes.
there was a lot of FUD in the past 18 hours about China banning bitcoin so a panic sell started. and whenever bitcoin price goes down, altcoins get dumped hard unless they are already being pumped harder. without exception.

China has absolutely zero effect.
it is the FUD that affects the market. if China is wiped from the face of the earth tomorrow, i promise you that next week the FUD comes because of another country. possibly Russia. if Russia was wiped from the face of the earth it would be Korea, then another....

but so far China exists and everyone falls for the FUD every time. so it is easy.

Which this fud cycle continues again and again. Its not surprising which those fuds are usually the cause of such price decrease. China might give some effects but its not the thing to be worried of. People do always talk about it and it cant be avoided because we do have our own views or maybe just trolling.  8)

Yes, it's the latest over-reaction to the news from China. It has nothing to do with problems with specific alt coins.
When the whole market moves like this, the cause can be something that affects all of crypto, or something that affects just bitcoin.. so bitcoin drops and alts just follow.

It`s normal:

https://preview.ibb.co/j1KxqF/altcoin_price_history_by_year_250k.png

Just like before, china steps out and the prices soar but then china steps back in and the price sky rockets. Something we have seen before over and over again.

for these weeks it is indeed the chinese regulatory factor that most affect the price of altcoin and bitcoin.

Yea, more of because china. Non-yellow people selling without translating the news yellow people just buying more. Other than crypto veteran selling to buy back at lower price, plebs selling at whale's buy back position.

I can't believe how easy it is to shake off the market. Release some news about china, russia or US and price drops.

I think that people who invest in altcoins are much more involved into crypto currencies than many of those who invest only in bitcoin.
Bitcoin investors are ordinary people. They do not look at the price every day, and they do not read the crypto news that often as well.
So FUD and other news don't affect them that much because they are not aware of the news.
The altcoin owners are more informed, that means they react faster.
I think that is the main reason why volatility in the altcoin area has become much higher than in the bitcoin field.
The recent news (although it was most likely fake) was bad, so we have a price decrease.

It's all because of bubble of crypto and I think market is going to fall this year

This drop is based off unreliable news sources and only that is causing this much of havoc. The chaos would be even more if countries start banning ICOs and cryptocurrencies, especially the communist countries which are playing a vital role in promoting coins.

Go with Ark for a win ;D Green!

Reading the comments here will give you insights with different perspectives. This will provide you also some ideas how to handle your altcoins/bitcoin.

The unreliable sources has provided bad sounds to a lot of the traders, it brings the panic moment for everyone just to dump their coin in a minutes, But the chart will be back or another FUD will come to give another bearish

I think so. But the dump has slowed. The price is recovering now.

it is a dumping epidemic which always starts with bitcoin :)
the fear that China creates is always fake but effective. it causes ripples like this in the market that drops every price. 10% bitcoin drop is always >20% drop of altcoins.


it is actually fluctuating a lot. it is not slowed down if you look at the charts it goes up and down.
most probably it will continue to be like this until the real news comes out.

ETH price and bitcoin price down, majority coin follow treand and down too
majority coin this now develop use etherum token, if ETH price down , ussually follow down price too

before the regulation of China, there is a report that more than 90% of the ico projects are scams, i think it maybe an important reason that China ban all of the ico and may clamp down the exchanges

Have you ever heard about market cycles? Simply put, prices don't goes always up...

exactly this is the reason.
i am not sure about the percentage. the number of really scam ones is a bit lower but all of them without exception are unregulated and that makes it bad as far as the government is concerned.
in my opinion their reaction for banning ICOs and coming down on exchanges hard is only natural and expected.

and these falls are mostly reaction to a big news. the panic is dumb though.

i think it is just shake out. weak hands are selling. price can't go up always. it is necessery. i think it will continue 1 week after that prices will go up again. i'm trying to buy some cheap coins.

China try to block some exchange. That make many China trader panic sell

majority of these coins (well just call it coins even if some of them are tokens) are using ethereum smart contract, therefore their price will be dependent to ethereum movement.
while at the same time ethereum following the trends of bitcoin lately, it affects these coins too and by that creating mass dump in the crypto world. the rest 20% which still stay on its price or even pumping are a whole different coin that are dependent to above too. high chance using their own blockchain.

I've been trading stocks for 20 years, and you can draw to many parallels with cyrptos, it's amazing.   One of the first similarites I noticed is that like stocks, Cryptos tend to move in unison.   If Bitcoin is up, 80-90% of alts will be up.  If Bitcoin is down, 80-90% of alts will be down ... The only point of diversifying seems to be protection incase one altcoin gets very bad news, like a hack or something.

I think that we do not need to be worried because bitcoin was also dumped. Every coin right now is suffered a huge loss cause of the China and the POBC. They are not good at all. They are trying to shut down all exchange. Even if it is a rumor, it has caused a bad effect to the bitcoin and altcoins overall

Dollar has been struggling for a long time now and the recovery should not happen this year, so not USD getting stronger. Just plain BTC fears, fueled by Chinese rumours and guess what? People just finally taking quick profits. And whether you like it or not, if Bitcoin goes down, alt are following the leader. Just give this until Monday to rise again. That is only 2 days away!

But why some altcoins still are up to 40% positive?
 Are those pump & dump coins? (for example cloak coin or ion coin)

IMO, these are pump and dump coins. For example, Okcash has 60% gain today because of "big" news release and the price is pumped.

China does have that kind of impact, although if you search across altcoins history, you'll see that this is something that happens more often than you'd think. The other reason might be the usual: speculation.

i read that news are lie? i don't know but some guys who i trust wrote these news are fake at twitter. i hope it is just a panic sell and will not continue.
and i also read that exchanges won't accept China's decisions. i don't know true or lie..

The news seems real! Many popular news magazines wrote about it.... Would appreciate if some members from China could help to clarify.

The price of altcoin has recovered a lot. The price of Bitcoin has also risen. The Chinese has less effect now.

Really? I do not see the price of Stellar, Digibyte, Siacoin recover after dumped -300% -> -800% on the market. Almost altcoins are still in bearish trend and have not signal to comeback, the price of Bitcoin has affected all.