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Title: Can someone explain this drop for all the main crypto-currencies? Post by: miffman on September 20, 2013, 12:47:45 PM http://i43.tinypic.com/maje3k.jpg
It's weird because after that the other currencies don't seem to have that specific drop. Title: Re: Can someone explain this drop for all the main crypto-currencies? Post by: Buffer Overflow on September 20, 2013, 12:52:42 PM Isn't Bitcoin the only 'main' currency?
Title: Re: Can someone explain this drop for all the main crypto-currencies? Post by: miffman on September 20, 2013, 02:03:06 PM Isn't Bitcoin the only 'main' currency? I guess. Well the others that sorta have some potential I mean. Title: Re: Can someone explain this drop for all the main crypto-currencies? Post by: Foxpup on September 21, 2013, 02:03:29 AM It's because altcoins are typically traded for bitcoins, not fiat. There was never a drop in value of altcoins, ie, they were still worth the same number of bitcoins. So when the fiat value of bitcoins drops, so does the fiat value of all altcoins. Note that the more volatile an altcoin is, the less noticeable this effect is as it gets lost in the "noise".
Title: Re: Can someone explain this drop for all the main crypto-currencies? Post by: Jumpy on September 25, 2013, 09:49:22 AM Very few ways to trade altcoins for fiat. In general, the market views altcoin values in terms of how many it takes to buy a bitcoin due to the practical reality that most of the transactions are done in this way. It is fairly clear that it wasn't a fundamental change in value but a technical trading dip, which means there was no process of altcoins realizing greater fundamental value as compared to BTC.
Title: Re: Can someone explain this drop for all the main crypto-currencies? Post by: bythesea on September 26, 2013, 10:35:05 AM If those currencies are mainly based on Bitcoin trade they will follow drops in price according to Bitcoin drop.
Title: Re: Can someone explain this drop for all the main crypto-currencies? Post by: Thør on October 02, 2013, 01:56:04 AM If there are "n" exchanges where you can exchange "X-cryptocurrency" for "Y-cryptocurrency," and suddenly there are "n-1" exchanges, (IMHO) I would expect a short term drop in price for all currencies that could be traded on the defunct exchange while the former-users of the defunct exchange migrate to one of the remaining options for buying/selling cryptocurrency.
Right? Title: Re: Can someone explain this drop for all the main crypto-currencies? Post by: fattypig on October 11, 2013, 01:07:27 PM Looks like someone's auto trading program got some bug, auto massive sell off
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