Bitcoin Forum

Hey everyone! I don't know why I haven't come here to ask this sooner but does anyone know what has caused this huge dip in the market at the moment? I have investments in DeepOnion and THEKEY, and both have dropped nearly 35%.

I had read something about an exchange having to "dump or hand out" loads of BTC, but wasn't sure if it was related to any of the altcoins?

Thanks.

These dumps aren't specific to your alts but all the alts are down due to bitcoin going down. If you don't know than the recent drops in price have been due to the MT GOX trustee dumping large amounts of bitcoins on exchanges.

Yeah, this is what I had heard about! Have they got much more to dump? So we should expect the prices to go back up when they have finished dumping?

You are right this issue is the major problem in crypto fluctuation at the same time Japan and US regulation are affect the crypto market. So three problems are hit the same time it reflected in the total crypto platform. But it is not a bug issue it recover again so everyone should in this time.

This news has made bitcoin drop from around 11k to the 9k
https://www.bloomberg.com/news/articles/2018-03-08/bitcoin-s-latest-rub-is-overhang-ghost-from-mt-gox-bankruptcy?srnd=cryptocurriences

Another FUD from paypal CEO about the crypto is about the experiement gives another bad impact after a little bump yesterday. That doesn't look good. You can try to read the more FUD news to the crypto on the bloomberg. Bloomberg is really popular with so many FUD article to the crypto.

Bitcoin traders get dump, they were feeling panic and sell their altcoin to dump their bitcoin asap. That's it.

The main reason is  MT GOX  induced sell off of their asset and binance FUD about their hack which was no true- nothing was stolen.

And the rest is just induced panic after these events as always.

When bitcoin is doing bad, alts are doing even worse - this is how it's been before and is happening now. Simply have the guts to hold if you have lost your money and hope prices will fix in future, which they should at least for some coins.

That whole thing could be an inside job though those Bitcoins are not accessible anymore so leave it alone. Nobody really knows why the price is going down.

It's not permantly price drop and we no need to panic, just holding our altcoin and wait for drama end, our future is coming soon, don't heard any fud, trust yourself and your investment

Thanks for the replies everyone. Just kind of annoying to see the whole crytocurrency market be so affected by Bitcoin. Hopefully the prices will come back up soon.

Altcoins dip is actually correlated when bitcoin is also in dip and this is just more of a temporary adjustment period for most of the crypto coins. Currently, bitcoin is on green mark for 2 successive days and because of this, almost majority of the altcoins were now also on the up trend movement. For me, FUD usually may impact on the said dips and this will be on recovery in the coming days which is just starting to happen again.

And when Bitcoin is doing great, alts are doing even worse than worse. There's only a tiny window of opportunity where alts are increasing: altcoin season! I've got a feeling it'll take a while before Bitcoin settles down to allow alts to flourish.

market is starting bump hip that maby we only need a few good coins , not a bazillion
shit coins (scam ico, premined garbage coins ripping everyone off? huh,

Though I hope the prices to come back soon, I think that will be a long time, we have to admit that there are many big bubbles in this market, we should be patient to wait another round hot period.

It has an indirect effect. Dump on bitcoin might even mean a good time to buy it because people can buy bitcoin cheap. Aome might be dumping their alts just to buy bitcoin, and tgat results to alt market to go dip. Just be patient and you must know how to play your money right during market crash.

Most of the time, a drop doesn't need any reason.
Because it is in a bear market, it is perfectly normal to fall, and there will be a significant drop in altcoin when there is a significant drop in bitcoin.

Not every dip holds some interconnected outlying factors, strategists and major players can also be responsible for such unforeseen swings.

Yes this is the general rule for crypto. One day it might chage, but for now, it seems that for better or worse all ALTS follow the lead of BTC. This might change here in next few years as more and more alts start accepting fiat money to purchase

In general, bitcoin is very sensitive that is why it is volatile in nature and what causes much of the dips was due to FUD and negativity in the media news. In my views, I consider it as a fact because it had an effect in the price of the crypto coins where it always happen. It would much be better to set aside negativity and not to feel FUD for majority of the crypto supporters, users and investors to lessen the dips and make the price move upwards that we hope to happen.

Hi also have a huge amount of THEKEY, and I admit I am at loss,
but instead to panic, this is my opportunity to add more, thekey tokens, as i believe in its technology it will bring.
35% is the normal loss in cryptocurrency especially if the altcoin you're holding has a technology in the future, not just pure speculation.

Actually I don't know why you asking this question if you're plan for long term holding, even if currently price dip you also won't sold out your coin, we only want x5 x10 profit return, people panic and market price dip also not my business, just relax and wait for crypto market green day coming

It is quite true that when bitcoin experiences a dip, everything else follows. Probable cause is the regulatory crackdown of virtual currencies by South Korea and China and governments trying their best to regulate bitcoin. The efforts made resulted to negativity on virtual currencies. We could expect continued volatility on bitcoin as well as other cryptocurrency.

You probably do not read the news? Have you read that FBI prohibits twitter from advertising crypto-currencies? I think that now the fall in prices is precisely because of this, so many now just get out of this market. I think that this is a real failure.

Of course it is related. imagine that someone want to dump by converting large amount of bitcoins into altcoins.
and they sell the altcoins for USD or other fiat. this is causing bitcoin price down, and altcoin price is down too.
but i think this is only temporary.

The dip cause by negative publicity like banning of crypto related ads on social media like facebook on google now rumor that twitter will also joined to ban crypto ads. But i hope that all will be settled and the market will be stable..

Indeed the market has fallen very much and many coins give a decent minus, but do not be upset criptospring, it will come closer to summer, then we will consider the pros.

the market pumps too much in the past year and it need a deep correction, maybe this will take two or three years, but i believe there will be a new record after this dip

There can be several factors that make the crypto price falling. i think the current factor is the fud about ads regulations.
but what i don't understand is, why peoples feared about those banned ads rumor ? if the rumor was right, they don't need to be feared.
it just the ads got banned, they don't banned cryptocurrency.

Bitcoin is like the "dollar of the cryptocoins": if it goes down, so every other coin usually will, too.

- SEC cracking down on crypto exchange and icos
- related to above, more regulations around the world
- recent exchange hack + 3rd party tool (coincheck, binance, nano)
- low volume (see article on fake vol by asian exchanges)
- mt gox selling their btc news (although i suspect this has little effect on the market but the negative sentiment contributes to downward spiral)

all these factors contribute to negative sentiment, way beyond what it is. People panic sell, esp. those new to the market that jumped in during dec gold rush. Whales likely manipulate price down to accumulate. Good time to check your investment thesis and do your homework on the fundamental to hold your bags.

It is unfortunate that the market because of its volume is not as stable as possible, any negative news background, any bans that can cause such falls on the cryptocurrency world. Also, whales are speculating the market as they like.

Most of the altcoins are getting bloodbaths whenever the bitcoin started to move wildly regardless if its going up or down most of these shitcoins bleeds.That is how the market works because these alts are being paired with bitcoin when it comes to trading,bitcoin does dictate what will happen to the market and to these shitty alts.

Ethereum is not a coin that is usually called a scam so even the legit coins have received that dumpage. I would just stay out of the arena for now.

Current market situation is very hard for making correct decisions. I thought ETH will never dip to 450 USD. Now we got it. Currently have no idea what will be the lowest prices for crypto.
Now I will try to stay safe. Perhaps I will try to buy some good coins with strong potential.
Every day is a surprise for me :-) in current market.

Social media platforms practicly banned crypto and Bitcoin and all of the alt coins took a huge dive and practicly crashed. Now it's trying to survive and is getting back up. Bitcoin keeps on surviving, media is still negative about it, social platforms shunned it, and now even Google took a piss on it. And yet Bitcoin is still surviving, it seems even 'Supreme' Google can't kill it. But wallstreet has been manipulating the hell out of Bitcoin while alt coins are taking the hits for it. It has becoem very risky to go into crypto nowadays, either you wait patiently for a crash before going in, as going on right now, or you risk in losing half your invested capital in just a few days.

Not the first dip in crypto and certainly won't be the last. The media will always find a reason "why" the market has dipped, but whatever the reason, we can be confident that it will keep coming back bigger and stronger than before. Hodl and enjoy the ride!

Probably on the dot, you may be right. Coupled with a lot of FUDs and regulations imposed in many industrialized countries with big portions of assets affecting the market.
However, things like this are normal in the crypto world, and prices will recover soon. No need to panic guys.

sounds like you will be left behind bagholding some token.

Yeah I really hope so, I've committed to holding now so can only hope for the best....

Big players are coming on board to the cryto world that's why the dip. They can't buy any coin when the price is high so they use every means and power to cause panic in other for the price to come as low as possible

You have got to be kidding me. Everytime there is a dip people panic so damn god much, no wonder we have tons of dump money in crypto. Do you really think making money trading is so easy, just buy and freaking hodl? No, it does not works like this. Please use your head and learn how markets move before you loose all your money!

In fact, taking into account that DeepOnion came to be worth more than $20 in December and that its current price is below $2, its fall has been more than 90%!

For me this speaks of two things:

a) the entire market was heavily manipulated by speculators, and it was expected that this bubble would burst, leading to the current collapse.

b) in the face of this fatal drop, investors are preferring put their money in safe havens, withdrawing their investments in altcoins to buy reliable cryptos such as bitcoin.