Bitcoin Forum

Why altcoin price down during this week? What are the reason? ??? ??? ???

The same thing with bitcoin, law of supply and demand. After those people holding their respective alt coins are good with the profit so they started to sell that made the price low.

There is no reason for this dump, I think the traders are trying to cash out their profit, and just waiting for another moment to get in again. You know that a lot of the red candle in every altcoin(included bitcoin too) It looks just a usual thing in crypto. If you already pumped and it will be significantly dumped as fast as possible. Don't worry about that. If you can buy them at the right price and you will be able to gain a lot of profit in the future.
This is just the matter of time until all of the cryptos get pump again.

Just taking profits and shaking weak hands so the prices fall down. The money flows back into crypto in a few days.

Due to Ethereum's crazy congestion.

It's just people taking profit. Just hold now cause it will go back up plus it's the weekend typically the prices drop on the weekends.

This is a just typical movement for altcoins. Not only for altcoins also as you can see same things happening for bitcoin too. Just normal ups and downs. Don't panic and be patience. Soon they must get back.

This is a very common and will always be repeated, alt coin is only depends on trading to survive because the usage of alt coin still very little, so the price is really only based in the pump and dump from some group, so it's​a common thing to see all the price falling down suddenly, the investors is trying to build momentum, the price will go up again soon

The crash by ethereum is due to fake news that the founder died.

https://steemit.com/ethereum/@gaman/the-reason-for-the-massive-sell-off-in-ethereum

I mean he kinda looks like he might die if he doesn't eat a sandwich soon.    ;D

Well i think the altcoins price down because of bitcoins price is down trend too
so the people who hold the altcoins sell them to bitcoins and exchange bitcoins to fiat money,
they are saving their funds on fiat currency because fiat currency is the most stable than digital currencies.

which altcoin were you talking?

i see the LTC is rising endlessly

because they mostly follow BTC, that is falling too

No one knows but we can just simple tell that there are trader who do sell their particular coin which causes for a coin to dump its price or been decreased its just a simple supply and demand thing after all.There might be some concrete reasons but i dont have much time on knowing them the important thing is that you do know how to exit and to enter again.

The main reason of the down in the price is not a single factor .
Here I have three different different reasons that why the price of the altcoins goes down in.the week .
1) The ico attracted the people more , so few of the Bitcoiner sold the altcoin and invested in the ico , results into down price .
2) Increase in the price of the Bitcoin , so to complete the demand of the Bitcoin they sold the altcoins .
3) The big movement of the Bitcoin legalisation is going on in the whole world , currently many of the countries the new new news are coming and saying that Bitcoin will legalise soon , this made the increase in the demand of btc and many of the people bought Bitcoin .
So to go behind the Bitcoin and increase in demand made the down of the investment in the cryptocurremcy market mainly for the altcoins .

So why did it not recover when it was discovered that the story was bull?

All I know is when bitcoin increasing value, all altcoins will be affecting because when altcoins price were moving raise the bitcoin moving down due to bitcoin was the basis of altcoins price.

I see, that's why ETH price dropped to 0.11 from 0.14 btc because this fake news. Just who the fuck spread that fake news.

Because there are more people who want selling their ETH than the buyer?

More than 60% altcoin price down.

isn't the first, not gonna be the last, chill

The simple answer to that is understanding the basic reason why the price of bitcoin crashing because all cryptocurrencies are linked one way or the other and no matter the way we try to separate them, boom or depression happen to all of them at the same time depending on how dependent the individual crypto is to bitcoin.

the answer is the same as when altcoin prices were rising. it is what happens during a pumping season (https://bitcointalk.org/index.php?topic=1935558.0).
the altcoins get pumped all around the market and everyone joins in then after all of them entered a big bubble the smart money exits and the rest of the market starts dwindling until it reaches the bottom and real low value of each altcoin shows itself.

I also see this way as the reason of dumping of all cryptos. I notice that all altcoins pumps price tremendously and anytime this dump will happened once early investors exits. I'm glad that I convert all my money to fiat before the dump and now I already buy back in to btc then ready to buy dump altcoin​s. Yummy

The thing that I dont understand is when lots of people selling altcoins (all in red) then bitcoin should be pumped, because people sell their altcoin for bitcoin. But that just dont happen, on which part am I wrong?

i thought this week altcoin price so lower cause.. maybe many people want to withdrawal its profits. but why almost all alt coin dumped.. i also dont understand.. CMIIW ???

I think our world was experience an economic crisis that's why crytocurrencies and altcoins were affected. Or maybe bitcoin prices in the market was increased more that's why altcoins were be affected.

the part where people decide to take profit and change it to fiat to pay the bills, money is flowing out slowly

There is no reason for this dump but some coins are pumping like litecoin and ripple is stable.ethereum going down because in past 2 weeks it increased about 200$ now finding stable position it will stay aroun 300 to 320 now onwards.

Ethereum prices have gone down by almost 40%, and IMO this is not a simple correction. There are two possibilities. Either the promoters such as Vitalik Buterin and Joseph Lubin are dumping their coins or converting them to BTC, or the demand is down as the SegWit2X support has crossed the 80% hashrate in the Blockchain.

There seems to have been a flash crash for doge and other coins last night - probably someone selling a large amount at once, crashing through the buy orders and triggering margin covering (if people were long, they would have forcibly sold, making the crash worse).

The herd mentality often results in stupdity. Probably some big investors cash out, people see a bunch of coins going down, so they all sell as well out of fear. The market is controlled mainly by fear. There is no real logical answer, in crypto markets nothing is really too logical. Perhaps people are preparing for segwit of bitcoin, the uncertainty causes a lot of people to get out of the markets all together. Personally I don't think it's smart to sell at a loss, or just cause your coin goes down, why is this a good time to sell? It's buy low sell high, not buy low, sell when it goes down. The herd mentality is not ruled my inteligence, but emotion, fear, and since almost none of these coins have real world value it's all speculation, trying to get more bitcoin, is just a game. The game goes up and down.

is now a Best time to buy some altcoin?

There are many reasons.
1. Many newcomers came into Bitcoin and Altcoins to make a fast buck.
2. Bitcoin scaling problem woes.
3. Ethereum mass dump to 0.10 cents on GDAX.
4. Ethereum transaction bottlenecks
5. Profit takers
6. Irrational market - when one dumps, they all dump.  :'(
7. Many idiots and so called money gurus saying Bitcoin is going to crash and that we should all sell BTC and Altcoins and buy gold.

Oh i see know. Thanks for Your information.
Is there any issue about bitcoin hardfork?

bip 148, ethereum congestion, goldman sachs price ceiling on bitcoin, profit taking, ransomware. All gotta be digested.

This reply covers the bases pretty well.  I think the upcoming fork has lots of strong, big balance btc holders a little spooked.  Which seems to be having a mixed and somewhat unpredictable affects on alt coins.  Things will smooth out in August.