Bitcoin's drop to an 11-day low of $7,438 is hogging the limelight, as usual, but other cryptocurrencies are struggling, too.
Today, ether (ETH), Ripple's XRP and bitcoin cash (BCH) all dropped to fresh lows for the year so far. Thursday's market developments highlight the continued crunch in the crypto markets, which has solidified in the months since many crypto-assets soared to all-time highs.
Indeed, during the first week of January, the overall market capitalization of the cryptocurrency market exceeded $800 billion - as of today, that figure has dropped to roughly $275 billion, according to data from CoinMarketCap.
![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
Dude, if the value of btc/altcoins is dropping it's the best time to buy
![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
If people see that the market is dropping, people will either sell (with a loss) or hold the coins. Sometimes it attracts investors to buy at the lowest price.
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It's normal to see that it's falling down because cryptocurrency is so volatile. Just have patience dude and wait until August 1. It's just the first quarter of the month.