WHY DID ETHEREUM DROP ALMOST 10% TODAY?

[adroitful_one]

Can anyone tell me why all coins have almost the same price trends even though they have very different algos.

BTC is the initiator it seems. When it rise, every other crypto coin rises. Very predictable.

So if BTC becomes $500k as predicted by some, can I say EOS or Eth and all other coin will increase in value exponentially too?

Or am I are lead to believe the fluctuation is independent. The price graph trends says otherwise.

Go to sites like Coingecko and see the graph trends in one page. Looks more or less similar.

That is correct. Bitcoin is the gold standard of which all of the other coins are traded. When money is pulled out of the market in fear, it leaves less money to be traded into alt coins. Hence why the price drops when Bitcoin price drops and the price increases when Bitcoins price increases. It's all based around the market cap.

[dzelenyanskiy]

The press writes that the current drop in prices on the market is connected with the hacking of the South Korean exchange Coinrail, during which altcoins were stolen for the amount of about $ 40 million. At the same time, the exchange is on the 98th place by rating, is it able to arrange the weather on the market?

[disconnectme]

I think by now people should have understand the strong impart Bitcoin has over the market, it is funny that BTC will drop in value by 1% and Altcoin would lose 2%, I still think people still trust BItcoin more than Altcoin but huge reward is just in Altcoin space, 5X, 10X and even more than 20X in some ICO

[Geoff999]

There could be one of many reasons, i haven't checked the Mt Gox legal sell of account recently,

The prior drops in total price were caused by them selling 10,000+ Bitcoin at once across exchanges from memory.

if you like the tech it shouldn't be too much of an issue, if your here as an investor you can either cut your losses and take what you still have, or wait for the markets to recover, but they may well dip further.

[okala]

This market (cryptocurrencies)  is been influenced by many factors and we should expect up and down of the market.  One thing that I have find out is that bitcoin is going to be having the greatest impact on others cryptocurrencies and if it is falling other coins will also be falling.

[georgereyes]

The typical FUD and dumb people selling into the lows lol