Why do you think altcoins are taking a beating now? Major coins like NEO, IOTA, OMG, PAY and many more lost 20-50% in a really short time. What can be the reasons for this?
Normally alts went down when BTC was on a huge upward or downward trend, but went up when BTC stayed stable. However now it seems completely random to me. What are your thoughts?
Peace
At the time of your post ,it did not seem that random since the BTC was close to its all time high.
Also the Bitcoin Cash was getting momentum.
Thus it seems rational to assume that most f the finds were travelling in the direction of these to currencies.
I think most altcoins are going down because of bitcoin is going up. If bitcoin's value is rising, the altcoin's value will go down so it needs more altcoin to trade in one bitcoin. The higher the value of bitcoin the higher the number of altcoin to trade to bitcoin. It means every value of a single altcoin wil go down.
ETH , Ripple is going up quite steadily in past days not DOWN.
And BTC is not that stable because of the switching between 2 bitcoin currencies.
