[POLL & Discussion] Recent Decline in the Alt Coin Market

[r3wt]

Day by day.
Hour by hour.
Minute by minute.

Your altcoin portfolio is losing its value.

It's lurking in the shadows like a 30 foot elephant and no one wants to address. Seemingly, it would appear that the growth in february and mark was a fluke, and the altcoin market appears to be in a rapid decline once more, despite bitcoin relative stability around 620. So it begs the questions:


Is crypto dying?

Is the AltCoin Market dying?

It looks as if now, more than ever Older alts are continuing to fall while the turnover rate of pump and dumps is steadily increasing. These days, coins pump and dump within as little as a week before going into a gradual, predictable, and steady decline. Correct me if i'm wrong, but it sure looks like the Altcoin Market is dying. I've talked with many others who are pulling their assets out into BTC to wait out the panic that will surely ensue as the decline creates a snowball effect of panic dumps.

Thoughts?

[Spoetnik]

i voted.. don't know

what i'm thinking is more and more guys last few months have been selling their GPU's and cashing out and leaving etc.
so that begs the question i think.. what are we seeing a decline from guys leaving or is the market activity because of less new guys coming ?
not sure..

[CryptoLTD]

What is algo? How many Block Reward? Is china scam coin?

[Relnarien]

Aside from a few overhyped coins like Litecoin and Dogecoin, the altcoin market was never really driven by outside investors. Most of the trading that occurs in the altcoin scene are between sharks playing their pump games and hopeful miners trying not to end up as bagholders. Very little outside honest cash comes in to support the majority of altcoins, if any.

I would say that the decline in the price of altcoins is primarily due to people finally getting it in their head that get-rich-quick schemes rarely work. Far too many scamcoins and useless clones were created during the first 6 months of 2014, and many have learned the hard way to ignore them. Fools are still born, but I would reckon that their birth rate is now lower than it previously was. Basically, people are realizing that Bitcoin will continue to grow while false pumps end up just being an exercise in futility. Personally, I see this as a good thing.

[Spoetnik]

what he said.. lol