Most altcoin prices are dropping, why?

[Emperor of Man]

Hi. Amateur altcoin fan here.  

As you can see in this picture most altcoin prices are less than they were 1 hour ago and 1 day ago and it means they have been dropping recently. Any ideas why it's happening and when will the market get bullish again? Does this kind of bearish alt market happen frequently?

[stiffbud]

Provably because most altcoins are a bunch of pump and dump scams.

[Emperor of Man]

Provably because most altcoins are a bunch of pump and dump scams.

"Most of them (not one of them)" were bullish a few days ago and most of them are bearish today. There must be a better reason...

[Minecache]

Shorters taking their ill gotten gains from the market ready for the next leg up. It's normal market behaviour and nothing to concern you if you are playing the long game.

[Nxtblg]

Hi. Amateur altcoin fan here.  

As you can see in this picture most altcoin prices are less than they were 1 hour ago and 1 day ago and it means they have been dropping recently.

The market giveth and the market taketh away. That's the way it's been for ages. From this vantage point, the altcoin markets are just an ultra-volatile speeded-up version of any speculative market.

[BitMaxz]

Well its just a nature of altcoin that there's a dump and pump.. Most of them are scam and Maybe some traders are bored to hold some altcoin and they are planning to convert back to bitcoin because is nearly halving..

[TPTB_need_war]

Shorters taking their ill gotten gains from the market

Shorters provide liquidity during a crash, because they must buy to cover and profit. Shorters' gains are thus not ill gotten.

[tyz]

All these altcoins has risen in the shadow of Ethereum. It is a common pattern. When the main coin (formerly only Bitcoin, now also Ethereum) rises then all other altcoins rise, too.  When the main coin drops (Ethereum) then all other drop, too.

[alyssa85]

People take profits from time to time. It's normal (and sensible) behavior. Markets zig-zag - if you see one going straight up relentlessly it's usually a bubble in it's upward stage.

[Emperor of Man]

All these altcoins has risen in the shadow of Ethereum. It is a common pattern. When the main coin (formerly only Bitcoin, now also Ethereum) rises then all other altcoins rise, too.  When the main coin drops (Ethereum) then all other drop, too.

Interesting idea, but if that's the case shouldn't all the coin charts (e.g. 7-day charts) look like together? As an example take a look at ETH and FCT charts. They don't look like together at all, do they? 

[Minecache]

People take profits from time to time. It's normal (and sensible) behavior. Markets zig-zag - if you see one going straight up relentlessly it's usually a bubble in it's upward stage.

Indeed. This is why it's good to see ETH correct and then slowly rise onwards. It's a healthy market and Ethereum is a fantastic new tech.

[partysaurus]

Provably because most altcoins are a bunch of pump and dump scams.

+1 at this , cant even remember how many alt coins iv seen come and go :/

[The Sceptical Chymist]

Provably because most altcoins are a bunch of pump and dump scams.

This, plus can anyone really explain why any market rises or falls?  I know financial pundits' lips never stop working but the true reason(s) for market fluctuations are never really clear.

[Monerobuyer0]

Because you're looking at an hourly change, and that hour stuff was down.  In such an incredibly short term time frame fundamentals have nothing to do with it, and the answer to your question of why things went down is that there were more sellers than buyers that hour.

Go look at longer term.  Altcoins are in a massive bull market right now, lead by ETH.  Most of them have been going up the past several months.

[nickenburg]

Some days the coins go up and sometimes they go down, I have noticed there are periods that every coin goes down and prices are going very low.
Like with Mintcoin It recently dropped to 5 satoshi which I tought was Impossible already.

No it is back up at 10+ satoshi but I have learned anything can happen, but don't worry after a downfall comes a climb and most of the times a big one.
Unless the coin is bad then it deserves to go down!!

[Spoetnik]

Hi. Amateur altcoin fan here.  

As you can see in this picture most altcoin prices are less than they were 1 hour ago and 1 day ago and it means they have been dropping recently. Any ideas why it's happening and when will the market get bullish again? Does this kind of bearish alt market happen frequently?

[imgg]https://i.imgsafe.org/52b8eb9.png[/img]

It's the 15th

See my Monthly Bitcoin price boost / dumping topic

https://bitcointalk.org/index.php?topic=710859.0

I see it as the majority prepping for the Rise and dump.. 2 week periods that repeat forever.
The bailing on Altcoins to be in possession of BTC for the rise of it..
Then the Buy back later when the momentum swings in the other direction.

I also seen this on Cryptsy in the old days.
Patterns would show when China woke up for example.

And a LOT of users admitted they sold when they went to sleep then bought back when they got up.

Lots of patterns out there if you look.

[funsponge]

Bitbay is easily a hugely undervalued altcoin! Has the only true decentralised marketplace. Has David Zimbeck as the lead Dev (creator of Halo & Nighttrader) and it getting pegged to the dollar to have a stabilised price to avoid huge swings.

It had a dodgy start with the ICO scam but that wasn't their fault & Bob surplus's gang dumped and ran (which is why it's undervalued as people are put off by this) but now after a year that's all gone and the coin has recovered.

It will be a top 20 coin before the end of 2016 for sure

[shanem]

Many of the coins have been pumped to a high level so naturally the price will drop when people take their profit. If you compare the price one month or two months ago, you can clearly see that most of the coins are green.

[Spoetnik]

Many of the coins have been pumped to a high level so naturally the price will drop when people take their profit. If you compare the price one month or two months ago, you can clearly see that most of the coins are green.

bullshit..
how would most coins keep going up when you said "people were taking profit" ?

do you understand how coins increase in value ?

do you know that the user base in crypto has been shrinking over time ?

picture this.. over time more & more users leave dumping more & more.
somehow to you guys this means that were at all time highs and people are flocking here in massive hoards
and all coins are shooting up in value. WRONG !

I know this because i was here when that DID happen in Winter 2013.

delusional..  

Oh and shane before i looked i knew damn well what i would find LOL
Your first comment.. from February 25, 2014 (Also registration date)

I only have some dogecoin

Sorry sweety but you know fuck all son.

[robelneo]

Well its just a nature of altcoin that there's a dump and pump.. Most of them are scam and Maybe some traders are bored to hold some altcoin and they are planning to convert back to bitcoin because is nearly halving..

That's true and this is not going to be the first time that this is going to happen,altcoins are just pump and dump and they want to make fast earnings as much as they,because the truth is there is indeed a lot of money from alt coins