Recent market dump and pump

[raymonddaf]

Can someone explain why if I look at any coins chart the 24hr graph looks almost identical.

Meaning that all coins across the entire market during the recent dump are being dumped at roughly the same % and again now with price and cap rising again same % going back in.

Is this the case?  Money is removed from every coin at same % into fiat then put back in same % from fiat?

[findingthemoon]

Can someone explain why if I look at any coins chart the 24hr graph looks almost identical.

Meaning that all coins across the entire market during the recent dump are being dumped at roughly the same % and again now with price and cap rising again same % going back in.

Is this the case?  Money is removed from every coin at same % into fiat then put back in same % from fiat?

Most people look at the altcoin market as a relatively single entity so the coins tend to move together though often at different rates. There are some reasons for it, for example a large part of the market is represented by ERC20 tokens which work on the ethereum blockchain so when ethereum goes down the rest do too. There is also the fact that all projects keep the majority of their holdings in either ethereum or bitcoin so they follow the general trends of those coins as it affects their funding.

[raymonddaf]

Ok take mobile go for instance based on ethereum.

Say every single token holder during recent dump held their coins and zero sold when eth was dropping what would happen market cap and price should remain the same if no one bought or sold anything?  Or would the price still drop cos eth dropped but market cap would stay the same?

The way I'm looking at it for any coin for the market cap to drop the money's got to be getting taking out and converted to fiat

[satoshforever]

Currently many investors in the field aren't sophisticated and don't really know the difference between the various coins. Once you don't have deep value convictions you just buy and sell actoss the board.

[findingthemoon]

Ok take mobile go for instance based on ethereum.

Say every single token holder during recent dump held their coins and zero sold when eth was dropping what would happen market cap and price should remain the same if no one bought or sold anything?  Or would the price still drop cos eth dropped but market cap would stay the same?

The way I'm looking at it for any coin for the market cap to drop the money's got to be getting taking out and converted to fiat

Everything is priced in btc so for the market to drop either btc needs to fall or people need to sell for btc yes. But generally people will follow what is happening to the currencies that people invested in the project because in your example mobile go will have less development funds if the price of eth drops.

[Darwin84]

Can someone explain why if I look at any coins chart the 24hr graph looks almost identical.

Meaning that all coins across the entire market during the recent dump are being dumped at roughly the same % and again now with price and cap rising again same % going back in.

Is this the case?  Money is removed from every coin at same % into fiat then put back in same % from fiat?

This is probably not the answer you expect but all trading is a scam, not just in crypto but the regular markets too. Crypto is moving because large funds are trading it. These coins were great when they were
traded by people who had a use for it but after gaining popularity and becoming regulated the big hedge funds and whale traders took over. Whatever you see now is just trading and has no relevance to actual market conditions. Ethereum launches some new shit product and the value goes up 50x in a couple of months. That should tell you there isn't anything real behind it.  Making sense of all the coins is hard because like the other guy said there are holdings in the same coin but also its all traded by the same people. After you rake in a big trade it doesn't look so bad to buy other shit coins and prop up the market, but if you noticed only the popular traded coins chosen as winners are following the same paths. Same thing in the real market, the winners are always riding together.

[ardentvolcanoes]

Currently many investors in the field aren't sophisticated and don't really know the difference between the various coins. Once you don't have deep value convictions you just buy and sell actoss the board.

well right those who knows how market inside the trade will not do such dump thing they will keep on buying those alt that they've supporting ensuring that they will get more profits/gains afterwards the correction will stop the hype will follow that's how crypto investment works just need to learn and understand.

[clickerz]

I do not know either whats happening and you are keen on your observation. IMHO when btc drops, others alts are either up since people are moving their assets to alts. But sometimes, its directly proportional that they follow bitcoin also.Possible that investors are converting to fiat, and when the price is lower, there is another trend of buyers or support .

[stomachgrowls]

I do not know either whats happening and you are keen on your observation. IMHO when btc drops, others alts are either up since people are moving their assets to alts. But sometimes, its directly proportional that they follow bitcoin also.Possible that investors are converting to fiat, and when the price is lower, there is another trend of buyers or support .

No matter which prices would go they do appear on random,sometimes they are identical sometimes its different going on opposite ways and thats the market works. We can conclude or assume that they do have the same output and input of funds on all coins in the market. You are just too serious on market movements and seeing them all identical.

[qiwoman2]

We all know that the Crypto trading markets are all manipulated by whales and pump and dump groups..If you don't belong to the two categories I just mentioned you just have to try and hope that you can cream a bit of profit or minimize your losses, otherwise you don't have much hope in hell to succeed.

[Kazkar]

All altcoins are traded in pairs with bitkoynom. If the bitcoat price falls ... most of the altokamen will tend to decrease.

[jmigdlc99]

All altcoins are traded in pairs with bitkoynom. If the bitcoat price falls ... most of the altokamen will tend to decrease.

Are you drunk? What language are you speaking?

Based on current trends, altcoin price is directly correlated with bitcoin price.

[agustina2]

Can someone explain why if I look at any coins chart the 24hr graph looks almost identical.

Meaning that all coins across the entire market during the recent dump are being dumped at roughly the same % and again now with price and cap rising again same % going back in.

Is this the case?  Money is removed from every coin at same % into fiat then put back in same % from fiat?

Coincidence or not we must know that scenario like that really happen. In our trading group, we called it RED DAYS. When you saw the chart, it will give you goosebump because for me it's a rare case. No way the volumes are the same on all trades but still they look like all identical.

Rather than to think of any agendas over there, we must take this opportunity to purchase cheap coins because one thing for sure, price increase will happened again to make it GREEN DAYS and we don't want to get left behind. 

[jekjekman]

Because a lot of whales is investing jusr not in one coin if you may ask me they are investing in almost all of the coin that is why most of the altcoins has a simillarities with the down of percentage. And with this event that is happened many stop loss of traders has been triggered to sell their coins, for me it is a chain reactions. But as you can see as of now the market is going back to track so don't you worry too much with this market surge.

[raymonddaf]

Not worried about it trying to get a better understanding of the market.

I transferred cash into buy more ether as I know its going back up issue is didnt get it till late last night would have been better if i got in the afternoon when price was really low.

[BitcoinHodler]

it is not all the same percentages, it is nearly similar percentages (numbers close to each other) that is totally different. and it is not true about all altcoin, only some of them. many didn't move, many got dumped hard like -50% and many smaller dips.

also most coins you saw are on top and have similar resistance when it comes to getting dumped so they will have similar -% most of the times. and the volumes are the same. which shows people diversify in them the same way. for example if you have 9BTC you put 3BTC in 3 different coins and cash them all out at the same time.

[raymonddaf]

also most coins you saw are on top and have similar resistance when it comes to getting dumped so they will have similar -% most of the times. and the volumes are the same. which shows people diversify in them the same way. for example if you have 9BTC you put 3BTC in 3 different coins and cash them all out at the same time.
[/quote]

Agreed thats the way it looked to me, i imagine its a limit set on an exchange so once it drops below a certain value or % value in a day or whatever period the trade gets activated.