Alt-coin Massacre continues

[joshy23]

Now on its 3rd week , all we see is red color . Altcoins suffer a lot of bloody loss already and it continue to have a downward trend.

I see this as a signalling effect to the supremacy of bitcoin in the crypto world because at the time there was the crashing of the price of bitcoin, all alt took a nose dive which is explainable because of the price of bitcoin but weeks after when the price of bitcoin is recovering it seems the alt are not just responding. I guess people are being careful without knowing the direction of the price alts generally.

it seems that those who had been trap from the bubble show are trying to recover little of their investment so even selling at their loses they still
continue and waiting for another great timing to bounce back and like what you have said they are trying to be more extra careful with their actions.

Yes. they are probably trap and the only way to exit is to incurred losses on their end. And I hope they all learn their lessons well and not go into investing what they can't afford to lose. Guys that already went out before the bloodbath are so happy they exit early. But for those who are trap, no way to go out but get some losses and shrug their shoulders.

[jacafbiz]

Now on its 3rd week , all we see is red color . Altcoins suffer a lot of bloody loss already and it continue to have a downward trend.

I see this as a signalling effect to the supremacy of bitcoin in the crypto world because at the time there was the crashing of the price of bitcoin, all alt took a nose dive which is explainable because of the price of bitcoin but weeks after when the price of bitcoin is recovering it seems the alt are not just responding. I guess people are being careful without knowing the direction of the price alts generally.

it seems that those who had been trap from the bubble show are trying to recover little of their investment so even selling at their loses they still
continue and waiting for another great timing to bounce back and like what you have said they are trying to be more extra careful with their actions.

Yes. they are probably trap and the only way to exit is to incurred losses on their end. And I hope they all learn their lessons well and not go into investing what they can't afford to lose. Guys that already went out before the bloodbath are so happy they exit early. But for those who are trap, no way to go out but get some losses and shrug their shoulders.

There is no way to know the top or the bottom of any asset, you might be luck sometimes. I have always said it is better to be talking profit along as your portfolio grows. FOMO and Greed is what drove the price high quickly, I know the market still has along way to go because of influx new entrance into the space, maybe sometimes in future $1 trillion valuation but for now correction is needed

[Apollo777]

We definitely needed a correction. Some of these currency valuations were way too high!

[kryptqnick]

I don't think now is the massacre of alts. Yes, most has been in small minus lately but nothing big happened. The coins haven't dropped their prices much. I think now is still the pump period and who knows when we'll see the real death of most of rubbish. Moreover, some coins (doge, gbyte) are even growing now, so I guess it is definitely not the bad time for everyone.
People in this thread have been talking about people losing money for their bad investments and that they learn a lesson from it. I think there's nothing bad in short-term investments, it's just business after all.

[wawaTwice]

Who cares if altcoins are in the red. If you are in for long-term and you've already accepted the fact that all the money you invest can be lost then stop winning when altcoins are in the red omg.
If you are a day-trader well I think you're not winning and make small profits every day .

Also, they are some great news that could prevent the bubble to burst "that much":

- Goldman Sachs: Bitcoin Price Is In Sweet Spot, Eyes $4,000 in 2017
- South Korea to Soon Legalize Bitcoin and Ethereum, Protect Traders From Bubble Burst
- It’s Official: Japan Has Eliminated Tax on Bitcoin, Rise in Trading Expected
- Bitcoin ‘Going To Moon,’ Could Reach $1 Billion: FOX News
- US Government to Host Federal Blockchain Forum
- Two NYC Private Preschools Now Accept Cryptocurrencies for Tuition Fee Payments
- Billionaire Fortress Investor: Cryptocurrencies Will Be Worth $5 Trillion by 2022


I don't like the latest news about the Billionaire Fortress Investor that stayed that Crypto will be worth $5 Trillion by 2022.
For mainly two reasons:

- This douche bag invests in Bitcoin, Etherum, and Litecoin and so his point of view is biased as he will likely profit from the surge of cryptocurrency
- This douche bag also specified that people need to invest in top cryptocurrencies and avoid altcoins because long-term most of the altcoins will worth nothing. Of course, lot's of projects
won't survive but there are still lot's of promising altcoins out there that are worth investing. Also, by saying this shit, this douche bag investor can profit even more from cryptocurrencies
as he only advise people to invest in top crypto coins (and HE only invested in top crypto coins, so ofc if he advertises people to invest in top crypto coins, HE will be the one that earn the more).

Having said that. Of course, bitcoin investments surge exponentially lately and so it seems that the bubble has burst a bit, yet, all these news, plus the fact that, now, media are not against
bitcoin (so much) anymore tends to make me think that we might avoid the bubble from exploding completely.

Also, as everyone saw during the rally, promising altcoins are the coins that allow people to earn more money as it is easier to triple an altcoin market cap than a bitcoin market cap. So, in a nutshell,
stop winning about your money and cryptos that are in red because by investing you've already agreed to lose everything and because most of you are in cryptos for long-term investments. So stop looking
at the price and go hang out!

[SparkyU]

I also can't believe that tokens with huge potential such as BAT are trading below 5k satoshi, but that's the reality now.

Why is that a bad thing, that's great!  Just an opportunity to buy more cheaper.  It will go up eventually.  The further it goes down the more you buy.