why altcoins are crashing again ?

[gmmt]

why altcoins are crashing again
?

[Alpinat]

why altcoins are crashing again
?

Because many of the traders are selling their altcoins just to buy bitcoins because as if you notice the price of the bitcoin right now i rapidly increasing, you can check it on some exchangers that is the main reason why altcoins are crashing.

[Emperor of Man]

Obviously, because daddy bitcoin went mad again! 

[Fredomago]

because traders are moving so quick to convert their coins and will surely convert it to fiat normal practice and just hold if you been trapped
since fluctuations will make a bounce back fro those quality coins which also dropping right now.

[LodisMcguire]

Look at the bitcoin growing price,it has no sign to stop or decrease,so people just dump all the altcoin and sell their bitcoin into fiat
It's the right time to buy some altcoin that you prefer,before the bitcoin bubble burst or go with the flow and convert it to fiat

[Antivoid]

obviously, the direct reason is that the btc pump again, besides, altcoin pump a lot in the past time, it need adjustment.

[olushakes]

why altcoins are crashing again
?

Because many of the traders are selling their altcoins just to buy bitcoins because as if you notice the price of the bitcoin right now i rapidly increasing, you can check it on some exchangers that is the main reason why altcoins are crashing.

This is exactly the only reason I can seem to give at this time because it just seems the reaction of the market participants cannot be predicted and also a testimony to the fact that the basic why any increase will happen to any coin whether bitcoin or not is the faith that people have in it irrespective of the current scenario and that is what is going on. You don't need any major reason neither do you need a unique explanation. Just that the faith has shifted somewhere else.

[jakelyson]

Altcoin hodlers dumping for bitcoin. No one can resist bitcoin now, it is already 4200$ a piece. Altcoins crashing just means the price of bitcoin will go even higher. Nice profit for bitcoin hodlers. But also a perfect time to get some cheap altcoin if you have bitcoin you don't want to convert to cash.

[alyssa85]

because traders are moving so quick to convert their coins and will surely convert it to fiat normal practice and just hold if you been trapped
since fluctuations will make a bounce back fro those quality coins which also dropping right now.

This is the right answer. When bitcoin goes mad, people can't resist changing alts back into bitcoin to cash out. You have to remember that the majority of the people in alts are only there because they think it's a method of making bitcoin.

[mmhaimhai]

I think its due to continues and rapid pump of bitcoin price. I just read from cointelegraph a while ago concluding that altcoin would decrease 20% as soon as bitcoin price reached 5000$.

[Xxmodded]

So what do you think, what coins should we buy so that the future can be big? Maybe you all can share

[Thetaj]

This is good for the market though. Its going to hopefully destroy some of the altcoins that were weak and leave less altcoins on the market.

Darwinism is great for altcoins.

[LoyceBot]

Obviously, because daddy bitcoin went mad again! 

It nicely shows people don't want altcoins, people only use altcoins to gain more value in Bitcoins.
Only 21 million Bitcoins can ever exist, but altcoins at it's peak were worth about 25 million Bitcoins already. With bigger blocks, SegWit and possibly more cool stuff like LN in the near (?) future, Bitcoin can hopefully be used again for small transactions.
Without more transactions Bitcoin can't handle more users. More users increase the value.

[webtricks]

This is good for the market though. Its going to hopefully destroy some of the altcoins that were weak and leave less altcoins on the market.
Darwinism is great for altcoins.

I guess people are all up for Bitcoin currently so they have placed altcoins on backfoot. But this doesn't mean end of altcoins.
Bitcoin is currently under boom period due to successful overcome from split but this doesn't mean it will sail the same in future. Bitcoin may come under depression again and people may switch over to alts once again.

PS: Bitcoin's dominance in crypto market in just above 50% which is less than what it had in March. So altcoins are not yet dead.

[Rotengle]

They are crashing again, and will continue to do it, because of Bitcoin rising incredibly fast. People sell their altcoins to have bitcoins to then sell them for fiat before buying back bitcoins when it will drop.

[williamuk]

So what do you think, what coins should we buy so that the future can be big? Maybe you all can share

NEO, OMG and PAY are examples. By holding half of my coin hold in these between Aug 1st and today I doubled the total number of btc I had. I'm not promoting them btw, just saying what these did for me.

[examplens]

Altcoin not crashing, they still at the same place. If you look at dollar price. Bitcoin going up, and because of that, It seems that other currencies are dropped.
I have 0.4btc less than one week ago, although I have more bucks.

[xplorer79]

Altcoins are not crashing. They are crashing versus bitcoin, because bitcoin is raising very fast. But they are almost stable versus USD (except maybe ETH who seems growing)

[mummybtc]

Altcoins are not crashing. They are crashing versus bitcoin, because bitcoin is raising very fast. But they are almost stable versus USD (except maybe ETH who seems growing)

You are a joker, do you want BTC or FIAT, when I invested in ICO or buy tokens on exchanges I do with BTC and I expect my returns in BTC, my porfolio has dropped more than 6BTC because of this rally but I still belive there will be another Altcoins rally before the end of the year

[bamboylee]

It is a normal market reaction. If the coin is paired with bitcoin which is pumping right now, the altcoin as its pair will suffer. People will swap their altcoins to bitcoins, thus altcoins crashing. It will recover when bitcoin price settles down.