80% of all alt coins in negative % change at the moment

[Morphling]

before the regulation of China, there is a report that more than 90% of the ico projects are scams, i think it maybe an important reason that China ban all of the ico and may clamp down the exchanges

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[PandoraTV]

Have you ever heard about market cycles? Simply put, prices don't goes always up...

[Red-Apple]

before the regulation of China, there is a report that more than 90% of the ico projects are scams, i think it maybe an important reason that China ban all of the ico and may clamp down the exchanges

exactly this is the reason.
i am not sure about the percentage. the number of really scam ones is a bit lower but all of them without exception are unregulated and that makes it bad as far as the government is concerned.
in my opinion their reaction for banning ICOs and coming down on exchanges hard is only natural and expected.

and these falls are mostly reaction to a big news. the panic is dumb though.

[Sync485]

i think it is just shake out. weak hands are selling. price can't go up always. it is necessery. i think it will continue 1 week after that prices will go up again. i'm trying to buy some cheap coins.

[NRF]

i think it is just shake out. weak hands are selling. price can't go up always. it is necessery. i think it will continue 1 week after that prices will go up again. i'm trying to buy some cheap coins.

China try to block some exchange. That make many China trader panic sell

[makishart]

majority of these coins (well just call it coins even if some of them are tokens) are using ethereum smart contract, therefore their price will be dependent to ethereum movement.
while at the same time ethereum following the trends of bitcoin lately, it affects these coins too and by that creating mass dump in the crypto world. the rest 20% which still stay on its price or even pumping are a whole different coin that are dependent to above too. high chance using their own blockchain.

[HashFace]

I've been trading stocks for 20 years, and you can draw to many parallels with cyrptos, it's amazing.   One of the first similarites I noticed is that like stocks, Cryptos tend to move in unison.   If Bitcoin is up, 80-90% of alts will be up.  If Bitcoin is down, 80-90% of alts will be down ... The only point of diversifying seems to be protection incase one altcoin gets very bad news, like a hack or something.

[sangster]

I think that we do not need to be worried because bitcoin was also dumped. Every coin right now is suffered a huge loss cause of the China and the POBC. They are not good at all. They are trying to shut down all exchange. Even if it is a rumor, it has caused a bad effect to the bitcoin and altcoins overall

[leea-1334]

What you could be the reason alt coins dumping atm besides, China?

If China even has that big impact. Could it be connected with some of the published news yesterday that local exchanges will be taken down in China?

If so, I would expect increase in other exchanges but this is not the case.

Or is this a reflection of the various problems alt coins have in many verticals atm?


Or just because BTC <> USD value falling?

Dollar has been struggling for a long time now and the recovery should not happen this year, so not USD getting stronger. Just plain BTC fears, fueled by Chinese rumours and guess what? People just finally taking quick profits. And whether you like it or not, if Bitcoin goes down, alt are following the leader. Just give this until Monday to rise again. That is only 2 days away!

[Tykhe]

But why some altcoins still are up to 40% positive?
 Are those pump & dump coins? (for example cloak coin or ion coin)

[bit-freedom]

But why some altcoins still are up to 40% positive?
 Are those pump & dump coins? (for example cloak coin or ion coin)

IMO, these are pump and dump coins. For example, Okcash has 60% gain today because of "big" news release and the price is pumped.

[bongiu]

What you could be the reason alt coins dumping atm besides, China?

If China even has that big impact. Could it be connected with some of the published news yesterday that local exchanges will be taken down in China?

If so, I would expect increase in other exchanges but this is not the case.

Or is this a reflection of the various problems alt coins have in many verticals atm?


Or just because BTC <> USD value falling?

China does have that kind of impact, although if you search across altcoins history, you'll see that this is something that happens more often than you'd think. The other reason might be the usual: speculation.

[Sync485]

i think it is just shake out. weak hands are selling. price can't go up always. it is necessery. i think it will continue 1 week after that prices will go up again. i'm trying to buy some cheap coins.

China try to block some exchange. That make many China trader panic sell

i read that news are lie? i don't know but some guys who i trust wrote these news are fake at twitter. i hope it is just a panic sell and will not continue.
and i also read that exchanges won't accept China's decisions. i don't know true or lie..

[VTS]

i think it is just shake out. weak hands are selling. price can't go up always. it is necessery. i think it will continue 1 week after that prices will go up again. i'm trying to buy some cheap coins.

China try to block some exchange. That make many China trader panic sell

i read that news are lie? i don't know but some guys who i trust wrote these news are fake at twitter. i hope it is just a panic sell and will not continue.
and i also read that exchanges won't accept China's decisions. i don't know true or lie..

The news seems real! Many popular news magazines wrote about it.... Would appreciate if some members from China could help to clarify.

[Fanpant]

i think it is just shake out. weak hands are selling. price can't go up always. it is necessery. i think it will continue 1 week after that prices will go up again. i'm trying to buy some cheap coins.

China try to block some exchange. That make many China trader panic sell

i read that news are lie? i don't know but some guys who i trust wrote these news are fake at twitter. i hope it is just a panic sell and will not continue.
and i also read that exchanges won't accept China's decisions. i don't know true or lie..

The news seems real! Many popular news magazines wrote about it.... Would appreciate if some members from China could help to clarify.

The price of altcoin has recovered a lot. The price of Bitcoin has also risen. The Chinese has less effect now.

[teamcryptonator]

i think it is just shake out. weak hands are selling. price can't go up always. it is necessery. i think it will continue 1 week after that prices will go up again. i'm trying to buy some cheap coins.

China try to block some exchange. That make many China trader panic sell

i read that news are lie? i don't know but some guys who i trust wrote these news are fake at twitter. i hope it is just a panic sell and will not continue.
and i also read that exchanges won't accept China's decisions. i don't know true or lie..

The news seems real! Many popular news magazines wrote about it.... Would appreciate if some members from China could help to clarify.

The price of altcoin has recovered a lot. The price of Bitcoin has also risen. The Chinese has less effect now.

Really? I do not see the price of Stellar, Digibyte, Siacoin recover after dumped -300% -> -800% on the market. Almost altcoins are still in bearish trend and have not signal to comeback, the price of Bitcoin has affected all.