Can Someone Tell me WHAT JUST HAPPENED?

[Enjel]

So I opened CMC for a moment, just like half an hour ago, and EVERYTHING was red. XRP dropped like 6%, and all the other coins were also down a bit, except for LTC (which rose a few percent).

Then, a few minutes later, it was all over, and the prices right now seem to be going back to normal...

I don't really know what happened here, and I think it could be a good learning chance for me.

So my questions:

(1) What does it mean when stuff like this happens for a brief moment?

(2) Why were all coins (pretty much all) on CMC impacted and turned red for a few minutes?

Thanks.

[davis196]

Lots of sell orders that push the prices down.Perhaps the traders are reacting to some negative news related to cryptocurrencies or some groups of traders are joining forces to push the prices down (if this is really possible).
I don`t believe that much in most of the trading volume statistics provided by the crypto exchange platforms.
They used to manipulate this data in order to manipulate the traders.

[chiggz]

Its just a normal day in Crypto trade. Lots of whales do planned sell order in order to manipulate prices. Also there are pump and dumps happening occasionally. Never panic sell when this happens. Your loss is their gain. Go over your FUD and hold it until everything comes back to normal. Also do note that since most of the cons are traded with BTC pairs, it likely Alts go down when BTC crashes hard. If you are a beginner trader then you will get this pattern now and then.

[buwaytress]

Spend enough time online and you'll realise this tends to happen several times throughout the trading day. Like it or not, almost every coin is reliant on Bitcoin's performance. While of late, I've noticed the trend to buck a little, with some alts (notably ETH and LTC at the moment in my opinion) managing to hold their own more and more consistently. But in general, if Bitcoin is up, the majority of alts are too. And the same inverse relationship when it goes down.

That's just the way the market is, a lot of sell orders triggering, a timezone waking up all at once. Or, as suggested, a wee bit of manipulation by all the data fed to CMC It'll be many years I feel before crypto charts resemble those of other markets... where they're not all green or red and in the same ranges.

[audaciousbeing]

So I opened CMC for a moment, just like half an hour ago, and EVERYTHING was red. XRP dropped like 6%, and all the other coins were also down a bit, except for LTC (which rose a few percent).

Then, a few minutes later, it was all over, and the prices right now seem to be going back to normal...

I don't really know what happened here, and I think it could be a good learning chance for me.

So my questions:

(1) What does it mean when stuff like this happens for a brief moment?

(2) Why were all coins (pretty much all) on CMC impacted and turned red for a few minutes?

Thanks.

The earlier you understand that you cannot always have the answers, the better because quite a lot of things will happen even in the crypto world that you just have to accept and find a way to make the best out of it because even if you know the answer, there is nothing you can do about changing the situation at hand.

What happen is just the generally accepted answers which is supply overshadowing demand and obeying the law of basic economics, when that happen, price is surely to crash which sometimes could be uniform across the market or sometime there could be some isolated cases. The secret to those who wins and lose in the crypto world, is knowing the right time to seize the moments because it will surely presents itself.

[harizen]

So I opened CMC for a moment, just like half an hour ago, and EVERYTHING was red. XRP dropped like 6%, and all the other coins were also down a bit, except for LTC (which rose a few percent).

Then, a few minutes later, it was all over, and the prices right now seem to be going back to normal...

I don't really know what happened here, and I think it could be a good learning chance for me.

So my questions:

(1) What does it mean when stuff like this happens for a brief moment?

(2) Why were all coins (pretty much all) on CMC impacted and turned red for a few minutes?

Thanks.

How long are you involved in cryptos now? If you are kinda new then Im not surprised that a dropped of 6% have a big concern to you. You know this number is nothing to be worried about.  You can even see 100% pump or dump in a duration of few minutes.

I will not dig technically on what is the reason for that because that is a normal scene in crypto volume watch.

1) Like I said , it's a normal price movement. Swings, roller coasters etc.

2) It's just a few minute action. Try to monitor your specific coin on minimum hourly movement or if the volume is not that much moving then turned it into 24h.

While involving yourself in crypto continously, you will soon automatically understand what is that all about.

[pereira4]

Whenever you see "everything going red" it typically means that bitcoin is taking a break after a couple days of upside. In this case we've had a rise of $15,431 and a dip to $14,241, nothing out of the norm, bitcoin is doing great, but people are really shaky. The altcoin market is basically comprised of noobs trying to make more BTC by gambling random altcoins. XRP is a pump and dump scam, so dump it when you see good BTC gains.

[millensharon8]

Bitcoin decided to test a new resistance after a recent sideways movement and just within a split of a second, the whole alt market became red. That was exactly what happened. Wait until you see bitcoin starting a bull run and then you will know that is the time for most especially alts that have risen hugely in value to start having corrections. This is normal!

[tdrinker]

So I opened CMC for a moment, just like half an hour ago, and EVERYTHING was red. XRP dropped like 6%, and all the other coins were also down a bit, except for LTC (which rose a few percent).

Then, a few minutes later, it was all over, and the prices right now seem to be going back to normal...

I don't really know what happened here, and I think it could be a good learning chance for me.

So my questions:

(1) What does it mean when stuff like this happens for a brief moment?

(2) Why were all coins (pretty much all) on CMC impacted and turned red for a few minutes?

Thanks.

Honestly I don't know but it sounds like the sort of thing that happens when bitcoin shows signs of starting to pump, any indication of bitcoin price increasing and alts fall. Alternatively it's worth considering it may in fact be something that happened 24h before as price changes are recorded on 24h cycles.

[BitMaxz]

Its normal to see the price of all cruptocurrency are drop down but since its just small amount the price can be still increase back but look the market right now the price is getting increase back according to bitcoinwisdom chart and cryptowat.ch but reverse happen to LTC..
So if you are a trader better trade your holding when you already made a good profit patience is the key in trading if you a short trader you will lose in fees..
I don't see any news that i think it can push down the price of cryptocurrency since there are new comers enter the field more possibility that the price can be increase more..
Like binance they are now not accepting new users because there are lots of new players come and i think there are lots of interested investors wanted to join in cryptocurrency trading..

[omonuyak]

If you are new to how cryptocurrency markets work then it is better you spend some time find out why most of the coins behaving this way.  I think what is really happening was a bit recovering from corrections as the selling order which push the price back ward has started reducing! Most times the selling orders do get reducing across most of the exchangers platforms and this affect coins behavior.

[Taki]

Supply for all coins increased that provoked the fall of the price. I am looking now and do not see that the list would be so red as you are talking. Do not make panic and just wait for a green moment if you are holder

[dothebeats]

Lots of coins on the red and that's pretty typical if bitcoin is surging upwards. If it's trying to break a certain resistance level, all alts would be green and bitcoin would be red as everyone is trying to make more bitcoin while bitcoin is at a low price. There are no known cycles for bitcoin/alt price movements, but I do know for a fact that what's happening right now is just another regular occurrence in the world of cryptos. Stick out more often and you'll see that this is a normal day-to-day occurrence in the trading scene.

[aso118]

So I opened CMC for a moment, just like half an hour ago, and EVERYTHING was red. XRP dropped like 6%, and all the other coins were also down a bit, except for LTC (which rose a few percent).

Then, a few minutes later, it was all over, and the prices right now seem to be going back to normal...

I don't really know what happened here, and I think it could be a good learning chance for me.

So my questions:

(1) What does it mean when stuff like this happens for a brief moment?

(2) Why were all coins (pretty much all) on CMC impacted and turned red for a few minutes?

Thanks.

People don't complain when all coins are rising and CMC resembles a sea of green, so why should all coins being in the red be any different? In equity markets, these kind of trends appear when a whale sells a basket of stocks - effectively driving the broader indices down. I am not sure that there are whales who hold large amounts of different coins and who would be able to crash the entire market.

[TERA2]

When everytrhing rises 1000%, it is inevitable to see these tiny pullbacks of 30% or so. But I expect something more like 80% eventually

[Biscutard]

The more time to spend in cryptos the more you will know that it's just normal to happen like that. It does happen a lot sometimes if you have been in cryptos for a while. Seeing a red with only 6% is just normal, don't you know that some these altcoins are just like dropping sometimes at bigger than that? Keep calm everything will be alright, it's just the market that did it.

[Herbert2020]

this just shows how fragile the altcoin market is.
it is not always a good thing when they manipulate the market and pump the prices to fake higher number, that makes every single one of them unstable. you think only bitcoin has weak hands, wait until you see an altcoin get dumped then you'll understand what a weak hand means
they panic buyers are also in the altcoins too. they buy after the pump is already done and then dump at a loss with the fear that they may lose ALL they have.

[malikusama]

This happens when you are trading in alt/BTC, all it depends on the real king i.e Bitcoin, whenever bitcoin takes a step forward all the alts goes down with the same speed. This shows that alts can never be a good investment for a long time, however for short term gains it is okay. So when you are trading in alts like XRP, do it short term and sell them instantly when bitcoin starts climbing.

[Wipro]

This happens when you are trading in alt/BTC, all it depends on the real king i.e Bitcoin, whenever bitcoin takes a step forward all the alts goes down with the same speed. This shows that alts can never be a good investment for a long time, however for short term gains it is okay. So when you are trading in alts like XRP, do it short term and sell them instantly when bitcoin starts climbing.

All explained by the speculator with the information of sudden price bump coins all the time but many people still refusing to take the bitcoin is the ruler for all the crypto currencies in the market.
I think you are understood that perfectly the altcoin investment. I see many people holding the xrp for longtime. But it will not works well here in market. As time comes utilize and sell it out bros.

[asriloni]

So I opened CMC for a moment, just like half an hour ago, and EVERYTHING was red. XRP dropped like 6%, and all the other coins were also down a bit, except for LTC (which rose a few percent).

Then, a few minutes later, it was all over, and the prices right now seem to be going back to normal...

I don't really know what happened here, and I think it could be a good learning chance for me.

So my questions:

(1) What does it mean when stuff like this happens for a brief moment?

(2) Why were all coins (pretty much all) on CMC impacted and turned red for a few minutes?

Thanks.

A little correction should be a temporary and you can't know when that will be turning again into the another bullish moment for sure.  But it looks all of the altcoin in the coinmarketcap gets impacted due to the hype of altcoins right now. How the middle and small coin are following the major coin's movement.