Bezobraznike (OP)
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★Bitvest.io★ Play Plinko or Invest!
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February 02, 2018, 11:09:25 AM |
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How it is possible for all of them to go down? I can not find logical answer. If they are have different chains, different communities, what is happening for second that that can affect all the markets and all the coins, what is that strong? If you do not have a clue, please restrain yourself from commenting. I would like to see and read answers from people who might know something more, thanks in advance.
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bitor
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February 02, 2018, 11:16:40 AM |
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In fact, the entire crypt is related from one to another. Cryptoworld is one and reacts to various news about the crypto currency very symmetrically. And soon there will be a New Year in China, and therefore about the crypto-currency fell in all the last years, so, it was expected.
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sparg
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February 02, 2018, 11:18:53 AM |
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This is my theory: The market attracted last year a lot of new people intro crypto investment. You can see this by the sudden growth that happened in the last two quarter of 2017. They where excited by the proffits got from succesfull ICO (and they were a lot) and the big growth of BTC, ETH, LTC. The problem with a market grown by the actions of newbies is that they panic sell in mass. The normal correction that happens every year in Jannuary combined with a well planned FUD done by some groups who whant some discount prices made this collaps. The total market cap is almost half than december 2017. Now this is a domino effect and till all the pannic seller stop we cant do nothing than watch and HODL.
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DanWalker
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February 02, 2018, 11:21:34 AM |
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In fact, the entire crypt is related from one to another. Cryptoworld is one and reacts to various news about the crypto currency very symmetrically. And soon there will be a New Year in China, and therefore about the crypto-currency fell in all the last years, so, it was expected.
I don't think it's related to Chinese New Year somehow. I suppose that the main cause is Tether. A few days ago even Bittrex said that they are going to change USDT to USD.
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Beerwizzard
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February 02, 2018, 11:32:06 AM |
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The general FUD was caused by the problems of Tether and Bitfinex (they both have the same prople behind them). CFTC have sent subpoenas to their CEOs in order to investigate the resent issues with tether. Tether is suspected that they were lying about the reserves they should have to back their coin. Tether claims that everything is fine but they can't uncover the full information because they are still investigating how they were hacked some time ago. They also had some problems with the audit with their company which makes the situation even more unclear. As far as the banks usuallu do not support cryptocurrencies USDT was a popular thing where traders could save theyr assets while the markets are falling down, make some USDT transfers between eschanges (USD transfers are ofc unavailable) and many other things.
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Red-Apple
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February 02, 2018, 11:59:52 AM |
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it has always been like this. sometimes you shouldn't look for "logical" explanation in the market and you definitely should look for it in altcoin market because it is a side market not a the real deal, something like Penny Stocks. and because of that it will never act alone. altcoin market will always be affected by bitcoin: bitcoin up: altcoins down bitcoin down: altcoins down again bitcoin stable and sideways: altcoins pump.
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Freedom Force
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February 02, 2018, 12:06:51 PM |
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How it is possible for all of them to go down? I can not find logical answer. If they are have different chains, different communities, what is happening for second that that can affect all the markets and all the coins, what is that strong? If you do not have a clue, please restrain yourself from commenting. I would like to see and read answers from people who might know something more, thanks in advance.
It's actually a good question. I don't have a definitive answer, but my theory is that the market is controlled by a small group of people, with tons of bots, and they're coordinated in a way that makes most cryptos change in the same direction, at the same time.
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auliahr
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February 02, 2018, 12:07:20 PM Last edit: February 03, 2018, 06:25:54 AM by auliahr |
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okay, so this decrease is caused by tether. but will the market recover and rise as it did last year? I began to pessimist that this would be difficult to achieve as last year.
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Freedom Force
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February 02, 2018, 12:14:33 PM |
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okay, so this decrease is caused by tehter. but will the market recover and rise as it did last year? I began to pessimist that this would be difficult to achieve as last year.
The total marketcap of tether is something like 2 billion dollars. Trading volume in the last 24 hours is more than 30 billion. I don't think tether's volume is enough to make the market go down like this.
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fileo
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Rangers Protocol
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February 02, 2018, 12:16:59 PM |
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prince05
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February 02, 2018, 12:19:09 PM |
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This is to prepare us for a big pump that is coming up. They should dump so people will panic selling their coins at a lower amount and those whales keep buying them until it will be scarce again with the supply. Then whales will start to sell at a high price and gain more profit. These is my speculation though could be true or not but most probably it should be true.
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xindoa
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Staker.network - POS Smart Contract ETH Token
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February 02, 2018, 12:19:54 PM |
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the media is eating btc alive as everything is still connected to btc it takes everything with him. just ride the storm and you will be ok
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paulmusa25
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February 02, 2018, 12:25:11 PM |
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The main reason why some altcoins is going down is somehow bitcoin is the mother of all coins and if bitcoin goes down the market will goes down too. Many panic sellers will sell their altcoins because they know that they will accumulate more bitcoin units and some group of people making some FUD that's why maybe one of the reason why markets is crashing. This is only my opinion regarding on this given topic.
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AIRDROPSQUAD
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February 02, 2018, 12:35:51 PM Last edit: February 02, 2018, 12:48:53 PM by AIRDROPSQUAD |
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I think we entering the down trends. You can compare the BITCOIN price chart since 2015, 2016, 2017, and 2018. The chart have same pattern. See image below: https://imgur.com/a/TQBydThe price drop since November until February. Then will rise again on early March. And will bull run and stable until end October.
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pandanaran
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February 02, 2018, 12:38:21 PM |
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Many argue that because of the Chinese New Year and there is a tradition to give money or can be called angpao, it resulted in some yesterday correction and decreased increase due to panic sell from some users or often said domino effect, that conclusion from some information I got.
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PadenoM
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February 02, 2018, 12:39:30 PM |
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It is the end, sell evrything you can now or just wait for it to pump again, it will come back for sure
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Ostonian
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February 02, 2018, 01:00:33 PM |
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The market of crypto currency is closely related. I think that the drop is due to bad news in the market of crypto currency. In the world, the tendency to regulate the crypto-currency market is gaining momentum in order to counteract illegal financial activity. In the USA since January 1, introduced taxes on the exchange of bitcoins. South Korea tightened the rules of trade on crypto-exchanges, demanding the eradication of anonymity. China intends to ban the mining of bitcoins in the country due to serious concerns about excessive electricity consumption, as well as financial risks. And that's not all news ...
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Igorpap2
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February 02, 2018, 01:39:33 PM |
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In my opinion, there are currently 3 reasons for raising the price of the crypto currency: 1) The rate of the Crypto currency started to decline in mid-January due to the regulation of cryptology in some countries of Asia. 2) Perhaps also influenced by the company Fasebook, which banned the placement of misleading advertisements. (Under the ban hit advertising crypto, ICO and binary options) 3) In addition, the Indian authorities have pondered the total ban on crypto currency in the country, since they consider it an illegal means of payment.
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alyssa85
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February 02, 2018, 01:42:55 PM |
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How it is possible for all of them to go down? I can not find logical answer. If they are have different chains, different communities, what is happening for second that that can affect all the markets and all the coins, what is that strong? If you do not have a clue, please restrain yourself from commenting. I would like to see and read answers from people who might know something more, thanks in advance.
It's down to trading bots. If bots are programmed to sell when the dollar price has dropped by a certain amount, a drop in BTC will drop the dollar price of all the alts, which triggers immediate selling of them.
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Dimedroll
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February 02, 2018, 01:43:12 PM |
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Price volatility is very high and fast. Bitcoin up and down 1000 Usd to 500 Usd easily. This markets no stable and the price is going down.
I don't think it's related to Chinese New Year somehow. I suppose that the main cause is Tether. A few days ago even Bittrex said that they are going to change USDT to USD.
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