Skydvr823 (OP)
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December 17, 2013, 02:40:18 AM |
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Hello all,
I'm new to the forums. I've been looking at coinmarketcap.com and saw that everything seems to be tanking over the last 24hrs, not to mention the last week. Does anyone think that it is a result of the holidays and people trying to get some extra money, or is there another reason behind it?
Thanks
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_wayfarer_
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Software Engineer
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December 17, 2013, 02:42:02 AM |
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It's just has to do with the irrational nature of the market and other factors. And the recent weakening of the dollar because of unrelated currency speculators. I doubt the holidays have much to do with it to be honest. But what do I know?
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Try my free BTC price alerts | In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497 - Warren Buffet
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Reece523
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December 17, 2013, 02:42:30 AM |
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Most of that list on CoinMarketCap.com depends on the value of Bitcoin and Litecoin since the other currencies are bought using Bitcoin and Litecoin for the most part. Resultant from that, any large drop in the value of Bitcoin and Litecoin (as we've seen recently on CoinMarketCap.com) will tend to be accompanied by comparably large drops (and usually some drops a fair bit larger yet still) in alternate cryptocurrencies.
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Sindelar1938
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December 17, 2013, 03:04:02 AM |
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Yes btc has dropped across exchanges
Unwinding at loss of speculative long positions I think
Likely long term impact positive to my mind
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twisted636
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December 17, 2013, 03:05:52 AM |
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looks like a good time to invest... unless it keeps dropping
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Sindelar1938
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December 17, 2013, 03:09:15 AM |
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It is I think a good time to accumulate again
Will be buying some today I think
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Stout_Nick
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December 17, 2013, 03:18:40 AM |
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its a cycle will fix itself
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zagerfish
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December 17, 2013, 03:57:01 AM |
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if it drops more it's good for new people wanting to buy.
_____________________________
Get 420 online at zeltasgarden.com
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AltCoin555
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December 17, 2013, 06:04:15 AM |
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It's because the market cap of all altcoins are tied directly to the price of bitcoin. When WDC or DGC start to become available for sale, for direct USD or whatever other currency, it will split up the dependence other altcoins have on bitcoin. Just wait and see, things will change soon.
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Learn.
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cerleo
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December 17, 2013, 06:34:32 AM |
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Yes,the bitcoin price dropped and the other coins followed the trend.Will see what will happen and if there will be more of this.
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I_AM_AT_WORK_NOW_
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December 17, 2013, 06:40:06 AM |
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Bitcoin dropped due to Chinas increasing regulatory pressure/banning, and a few independent decisions by US banks to stop bitcoin related transactions.
Also, the market was overvalued and overpriced based on chinese hype. We'll be seeing a levelling off for a while (probably the next month or two).
I wouldn't be surprised if $300 was on the cards.
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mladen00
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K-ing®
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December 17, 2013, 07:02:11 AM |
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Well red is normal
green-red-green-red- its normal in BTC investments.
Every other crypto depends on o price of BTC.
We dont have a powerfool crypto No.2; BTC is like a icebreaker
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IOTA
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pand70
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December 17, 2013, 07:02:42 AM |
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It's because of bad news keep coming from china and today especially because of an unconfirmed rumor that china banned deposits from banks and payment processors to exchanges. Holidays doesn't help though  |
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