People are taking profit from those who entered crypto market earlier this year. These newbies wanted to get rich fast by invest in altcoins for possible high profitability. Unfortunately they were on the wrong side of the market and now it's time to pay up. HODL may survive for some altercoins, but most of altcoins are going down to near zero value soon.
I agree with your opinion. In fact, there are too many coins listed on the exchanges every day. There is a lot of altcoins not worth, and certainly, in the future, this altcoins will be $ 0. I only invest in pennies in the top 10
