What's your opinion about today's Altcoin market situation?

[qualitywork]

Till yesterday it felt like we are going through a repeat of 2017 but all of a sudden it's dropping down, what would have caused this dump? Is it related to drop in the value of Bitcoin or else some other reason like whales cashing out ? I feel it was a temporary correction which took place after altcoins went bullish especially XRP and XLM which gained over 100% in last one week.

[mersal]

Completely due to the fall of Bitcoin price because emotions drives the investors to be crazy when they see sudden dump on the bitcoin so they wants to save their value if coins by selling as soon as possible because its like a sign of 2017 cycle is going to repeat so people can buy back when the prices completely dumped.

[AnonBitCoiner]

Till yesterday it felt like we are going through a repeat of 2017 but all of a sudden it's dropping down, what would have caused this dump? Is it related to drop in the value of Bitcoin or else some other reason like whales cashing out ? I feel it was a temporary correction which took place after altcoins went bullish especially XRP and XLM which gained over 100% in last one week.

Altcoin strategy should be different from the bitcoin strategy. Bitcoin will be a suitable one for the margin trading and you can earn more with a less investment.But altcoin should be focused on the long term trading.Mostly you should hold to gain from it. But people will do panic selling most of the time as a damage control.

[drlukacs]

Bearish trend or correction is very unpredictable at the moment, because the crowd keeps fomo about Bitcoin, so there is such a strong sell-off.
Hopefully the curse of the year-end days won't come. Based on Bitcoin chart data for the years 2018 and 2019, the end of the year is often accompanied by sharp drops and even downtrends.
By the way, I'm still pretty optimistic about Bitcoin's future price as inflation is slowly pulling in fiat money faster than expected

[Harriti]

Till yesterday it felt like we are going through a repeat of 2017 but all of a sudden it's dropping down, what would have caused this dump? Is it related to drop in the value of Bitcoin or else some other reason like whales cashing out ? I feel it was a temporary correction which took place after altcoins went bullish especially XRP and XLM which gained over 100% in last one week.

Although the top altcoins have all grown tremendously over the past few days, its value is still dependent on Bitcoin.
This correction has been warned by professional traders for a long time, as the price range of $ 18k and $ 19k had a lot of buyers and was buried in capital at the time. decreased due to crowd selling. In my analysis, Bitcoin is still on the bullish trend, so this is a very good time for us to buy more altcoins and hold for the next 7 months.
* Note: Q2 in Crypto market often has new trends and money is poured into a lot, so we should  take advantage of this opportunity.

[Irdina]

this is a correction, buy it now while there are lots of discounts, I am sure it will come back to the top again..i have started stocking XLM.  and we'll see tomorrow how much profit I get .. this is a moment where we can buy at low prices. what are you waiting for.

[enhu]

It's like a price correction though but there are rumors going on like the CEO of Coinbase tweeting about lawmakers going to clamping down crypto users in US and this is just what I read on Cointelegraph though. When news like this comes out, it's usually seen by users to be a threat, and some so gullible to also sell. But if you just look at it, traders will of course take profit after the price touches 19K above.

[irixo10]

Till yesterday it felt like we are going through a repeat of 2017 but all of a sudden it's dropping down, what would have caused this dump? Is it related to drop in the value of Bitcoin or else some other reason like whales cashing out ? I feel it was a temporary correction which took place after altcoins went bullish especially XRP and XLM which gained over 100% in last one week.

Not only you thought that we are likely having a repeat of 2017, many people did, in fact it seems to be the talk found within many crypto lovers but with this drop in the market, no one can correctly say what's going on. It could be whales cashing out after having a field day with the market, wherein many people were thinking of Bitcoin growing more or it could be correction taking place and getting Bitcoin ready for another trend. On the other hand, it could also be that what kinda happens towards the end of the year is about to happen, that is, dump in the market or it could be even more. Whichever it is, we should be careful with our trades and holdings.

[Mahdirakib]

Cryptocurrency price have increased significantly in last few days. Maybe this is a correction period now, that's why the market having down move. Cause crypto don't show the upper trend for so long. Now there is two possibility, the price may remain at this stage without much up down movement and will show another upward move after few days. Or it will slightly go down more. But might be no panic show.

[BIT-BENDER]

Its always a maybe, Bitcoin, alt-coin price must be an exciting object/matter to speculate on, when bitcoin or alt-coin increases, the speculation are enraged same so if it decrease, the speculations are different some meaningful and some not, but if I may ask must it he speculation, is there no -this is the straight out reason- for the price increase or not. Is crypto-coin above logics in getting actual/straight-out answer to it price.

[didzi]

Till yesterday it felt like we are going through a repeat of 2017 but all of a sudden it's dropping down, what would have caused this dump? Is it related to drop in the value of Bitcoin or else some other reason like whales cashing out ? I feel it was a temporary correction which took place after altcoins went bullish especially XRP and XLM which gained over 100% in last one week.

this market mate, everything can be happend in crypto market
i think the current situations is a profit taking actions from most of traders and investors including the big whales buddy
and thats make the price down, but don't worry, because this is only for a while my friend

[edandrada]

it is an oppurtinity to buy. it a small correction.
in 2 weeks price will go at least 50% higher of today's value.

[cryptonx]

Till yesterday it felt like we are going through a repeat of 2017 but all of a sudden it's dropping down, what would have caused this dump? Is it related to drop in the value of Bitcoin or else some other reason like whales cashing out ? I feel it was a temporary correction which took place after altcoins went bullish especially XRP and XLM which gained over 100% in last one week.

don't worry, this is only a corrections my friend, because a lot of people taking their profits from crypto market
and this situations will over soon, but maybe a big green movements will come back to crypto market next year, i hope i'am wrong

[enhu]

it is an oppurtinity to buy. it a small correction.
in 2 weeks price will go at least 50% higher of today's value.

That's one good side of this dump because while the price is dipping, we can buy some of the coins with discounts. Its an opportunity indeed.

I have a few ETH that I would like to spend for VET but then the value of it also dipped. If I have only sold it for USDT while the price touches $600, it should have been better. I guess when the RSI said it's overbought, it's best to just do what is to be done there than disappointed later when all of a sudden all coin dips.

[krisnajsadrak]

it is an oppurtinity to buy. it a small correction.
in 2 weeks price will go at least 50% higher of today's value.

That's one good side of this dump because while the price is dipping, we can buy some of the coins with discounts. Its an opportunity indeed.

I have a few ETH that I would like to spend for VET but then the value of it also dipped. If I have only sold it for USDT while the price touches $600, it should have been better. I guess when the RSI said it's overbought, it's best to just do what is to be done there than disappointed later when all of a sudden all coin dips.

using RSI indicator to know when the right time to enter and exit the market is good idea, especially in higher timeframe my friend
and i agree with you if this dump is a good opportunity for us to collect more ethereum or other good altcoins in good price

[StephenJH]

Emotional conditions of market participants drive the current market and the altcoins fall into the category of controlled by top cryptocurrencies. The alt season can be possible if the BTC can stay in the range of $16000-$18000 for a long time. Otherwise, the volatile BTC prices will not affect good to the market share of altcoins and the further fall will continue, from my experience. The prices will cool down sooner or later and traders can decide if they did the right trading decision or they get hyped after the market bull run without a single correction.

[tycsols]

Till yesterday it felt like we are going through a repeat of 2017 but all of a sudden it's dropping down, what would have caused this dump? Is it related to drop in the value of Bitcoin or else some other reason like whales cashing out ? I feel it was a temporary correction which took place after altcoins went bullish especially XRP and XLM which gained over 100% in last one week.

Yes bro, I know majority of the traders were expecting more bulls and more intense  moves before a big correction but it just happened now but keeping in mind the way these markets work i think this correction will prove to be healthy for the bulls later.

[kramat]

No need to panic mate, the occurrence of a dump in the market has become a natural thing, this is only a small correction. Try to see now that the market has started to improve again, in fact this is an opportunity for all of us to buy more because after a small correction the market will grow bigger.

[angrybirdy]

Till yesterday it felt like we are going through a repeat of 2017 but all of a sudden it's dropping down, what would have caused this dump? Is it related to drop in the value of Bitcoin or else some other reason like whales cashing out ? I feel it was a temporary correction which took place after altcoins went bullish especially XRP and XLM which gained over 100% in last one week.

You're not the only one who thinks that way. I also feel like the situation we had before in the year 2017 is exactly what is happening in the market right now. This drop may be because the price of bitcoin is started to crash, investors or the whales do actually sell their holdings to make their profit.

[mahilchii]

No need to panic mate, the occurrence of a dump in the market has become a natural thing, this is only a small correction. Try to see now that the market has started to improve again, in fact this is an opportunity for all of us to buy more because after a small correction the market will grow bigger.

Yeah true we should be using this opportunity for buying it low which was not possible at the beginning of this week due to sudden pump but there are too many negative posts within last 24 hours but as you rightly mentioned it's just a small correction and market will continue with bull run. I have already invested in XLM which I really wanted to do 4 days ago but couldn't do as the price was almost doubled but this dump gave me an opportunity to do it now.