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

[Iyeman]

Whales definitely cashing out their money from the bitcoin. It's clearly stated that in some news if there were some whales who have been sending big chunk of bitcoin to the market a few days ago.
After the whales sending their money to the market and the crash was happening. i guess the flash dump by the whales have been making the market feel panic.
That's why the instant drop happened with altcoin too.

[1714314612]

1714314612

[Darktongue]

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.

To understand this dump, we must know about the price correction of Bitcoin. Bitcoin price was stuck in the 12k, so before another pump Bitcoin must be stuck somewhere maybe 18k. You must be ready to see the dump price after a good pump like last month. The whole market was down, only one reason was Bitcoin correction time. We shouldn't forget that the last highest pump was 19k.

[Teraboy]

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.

It looks like some people have used this correction as their chance to get cheap coins. The people who have bought it yesterday have already got decent profit.
The first wave of pump is still happening and the second wave will come soon. The big history of crypto will be repeating again.
People will be missing the opportunity to buy more.

[robattfield]

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.

I have seen many people start to panic in this market, i think this is just the process of adjusting the price of the whole market after increasing prices during the past time. Our main trend will still be the same, the bulls are still in progress, i think the real market boom will be around May-June, wait for it and never fomo the crowd to sell or buy any coin.

[FrozenBit]

This may be a price adjustment for altcoin, many forecasts have been made that it may repeat the previous time of the market, this time i am really helpless because i have no money to buy altcoin, maybe what's going on is frightening the crowd, but if you've ever met this you will understand that this is just a price adjustment.

[southerngentuk]

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.

In the past time we have seen altcoins have gone up a lot, there are many projects that have gone up a lot during that time as XRP has risen more than 100% during that time, and now will be the period of correction again. I think the big pumps are still ahead, so there is no need to be alarmed by market downturns.

[FairUser]

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.

I see what happened is really not surprising, many people predict that there is a correction to the market, you also need to understand that the market has risen continuously after the DEFI trend and a lot of news good in time. The rebound is underway i think growth is next next.

[n0ne]

Just because the market is showing signs of growth we can't conclude it is bullish. The market can move in unpredicted direction which is why cryptocurrencies are stated as high risk investment/assets. There is no big price move with altcoins during the beginning days of the recent bullish market making i

[ethereumhunter]

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.

I think it is because the bitcoin price is down, making the altcoin market follow down. Although not all altcoin is down, we still see some altcoin still exist and have a green candle at the market. It is only a temporary correction because after this week, the crypto market will be back to increase, and the price will have a chance to break another high price. XRP and XLM have a good time a few days ago because the price can increase higher, and maybe those coins will have more chances to rise higher.

[mamesso]

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.

Because cryptocurrency prices are still very volatile, This is one of the reasons cryptocurrency prices are difficult to predict. With limited liquidity in the cryptocurrency market, price fluctuations occur very often. Just look a few days ago, the price of cryptocurrency has increased tremendously, so that makes some people assume the beautiful story of 2017 have repeated itself. But you don't worry about the current condition, the correction is only temporary, because the altcoin season has just started.

[bttmember]

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.

Even if you see 2017 bulls even during that we saw big dips on the way up so this time it is the same and do expect bullish trend to continue so dips and corrections do not really matter for long run.

[bitjoin]

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.

The fall in altcoin prices because bitcoin prices are falling, you can see how the chart movement in the market, Altcoin prices always follow bitcoin price movements, if bitcoin price goes up, then the altcoin price also goes up, and vice versa. Be assured, after the correction occurs, the altcoin price will improve again, this is the perfect time to build your portfolio, prepare your goods before the ship sails.

[GrayFullbuster]

Just because the market is showing signs of growth we can't conclude it is bullish. The market can move in unpredicted direction which is why cryptocurrencies are stated as high risk investment/assets. There is no big price move with altcoins during the beginning days of the recent bullish market making i

The current dropping that we will now enter in bull market, actually it is just retracing and for me what's happening is still healthy. For me what's happening can be a reason why it is not always good to enter in cryptocurrencies, for sure that the people who bought at the recent peak are now incurring losses. Buying at dips maybe a good strategy as long as we have a proper planning where we are managing our risks very well. I want to see that the price will react and start increasing again.

[Lore06]

Honestly, I didn't expect the price of bitcoin to fall this deep, is it still reasonable if it's just a price correction? because previously I thought bitcoin would not drop below $ 18k, But now it looks like it's going to go deeper.
Altcoins are also of course affected by the decline in bitcoin prices.

[qualitywork]

Honestly, I didn't expect the price of bitcoin to fall this deep, is it still reasonable if it's just a price correction? because previously I thought bitcoin would not drop below $ 18k, But now it looks like it's going to go deeper.
Altcoins are also of course affected by the decline in bitcoin prices.

Yes the bitcoin's value has direct effect on the value of altcoins and that's probably the reason for slump in the value of altcoins as well and I feel Bitcoin will not go below $15,000 as it looks like a border of resistance and if it was really a correction then within weeks he value of Bitcoin should start increasing which will be a good news for both Bitcoin as well as altcoin holdlers since the growth of Bitcoin is directly proportional to pump in the value of altcoins.

[bocyaj]

Honestly, I didn't expect the price of bitcoin to fall this deep, is it still reasonable if it's just a price correction? because previously I thought bitcoin would not drop below $ 18k, But now it looks like it's going to go deeper.
Altcoins are also of course affected by the decline in bitcoin prices.

Not only you most the people who invested in the value above 18000$ will not expected this to happened. And this sudden incident is the cause of many people lose their money after investment.But it may change at any time.Patience is a needed one in this altcoin investment while compared to bitcoin trading.

[MiningBattalion]

Honestly, I didn't expect the price of bitcoin to fall this deep, is it still reasonable if it's just a price correction? because previously I thought bitcoin would not drop below $ 18k, But now it looks like it's going to go deeper.
Altcoins are also of course affected by the decline in bitcoin prices.

Not only u most the people who invested in the value above 18000$ will not expected this to happened. And this sudden incident is the cause of many people lose their money after investment.

Due to the fall in bitcoin and Ethereum price, the altcoin market collapsed.So it may be a right time to buy a trusted altcoin at the cheap price as much you can.But you should not get into the selling of altcoin at this time.It will make you to lose a money.

[posi]

Honestly, I didn't expect the price of bitcoin to fall this deep, is it still reasonable if it's just a price correction? because previously I thought bitcoin would not drop below $ 18k, But now it looks like it's going to go deeper.
Altcoins are also of course affected by the decline in bitcoin prices.

Not only u most the people who invested in the value above 18000$ will not expected this to happened. And this sudden incident is the cause of many people lose their money after investment.

Due to the fall in bitcoin and Ethereum price, the altcoin market collapsed.So it may be a right time to buy a trusted altcoin at the cheap price as much you can.But you should not get into the selling of altcoin at this time.It will make you to lose a money.

MiningBattalion, you are absolutely right and this is what most people in the crypto investment dont understand instead of them to buy low now that the market have experienced market correction, they will be complaining on something that have already happen which cant be rectify.
With that been said, if you guys check the historical data of Bitcoin market when ATH is almost achieve market correction always happen for the last chance of buying low which is what we are see now.

[Teraboy]

Honestly, I didn't expect the price of bitcoin to fall this deep, is it still reasonable if it's just a price correction? because previously I thought bitcoin would not drop below $ 18k, But now it looks like it's going to go deeper.
Altcoins are also of course affected by the decline in bitcoin prices.

Not only u most the people who invested in the value above 18000$ will not expected this to happened. And this sudden incident is the cause of many people lose their money after investment.

If they didn't expect the correction to happen and that means if they are lack of knowledge about the crypto trade.
The previoud dump caused by the correction that has been made by the whale and it looks very good to see bitcoin can still stand above 17k position. if bitcoin can sustain in this level even longer and there are possibilities bitcoin could go even higher than before. The next pump will be started from the current rate.

[kidbounty]

yesterday I was surprised to see a trend that is changing so fast. but I realized that behind a high uptrend there would always be bubble breaking. but I believe the situation this time only happened because the Whales took profit in the market. look at me altcoins have started to go back up today, I hope this will continue until the new year.