What's up with the recent decline?

[lixer]

There are some altcoins that aren't down as badly as popular coins like ETH and BTC.

There are no surprises on seeing most of the altcoins are down right now, one of the prime reason for this is, when investors and traders are in bearish mode, they will probably book profits in all their investments (most traders and investors are always good in diversification) and they may not think about buying further until there will be a change in the direction of market.

There were multiple reasons why we are having big correction right now in entire crypto space. China's ban on crypto operations must be one of the big one along with Elon Musk's negative comments on bitcoin mining operations.

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[Maslate]

There are some altcoins that aren't down as badly as popular coins like ETH and BTC.

There are no surprises on seeing most of the altcoins are down right now, one of the prime reason for this is, when investors and traders are in bearish mode, they will probably book profits in all their investments (most traders and investors are always good in diversification) and they may not think about buying further until there will be a change in the direction of market.

There were multiple reasons why we are having big correction right now in entire crypto space. China's ban on crypto operations must be one of the big one along with Elon Musk's negative comments on bitcoin mining operations.

The effect that we are seeing now is not yet the worst, prepare yourselves for the worst to come as we are in this situation before that people think the market will not be able to survive, but they are wrong because bitcoin hit a new ATH in the recent bull run. Don't panic, that's the only thing we have to do, because if we believe in crypto and in bitcoin, all these worst scenario may only become as a normal one.

[zanezane]

The current decline is actually not surprising since bitcoin got off a hot start from 2020 while the rest of the world struggled to find something during the onset of the pandemic. It lasted for a good while, and we all know that what comes up must come down and that’s exactly what’s happening. The resistance @ $29k is pretty solid, as it was tested a few days back and it held on like a champ. A sideways market, IMO, is to be expected with all these news re: China’s recent actions on miners lingering the scene.

Hopefully the resistance at 29k will stay strong for a long time because a lot of FUD will definitely feast on the market if it breaks and goes down yet again. With all the things that you said though, there seems to me not a lot of long-term effects that is causing the decline in the market so, I think that I can still probably sleep well.

[CryptopreneurBrainboss]

There are some altcoins that aren't down as badly as popular coins like ETH and BTC.

No worries buddy, give them some time, their time will come. Most probably if the market stays in this form for another month, I don't think most altcoins will have what it takes to last another bearish period that follows in the coming months. Remember binance coin was one of those project that held strong during the market declines but this recent dumped saw it trading below the $300 mark which means it's has declined more that -50%.

Just like BNB other coins will keep losing their value, altcoins aren't trusted during the bearish market, the project with very strong fundamentals and community are and that's why Bitcoin and ethereum seems to be holding strong. No doubt they have more money in them so they'll be the go to coins for security.

[ILuckyGuyI]

I'd like to say that FUDs are the reason but I don't think so this time. Maybe people started selling too much after seeing the negative movements in the market. And it affected the balance of the market also.

[Rajamuda]

I'd like to say that FUDs are the reason but I don't think so this time. Maybe people started selling too much after seeing the negative movements in the market. And it affected the balance of the market also.

such high anxiety can cause all of this, more and more people are certainly influenced by various negative things to the point of doubting. however, not all investors will decide the same, this can be an opportunity to buy too