Why the Altcoins are going down?

[nelruk]

I was following a few weeks ago about the altcoins and they are falling down too quickly. Besides some web pages still supporting them (specially Litecoin) I think one of the main reasons of why they going down is because they don't have a specific identity; I mean, they grown saying that they will make a secondary source, an option of BTC but they don't conquer investors, salesman, bussinessman, people who make a currency grow.

We all knew BTC had future when a platform like Wordpress allow to buy hosting with Bitcoins for example and that is a huge mistake of some currency like PPM, they don't look people who move the money. That's my opinion.

Could you tell others ideas?

[LiteCoinGuy]

because the most alts are scam.

hold some Litecoins and Namecoins and thats it.

[TaunSew]

Sell in May and go away is the old saying.  People in 2013 said alternates were dead until they boomed in November / December.

[DubFX]

I was following a few weeks ago about the altcoins and they are falling down too quickly. Besides some web pages still supporting them (specially Litecoin) I think one of the main reasons of why they going down is because they don't have a specific identity; I mean, they grown saying that they will make a secondary source, an option of BTC but they don't conquer investors, salesman, bussinessman, people who make a currency grow.

We all knew BTC had future when a platform like Wordpress allow to buy hosting with Bitcoins for example and that is a huge mistake of some currency like PPM, they don't look people who move the money. That's my opinion.

Could you tell others ideas?

It isn't that they are "falling down too quickly" what you are seeing on the charts is the pump and dump scheme.
The person with enought money does make an fake liquidity by their own buys making the value of the coin look like growing so more people will invest in it and after there is big enought order book that wasn't made by them, then they dump the coins.    

[asdlolciterquit]

it's simple just a period...

[DeViL303]

it's simple just a period...

If so, Maybe a tampon would help to stop the altcoins from going down.

[Hash Master]

it's simple just a period...

If so, Maybe a tampon would help to stop the altcoins from going down.

I just LOLd so hard.

However, in my humble opinion the Litecoin especially is not going to go down simply because people need alternatives. Considering the fact that it gets harder and harder to mine Bitcoins, Litecoin is the answer for many cryptocurrency enthusiasts.

[Nullu]

Look at the pattern of altcoin behavior. Alt goes up, gets dumped, then dies. Rinse and repeat, rinse and repeat.

This pattern of behaviour is killing the market. The simple fact of the matter is, there aren't enough new bagholders to come in, as the old bagholders that have been burned bow out of the pump and dump race.

You see the same attitudes over and over again.

1 - User mines/buys alt
2 - Prices goes up and up
3 - It's going to moon!
4 - The next big thing!
5 - Dumping begins
6 - Prices crashes
7 - User is holding the bag
8 - Still tells everyone it's the next big thing so he can dump his bag
9 - User spends time hoping price goes back up
10 - Coin dies

[Amph]

not enough buyers, too many of them, market dilution

[DubFX]

More sells than demand...this is the basic rule of commodity/currency going down in value.

[paduser]

They lost the trust or getting scammed by the developers. So they take out their money from all altcoins.

[darlidada]

dumb money leaving dumb coins en masse and going to some new dumb coin called ethereum

business as usual

[Wintermute]

because the most alts are scam.

hold some Litecoins and Namecoins and thats it.

+1

Litecoin is at least established to a certain degree. I still think that Darkcoin (or some alt anon coin) has a good value proposition.

[Equate]

Altcoins go down with Bitcoin , but many altcoins are already dead due to all the scammer Devs.

[TaunSew]

The issue here may not be alternates but frankly all the short term speculators and weak hands in cryptos.  It took years for Bitcoin to be worth anything and that delay weeded out a lot of the weaklings.


NEM and Ora, as far as I know, are the only 2 coins out of 400+ alternates to Bitcoin which are attempting an alternative launch model.  NEM and Ora is pre-launch token trading on an asset exchange and the hypothesis is that almost all the weak hands and speculators will dump before launch and thus when the coin does release it will be a community of holders and this will be good for stability and growth.

[homeey]

Look at the pattern of altcoin behavior. Alt goes up, gets dumped, then dies. Rinse and repeat, rinse and repeat.

This pattern of behaviour is killing the market. The simple fact of the matter is, there aren't enough new bagholders to come in, as the old bagholders that have been burned bow out of the pump and dump race.

You see the same attitudes over and over again.

1 - User mines/buys alt
2 - Prices goes up and up
3 - It's going to moon!
4 - The next big thing!
5 - Dumping begins
6 - Prices crashes
7 - User is holding the bag
8 - Still tells everyone it's the next big thing so he can dump his bag
9 - User spends time hoping price goes back up
10 - Coin dies

100% Agree With You!