Topic: Alt-coin Massacre continues (Read 1615 times)

Why is that a bad thing, that's great!  Just an opportunity to buy more cheaper.  It will go up eventually.  The further it goes down the more you buy.

Who cares if altcoins are in the red. If you are in for long-term and you've already accepted the fact that all the money you invest can be lost then stop winning when altcoins are in the red omg.
If you are a day-trader well I think you're not winning and make small profits every day .

Also, they are some great news that could prevent the bubble to burst "that much":

- Goldman Sachs: Bitcoin Price Is In Sweet Spot, Eyes $4,000 in 2017
- South Korea to Soon Legalize Bitcoin and Ethereum, Protect Traders From Bubble Burst
- It’s Official: Japan Has Eliminated Tax on Bitcoin, Rise in Trading Expected
- Bitcoin ‘Going To Moon,’ Could Reach $1 Billion: FOX News
- US Government to Host Federal Blockchain Forum
- Two NYC Private Preschools Now Accept Cryptocurrencies for Tuition Fee Payments
- Billionaire Fortress Investor: Cryptocurrencies Will Be Worth $5 Trillion by 2022


I don't like the latest news about the Billionaire Fortress Investor that stayed that Crypto will be worth $5 Trillion by 2022.
For mainly two reasons:

- This douche bag invests in Bitcoin, Etherum, and Litecoin and so his point of view is biased as he will likely profit from the surge of cryptocurrency
- This douche bag also specified that people need to invest in top cryptocurrencies and avoid altcoins because long-term most of the altcoins will worth nothing. Of course, lot's of projects
won't survive but there are still lot's of promising altcoins out there that are worth investing. Also, by saying this shit, this douche bag investor can profit even more from cryptocurrencies
as he only advise people to invest in top crypto coins (and HE only invested in top crypto coins, so ofc if he advertises people to invest in top crypto coins, HE will be the one that earn the more).

Having said that. Of course, bitcoin investments surge exponentially lately and so it seems that the bubble has burst a bit, yet, all these news, plus the fact that, now, media are not against
bitcoin (so much) anymore tends to make me think that we might avoid the bubble from exploding completely.

Also, as everyone saw during the rally, promising altcoins are the coins that allow people to earn more money as it is easier to triple an altcoin market cap than a bitcoin market cap. So, in a nutshell,
stop winning about your money and cryptos that are in red because by investing you've already agreed to lose everything and because most of you are in cryptos for long-term investments. So stop looking
at the price and go hang out!

I don't think now is the massacre of alts. Yes, most has been in small minus lately but nothing big happened. The coins haven't dropped their prices much. I think now is still the pump period and who knows when we'll see the real death of most of rubbish. Moreover, some coins (doge, gbyte) are even growing now, so I guess it is definitely not the bad time for everyone.
People in this thread have been talking about people losing money for their bad investments and that they learn a lesson from it. I think there's nothing bad in short-term investments, it's just business after all.

We definitely needed a correction. Some of these currency valuations were way too high!

There is no way to know the top or the bottom of any asset, you might be luck sometimes. I have always said it is better to be talking profit along as your portfolio grows. FOMO and Greed is what drove the price high quickly, I know the market still has along way to go because of influx new entrance into the space, maybe sometimes in future $1 trillion valuation but for now correction is needed

Yes. they are probably trap and the only way to exit is to incurred losses on their end. And I hope they all learn their lessons well and not go into investing what they can't afford to lose. Guys that already went out before the bloodbath are so happy they exit early. But for those who are trap, no way to go out but get some losses and shrug their shoulders.

I just pray we won't witness a Bitcoin chain split, because you will then see a true massacre. I also can't believe that tokens with huge potential such as BAT are trading below 5k satoshi, but that's the reality now.

A correction may be coming. We’ll see, you can never know for sure. There are many opinions on why this is a bubble or not. Nonetheless if your strategy is to hold long-term, a correction should not be a problem.

I don't think it's that bad yet. I remember 2 years ago everything became red and there were thousands of threads. It's nothing compare to that time. Just usual up and down and lot of altcoins are riding bitcoin cottails. It goes up, they go up.

I have the feeling, that we are about to slowly drop to 50-70B market cap because if you look at the all time charts there have been situations like this before...Well okay, you cant compare the circumstances now and then but there is also a lot of pyschology involved and cryptoland hasn't reached mainstream yet...i think the pump of this year was an approach to it but after all maybe a bit too early for the technology behind all these crypto things is too complicated for the everyday guy to understand and develop trust in it - yet.

I always see the came complaints about altcoins and tokens. What is that guys and why do you always expect green color for altcoins? This is not possible. You have to see this.

Not all altcoins are on red but there are still some on green but mostly of them are on red which means they are on the down trend and its not really surprising since cryptos do behave on this way and we do know that they are all volatile depending on the news or event that do happen on the market which really affects the price movements of those coins but eventually instead of worrying its the best time to buy cheap coins.

Seems a lot of it is self fulfilling prophecy, people see some dips so they sell, often at a loss. This is not good investing. I have faith in the projects I've invested in so I don't mind a bit of a drop. I'm holding because I think they will go way higher in time. There is too much fear and following the herd in crypto trading. If people would just buy the projects they believe in instead of gambling on total go no where shit coins we would see much fairer prices on quality projects instead of money flowing into actual shit coins. Are people cashing out to fiat cause they actually think bitcoin will drop to $1900? That sounds like dumb money to me.

its not as bad as the weeks before, the entire market seems to be calm, we are slowly moving up and down compared to the weeks before where the total market cap went up and down with a total of 20-35bln we only see a difference now of 3-4bln.

bitcoin seems to be very stable at the moment and the other coins are not doing anything crazy either, i prefer this alot more than the weeks before.... who knows maybe we might go up after all 

so a massacre..... no not really. calm before the storm? mostlikely! lets hope its a storm upwards now downwards!

not true for all altcoin, nexus and spreadcoin and netko are in green, and increased a lot in the last weeks, they doubled their price, some shitcoin are in red and other not much, zcash is also holding strong, lbry got some red dumping, but overall nothing really changed only the diff went really high

it seems that those who had been trap from the bubble show are trying to recover little of their investment so even selling at their loses they still
continue and waiting for another great timing to bounce back and like what you have said they are trying to be more extra careful with their actions.

Ther are also altcoin which are still only rising, like Byteball.

I see this as a signalling effect to the supremacy of bitcoin in the crypto world because at the time there was the crashing of the price of bitcoin, all alt took a nose dive which is explainable because of the price of bitcoin but weeks after when the price of bitcoin is recovering it seems the alt are not just responding. I guess people are being careful without knowing the direction of the price alts generally.

it was the pump, when you see an altcoin with 0 real usage is getting pumped to 0.152BTC you should also count the seconds until its bubble busts and the drops begin.
and that is what we are seeing now.

but the altcoins with better usage or altcoins that have not been pumped are currently rising.
LTC is at 0.02 right now and that is a 33% rise in this week


yeah if bitcoin also had a couple of billion (instead of this 16.5 mil) coins as its supply and had 90% of it premined then it would have had a bigger market cap.

This. Convert your shitcoins to Litecoin before it's too late.