I pity you if this so-called altcoin bleeding is already bad for you. 2014 was the worst, most members here have stopped posting, the volume in the markets have dwindled to an average of $200 per 24 hours per coin. Lackluster coin launches only attracting the pump and dump groups. Back then, you fear that crypto was a fad and slowly dying.
Now? Many of you newbies are making the markets expand. What I see is a distribution phase in the markets where the earlier adopters/holders are distributing coins to you newbies.
After this distribution, the markets will achieve equilibrium and may experience some price ranging or sideways movement and then a new trend will form, possibly 80% chance of continuing the bull market.
Wow 2014 looks scary based on what you say.I wasn't into crypto that time although I badly wish I was
..What I don't understand is why do all altcoins bleed when eth ort btc goes down?
I get that it maybe because most exchanges use these coins for buying altcoins, but even many established coins start going down when btc goes down . Why is that, is it just because of sentiment?
Back then (pre-Tether days), when btc pumps, every coin also pumps in USD value because the BTC value remains the same. Usually altcoins just price range when traders paly with btc. Only in major price movements do altcoins bleed (Increased btc volatility means trade and profit = traders sell altcoins to trade btc cuz better liquidity means larger positions).
But now Tether is widely used, arbitration can be achieved between exchanges. So what this means, traders can profit from the price difference in fiat values when trading alts. Now when btc goes up, alts go down in btc value but actually remains stable in fiat value.
Why do altcoins bleed when eth or btc goes down? Because a large section of whale traders just daytrade altcoins and they don't want to get stuck in an illiquid market when they believe btc or eth will go down further and most volume is in alt/btc or alt/eth pairs.
I probably not making sense, it's a complicated issue. TLDR - btc or eth whether they go up or down, altcoins bleed. The best time for alts is sideways movement for btc or eth. And altcoins go 4x - 10x average.