Altcoins market has always been a distraction right from time, but at the same time, they are still a kind of necessary evil anyway.
What I can see here is that most of the time, the altcoin market is always a way of the whales just taking a chance to making more money which is why it is a lot more volatile and the truth is that, as long as people get to know that bitcoin will never lose dominance in the long run, the better they will be able to make decisions into knowing that altcoins sometimes are just basic B.S.
Topic: Another large scale altcoin dump and bitcoin price was brought down! (Read 414 times)
September 09, 2018, 02:59:57 PM
September 09, 2018, 10:34:59 AM
In other words, competition for Ethereum is the best thing that could happen to this market. Startups no longer need to use Ethereum as base, they have a wide variety of much better scaling alternatives to choose from. Ethereum started it all, and it gave birth to platforms that might at some point overtake its spot.
Spot on. I see people constantly refer to other coins as a waste of resources, which in most cases they are right on, but the few occasions where they are wrong helps this industry to remain fairly well distributed overall.It was quite a bitter pill to swallow seeing how Ethereum literally broke through last year. No matter how hard I tried to convince people that they were buying themselves into fraudulent ICOs, it was a total waste of effort.
I have been part of this market for a while, but I have never seen anything like the ICO explosion before. It took so much attention away from Bitcoin at that point, that I'm glad the parasitic ICO problem more or less solved itself.
September 09, 2018, 09:17:33 AM
another massive altcoin dump has been going on today specially in big coins like Ethereum which actually was among the biggest dumped coins today with nearly 20% drop. and that led to a small but still a 5% drop in bitcoin price today.
Easy there, this is not a large scale dump at all, we were right here just last week or so, it is not a surprise that we went up to $7.2k and went down here, we did this couple of times already and we must get used to it, this is the max we can get without getting a bigger bull run, the price difference between $6.4k and $7.2k is the profit you can use in your favor but when you are stuck at the other side and bought it at $7.2k and now see the price low don't go out and sell your bitcoin right away, wait a bit, in a week or two bitcoin will be $7k+ once again and than you can sell it. Bitcoin price is quite volatile specially in that 10% range.the market is generally subject to manipulations by the whales and that is one thing we cannot rule out and the altcoin market is actually like a money making machine for them
In all kind of market situations too, these manipulations are happening but we do not give them any big attention as it is rarely influencing the bitcoin market. When eth was bumped to $1+k price levels bitcoin market remained calm but overall market movements are based on people's psychology and no one could understand them. 
September 08, 2018, 07:30:05 AM
I read that it may be related to Goldman Sacks not opening an exchange but I do not think this is the main reason.
ETH losses was huge, XRP too, but even Bitcoin dropped more than $700 lately which is huge
It was more like a widespread fire in the market in a short period of time.ETH losses was huge, XRP too, but even Bitcoin dropped more than $700 lately which is huge
ETH market has been very slow to rising already and the dump did not just start. Even while other altcoins were trying to make a move, ETH was very reluctant to, so I would not have been surprised that it had a very crazy dump.
Nevertheless, the market is generally subject to manipulations by the whales and that is one thing we cannot rule out and the altcoin market is actually like a money making machine for them, which has always caused a lot of distractions, but in the real sense, there is absolutely nothing we can do about it.
September 07, 2018, 09:29:02 AM
Other altcoins suck just as much or even more than Ethereum. These PoS coins - EOS, Cardano, NEO are even more centralized than ETH and has just as many bugs and problems. There's still a good chance that ETH will outlive them, just because it has been longer in development, has fixed more bugs and is PoW for now.
While other coins might suck just as hard, we really need to have the utility platform part of the market to be well diversified. Back in 2017 it was just Ethereum that people could buy into, which as we all know, pumped its price to insane levels, and it was very close to Bitcoin in terms of market cap at one point. Right now the same won't happen again because the pool of funds that will flow into altcoins will be split in smaller fractions where each individual coin will get its share of the pie.
In other words, competition for Ethereum is the best thing that could happen to this market. Startups no longer need to use Ethereum as base, they have a wide variety of much better scaling alternatives to choose from. Ethereum started it all, and it gave birth to platforms that might at some point overtake its spot.
September 07, 2018, 08:26:13 AM
I read that it may be related to Goldman Sacks not opening an exchange but I do not think this is the main reason.
ETH losses was huge, XRP too, but even Bitcoin dropped more than $700 lately which is huge
ETH losses was huge, XRP too, but even Bitcoin dropped more than $700 lately which is huge
of course if you look at the number that changed (700) it seems huge but when you look at the percentage you can see that it was less than 9% which is in fact small. or at the very least you can call it a medium drop.
but the percentages of drops in altcoins have been above 10% and mostly closer to 20% rather than the lower bound.
Goldman Sachs news was a major thing but I remain on saying altcoin dumps have been a big pressure pulling the price down. it slowed down a lot but I am afraid we have not seen the end of it yet.
September 07, 2018, 07:24:37 AM
I don't think there is some real connection between altcoin and Bitcoin market. Yes, trends on both influence each other but on the other hand each of them is functioning independent and I don't think that solving some issues on the altcoin market would necessary influence Bitcoin market in positive way and prevent it from dumping. There are many other factors that cause dumps and corrections.
That kind of connection between altcoin and Bitcoin market that would beat negative influence on both sides isn't achievable.
I think it has connection, trend market are influence by Bitcoin movement. Whether pump/dump on altcoin market can influence on Bitcoin price, i don't think so. But Bitcoin pump/dump affected much on altcoin market. I think to solves this, people need to give knowledge about how doing safe trading by not following trend pump and dump from some groups on social media. That kind of connection between altcoin and Bitcoin market that would beat negative influence on both sides isn't achievable.
September 07, 2018, 05:16:49 AM
If the altcoin dump was largely against Bitcoin pairs, then it would certainly help explain why Bitcoin didn't slump as badly in the fall, and why it is continuing to rise back up while ETH and gang can't seem to enter recovery mode.
It's all a culmination of powerplay behind some of the big altcoins, along with anxious profit taking on a market firmlu anchored to 2018's strengthening claims to being the longest bear year.
The excitement just keeps building up on the road to 2020.
It's all a culmination of powerplay behind some of the big altcoins, along with anxious profit taking on a market firmlu anchored to 2018's strengthening claims to being the longest bear year.
The excitement just keeps building up on the road to 2020.
September 07, 2018, 04:17:19 AM
Maybe some of crypto whales want to make peope panics so they would sell their bitcoin and whales will eat their bitcoin. And since bitcoin dump again investor would change the asset from alt to bitcoin this is why the dominance btc raise to 54% because the if bitcoin down alt will down and if bitcoin up altcoin still sideways. But yesterday Bitcoin diamond had up until 150% in some exchange until 250% this because binance open their wallet of bcd so now the price of bcd in any exchange has been same.
i agree this is maybe we can collect more some of coin and this why we can make strategy with averaging down not stoploss so we can make double profit when market recovery again.
That's no reason to panic ! Guys look at it this way ! Buy cryptocurrency while there is still a chance to buy everything at affordable prices !
i agree this is maybe we can collect more some of coin and this why we can make strategy with averaging down not stoploss so we can make double profit when market recovery again.
September 07, 2018, 03:55:39 AM
That's no reason to panic ! Guys look at it this way ! Buy cryptocurrency while there is still a chance to buy everything at affordable prices !
Grabbing this oppurtunity to buy more coins while the market is on dip is a great delibertion to gain massive profits when the stability of the market has occur. Take this scene as a struggle that always contain a solution to be back and rise again consistently. 
September 07, 2018, 02:20:36 AM
I read that it may be related to Goldman Sacks not opening an exchange but I do not think this is the main reason.
ETH losses was huge, XRP too, but even Bitcoin dropped more than $700 lately which is huge
ETH losses was huge, XRP too, but even Bitcoin dropped more than $700 lately which is huge
September 07, 2018, 01:22:38 AM
Other altcoins suck just as much or even more than Ethereum. These PoS coins - EOS, Cardano, NEO are even more centralized than ETH and has just as many bugs and problems. There's still a good chance that ETH will outlive them, just because it has been longer in development, has fixed more bugs and is PoW for now. But anyway, no coin comes close to Bitcoin in terms of quality, I think we are lucky that we have competent devs and not some greedy scammers like most altcoins do.
I doubt that Bitcoin's price was crashed by altcoin dump, it probably was a coordinated selling, and then the markets gained downward momentum.
I doubt that Bitcoin's price was crashed by altcoin dump, it probably was a coordinated selling, and then the markets gained downward momentum.
September 06, 2018, 08:43:36 PM
That's no reason to panic ! Guys look at it this way ! Buy cryptocurrency while there is still a chance to buy everything at affordable prices !
This dump happen is not suprising at all if you take a look at the chart bitcoin are really overbought that stay for a couple of days and theres a news that someone move their bitcoin in just 24hours it decrease to 1k$, but this falling down is another opportunity to stock more altcoin & bitcoin, just observe carefully the situation dont be rush your self its better to wait than lose your fund I like your personality for being positive in this kind of situation.
September 06, 2018, 06:42:06 AM
That's no reason to panic ! Guys look at it this way ! Buy cryptocurrency while there is still a chance to buy everything at affordable prices !
September 06, 2018, 06:30:11 AM
another massive altcoin dump has been going on today specially in big coins like Ethereum which actually was among the biggest dumped coins today with nearly 20% drop. and that led to a small but still a 5% drop in bitcoin price today.
https://techcrunch.com/2018/09/02/the-collapse-of-eth-is-inevitable/amp/
interestingly enough despite all that bitcoin price is still pretty close to $7k mark and it is resisting all the money that is exiting from the altcoin market through bitcoin causing this sell pressure in bitcoin market.
people always say bitcoin drops makes altcoins dump. but this example among a lot of others is showing it is the other way around in a lot of cases.
I am wondering how many more times do we have to see these types of dumps before we start accepting there is a big problem with the altcoin market and that is damaging bitcoin too.
People say altcoins drop because of bitcoin either because they don't understand how Economics works or because a bear trend is going on, or they just don't understand how anything works. https://techcrunch.com/2018/09/02/the-collapse-of-eth-is-inevitable/amp/
interestingly enough despite all that bitcoin price is still pretty close to $7k mark and it is resisting all the money that is exiting from the altcoin market through bitcoin causing this sell pressure in bitcoin market.
people always say bitcoin drops makes altcoins dump. but this example among a lot of others is showing it is the other way around in a lot of cases.
I am wondering how many more times do we have to see these types of dumps before we start accepting there is a big problem with the altcoin market and that is damaging bitcoin too.
Bitcoin Diamond rose by 140%. What the actual fuck? The entire altcoin market almost collapsed, and this shit got pumped up, like its on a huge fat roll of weed.
Look at the market lol: https://coinmarketcap.com/
Fairly sure that was because CMC was bugged or introduced other exchanges with higher prices, it happens quite a bit which is why people need to do their research before buying something, nonetheless you are right, bitcoin is simply dominating the market, people called it outdated, even I called it that however it's still the boss of the market. The only times where alt coins thrive is during big bull runs like the last one, now the market is basically 2 coins, bitcoin and altcoin. The companies behind some alt coins are extremely different and yet they all go down at the same time no matter what, this market is not good for entrepreneurs trying to come up with new ideas. You can have the best idea, team, ico and your coin can still go to shit, it's pretty insane.
September 06, 2018, 01:46:45 AM
I don't see that dump coming and it happened in no time
It was a surprise for me too, but I've read today that it may be related to Goldman Sachs giving up some Bitcoin related plans.
Which would make sense somewhat, although I didn't see any announcement and since I find Goldman Sachs extremely untrustworthy I'd suspect it's just well planned FUD/pump and dump.
but it is an another opportunity to buy the bitcoin with much lower price and I hope these price dump is just temporary and it will back again to $7000 soon since the bitcoin prices were oscillating in that range for a while.But what is the exact reason for this to happen.
I like the fact you are so optimistic. I was optimistic too yesterday, I expected the price jump back to 7k in no time. Now I can only say "let's wait and see what happens". However, you are 100% correct: Bitcoin in at sales price again.
September 06, 2018, 01:39:57 AM
I don't see that dump coming and it happened in no time,but it is an another opportunity to buy the bitcoin with much lower price and I hope these price dump is just temporary and it will back again to $7000 soon since the bitcoin prices were oscillating in that range for a while.But what is the exact reason for this to happen.
September 06, 2018, 12:51:07 AM
It took like 3 weeks for the price to go from 6k3 to 7k5 and just 24 hours to go back down. This market is just hilarious.
I think what we should all do right now is to buy more as the price is so cheap now, and then wait for the market to react and go up.
What is sad is that there are too many whales out there controlling the game and making us having no idea what to do. The market is still heavily manipulated.
I think what we should all do right now is to buy more as the price is so cheap now, and then wait for the market to react and go up.
What is sad is that there are too many whales out there controlling the game and making us having no idea what to do. The market is still heavily manipulated.
September 06, 2018, 12:35:28 AM
Alt fall didn't cause the BTC fall, it never works that way. BTC fall caused the huge alt sell off. BTC never does as bad because people always move funds away from altcoins in to bitcoin.
September 05, 2018, 11:44:28 PM
How extraordinarily depressing. It's such a shitty shitcoin that if I attempted to shit on it, my turd would actually curl around and fight its way back up my colon.
Vitalik, the non giver of Ether agrees with you. Ethereum is a shitcoin.He thinks it's so shitty, that he's providing Bcash advice on how to become a great ICO platform (no joke), lol. That dude must be struggling with himself or he sold a large enough chunk of his Ether stash that he doesn't care anymore.
Vitalik suggesting bitcoin to become an ICO platform is not a new thing, he has been doing it for years and has been put down by bitcoin developers. now you say he has moved on to BCH to tell them the same thing he was telling bitcoiners.
as for the first line, some people may think it is a joke but on many occasions Vitalik has proven he has no faith in the future of his coin publicly! he even tweeted once that he would never invest in Ethereum or any cryptocurrency because he doesn't believe in their future, he instead invests in traditional assets such as stocks. of course he doesn't need to invest in ETH since he premined it and made millions by duping a small percentage of it.
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