Are we moving towards the Global Crypto Currency Depression? - page 2.

grermezter

sr. member

Activity: 434

Merit: 250

Quote from: avikz on July 11, 2017, 05:39:13 PM

As per coinmarketcap website, we have 970 crypto currencies available at this point of time. If we sort the list by clicking on Change (24h) column, I can see that price of only 13 coins were increased in last 24 hours. Rest all coins are facing the depreciation.

Even bitcoin price is standing at 2359 USD at this point. Are we moving towards a Global Crypto Currency Depression? What's causing this massive depreciation?

It is not the end yet for crypto currencies everywhere, the months of June and July has not been favorable at all and its due with grim forecasts by these so called experts in cryptocurrency which is hindering people from investing in the currency for fear of losing their money.

StevenRA

member

Activity: 91

Merit: 10

The point about the sheer volume of alt coins is very relevant. Has actual total $ and other fiat going into cryptos dropped, or has all of the new tokens been taking away from BTC, Eth and other major cryptos?

freedomno1

legendary

Activity: 1806

Merit: 1090

Learning the troll avoidance button :)

To sum it up people are putting their popcorn on hold and moving around to get the best seat of what will occur in the month of August the calendar ahead has a lot of little forks and sidepaths that could occur depending on what happens.

https://bitcoinmagazine.com/articles/countdown-segwit-these-are-dates-keep-eye/

niisarearning

sr. member

Activity: 910

Merit: 252

I really don't understand how people are really evaluating market . I he is a trader at least small business man he could able to understand the fluctuation common if it is going low you can able to hold that crypto untill it raise .

funnycoinas

newbie

Activity: 10

Merit: 0

Definitely yes.
I think they are imminent and keep sending us a signal as turbulent prices and sudden price crush and so on, :/

Amph

legendary

Activity: 3248

Merit: 1070

i can't see how this is any worse than winter 2016 or late 2014 early 2015, which were actually far worse than this dumping, all the cryptoworld is unstable, especially altcoin, what go up must go down at some point

but there will be another pump after bitcoin solve it's issue, after all all the alt are after bitcoin, ETH is no exception, even with the big marketcap

BurstIncomeAsset

hero member

Activity: 504

Merit: 512

Depression was the year of 2014 and 2015.

Remember that price was $200 not long ago and most coins didn't even exist.

freedomno1

legendary

Activity: 1806

Merit: 1090

Learning the troll avoidance button :)

It's called a correction, we had to much irrational exuberance and the market is just adjusting itself to a new market normal.
Timeline wise I expect the real market cap to be significantly higher than when we started the rally cycle but not near the peak we saw for Bitcoin around 3000 and other alts for a while moving forward.

bones261

legendary

Activity: 1806

Merit: 1828

ATM the majority of the markets on POLO are now in the green. Hope it's a reversal and not dead cats bouncing.

qiman

hero member

Activity: 1036

Merit: 504

Bitcoin and Altcoin markets are mostly deregulated and there will be up trends and down trends. This is normal and how all markets work, not just digital currency markets. We are trending in Bear Mode currently because of the Bitcoin scaling uncertainty and most Bitcoiners, although they say they do not care about altcoins, mostly TRADE and suck the blood dry out of Altcoins in order to generate more bitcoin profits. It is a bit like a man saying he hates Ladies of the Night, yet he still frequents the Brothels to have fun there with the ladies. This is the love and hate relationship most traders have for altcoins. Only those who are really passionate about the technology and understand that having these altcoins is very HEALTHY for Bitcoin because more and more innovation comes and also competition technologically, that it is Altcoins that have helped the price of Bitcoin to grow. Even we are going through a small blip at present, I believe it is not as doom and gloom as some want to predict. We are just at the start of this blockchain technology and what it can do for us.

Vishnu.Reang

sr. member

Activity: 1988

Merit: 453

I don't understand why the "analysts" are just concentrating on the extremely short duration. Take Ethereum as an example. It has risen from $2 per coin to almost $400 per coin (before falling back to around $190 per coin as of now), in less than two years. How can we call this as a depression or a recession? It is just a market correction.

JCXCRYPTO

newbie

Activity: 2

Merit: 0

Hi this is John from san Jose. I have been mining for only 1 month with genesis. I have been trading currency pairs since 2007. I noticed last year they were offering btc/usd and btc/jpy on my brokers site. So far I have not seen any other crypto/fiat pair. Also I heard recently that if the market cap goes over 50 bln then the central banks will be able to make some enormous purchases, bitcoin,with no one making more coins,Has no where to go but up. For these reasons I am getting into Bitcoin, thBTCey are just so far ahead. Good Luck to you all, JC

CrewKitten

member

Activity: 84

Merit: 10

Quote from: krishnapramod on July 11, 2017, 10:50:38 PM

Quote from: avikz on July 11, 2017, 05:39:13 PM

As per coinmarketcap website, we have 970 crypto currencies available at this point of time. If we sort the list by clicking on Change (24h) column, I can see that price of only 13 coins were increased in last 24 hours. Rest all coins are facing the depreciation.

Even bitcoin price is standing at 2359 USD at this point. Are we moving towards a Global Crypto Currency Depression? What's causing this massive depreciation?

The market cap of all cryptocurrencies was around $116.5 billion in mid-June and today less than $78 billion today so yeah it could be said that cryptocurrencies are going through a temporary depression. Ethereum took the worst hit and it is expected, market is being flooded with ICO sell orders. Bitcoin and altcoin prices are correlated to some extent. Compared to altcoins, bitcoin is still more stable, there would be some uncertainty in the market until August 1.

Altcoins almost always follow the price of Bitcoin. As a matter of fact, the only one which did not during this last parabolic rise has been Litecoin. For some reason Litecoin actually went down while Bitcoin was rising, and then when Bitcoin started falling Litecoin climbed from $30 to $45 in a few days.

d5000

legendary

Activity: 3906

Merit: 6249

Decentralization Maximalist

Quote from: RoommateAgreement on July 11, 2017, 10:21:59 PM

the altcoins has never had any significance, and only people who were pumping them kept quoting the total market cap and silly things such as bitcoin's dominance. and the reason for their dump isthis.

While I agree that the coming depression is more an "Altcoin depression" than a "Crypto currency depression", I think the reason for the extreme spike of the altcoins was actually the uncertainty about Segwit. That gave some altcoins the opportunity to sell themselves as the "next Bitcoin without scalability issues", and then also we had the Ethereum ICO bubble - pulling most other alts with them due to the speculation wave, even totally insignificant clonecoins like BitConnect (WTF is that doing in the top10? It's a cloned Peercoin, nothing more!).

Quote

as for bitcoin, this is a temporary hiccup because SegWit will soon be activated on August 1st because it has a high support and then we will see a big rise with this period as its accumulating cheap coins period. and then we will have problem over the hard fork that comes a long time after that date.

I agree somewhat, I give it a 60% probability that Segwit gets activated until August without a chain split and then a rally to "da moon" (or new ATHs) begins. But there is also some probability that the Segwit2x agreement will fail. I think most "decentralization-oriented" Bitcoiners will then support the BIP148 chain and even if "Bitmaincoin" first gets a high hashrate, I think the Segwit/148 chain will win. But in this case I expect turbulences that can lead down to $1350 or even lower - if it then recovers, we can rise again to the present highs.

carlfebz2

hero member

Activity: 2926

Merit: 722

DGbet.fun - Crypto Sportsbook

Quote from: avikz on July 11, 2017, 05:39:13 PM

As per coinmarketcap website, we have 970 crypto currencies available at this point of time. If we sort the list by clicking on Change (24h) column, I can see that price of only 13 coins were increased in last 24 hours. Rest all coins are facing the depreciation.

Even bitcoin price is standing at 2359 USD at this point. Are we moving towards a Global Crypto Currency Depression? What's causing this massive depreciation?

I dont mind even there are thousands of crypto coins in the market since i do only select on those who do have potential its not actually depression since its a common thing that do happen on these kind of coins considering the volatility. If we are all seeing on reds then then thats the effect of the upcoming event for sure but expectedly this kind of decreasing prices would recover up after that.We should really not panic on this situation in fact we should see this as an opportunity to buy more cheap coins.

krishnapramod

legendary

Activity: 1470

Merit: 1079

Quote from: avikz on July 11, 2017, 05:39:13 PM

As per coinmarketcap website, we have 970 crypto currencies available at this point of time. If we sort the list by clicking on Change (24h) column, I can see that price of only 13 coins were increased in last 24 hours. Rest all coins are facing the depreciation.

Even bitcoin price is standing at 2359 USD at this point. Are we moving towards a Global Crypto Currency Depression? What's causing this massive depreciation?

The market cap of all cryptocurrencies was around $116.5 billion in mid-June and today less than $78 billion today so yeah it could be said that cryptocurrencies are going through a temporary depression. Ethereum took the worst hit and it is expected, market is being flooded with ICO sell orders. Bitcoin and altcoin prices are correlated to some extent. Compared to altcoins, bitcoin is still more stable, there would be some uncertainty in the market until August 1.

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

If you've been in the cryptocurrency world for a long time chances are you already know that these crashes are normal. As august 1 is approaching fear is going to continue to make the prices drop. Also, I think altcoins are heavily affected due to the huge number of ICOs being opened and also because you can't buy some altcoins with USD, only in exchange for bitcoin.

pooya87

legendary

Activity: 3472

Merit: 10611

for starters bitcoin price can not always go up, it needs to come down too and then stop at some level and stabilize there. we had that at $2500.
and for now it seems like the "split panic" is dominating the market and causing the drop for the time being. and this is not the first time we get this type of panic after a big rise. looking at the history of bitcoin it is filled with moments like this.

Juggy777

hero member

Activity: 2646

Merit: 686

Quote from: avikz on July 11, 2017, 05:39:13 PM

As per coinmarketcap website, we have 970 crypto currencies available at this point of time. If we sort the list by clicking on Change (24h) column, I can see that price of only 13 coins were increased in last 24 hours. Rest all coins are facing the depreciation.

Even bitcoin price is standing at 2359 USD at this point. Are we moving towards a Global Crypto Currency Depression? What's causing this massive depreciation?

Alts have never really mattered to me they never will, they are alts and they are bound to go down, as far as Bitcoins is concerned, it's a small fall, like I would have worried if it fell to say 1500$ but it hasn't, and like they say every fall is a buying opportunity, so acculumate and once this August 1st drama is all but over, we shall move on from this for good. Till then some corrections are bound to happen so that's okay, just keep buying at every fall.

RoommateAgreement

hero member

Activity: 770

Merit: 500

Bazinga!

the altcoins has never had any significance, and only people who were pumping them kept quoting the total market cap and silly things such as bitcoin's dominance. and the reason for their dump isthis.

as for bitcoin, this is a temporary hiccup because SegWit will soon be activated on August 1st because it has a high support and then we will see a big rise with this period as its accumulating cheap coins period. and then we will have problem over the hard fork that comes a long time after that date.

Topic: Are we moving towards the Global Crypto Currency Depression? - page 2. (Read 1625 times)