Black Tuesday for altcoins! - page 4.

williamevanl

sr. member

Activity: 404

Merit: 253

Quote from: IXC2XIC on August 11, 2014, 11:05:31 PM

Quote from: williamevanl on August 11, 2014, 11:03:33 PM

Well folks, we all knew it was going to continue like this forever. (images of titanic come to mind

)

I wouldn't say forever. If you were around last November you'll remember this is exactly what happened. People were panicking and freaking out cause alts we're completely collapsing. Little did people know that was the best time to buy all you could afford.

First off, I was. Secondly I think this is just round one. Lets see what the next couple of days bring... Don't get me wrong though, there will be a time to buy but honestly only a couple options will be worth it.

Viper1

sr. member

Activity: 686

Merit: 320

All these coins are basically no different than stocks and because of that, I believe it's mostly due to it being summer.

Couple quotes:

Quote

There is an old wives' tale on Wall Street, summed up by the expression: "Sell in May, go away, and don't come back till St Leger's Day." ...... Read the paper by professors Ben Jacobsen and Cherry Zhang at Massey University in New Zealand. They've basically looked at data for more than 100 stock markets. In some cases, such as Britain's, their data has gone back three centuries ....... In a nutshell: Year after year, decade after decade, stock markets have generated all their returns in the winter months.

"Sell in May and go away" is strategy that some investors and traders are likely contemplating right now ....... The adage is based on the historically weaker performance of stocks during the May through October time period. Adherents shift from stocks to cash at the beginning of May and then invest back into stocks at the start of November ....... Historical performance shows there are best and worst six-month periods for stocks. Jeff Hirsch at the Stock Trader’s Almanac calculates that the Dow Jones industrial average has an average return of just 0.3% during the worst six-month period (May through October) since 1950 ...... Conversely, during the best six months (November through April), the Dow has an average gain of 7.5%. Sam Stovall at S&P Capital IQ says the S&P 500 has risen by a mere 1.2% during the average worst six-month period, while rising 6.9% during the average best six-month period. (Sam’s numbers go back to 1945.)

IXC2XIC

full member

Activity: 126

Merit: 100

Quote from: williamevanl on August 11, 2014, 11:03:33 PM

Well folks, we all knew it was going to continue like this forever. (images of titanic come to mind

)

I wouldn't say forever. If you were around last November you'll remember this is exactly what happened. People were panicking and freaking out cause alts we're completely collapsing. Little did people know that was the best time to buy all you could afford.

williamevanl

sr. member

Activity: 404

Merit: 253

Well folks, we all knew it wasn't going to continue like this forever. (images of titanic come to mind

)

IXC2XIC

full member

Activity: 126

Merit: 100

IXC2XIC

full member

Activity: 126

Merit: 100

Quote from: cuddaloreappu on August 11, 2014, 10:43:44 PM

many altcoins are just having a meltdown... does anybody know the reason?..

The exact same thing happened last year before the big boom. Heard it called the Bitcoin effect or Tsunami effect. Sure feels like a tsunami. This is when you buy, when they're nearly free and everyone is freaking out.

vuduchyld

sr. member

Activity: 364

Merit: 250

Total crypto market cap on coinmarketcap.com has dropped to $7.905 billion...and figure BTC and LTC make up more than 7.6 billion together. That means everything else combines for less than $300 million? That's a biiiiig dump from just last Monday.

vuduchyld

sr. member

Activity: 364

Merit: 250

#   Name   Market Cap   Price   Available Supply   Volume (24h)   % Change (24h)   Market Cap Graph (7d)
1   Bitcoin Bitcoin   $ 7,473,589,399   $ 569.21   13,129,850 BTC   $ 15,770,000   -3.52 %
2   Litecoin Litecoin   $ 171,298,330   $ 5.52   31,055,654 LTC   $ 7,932,790   -20.63 %
3   Ripple Ripple   $ 42,877,872   $ 0.005196   8,252,600,677 XRP *   $ 292,933   4.12 %
4   Nxt Nxt   $ 30,120,913   $ 0.030121   999,997,096 NXT *   $ 161,232   -18.42 %
5   Darkcoin Darkcoin   $ 22,787,716   $ 5.01   4,551,817 DRK   $ 220,067   -9.34 %
6   Peercoin Peercoin   $ 18,556,318   $ 0.857853   21,631,116 PPC   $ 175,000   -10.96 %
7   BitSharesX BitSharesX   $ 17,141,253   $ 0.008572   1,999,775,140 BTSX *   $ 81,565   -4.93 %
8   Dogecoin Dogecoin   $ 12,536,478   $ 0.000140   89,543,716,277 DOGE   $ 237,421   -15.32 %
9   Namecoin Namecoin   $ 12,358,992   $ 1.29   9,570,450 NMC   $ 107,749   -8.88 %
10   MaidSafeCoin MaidSafeCoin   $ 12,205,158   $ 0.026970   452,552,412 MAID *   $ 29,625   1.87 %
11   BitShares PTS BitShares PTS   $ 7,223,964   $ 4.36   1,658,272 PTS   $ 36,119   0.88 %
12   Monero Monero   $ 5,662,143   $ 2.08   2,720,157 XMR   $ 135,301   3.09 %
13   Counterparty Counterparty   $ 5,403,557   $ 2.04   2,648,738 XCP *   $ 10,523   -8.61 %
14   XCurrency XCurrency   $ 4,729,074   $ 0.856152   5,523,639 XC *   $ 51,583   -2.33 %
15   BlackCoin BlackCoin   $ 3,988,230   $ 0.053427   74,648,907 BC *   $ 125,916   -15.59 %

Take your pick...lots of red ink today

jjc326

hero member

Activity: 700

Merit: 500

No idea yet but I'm sure one will turn up. It could be a panic type move. Maybe bad news for one coin like a big one like ltc and the others are filling suit. I'm not able to check right now, what percentage down are they?

byt411

hero member

Activity: 798

Merit: 1000

Quote from: cuddaloreappu on August 11, 2014, 10:43:44 PM

many altcoins are just having a meltdown... does anybody know the reason?..

Because most of them are shitcoins with nothing new or innovative, and just copies of each other?

cuddaloreappu

hero member

Activity: 756

Merit: 502

many altcoins are just having a meltdown... does anybody know the reason?..

Topic: Black Tuesday for altcoins! - page 4. (Read 3323 times)