Can someone explain me why all of them are going down? - page 3.

Freedom Force

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Quote from: Bezobraznike on February 02, 2018, 06:09:25 AM

How it is possible for all of them to go down? I can not find logical
answer. If they are have different chains, different communities, what
is happening for second that that can affect all the markets and all the
coins, what is that strong?
If you do not have a clue, please restrain yourself from commenting.
I would like to see and read answers from people who might know
something more, thanks in advance.

It's actually a good question.

I don't have a definitive answer, but my theory is that the market is controlled by a small group of people, with tons of bots, and they're coordinated in a way that makes most cryptos change in the same direction, at the same time.

Red-Apple

hero member

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it has always been like this. sometimes you shouldn't look for "logical" explanation in the market and you definitely should look for it in altcoin market because it is a side market not a the real deal, something like Penny Stocks.
and because of that it will never act alone. altcoin market will always be affected by bitcoin:

Code:

bitcoin up: altcoins down
bitcoin down: altcoins down again
bitcoin stable and sideways: altcoins pump.

Beerwizzard

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Merit: 148

The general FUD was caused by the problems of Tether and Bitfinex (they both have the same prople behind them). CFTC have sent subpoenas to their CEOs in order to investigate the resent issues with tether. Tether is suspected that they were lying about the reserves they should have to back their coin. Tether claims that everything is fine but they can't uncover the full information because they are still investigating how they were hacked some time ago. They also had some problems with the audit with their company which makes the situation even more unclear.
As far as the banks usuallu do not support cryptocurrencies USDT was a popular thing where traders could save theyr assets while the markets are falling down, make some USDT transfers between eschanges (USD transfers are ofc unavailable) and many other things.

DanWalker

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Quote from: bitor on February 02, 2018, 06:16:40 AM

In fact, the entire crypt is related from one to another. Cryptoworld is one and reacts to various news about the crypto currency very symmetrically. And soon there will be a New Year in China, and therefore about the crypto-currency fell in all the last years, so, it was expected.

I don't think it's related to Chinese New Year somehow. I suppose that the main cause is Tether. A few days ago even Bittrex said that they are going to change USDT to USD.

sparg

full member

Activity: 280

Merit: 110

This is my theory:
The market attracted last year a lot of new people intro crypto investment. You can see this by the sudden growth that happened in the last two quarter of 2017. They where excited by the proffits got from succesfull ICO (and they were a lot) and the big growth of BTC, ETH, LTC.
The problem with a market grown by the actions of newbies is that they panic sell in mass. The normal correction that happens every year in Jannuary combined with a well planned FUD done by some groups who whant some discount prices made this collaps. The total market cap is almost half than december 2017.
Now this is a domino effect and till all the pannic seller stop we cant do nothing than watch and HODL.

bitor

member

Activity: 210

Merit: 10

In fact, the entire crypt is related from one to another. Cryptoworld is one and reacts to various news about the crypto currency very symmetrically. And soon there will be a New Year in China, and therefore about the crypto-currency fell in all the last years, so, it was expected.

Bezobraznike

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How it is possible for all of them to go down? I can not find logical
answer. If they are have different chains, different communities, what
is happening for second that that can affect all the markets and all the
coins, what is that strong?
If you do not have a clue, please restrain yourself from commenting.
I would like to see and read answers from people who might know
something more, thanks in advance.

Topic: Can someone explain me why all of them are going down? - page 3. (Read 513 times)