Did you notice that from some hours, the price of alt coins are on a free fall. Dash is at 90$ per coin, Litecoin is at 100$ per coin and bitcoin cash is at 280$. So much drop, can anyone say why they are dropping?
Why is the price of alt coins are falling?
- Thread starter REPLICA
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There was prediction that altcoins will soon drop again sometime ago and I guess the prediction is coming true. The crashing maybe caused by dumping because Christmas is near and investors might be selling them to also celebrate.
As the physical markets are closing down for the festive period, its going to affect all investors and investment as everything will lay low. I see all the alt coins rising above expectations later next year. Just be sure of the coin before you invest.
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People sell the altcoins through exchanges like Coinbase, Binance, Primexbt, etc… in order to take out profits in bitcoin. Therefore the price of Bitcoin goes up, while the price of altcoins goes down. The opposite happens too in some cases where money from bitcoin flow to the altcoin space.
It is because of market trend that the price of such coins is falling. Every type of currency follows the market trend and its trend is due to its trade. If less people are interested in a Particular currency then its price falls and vice versa.
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Yeah that might be the cause but that was unexpected . Suddenly it started to fall so fast. Hope they return to their previous position soon. On the other hand, bitcoin is still roaming around 23k. Can anyone say me why?
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Yeah I know that but how come all the price started to follow the trend of falling except for bitcoin. Bitcoin is still roaming around 23k. Which is pretty surprising. Bitcoin was the coin which was about to fall. Instead altcoins started to fall.
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The fall of a coin is brought about by there being a higher supply of the coin than a demand and therefore it is an indication that there are many with these altcoins that are selling off their coins, and as such the price is dropping. I have personally noticed however, that the price of altcoin such as litecoin and dash are highly tied to bitcoin price and a reduction in bitcoin price often shows a reduction in the altcoin price as well.
It fall so fast that you wouldn't even know.i my notice that the alt coin are like dash I think that should change
Your observation is quite right and I have been wondering about the explanation behind that. I would think that people are really selling off so their prices are dropping. I guess the year end is bringing about such sales.
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I believe they are all controlled by bitcoin network, since bitcoin have been having is bullish, every other coin have been surging high.
The reason why the altcoin are falling is simply because lots of investors are withdrawing their funds from the altcoin to take care of the Xmas and new year.
The reason why the altcoin are falling is simply because lots of investors are withdrawing their funds from the altcoin to take care of the Xmas and new year.
It's still around that market, but it is also falling, just not as fast as the other alt coins.
I plan to buy some when the price drops further, I hope and believe it will rise even more next year.
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Yeah I am pretty positive that though it is falling now, it will soon go for rampage towards their year highs. We may see new year starting with higher price than this year. And they are giving investors opportunity to invest at the turning point.
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All i know is that the fall and rise of cryptocurrency depends on the market forces of demand and supply, when people are majorly selling off their coin, the price of that coin goes down but when they are mostly buying then the value of the coin goes up.
For years, there has tended to be a statistically significant correlation between the performance of bitcoin and the altcoins: whenbitcoin rises or falls in price, most altcoinstend to do likewise.
The price of altcoins will continue to drop if the only reason people hold altcoins is to make profits and not as a form of exchange or payment.
So as people rush to sell, the price goes down and down....
So as people rush to sell, the price goes down and down....
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Yeah that's right, some investors lost their interest on investing on these altcoin. This also might be due to Christmas tomorrow. Let's hope they starts the new year with a bull rush.
Altcoins volatility is also driven in large part by varying perceptions of the intrinsic value of the cryptocurrency as a store of value and method of value transfer. A store of value is the function by which an asset can be useful in the future with some predictability. A store of value can be saved and exchanged for some good or service in the future.
It was believe that altcoins might uproot bit coins due to widespread knowing of altcoins but that wasnt happend.the main factor is buying and selling of coins when there is hogh demand of buying coins the value is rise when it is mostly sold by people the vise versa happens.
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- #19
I think altcoins are not so popular as bitcoin as they are very large in number and few people come to know about them before bitcoin. Altcoins are much volatile and people don't get much interested to invest there.
I have observed Litecoin on about $124 for mor than 24 hours now and I can't really determine if it is going to decline further or start rising again. Bitcoin cash is not doing badly though, since it is still over $300 currently.
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