There might be a few speculations why the price of altcoins has gone down but I repeat they are only speculations.
It may be funny at first but it was a holiday period and this period there is a lot of spending so it is a pretty bad time for savings and investments and many are withdrawing everything that gained in the year behind them.
On top of this, the money taken from the Mt. Gox fund as well as the investigation and raids at the Chinese exchange UPbit have complicated even more things in the cryptocurrency market.
Also, crypto traders might have just temporarily destabilized the Bitcoin market. Bitcoin is very important for the entire cryptocurrency world and it serves as a standard for all other coins how they should be measured. So whether we like it or not, every altcoin is riding on the tail of the Bitcoin’s success.
And maybe even there is some truth in the all bubble talk that many have been warning us for months. But, it is pretty unlikely that this is a sign of a ‘’crypto winter’’ because we have already seen a couple of times a similar degree of volatility on the market throughout 2017. The only difference is that we have more participants on the market and a lot of them have no experience in navigating this type of market.
The big question is – are you confident and prepared for new gains?
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