Price is dropping, any idea why?
Because coin isn't relevant anymore.
Some guy just bought like 2 million of that "irrelevant coin" there, by the way, moving the price by a mre 6% - almost all other alts would be instantly like +100% or more on that alone.
This. I use an app to monitor my coin portfolio which I have set to display everything in a fiat equivalent. Means there's never even a moment of irrational panic when there is a sudden change in price. What someone else sees as a decrease from 7400 sats to 6700 sats... I see as an increase from .025 to .028! Naturally that's only if there is a larger change to the upside in BTC, but as is usually the case - the BTC move is larger than the BLK one in the opposite direction. Not that I plan on converting my BTC or BLK to fiat anytime soon (if ever) but still it helps to understand how meaningless a move independent of the larger (BTC/CNY) markets are on the other side of the exchange.
Until at least some coin (even if just BTC) is an option for payment everywhere and for everything that fiat can be exchanged for... it's better to understand the exchange to fiat than the exchange to anything else... because like it or not, it's still a fiat world.
And to be totally honest that technique certainly wasn't emotionally beneficial during the early pump... but it is kinda fun to see a high five-figure gain in a single day. Much less so to see it disappear in the following day. 