I think the altcoin market was pumped by Chinese whales, and now they are dumping it to make money before their New Year holiday. They pump it every so often, and I don't think the state of bitcoin matters to them when they pump. They completely manipulate some altcoin markets.
Altcoins..pumped by Chinese Whales?
c'mon man...10 BTC worth of trade is enough to pump some of these Alts 1000%. BTC 'whales' aren't pumping Alts.
you need some more for the top altcoin, for the top 10 at least, 10 btc will not do anything
so yeah maybe some small whale is pumping the strongest altcoin, while bitcoin faces some stagnation
remember that money always moves, if you see stagnation in one place is because they are on something else
Ybcoin had over two million dollars pumped into it, and it only had that volume on Yuanbaohui and BTC38 which are both Chinese exchanges. Now the buy orders have built up its being dumped, its already lost half its peak value. Anyone with over two million dollars of bitcoins to pump a coin with is a whale in my book. Those same whales probably also speculate on bitcoin when its volatile. As you say money always moves.
