No, this is not the start. the start happened a while ago (mostly about a month ago) where the first drop from top began. now you are just seeing that same process at a higher speed.
- at first the whales dump and the rest of the experienced traders follow by selling and getting out. at this time newbies become back holders.
- then more newbies come in and start buying thinking they got lucky to be able to buy "cheap" altcoins.
- then more dump happens and the second group also becomes bag holders.
- the final step before the doom is now. when another dump comes and all the two previous bag holders give up hope and start selling their bags contributing to an even bigger dump. some people call this panic sells! but in case of altcoins i like to call it a late awakening.
I'm a newbie since may and this is so right...
I did already left the ship (break even).. First I went from altcoins to LTC and BTC but I sold this as well for USD... Do not have the balls to HODL..
IMO this going a lot further down and there will be a way better opportunity to buy in again then just holding.. Should not have listened to all those bag holders and sold the whole portfolio when I had the feeling a couple of weeks ago...
Oh well... It's been a good lesson...