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.
- 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.
Sounds about right but i pay little attention to market prices.
The reality is a lot of people showed up buying far too many different coins inflating prices to obscene levels.
I kept telling these guys unless the crowd showing up continues to keep growing it will slow and crash.
Looky looky.. guess who's right again ?
The new guys here have not had the pleasure yet of getting a Spoetnik "I told you so" yet
There will be more too
Idiots fail at basic math.
It's a bandwidth issue..
If you don't have a larger and larger mob of new users running in here you fail.
So it's like they have to keep doubling each month to sustain the prices.
Or buyers dry up and the prices stall and tons take their profit which shifts momentum..
Then the recession ends up smacking idiots hard.
Want to guage coin prices ?
Simple keep tabs on how many new sign up's are happening at exchanges.
Some people find your comments stupid Spoetnik, but I diasgree with them. Here your post is really constructive to address the problem with the current market.
Lots of people are crying every day and the reason why is that they enter the market without having any knowledge of crypto currency and market.