Quote from: BitcoinAshley on June 08, 2013, 02:24:36 AM

Quote from: zackclark70 on June 08, 2013, 12:44:24 AM

i think you will find that some of the reason bitcoin price is droping is alt coins are easy to mine and more profitable

Altcoins are dropping too, against BTC and USD. Even the only worthwhile ones, LTC and NMC, have tanked.

Altcoins have been easier to mine and more profitable for quite a while now, IIRC.

Bitcoin price is dropping because investors aren't very confident; a few huge dumps in low volume is all it took to get people scared, and we've never spent any considerable length of time testing $100 or even anything between $50 and where we are now.

Fasten your seatbelts, don't get caught in any bulltraps or beartraps! Cool

Currently ALT coins are only good to trade against Bitcoin. Take Bitcoin away there is no reason to have the ALT coins since they can't stand on their own, there is no solid market to support them.