BTC down on 12'500
ETC, Ripple, IOTA all down more than 30%.
Whats going on?
thanks
It is only a temporary price deep in the major coin; bitcoin which is presently having its toll on the altcoins. This dip is expected majorly at this point of the year where they will be a major transfer into the fiat values. I also believe this that it will help correct the bitcoin price and also fix space for the growth of altcoins. As long as bitcoin is given the stage alone, no other coin can really have a significant value. Some of us are really waiting for the bitcoin dip so as also help with the altcoin rise in value.
I would say that it's normal because every market trend and movement that happens with altcoins are mainly affected by bitcoin, being that it is the "main" coin and the big gun that controls the highest value, market, and interest among others. It has been affecting altcoins negatively since it started its surge last November, and I think that as the price of bitcoin neutralizes, it would be a good time for altcoins to improve in value if the developers see fit to pump in their coins. Also, it is quite normal for something that rises to experience some drops at some point. No asset, even gold, oil, fiat money, and all others in the market are immune to any negative movement that would affect it's price to drop. But, like most replies say, I think once bitcoin adjusts, it would regain its strength back like what happened before.