I just read one thread about the red market "blaming" Vitalik Buterin. I find that laughable.
The real reason is people are starting to bet on BTC again and selling alts even cheap. It always go through this cycle before the alts really take off. Some also use the opportunity to collect more alts later...sell now (high), buy later (low). It can be a good way to play but very risky. I used to do it but learned I don't have the nerve to be in that game.
Play it, or HODL...both are valid ways to go. Just don't panic, bullish market is coming...BTC first then alts (may dip a little but) will follow.
The real reason is people are starting to bet on BTC again and selling alts even cheap. It always go through this cycle before the alts really take off. Some also use the opportunity to collect more alts later...sell now (high), buy later (low). It can be a good way to play but very risky. I used to do it but learned I don't have the nerve to be in that game.
Play it, or HODL...both are valid ways to go. Just don't panic, bullish market is coming...BTC first then alts (may dip a little but) will follow.
I guess you are generally right in your way of looking at the market trend right now. Blaming Vitalik Buterin is a far-fetched idea. It is pointless. The man is a very strong advocate of cryptocurrency and he knows what will happen to the entire crypto market if he begins to go against it. Betting on Bitcoin right now is the best idea since it has lost a good deal of value in the past several weeks. And since it has already began to go up, it is but natural that people will think that the red days are gone and it is time for the green to take place, thus the shift to Bitcoin.