Is it because of the large number of altcoins?
It won't be affected by them. The common thing that really have a huge contribution for this dip is the issues of regulating all exchanger and Mt .Gox members that are selling their btc in cheap price. If all of thesE will be done, then we see a bright side again.
Totally agree. There is no point that altcoins affect the price of bitcoin. Bitcoin can only be affected by the whales and altcoins are controlled by bitcoin. The lower bitcoin is, the lower altcoins are.
well, but I do not think that all people are selling bitcoin with the cheap price. Whales are selling their bitcoin in order to collect more bitcoin with a cheaper prce