virtually all the alt coins are linked directly to the value of BTC, so when BTC goes down the value of all the alt coins goes down.
I wouldn't describe this as dropping like a dead rocket, remember the price of BTC right now is way up from just a couple of months ago ($160 or so in October), and nearly 10x the price in June/July.
So anyone who got in recently, like at the $1000 level, yeah they are seeing a huge price decrease, but for those of us who have been involved longer, its still way up, just a correction from all the greedy people in China who were trying to cash in.
Unfortunately I wasn't involved when the price was at $12, just last January.
I wouldn't describe this as dropping like a dead rocket, remember the price of BTC right now is way up from just a couple of months ago ($160 or so in October), and nearly 10x the price in June/July.
So anyone who got in recently, like at the $1000 level, yeah they are seeing a huge price decrease, but for those of us who have been involved longer, its still way up, just a correction from all the greedy people in China who were trying to cash in.
Unfortunately I wasn't involved when the price was at $12, just last January.