Quote from: Oasisman on June 23, 2018, 11:29:41 PM

Quote from: deadsilent on June 23, 2018, 11:08:08 PM

Quote from: silverleafy on June 22, 2018, 12:12:31 PM

Hello, do you know why today is another big drop in crypto market?
What is happening? I thought that there will be positive trend because last day were green.

Maybe market just reacted from the recent FUDs which was the hacking of Bithumb and the questions about Bitcoin's legality worldwide and many more. Huge capital was pulled out from the marketcap causing Bitcoin falls down to $6100+. This is not new to me. I think whales are manipulating Bitcoin to scare investors and sell their Bitcoins so they coulld get handful of Bitcoins. Some analysts predicted that Bitcoin could rebound to this price which contrary to what markets movements and it makes investors lose trust to Bitcoin and i think it's a possible reason why Bitcoin dropped $700 of its price. We all don't know what's the reason why it drops hard.

Due to the recent Bitthumb hacking, the market have lost $17billion and it greatly affects the prices of altcoins like Eth and EOS to be specific. Bitcoin are also reacting due to the huge sell out of these alts, adding also those people who dumped their alts due to a worse bear run.

That is such a big amount of money and it can seriously gives a big impact to the sudden drop of the cryptos. Mostly coins are now in bloodbath so let us not be panic about it and what we should do for now is to buy some coins while it is still in undervalued.