I believed it was due to the bearish market .
wrong.
it was because of two things combined: 1. dumps 2. the shitcoins having huge supplies.
when a shitcoin has 1 million coin and gets dumped $1 it loses $1 million market cap but when that shitcoin has 100 billion coins and loses $1 it is losing $1 billion market cap. that is why the total market cap went up to a
fake value in first place during the shitcoin pump of 2017.
What I do not understand is while there is continuous growth of Cryptocurrency, people are picking interest and coming into the cryptosphere and yet the market capitalization is still not moving upwards.
because people are NOT coming in altcoins anymore. in fact they have been existing as the altcoins started dumping on them hard.
What could be the challenge here?
the challenge is having good projects that are real and are created to work as an actual cryptocurrency not just some pump and dump that rises for a short time before it gets dumped on anybody bag holding it.