Quote from: adaseb on August 15, 2019, 06:16:10 AM

I am assuming this is due to that Chinese Ponzi where they were sending funds to various exchanges and selling their Bitcoins and Ethereum. Reminds me of the BitConnect event which is what caused BTC to peak at $20K and go down to $3K a year later. Hopefully this won't be the same situation this time.

Nah. People always try to connect dots but that's just how they are. It helps whales unload a portion their bags to take off some risk without being called manipulators, because now people have pointed their attention to this ponzi scheme and blame them for the decline in the price.

XRP is actually quite an interesting coin to follow when it comes to measuring the sentiment within the crypto market. It has been slaughtered before Bitcoin and Ethereum hit their daily lows, and that while XRP is usually not as volatile as other cryptos in both the up and down directions.

Poor altcoiners. They believed that when Bitcoin would take another hit the altcoin season would start, but it seems that smart money isn't sharing the same opinion.