I just came back from work now and find out that all the altcoins are in red except few one. I did not know what is really happening and I think traders are dumping for some reason. Is there any fundamental reason why altcoins is getting dump again?
It is simply because investors are fed up with alts being stable or always falling. they abandoned the market and sold it off.
the market dropped more than $ 12 billion in just one night and that shows the psychology of the crowd is very bad.
But we still need to keep calm and choose the good alts to buy and hold it.
I am not sure that this is completely true of this, I agree that investors are fed up with altcoins but not all altcoins that we have in the market, when I count altcoins, I mostly count the top altcoins in the market, I mean those altcoins that are within the top 100 in the coinmarketcap, they have real working product and are very useful to the community but the reason why they are down along with the rest altcoins is just because of the new trend that became popular among investorof selling their altcoins temporarily to invest in bitcoin since this is the dominance time of bitcoin which we have all seen, so altcoins will be back to their position soon was bitcoin stops dominating the market.
Altcoins will start increasing too and I know that investor will be encouraged again.