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?
Its high time to get used to the fact that altcoins react to any movements on the market in this way. Personally, all this doesn't surprise me at all. At the end of each week, I simply look at all the currencies and evaluate their market position. Therefore, I know well that even if 100 coins fall in price, there will almost always be a coin whose trend is upward.
But in general, a constant and steady growth of altcoins can be seen only during the altseason.
We rather look their long term movement, let's say one month and see how much they rise or dropped, because if we look daily, price could only go sideways and that's normal in crypto since the volatility here is very high.
I can understand some traders showing their frustration because they are new here but they will start studying the trends, they'll eventually understand, it's actually all about learning and experiencing to fully understands the market trends and that will help us make the right decision. Just like BTC, it sometimes dump but always bounce back, so if people panic, whales makes money, and they love that, easy money in short term.
Of course, every day there is no point in viewing all altcoins. But lately, I do it once a week. And this is already yielding results. Of course, in an ideal situation, you can do this once a month by investing a large amount of money. But the last year was not so good in terms of earnings, so it was necessary to become flexible. That is why I look for suitable coins more often but invest in them a much smaller amount.