I have made an experiment. I was checking the CMC information every hour for the whole day, and during this time, most cryptocurrencies managed to change their "color" several times. It is extremely difficult to catch the right moment where to trade if you deal with day trading. It has become too stressful.
Nobody stands behind these fluctuations: traders behavior makes these corrections often.
These market swing is indeed quite complicated to understand, besides how china-US trade war take a big impact.. I'm sure the confusion in-between makes most people prefer to cash the money out with the current uncertain situation.
I do get a huge loss by trading on ethereum and litecoin, not even an arbitrage works this time. Everything seems moving on opposite direction.
I thought since few weeks ago it was a support stress testing , a correction. It seems I'm wrong now. The bear rally is happening...