Altcoins prices are bleeding heavily, with some of the top-20 coins showing losses of more than 34% on the day.
The most popular altcoin Ether (ETH) has dropped over $50 in the last 24 hours to a price point of $156 per coin, recording a heavy loss of 24% on the day.
https://cointelegraph.com/news/tuesday-shows-bloodbath-for-altcoins-up-to-34-losses-on-top-20-coinsdo you think this down market will continues and welcome back to the bears in crypto market again ?
or this is only the preparations if the market will growing really hard and the bulls will show up in the near time ?
The altcoins market is bleeding heavily due to another market correction in the market. Maybe after some time a week or two the altcoins market will stabilize and we should wait for the altcoins season to come. Altcoins seasons normally follows after the bitcoin season.
Altcoins easily correct because bitcoin is not yet stable on its movement, during the pump which happens in just one day, we've seen how altcoins have already increase that day but now they are slowly dropping again as bitcoin just stable at $9K.
It has actually bleed heavily a year ago, not slowly theirs still some bleeding and we are not seeing some significant growth anymore.
This is the time where we need to stay patience and hold strong.