Till yesterday it felt like we are going through a repeat of 2017 but all of a sudden it's dropping down, what would have caused this dump? Is it related to drop in the value of Bitcoin or else some other reason like whales cashing out ? I feel it was a temporary correction which took place after altcoins went bullish especially XRP and XLM which gained over 100% in last one week.
Because cryptocurrency prices are still very volatile, This is one of the reasons cryptocurrency prices are difficult to predict. With limited liquidity in the cryptocurrency market, price fluctuations occur very often. Just look a few days ago, the price of cryptocurrency has increased tremendously, so that makes some people assume the beautiful story of 2017 have repeated itself. But you don't worry about the current condition, the correction is only temporary, because the altcoin season has just started.