I am observing the Coin market from last few weeks and the moment market is in decline and every moment all the coins are in decreasing trend even Bitcoin is in between $2400USD ~2600USD but all other coins price are decreased to 30% to 50% and still is decreasing . I don;t under stand the actual situation but in my opinion it is due to
large number of coins through ICO or presale bonus or bounties.and i hope the market will become stable in last week of September as in October maximum ICO will end and the investor will again divert to major coins and no doubt ETH and BTC price will go up which will positive sign of market stability.
What are your opinions?
Lets hope it will soon stable and all investor be happy as maximum investor are in loss and worry about current situation.
Perhaps people are losing some faith in cryptos. They see all these scam coins, and they don't really understand how it works or how it can be sustainable. Like, do you really understand Steem and Steemit for example? I don't. Not all of it. One could think that people would sell their alt coins for bitcoin, but bitcoin seems to be falling too. It could be due to 1.august, but it could also be an element of distrust in general. There has been a lot of hype lately, so we might just see a huge correction.
You are absolutely right small investor are more worry as they don't understand the actual market situation and about all coins specially scam coins.so lets see what is next future of these coins and how Bitcoin play its role to come out from current situation.
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Thanks alot
I hope so too, this really is strange....