The entire altcoin sector is expected to fall even further after Friday afternoon’s collapse.
It’s only natural for some of the investors to sell out of the market for a quick profit. However, there’s another reason why some investors have left the market. There’s an established fact… that few coins will be able to maintain, let alone maintain a consistent price, beyond a few days. If the price drops too low, many people will just dump the coin and not bother to stay invested. Not to mention the fact that people looking for real news will be unable to find any… not even with the help of the major news feed sites.
There’s no excuse for people to not invest. There’s no excuse for people to start betting on them dropping. There’s no reason to not own some of these coins because their price will bounce back and again in several days. There’s no excuse for people to spend thousands of dollars they could’ve used just to be sitting on their asses.
As far as I’m concerned, this is a great news for the cryptocurrency market as there are still a lot of big and small investors out there. Even though the price of BTC has dropped 4%. The market as a whole is still up… especially for the smaller cryptocurrency coins like Dogecoin, which have lost as much as 8%. The price of Litecoin was also under 5% over the same time period. This puts it much more in line with the market as a whole, with the altcoin market all over the place. It’s not all doom and gloom for Crypto, if you want the truth.