Unfortunately what you're saying is true. Most people still think if bitcoin goes up and down all other have to as well. They think alt coins connect with bitcoin. We need more educated investors ASAP so this type of action stops.
That is proof that we are trading on market psychology and not trading these coins for what they are worth. Now that we are through Chinese New Year, U.S. Holidays we expect cryptos to get some bullish action again. Don't let profit takers from this week scare you off, be one next run up.
There always has to be a reserve currency. If we start to tie ever altcoin to the USD or some other Fiat, doesn't that defeat the purpose of what blockain was intended to do? I think once there is mainstream adoption and some form of regulation you'll stop seeing these swings across the board. A good stable reserve crypto is what is needed but, I think that is a long ways off.
yo are 100% right,i m agree with you,Thanks for sharing the the post that would help the steemit community.I like your posts so much that I always wait for your post and with your post attention Podium
I thank you very much
You are right , it my thought too @davidgermano
Unfortunately what you're saying is true. Most people still think if bitcoin goes up and down all other have to as well. They think alt coins connect with bitcoin. We need more educated investors ASAP so this type of action stops.
Indeed @jason7282
That is proof that we are trading on market psychology and not trading these coins for what they are worth. Now that we are through Chinese New Year, U.S. Holidays we expect cryptos to get some bullish action again. Don't let profit takers from this week scare you off, be one next run up.
I don't scare easily :) I agree with you when you say that the psychological factor is one of the handicaps of the cryptomarket ...
Cheers!
How much of this is the power brokers desire to make crypto's look to unsafe to trade in?
Maybe it's one of the explanations ... among many others.
Cheers!
There always has to be a reserve currency. If we start to tie ever altcoin to the USD or some other Fiat, doesn't that defeat the purpose of what blockain was intended to do? I think once there is mainstream adoption and some form of regulation you'll stop seeing these swings across the board. A good stable reserve crypto is what is needed but, I think that is a long ways off.
Maybe @clshipp91... we'll see!
But still, I think altcoins should not be so dependent on bitcoin. It doesn't make sense anymore...
Cheers!
yo are 100% right,i m agree with you,Thanks for sharing the the post that would help the steemit community.I like your posts so much that I always wait for your post and with your post attention Podium
I thank you very much
Thanks for your kind words @noorijaz
Cheers!