You are viewing a single comment's thread from:RE: Musing PostsView the full contextkadipe (48)in #musing-threads • 6 years ago What caused the decline of most cryptocurrencies this past weeks?
I think it was the rise in the price of bitcoin. The second BTC started surging, everyone started dumping their coins for BTC.
I personally believe that what causes the decline of
most cryptocurrencies this past few weeks is the decrease in demands of most cryptocurrencies,the less
demands a cryptocurrency get the lower its price would be, bitcoin market irself controls many other
cryptocurrencies and that is why when bitcoin declines then many other cryptocurrencies will decline too
because they mostly follow the prices and acitivities of bitcoin....
When there is poor demands of a cryptocurrencies it would definitely make the price of such
cryprocurrencies to become bearish because there will
be more supply than demands and that would force the price to go down to enable increased
demands,damands and supply works together on the cryptocurrency market to determine the bias of the
market...so less demands made the many cryptocurrencies to have a decline in price at the market....