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[AudraMiller]

Yesterday the price of cryptocurrency dropped drastically would some of the cryptocurrency coins even showing a double-digit percentage decrease in the value. This was caused by a major selling pressure that was seen across various cryptocurrency markets. It is likely that the major selling pressure was caused by the fact that most of these coins were also bought and therefore there was a correction factor that was needed. This however did provide investors with a greater opportunity to buy these various cryptocurrencies and to increase their investment.

 

[Niftyicon]

In my own simple terms, the decline in price of those altcoins is due to the decline in price of bitcoin. As bitcoin picks up again, they would too

 

[Rollerkid]

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[GoldenLady]

I believe this correction has already been overdue. The market needs a period to cool down after such a long run.

This dip is an opportunity to buy, and long term holders have no need to panic.

 

[BullyMaguire]

Not just alt coins but everything except stablecoins ofcourse. Bitcoin from 58k to 49k drop. I also see some small alts rising despite the massive drop on everything else

 

[sagefave]

The selling pressure in the market is the result of investors cashing out their gains, so they take whatever buying bids are available and in the process the coin value falls until the buyers are more than sellers.

 

[achawaskey]

The market speculation favours some investors, while others see it as an opportunity to invest more into there targeted crypto. The overall performance shows that the market is in profit.

 

[Wisdom01]

I think bitcoin price dropped from $56k to $46k and this movement surprised me , but it later regained it's price and move further to $56k i think