Why is more than 65% of Crypto currencies Falling?


What is happening in the crypto market reminds me of a saying which says, if you put a rotten apple in a basket full of good apples the rest of the apples will be rotten. If you have noticed whenever big crypto currencies like Bitcoin or Ethereum are bullish then the rest of the crypto market will be bullish.

Whenever Bitcoin is going down, it drags most of the cryptos with it and they just become the victims of the circumstances.Why does that happen? There might be some reasons to this .

What could that be?

  • Bad publicity on the Big Crypto currencies
  • Tokens created out of another crypto currencies
  • Market correction

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Whenever there is bad publicity on the crypto market then it affects everything. If a certain country bans Bitcoin then there are chances that investors will become skeptical and starts to see crypto currencies with another angle and this affect the market and the market will respond by falling due to investors withdrawing their investments. Even if a currency is blacklisted as a method of payment it might affect the others.

If a token is created out of another crypto currency and the smart contracts, when ever that currency falls then the tokens which run on their blockchain will surely respond  by falling, e.g if Tron falls then BitTorrent will fall and if Binance falls then all BEP tokens will fall so as the ERC-20 tokens falls when Ethereum falls

When the market moves either up or down, the correction will follow. If market correction doesn't happen then the market will surely crash and some currencies will be devalued so the market has to correct itself.

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Defiant Pathfinder
Defiant Pathfinder

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Defiant Pathfinder
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