Sorry, but I'm drinking in front of my computer and cheering that we break resistance. Go BTC go!....DOWN!!!

Not sure why you think I'm "suprised" at this.

So, the following coins are more or less Kucoin's "flagship" coins, meaning that they are all primarily traded there and Kucoin often has all kinds of promotions around them: KCS, DRGN, DBC, RPX, PRL, QLC, SNOV. If you look at their graphs, they are all going through basically an identical dip (with DBC dipping even harder because of the Huobi contest). Same for coins like AIX that got only recently added to Kucoin. Does anyone have any insight on what exactly is causing this?

Some possible factors:

-All of these mooned hard before, so a correction was coming at some point obviously, it's just weird how it's happening to all of them in an identical fashion

-Did the Korea FUD from last week scare people off? A bunch of Kucoin's customers are Korean right?

-Are the China news from yesterday scaring even more people off?

-The bitcoin diamond scam thingy?

-The annunciation of KCS "rakeback" going down from 50% to 15% in March --> is this maybe causing people to move away entirely from Kucoin and thus also abandoning their other coins that aren't on Bittrex/Binance, aka pretty much that whole list?

-General altcoin blood everywhere (just take a look at cmc right now)

Those are all the reasons I can think of, and they've all happened over the last 5 days or so, which makes the dips pretty sensible to me. I bought a bunch of everything today with basically everything being at a 50% discount and now I'm balls deep in Kucoin stuff. Must have been a fairly +EV play, but I'd love to hear if there are other reasons behind the mass drop of Kucoin coins and how people think they'll fare in the future


Here are the graphs of everything on Kucoin, feel free to compare yourself. DBC is even more brutal because of Huobi price manipulation and fake sellwalls because of their dumb competition:

KCS DRGN RPX PRL SNOV QLC DBC


It's obviously not exactly news that coins that mooned dip, but the synchonization here is what's super weird, not to mention that these are all super legit projects which should be a lot less volatile than most coins.

Thoughtful post. I think most of those are interesting plays at such a discount. I'm heavier KCS than the others. I chalk up most of this as money flowing to BCD and some of the blue chips like Ether and Monero. It has always flowed back in the past.

duh, they are all highly correlated. because they were all pump and dumped up through the same exchange.


Now that its "going down" you're understanding that because you're storing your wealth on an alt/btc or alt/eth pair you own whats effectively a derivative of eth and btc. So when btc or eth go up/down, your alt coin is going to be highly correlated to that directional move.

tried 200x to explain it to you guys, but its clear that until there's a massive down spike, or terrible 6month bear trend, you guys won't understand what you exactly own.


nothing weird is happening. Other than the marketmaker on btc/usd on finex having complete control of the crypto market right now.

I have no idea, but is this related to your above statement:
https://www.youtube.com/watch?v=-pU8hXTpjng&t=0s

No not even close.

Anyone can have a hidden order.

You talking about tether??

I'm not thinking in USD terms at all, just look at the coin/btc graphs I linked. The yellow line is the only one I even pay attention to. Obviously stuff goes down in USD based on btc/usd moves. I was specifically commenting on how they are dipping hard compared to other alts/btc as if they're synced to each other. I guess what I was trying to ask was if there's something else going on Kucoin that I didn't mention above. All their new coins are suffering as well and dipping big vs btc/eth, without ever having been pumped before. To me it just looks like everything on Kucoin is super fkked, as in significantly more than stuff that's on other exchanges, even plebby stuff on Cryptopia, and I can't fully understand why.

Sighs...

I'll play nice. Yes my understanding of what I "own" is roughly "I own a bunch of invisible coins, and possibly a lambo one day". I roughly understand what you're saying, and my lack of deeper understanding is exactly why I'm not deep in crypto and don't intend to be. But the part you failed to answer from your ivory tower is why these specific coins in this specific exchange act different from comparable coins on other exchanges, and why they started dipping synchronized at the exact same hour, days before today's bloodbath. I was not panic posting like zomg why is stuff dipping, I've been buying those dips all night. I more than understand the general downtrend but from what I can tell you only addressed why alts are going down in value in general right now, which is not what I was asking at all. In case you addressed my actual question and I just wasn't educated enough to understand it, please alter the language for us mere mortals

then you answered your own question

Even if it is a winner for you, by the time people have seen your post, and act on it, it will likely be a huge loser for them.

I've been following a bunch of the ponzis that have come out (Etheremon, Ethertanks, EtherRacing, etc.) and the profitable times to buy in for those have been about first 6 hours, first 4 hours, first 2 hours, respectively.

+10000

Selling ICX is seriously ******ed

It's getting ugly.

Haven't seen a bloodbath this bad since I joined the market. Wrath of the Aggos finally taking place?

+1 for holding ICON.

How much do you guys offer if I sell some things for tether to immediately stop the crash?

I'm guessing it's gonna get uglier. I'm hoping after some bouncing around we bottom out at $8k in BTC. It'll probably take a few days at least. Alts are gonna be dirt cheap. Wishing I would have liquidated 100% of alts instead of half yesterday.

Of course what do I know. BTC could be at 15k by morning.

Lol Tron @ .05 and Verge @ .08

all my profits + gone now but idgaf im just gonna hold and prey and if i lose what I invested oh well @ least I took a shot.

I'm losing approx 1k per minute XD

still not as bad as losing it yourself via poker, not nearly as aggravating.

Very true, and it's all freeroll as well. If it ever gets all the way down to my initial investment then I'll be a sourpuss about it... Would take a lot, even from here.

When the writing was on the wall but you were too greedy to follow your own advice.

That's good to hear.
I got in late but at least before the post holiday upswing