Bitcoin is on a reversal. Price is coming down gradually, at around $14,000 at the time of writing. There are two main considerations. One is the latest Bitcoin price run, though astronomical, was pure craziness. The other is that it's weekend. We generally see red on the weekends.
At the moment, it's all bears
Bears have entered the market and are driving prices down. There's hardly any green (I will show) on the Coin Market Cap website. In fact, only 7 coins are in green and one of them is USDT; so we can say that only 6 coins are in green.
First, look at the top 25 coins.
You can see that everything is red and there's up to 26 % fall in the prices of top 25 coins. The only thing green is USD because it holds its value equal to $1 (a strict peg which has been broken by 3 cents at the moment). USDT is being discussed as controversial investment owned by Bitfinex but not having the equivalent amount in USD as backup. It's a serious thing but not the topic of this post.
So we move on to the gainers. It's just a small list with some good coins in there. No Steem or SBD there today. The craziness is over I think.
Just 6 coins and USDT on the list of gainers
The fall was imminent though. We were expecting a correct after a big bull run of Bitcoin in particular. Altcoins suffer again due to Bitcoin's volatility though.
Bitcoin goes up rapidly, alts go down. Bitcoin comes down, alts go down. It's a paradox.
The most interesting part of the discussion is; what prices will look like towards the end of this bear market? Bitcoin and altcoins are falling alike and it means there will be an opportunity to buy low before the next bullish movement. To have a clear picture, you'll have to keep an on the charts, market cap website and crypto news.
I hope that your existing investment recovers soon. And I hope that you buy coins with great future gains at good prices in the bear market. Whatever you buy, do your complete research and always have a target in mind whether it's short term, medium term or long term.
What coins are you going to buy in this bleeding market?