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Comment by danmaz74 | Hacker News Reader

For now it's just a rather small correction, keeping in mind how much they had gone up in the last 60 months.

On the other hand, the uncertainty with Bitcoin's Segwit activation, possible chain split etc won't help in the next few weeks including August. It could make the bubble pop... or not.

What's weird is that coins that have already adopted SegWit, like Litecoin, seem to suffer even more than BTC during the dips (even if LTC was the best alt during the one since yesterday).

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Yeah, the theory that people would be moving money into LTC when the BTC potential split approaches doesn't seem to be holding, at least not yet.

For now, the main theory, that all altcoins, including LTC, take their value from BTC, and react based on BTC's movements, seems to remain true. When people lose trust in Bitcoin, they lose even more trust in other cryptocurrencies, in aggregate.

yes actually it's like playing with leverage, I notice that every 2% move from BTC can results in 10% or more movements in all other coins

I can see that almost 50% of blocks are generated with SegWit support. In a few weeks it'll be more than 50%, unless trend drastically changes. Does it mean, that SegWit won and Bitcoin is safe?

SegWit needs 95% to be activated, it's not even close.

uasf.co will try to force SegWit activation. And we'll see what'll happen, and will there be economic majority or not to force SegWit activation, and how many blocks [and transactions] will end up orphaned.

30% is not a small correction. Per definition, anything that is down more than 20% is in a bear market.

Maybe in normal markets. In the cracked out world of cryptocurrency it's just another day of trading.

Over a two-month period, usually. If the price shoots up from here (and that would be pretty normal for btc, etc), then it was just a correction. It could also drop another 50% from here. cryptocurrency markets are nuts.

Yes, they're nuts. And that's so because they're so small, relative to fiat markets. So it doesn't take much to push relatively large amounts into them, or drive them out.

But whatever. I just use Bitcoin because I can easily make it as anonymous as I like. Price spikes are sweet when they happen, and crashes can be an inconvenience. But that's just what's so.

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