Crypto price spike in January, why?
 

Hi

I have been looking at a lot of cryptos and almost all of them which were just a couple of pence all shot up in price during Jan this year. Does anyone know why so many cryptos went of in this time period, here is an example: https://coinmarketcap.com/currencies/stealthcoin/


Thanks

B

Mid December/ early January was the peak of Crypto so far. Everyone wanted in and created a bubble. Since then the bubble has burst and the price has corrected itself.
They allgo up because they are all indirectly tied to BTC.

So you mean it hit the news/mainstream and then everyone started jumping in?

How can a bubble only last a couple of months?

Lots of pump and dumping was going on...

Maybe bubble is the wrong word. In any event it's not necessarily finished yet.

A bunch of people with money jumped into the market buying shit they knew nothing about. Buying up shit , even shit coins, causing the prices to rise

Prices started to go down and they panicked and sold off like scared bitches
"The sell-off came amid concerns of fresh crackdowns on virtual currencies by the South Korean and Chinese governments"

I'm HODL and riding the pump and dump waves to make some easy money

So is this craze over, or is the going to carry on?

Apparently NVIDA and AMD think the cryptro market will collapse soon and then theu need to prepared to go back to normal sales demands.

the red line of doom OP...the red line of doom...when the line is crossed then its safe again...

Add into the pump and dump that was going on is how, when this spike came around, governments started talking about regulating the exchanges and that caused fear in the market.

the crypto communities seem to be a tight group of people who believe in the crypto currencies. I don't see crypto going away unless the government out right bans it. I wouldn't keep buying on the dips if I thought it was over.

I'm sure there will be more ups and downs. And when people hear regulations and other government crack downs they will panic and sell. I'd be surprised if there are no regulations on ICOs as more and more scammers are creating them

idk but most of them went down