Pretty obvious alts were pumped in coordinated fashion yesterday, then sold systematically. This was coordinated with the release of some rather pointless news about a certain investment fund which ushered in the public to squeeze maximum saft out of this lemon and lead to a simultaneous drop of the alt market and a corresponding pump of BTC.
Who is doing this you may well ask. People with more money and information than me. Is it wrong? Who is to say? Does it harm ordinary market participants. Yes. I saw some of my profits slashed by 25 % yesterday. Others may have bought at the top based on my general (mostly crappy) advice/recommendations (go OmiseGO!). They'll have to hold the bag a while, it's a lesson maybe.
Who is doing this you may well ask. People with more money and information than me. Is it wrong? Who is to say? Does it harm ordinary market participants. Yes. I saw some of my profits slashed by 25 % yesterday. Others may have bought at the top based on my general (mostly crappy) advice/recommendations (go OmiseGO!). They'll have to hold the bag a while, it's a lesson maybe.