There is a dip now had happened, well it is a good news because another buy opportunity for bitcoins and altcoins. You could see now how the altcoins react to BTC's movements which is why if you are bullish for Bitcoin then you should also be bullish in Almost all altcoins except the ones that really have no use but for pump and dump schemes and we are seeing it in the altcoin markets as most coins really are for that purpose alone because of some unscrupulous people behind such crypto projects that offers dreams but you will just end-up in a total nightmare.
We are now back in our lowest since August 13th when Bitcoin had dipped into around $11,300 levels way back from that date. And as you can see almost all the actively traded altcoins had a mirror image of that price point. So what we have to see now is that if BTC holds this within a few hours it will then be our bottom for this week.
This is a cycle and if you do a simple analysis the price is oscillating up and down. A down coin will not remain down forever, it will always go up but will not remain up with its price. The idea is to sell at the top and buy at the bottom prices where it is regarded as relatively cheap. But for the long-term perspective the prices will just oscillate in the slow upper movement of prices because BTC appreciates with its value and along it are the Altcoins most particularly the major Altcoins with a good use case and solves human problems.
Quite a buy opportunity now because it is just a cycle of investing and taking profits. Right at this moment it is a time for buying because you do not buy at the top, the top of the prices always goes down so it is not good to catch a mooning coin unless you know what you are doing. If you plan to buy your cryptos you should buy when it is cheap but you must as always do your own investigation if the cryptos that you are buying will give you profits or just tears on your eyes and a hole in your pockets.
Disclaimer:
All the statements here are from the author's own opinion and not necessarily facts that you have to take for your own financial decision. Please do your own research before venturing into the high volatility cryptocurrency markets to avoid potential losses.