Two-way volatility of altcoins

I’ve been looking at some of top altcoins, such as Bitshares, Monero and such.

Bitshares’ market cap is $9 million (so, more than MAID), its largest exchange is Polo (same as MAID, but 80% vs. 100% share in case of MAID) and there’s just 129 BTC of buy orders (vs. 52 BTC for MAID, but Bitshares is v2.0 whereas the SAFE Network hasn’t yet launched).
At the same time, in the past 24 hours as many as 1,759 BTC (!) was traded. That is totally crazy.

Obviously one of main reasons is the ongoing BTC craze, but one can’t help but wonder whether these until recently supposedly promising Bitcoin 2.0 altcoins will ever recover. Probably they were impacted by Ethereum as well (the smart contracts/apps side of altcoins).

Today there’s a “catch-up” in some of them, which is also very interesting. Perhaps the buyers think BTC is already overpriced so they’re buying the next thing that ought to go up?

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I think the volumes are so “low” that some bigger investors can run the markets quite easy if they want. I own some Organovo stock. It’s a microcap stock but their volume is already over a million stocks a day (on average, so volume around $3 million). And that’s just a little one! Compare that to the coins and they’re completely off the radar for all hedgefunds etc. What we see is speculation and the hope for another “Bitcoin” that went from under a cent to over $1200.

Another thing to point out is that Counterparty is actually up and running, but their marketcap is only at $2,7 million. So the “market” is pricing Maidsafe way higher because of the idea or the promise.

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I just took a look at the current state on Polo. The situation is completely insane.

For example, among “established” small coins, Namecoin has only 1.5 BTC of buy offers, Omni 5 BTC and so on. Siacoin (which is in “beta” phase with “real” coins) dropped about 60% from its peak which was only 3 weeks ago.

I’ve never seen anything like this. What does this mean? I can’t believe that all non-BTC coins except top 10 will die at this point. There must be a recovery in BTC price, or drop of BTC price.

Only a dozen of super rich kan control the total bitcoin, altcoin scene, and probably they currently try to push mass adoption by forcing The worldwide media to report the extreme things happening momently… Which is my guess