We knew it was too good to be true.

Bitcoin--and especially altcoins--have gone through a tremendous rally since the beginning of 2018.

For example, TRON shot up 12,000%, Ripple made billionaires, and Ethereum climbed well over $1,000. New investors flooded the market, investing in ridiculous coins at cheap prices.

In other words, after a jaw-dropping rally, we're going to go through a gut-wrenching correction. It's already started.

What you need to know

1. A correction was needed. Investors made some daily xxx% profits last week; the industry added about $10B each day. This is a natural, healthy correction.

2. Some exchanges stopped adding new users. They will obviously return, hence bringing in new money, but as of now some investors can't get into the market at all.

3. China may cease Bitcoin mining. It looks like the crypto dragon will cease mining Bitcoin. The market tends to follow BTC, so if it's market value drops, so will all the other altcoins.

4. Coinmarketcap started to exclude South Korean prices. The tl;dr is that a number of Korean exchanges price well over the rest of the world--the Bitcoin trades at ~$23,000 on Korean exchanges vs ~$15000 in the rest of the world. The value of these coins are not actually dipping, but investors are panicking nonetheless.

5. There will still be some losers. Many coins became ridiculously overvalued over the past week and have no value or have dubious practices. (TRON, for example, was caught plagiarizing most of their white paper). Some altcoins will not recover, though exactly which has yet to be seen.

Be sure to check out the latest Forks cryptocurrency news.