Bitcoin Forum

What's causing this drop?

My view is its that any needful dev will face the same impass as the blocksize debate, so people are looking elsewhere for solutions.

Dash has a dev consensus and insta send, but a huge issue will premine, However dash has hooked in the MN (miners of dev) to want to act in a unified manner by offering a % income which also has made coin scarcity.

Eth has not so big an issue. Though it did have its DOA debacle

Why would people come back to BTC?

It quite amazing to watch the BTC community squander billions in value. Eventually the miners will be left with bricks at this rate, and core or bu wont matter.

The market has a mind of its own.  I don't think anybody has enough power to manipulate the market without community involvement.  It just may be the right time for the market to correct itself for awhile.  Don't get feared and do anything rash!

Yes, retarded!


I just can't figure why they can't come to some agreement instead of making a pissing contest.

It basically because the number of buyers are less than number of sellers .
If you see on BFXdata it shows that sells account for 52% of trades and 55% of trades are of selling on bitfinex platform, this surely the aftermath of china's inspecting exchanges or maybe there is some other reason

This belongs on the Speculation board, or better yet just joining one of the already dozen or so existing threads in the Speculation section. Oh how I miss newbie jail.

It is a cauldron of sharks out there right now.

ETH or DASH has absolutely no advantage over bitcoin core, they are randomly chosen by the greedy sharks to lure people in.

This recent dump has no reason or whatsoever. It is a manipulation that's all. Just don't fall for it, hold your bitcoins tight and all will be fine.

oh just stop being a bad sport.

The blocksize debate isn't the issue here. It's been going on for nearly 2 years and BTC's price has been rising most of the time. What's scaring everybody is that we've finally come to the point where real decisions may be taken. Some people are talking of a hard fork, while some others are talking about updating the proof-of-work algorithms which are at the roots of BTC. These are major changes, and investors don't like change... Even when most users agree that changes are badly needed.

You have to think long term. Price may keep on going down before the future is visible.

actually i don't know what is happen in out there and i only watch something in the market, i think its because supply and demand in market have big gap and there is people which have much of bitcoin giving a support into the market so this could be make the market have much of bitcoin and the price is now down in under $1xxx. its about the economy law, when the supply is more big than demand, then the price will be drop and its the same with what happen for high demand then the price will be high too. i can only thinking like this since i don't know until the details info about hard fork, the proof-of-work algorithms, who is the investors, the miners, its too far for myself which is still new person in bitcoin industry.

It has always been the same -- panic results in people dumping like there is no tomorrow, where they buy back at higher levels when all drama has been left behind. It's called sell low buy high. I am watching the price go down with great interest as it's quite tempting to buy back some coins I sold at +$1200 levels. I will pull the trigger if the price dumps under $900 as I am not really in need of any coins right now. It feels good to sit on my fiat for a longer while.

some news stories are saying it's going to $735!. Wow!

it was, backing to the early 2014~2015 when bitcoin reached the all time high then dropped to ~$200. that will be unlikely happen because bitcoin has a better stable popularity compared to the past.

This has been predicted for some time now $700-800 range.  There are forces which would like to see sub $500 to bring miners to their knees and a conclusion of the blocksize debate.

Some miners need to be kicked in the balls with steel toe boots.

Colorful description  :)


Great answer  :)

I hope that the drop will not go more in below $900 or even exact in $800 is enough i think since we are just seen the price of bitcoin last year is above $700 .. and this is a new level of bitcoin that  can stay for too long. When ETF is rejected. that honestly its looks like a props just to stay the bitcoin high for now.. before they attack to sell all their bitcoins..

Good grief people pull up your panties and press on. Be fearful when others are greedy and be greedy when others are feartful - Warren buffet.
Let the price drop a bit buying opportunity. Panic sells, the dust will settle and eventually all will be well

they really buy the alt ... why ?
+17% for Bitcoin on Monday.  ;D


http://imagizer.imageshack.us/a/img924/7305/I9mVFk.png

I dont think it will drop that far. It may drop to $800 but I dont think it will go down that far. There are many users of bitcoins and there are still new people coming, so it will never drop so low. I think they are just giving other people a chance to buy their bitcoins while the price are at the three digits.

The hardfork rumour and worthless BU coin. Too many FUD are attacking the bitcoin and I think this trend will continue in the future. until the hardfork will be real and they're stopping the FUD for the bitcoin.

And the media are publicising the bad news of bitcoin and it also gives more effect for those people to get more panic feels.

I agree that the worry concerning the potential hard fork is causing some people to transfer funds from Bitcoin to altcoins or fiat. We could see the price drop even further as they panic sell.

That's funny, because that's the explanation I always give for price movements, and it explains them pretty damn well.  You must have read Jesse Livermore's book.  But that's basically it, more sellers than buyers and the pressure on the price is downward.  As to why...who knows.  People may be sick of all this debate and perhaps see that bitcoin sucks as a currency, and that it's unnecessary as such.  It's still a great speculative instrument, though.

Some are moving to other cryptocurrencies, some are selling into fiat. Some are just hedging their risk with the possible hard fork. Sell half of your bitcoins and you have half the risk, right? That's all that's going on. Another day in bitcoin land.

Well the price will even drop more , it may go down to 800$ .in this case i would say that people should buy bitcoins because it is the best time to buy the bitcoins and keep a target when to sell .the main problem is that within hours the price can drop a lot and u sometimes dont get the desired price for selling.

I exchanged for dollars. Waiting the bitcoin fall a bit more to reorder.

I'll hodl til 10k then I'll sodl, if we ever get there.

Its all occuring due to panic selling.Immateur bitcoin holders are responsible for this.They see some altcoins pumping and just turn their investments to altcoins.Great day for altcoin owners filling up their pockets.Its very sad that i dont have enough much money now,otherwise i would have grabbed lots of  low priced BTCs by this time

People panic and then sell their coins etf rejected this is the reason behind the price dropped :O hope that it will be back to normal soon bitcoin holders sold their coins becuase they think this drop keep continue till the end of the month. Grab chance to those holders of some altcoins , alternative coins had a potential to rise.

I think right now ETF rejection was not the cause of the price drop but the one that caused it are FUDS that can be seen which makesany people panic sell and the whales are taking advantage of it. I really hope that this dump will soon stop ane the price rise start again so that we can see bitcoin go up to 1000$+ again.

To save their decimals and it will be automatically pump the price of the altcoins. But in this time the bitcoin gets recover for its price and we will see the bitcoin will above $1000 again.
I've made some profit by buy cheap bitcoin @900. this is just pump and dump. A lot of the people are not realize if this was a usual thing.

Bigger than the fall inmho is the % of total market, <70%, this the first part of the network effect to be lost, with ethers 400% increase, from circa $1b to $4b.

Mull that over.

tech is littered with myspace face book, examples.....

Wow!  Hopefully it will get cheap enough for me to buy some for a change. I've been watching this stuff for awhile but haven't committed yet because I am still trying to take it all in.  I hope I didn't miss the boat! Is everybody running from bitcoin and entering ethereum?

Yup, ethereum increased 400% in the last month :) and bitcoin decreased with -20% this month.

Will ethereum keep going up and bitcoin keep going down?  Or, maybe it will turn back around like it has in the past?  Buy low, sell high?  Or, buy while it is going up because it might not come back down?

You may have a point that with $20B market of Bitcoin, it is quite hard to manipulate it's market but you fail to count the influence of several big players, and exchanges to Bitcoin.  The joint announcement of exchanges about Bitcoin hard fork created by BU will be considered as altcoin and couple with the doomsday rumor of Bitcoin plus the intentional dump on the market is surely the major reason why Bitcoin plunges back to triple digit.

As long as bitcoin will go down, ethereum will go up. They are moving convergent.

I think it's just FUD. I think that missing the opportunity to buy cheap bitcoin might be a mistake. Bitcoin has proven to rebound resiliently, so I'm thinking buy low now. I do not think it's the end for bitcoin. But, I am afraid to commit because the FUD is the strong sort of FUD and not the normal everyday FUD I am used to reading.

My strategy is similar but in terms of time. I will hold till 2025 and then sell.
I am betting that after we get over the next halving, Bitcoin will go to the moon. These minor fluctuations don't worry me.

After the upcoming halving the price will go high, but only very few hold for such a long term focusing upon a good increase. Most of them try to gain profit in a short time period, so even minor fluctuations matter and only those fluctuations give profit unlike the price increase and decrease. Now it looks good price staying above$970.

Probably a correction that was going to happen anytime.

There is no avoiding the fact that the price was obviously a bit too bubbly, and an adjustment downwards was needed before there is a price rise again. After the ETF decision there was a short squeeze which left shorters stunned.

But then after everyone's attention shifted out of the ETF it went to the hard fork.

And that's bad news for bitcoin, as there is a ton of infighting going on.

I bought few around $910 because nothing can be safer than bitcoin. It's wonderful time to make invest into after few days it will be on new ATH when this controversy will die. Bitcoin will be more strong and price will go over $1300

I guess bitcoin dumped because of the spread of BU FUD and people getting afraid into it. I think it is non sense to be afraid of it though since even if it happens we would get the same amount of bitcoin on BU when hardfork happens anyway. Right now I am holding bitcoins and I suggest others to hold their bitcoin too. Maybe in the coming days bitcoin will pump for sure maybe next week or weeks from now im not sure when but surely it will happen.

Calm down people! Bitcoin is trading in a range of between $900 and $1000, and is likely to stay in that range for a month or two till people decide the way forward on this hard fork. At that point it might either start another moonshot, or drop as people give up on it.

Double number of coins doesn't mean that it will result in you actually getting a major benefit from it. If there really happens to be a chain split, then it will cause a massive downfall in the price of Bitcoin. I wouldn't even be surprised to see a short term decline to levels around the $300's. Your actually benefit will then have to come from you scooping up cheap Bitcoins, and not from having an equal number of BU-altcoins.