Bitcoin Forum

Hey everyone, I was wondering what you guys think attributed to the price drop we saw today.

Are you talking about the one on poloniex ?

Na I use Preev. They source from a few sites.

There are several factors that could be account for the fall in price same way we could have it if there is price surge. Aside that, I don't believe any body in the crypto world will just have the opinion that price will always continue to increase without things like this and in short if it happened that way, then one need to be careful becuase when it will, it will be massive. The only objective evidence is just the forces of demand and supply.

I have replied with others thread asking with the drop.



It was just a correction and it's a normal thing when the price of bitcoin soaring high, people that are satisfied with the profit they can make starts to sell.

When the price reaches a new all time high & investors think the price won't go any higher, its normal for those who bought in high volume at lower prices to sell en masse to turn a profit.

When the selloff is done & bulk traders are done making their profits, the price will likely start to go up again.

It depends on how much pump & dump power was behind that last big price movement up, in proportion to real demand.

If demand is low the price could sink. I haven't been paying any attention but think btc will continue to climb. We will see.

Nothing unusual as there is no big events that can bring the price down. It's part of the usual cycle during price increase and can't be considered as an exit to our coins and make it sold by today. Just do HODL. Rather than to worry about that, treat it as a chance to buy bitcoins again.

Who knows this is the last time we can step on this current price rate. :)

Bitcoin price increases amid rising demand. It seems to me that a large speculator has paid attention to bitcoin. Only now the number of bitcoins is limited and when a trader will sell the bitcoin small buyers can pay the prices drop and growth will continue.I'm sure that price $ 3,000 no limit.

It is very normal for bitcoin to drop in price eventually. The sudden drop today was because of the correction based from the multiple threads that asks the same thing. I personally do not know if it is a real correction that happened. But if so, nothing is to be worried for this are all, just like i said earlier, very normal.

Price correction, retracement (filling in the gaps) is more accurate. Price may have backed of the highs but that was an impressive rally. To the OPs question, I read there was a substantial investment in BTC "and alts" being made by 2 major pockets. Japan and US combined investment of $800+ mil flowing into the crypto market is going to cause waves. Once the buying is over, days like this occur. Some castles in the sky will certainly crumble but this market will become much more exciting for a much longer period than this recent ripple. I for one have a renewed appreciation for all things Ethereum.   
All my best...

Hopefully just correction. I haven't heard of a big news lately.

A 15% rise in a day usually means a drop is coming. I suspect that traders were reacting to the high prices in Japan and South Korea (>$3000), but that fiat transfers from those countries for arbitrage couldn't keep up with the price rise. There may be a wave of fresh FX arriving in a few days to start the fun again.

I found it normal and very expected... The price jumped +$600 in less than one week and +$350 in less than 12 hours! Then the big whales are selling their assets and they bought again after the price crushed
Big and huge profits! Well calculated

Traders are dumping price under 2,400 now. Question is how low do we go and how fast do we recover. Kinda relieved a bit buying opportunity it for some cheaper prices!

Bitcoin down 7.9 percent for the day via bitcoinwisdom

I think some whales are trying to reduce the price and they want some fool people to sell their coins so that the whales buy some more bitcoin at lower price. I am not selling now and trying to buy as much as possible for me because I know the price in the coming days will once again start to increase.

Looking at the Bitcoin market history, I would not say it was a turbulent day. I think that really turbulent days are about to come, but for anyone who understands the Bitcoin's potential and did not invest more than should be invested, it will not be so difficult to overcome such moments.

Today a little correction in the price has occurred so people who are just the new investors and users of bitcoin noticed it as strange as they are new to bitcoin and never saw that in the past it happened and it often happen for a shorter period. So in that way the new users of bitcoin started to sell their coins. But we do not need to worry because the adoption is in continue and the price rise will continue after a smaller period.

Shaking out weak hands like always with such price rises. A significant correction like this was going to happen, you should've been ready for it. Just wait until the Asian market comes back into play and price will start to pump right back up again. Cashed out a little bit in the form of BTC mining gear as I have relatively cheap electrical rates so not a huge loss for me. Business as usual!

It's normal. I'm actually surprised that it kept climbing as much as it did without a sizable correction. Well, the correction is here, and now it's only a matter of how low it'll go.

My thought about the price drop today is that there are just some traders who took profit specifically those traders who hold big amount of bitcoin. I personally think that the price might continue to rise in the next coming days but there is also a possibility of another dump again so im not sure whether im right or wrong. For now I will just watch price movements of bitcoin.

It's normal to happen, it's so unreasonable that prices keep rising and and i think the price is still on a positive track in this year even though bitcoin price down.

The price of bitcoin is now experiencing a considerable decline. This is all we feared before. When bitcoin prices can rise very quickly then bitcoin prices can decrease rapidly too. Some people panic sell, they fear bitcoin prices will continue to plunge down to the lowest point.

Not just bitcoin but almost all coins are in red. The ones that I never thought would be green in times like this are greener than before  :o The price of bitcoin didn't dip below $2000 so I guess everyone will still be holding on.

Whales are cashing out their profits on all coins right now, that's what happens when alts are pumped sky high and Bitcoin has also been to a smaller degree. I'm not surprised about the alt part but I feel a little bad for newer Bitcoiners who just bought in. Tough way to start, but it gets harder.

We have this this before correction ocured and now the rebound, price was down to about 2,300 and now up to.near 2,500 again. Time to buy a cheap coin has passed un the way up we go!

Correctly. All coins have a substantial decrease. But this decline still can not change our thinking to continue using bitcoin. The price of 2000UsD is a fairly safe rate, we have gained many advantages over current prices.

I think this is just an expected price correction. The price went up very high over a short period of time and it shattered the previous record high price.

There were clear overheating signs in the days and hours before the 2700+ top. The trend channel got steeper every couple of hours. And we have already left the phase where a couple of million dollars can double the price.

For me, the short- to medium term depends on the outcome of the blocksize debate. If we see a compromise (based on UASF or on the Barry Silbert agreement), then we'll see probably a higher top. But if not, then it can fall really deep (I expect at least the level of the former ATH at $1150-1350), because this price increase/bubble had no real fundamental justification.

for the past week or so everyone was shouting the words correction, and now it finally happened in an obvious and big size.
the corrections always happen, they were also happening all the way up if you look curfully and pay attention to the details, the details such as the 60$ drops during the rise. and finally the big correction happened since everyone was getting panicky!

No big news like a hack or something, so this is a correction, basically there are some people that decide they wanted to cash out and get their profits then the correction forces some of the traders to be more cautious and they no longer buy as much as before, so to me this seems completely normal.

My prediction is we will see dump after dump after dump until we reach around 700-900 levels.
We've already seen two big dumps today. More to come.

Must be kwukduck ? , yup it's kwukduck

People who are satisfied with the price hike are also selling the bitcoins.But it is just a price correction,well 400$ may be huge drop but in case of bitcoins it is not very high .the demand for bitcoins will increase and it will touch the moon.

Just the common trading process and for the first time I'm not angry about this drop because of trading as i got a really good offer last night and i sold some of my coins. Today morning when i woke up the price dropped it was at 2300$ so i bought again. Easy profit unknowingly. I'm just waiting for 3000$.