Bitcoin Forum

What is happening with the cryptocurrncy market right now, all altcoins and bitcoin are dropping in price very fast.
What could cause such a thing, just look at coinmarketcap and poloniex, they are all in red :S. Whats happening????

When you go through a level, people's stops will get triggered (the automatic get out of a position level you set to protect most of your money) When stops start triggering you can get a cascade going because there is no one standing around waiting to buy. But eventually someone will see it as a buying opportunity and the price will level out.
This is really the wild west of markets.

It's just another bitcoin correction, happens every time there is a bull run. When bitcoin corrects, almost all altcoin go red. From the top 30 cryptos, the only 3 coins that are green right now:

-Ethereum: 8%
-Bitshares: 2%
-NXT: 30%

Let's see if the hold on the green if BTC keeps going down.

Its frustrating as fuck that i can't play in on this event, if i buy bitcoins now it takes like 3-5 days untill my payment is reached and i get the bitcoins...
still waiting on my bitcoin purchase from 08/06 .... damn banks...

any way of buying bitcoin instantaniously?

This is normal, almost all of the alts along with bitcoin have seen a huge surge on price within short period of time in last few weeks so correction on price is quite predictable. But I don't think price will drop dramatically like last correction we had where price dropped to below 2k but quickly pumped back to around $2.5k

Just watched it and don't panic. If you can't take it or can't handle the stress while watching the green and reds, logout on cryptocurrency world for the moment and back later. No reason at all for bearish activity, it's a trigged dump and it was a success.

Wait for it to slow down and soon it will reached the correction price. Then considered buying at that level. Dropping fast can be covered soon by fast increase so take that advantage rather than to be worried.

It is a periodic process. Considering present rise in cryptocurrencies prices we gonna see more such drops often. Actually prices are determined by buyers/sellers. So if some coin is at $500, it need buyer at that price to grow more. If it doesn't get buyer there, prices will fall subsequently to get buyers.
So whenever increase is too much in coins, adequate fall happens due to conservative approach of investors  known as correction.

Bitcoin and all coins on my portfolio are on red status now. :)

Don't sell while there is a price decrease just let it that way. Im sure after this a bright green will lightened up again my coin portfolio. But I can't hide the fact that Im really stressed whenever there is a movement like this, same when there is a price increase rally. Out of charting for the moment and will check again the status tomorrow when I woke up.

Shouldn't matter if you are talking about Coinbase. If you purchase .05 Bitcoin for $200 now and waiting authorization, When it shows up it will still be .05 Bitcoin for $200.

This one seems to be a major correction. I am looking at the Bitstamp exchange rates, and the prices have crashed from $2,980 per coin (earlier this day) to around $2,500 per coin right now. Even now it is declining in Bitstamp. Looking at the rate of decline, I won't be surprised even if Bitcoin hits $2,000 or even lower.

Its a weekly occurance now so don't fret over it. They usually recover fast and even if they don't do so quickly they will do so over time assuming you haven't got scammy coins in your portfolio.

I'm waiting for my order of 50€ at coinify, are you sure that i will buy the coin at the price as of when i bought it? that doesnt seem logic, i think i saw somewhere at coinify that the price could change depending on the price when they recieve the money, are you saying that this isnt the case coinbase?
so when i buy one bbitcoin now with them i would pay the price i pay now?

people panicking, just like it always happens. the only thing I don't like is not having enough money to buy more btc right now that is sooo cheap. just reached 2300 in bitfinex and going up again.

Omg, the price decrease a lot. with less than 24 hours bitcoin fall around 500$ or more. It's unbelievable. Maybe it's some kind of correction. but now, it seems to increase a bit. Anyways, I don't be suprised if the price touch the 2000$ today. but after this correction bitcoin will continue to going to the moon again.

Anyone know a decent instant bitcoin broker that can sell me bitcoins at the price it stands now?

This has got to be a bad day/black eye for the cryptocurrency world if I'm not the only one having major issues with Coinbase.  YES, I know...I shouldn't be using Coinbase at all.  I understand that fully and today is a major lesson and wake up call to those of us still using Coinbase and other "controlled" sources of the sort.  I don't use Coinbase solely but after I can actually freaking use the app/website...I'm out!

Guys, I have some more bad news coming in. The BTC-e site has been down for well over half an hour now. I hope it is just another DDoS attack, and not a hack targeting the coins in the hot wallet. And BTW, the Bitcoin exchange rates seems to have stabilized a bit. I am analyzing the rates in bitcoinwisdom.com, and the prices seems to have stabilized at $2,500-2,600 levels.

Whales profit taking?

Don't worry it alwas happen in the market sometimes it gets increasing but for now it's dropping soon enough or maybe later it will start to increase again, well that's how the market works. When they're low i think it's an opportunity to buy alot of coins and save it for later and when the cryptocurrencies start moving up it's your turn to sell them in bigger price

I cannot see major drops in the altcoins I trade and the Eth price is rising today from 0.10 to 0.14 (due to the Bancor ICO I guess). Except that other altcoin prices have dropped but it can be due to the bitcoin prices dropping. These price changes shouldn't be considered permanent as they keep fluctuating every second. It's only a one-day's chart while I see this happening almost everyday.

Lets not rush with conclusions, fluctuations are normal thing, it can be green all the time, and prices cant go up all the time. Drops are normal in crypto world, and before you sound an alarm wait a bit to see what is happening, maybe people are selling a lot in the moment, that leads to dump.
That is trading when its red you need to buy, when its green you need to wait that peak and sell right before it. I do not worry, we can relax and watch situation closely, without some big nervous, and wrong conclusions.

people who really believe in cryptos will stay in i think....

you guys think its better to trade btc for eth, because eth seems little bit more stable at the moment?

regards

I'm not worried about the price drop at all.  It's the issue with Coinbase and apparently other mediums being down.  With Coinbase being the largest "outlet" of it's kind and now not working..I'm quite worried in the short term.  Also recently read how Coinbase is in potential legal trouble with the whole Cryptsy ordeal on a couple outlets.  I know this is older news but it's surfacing today a decent bit as far as I can tell.  This have anything to do with the price fall/Coinbase crash perhaps?

It would appear.. we are watching a shift to ETH..  Shame making an offline with ETH is so hard..

green again :D

It's practicly every bitcoin supplier that is having issue's, i guess to many ppl where trying to buy in on the low price.
I've been scavenging tons of websites and most of them have their limits lowered or where either not working or where either asking a shitload of transaction fee, its outrageous, anytime the BTC downs, it seems to be very very hard to get a decent amount of bitcoins..

Already bitcoin price drops $400 in half day. this is huge loss those who are waiting for to hit $3k. I don't know for what reason the price dropping. it went up to $2550, but now it is recovering. Maybe you right the price is going to stable at $2500 to $2600. But still, it is a good price and those who are waiting to buy bitcoins this is the best time. I hope it will recover slowly.

If only i could, there isnt a single supplier that lets me buy an entire bitcoin..

It's another Bitcoin price correction and some altcoins come along. Nothing to panic about. It's the good moment to earn something if you can be fast and have your funds at disposal. Currently the price vary but it would probably stabilise at some moment and after a while will start to rise again. Everything already seen.

Some altcoins are trying to climb up slowly. I see Green already at some.

Looks like most of the traders triggered their automatic buying price target. Bitcoin is on the way now too on slow movement. No way a recent price drop like that will ruined the price rally of bitcoin. For those weak hands who joined the party of drops, feel sorry for them.

OMG, second drop in less than a month. But this one is less big. I hope it will do the same and coming back as we saw 2 weeks back.
As Bitcoin is not the only crypto acting like this I am less worried. I am starting to wonder if we should be ready to see such behavior in a short laps time.
As for the member mentionning BTC-e, I think they have such problem very often

This happens. Nothing new. Nothing to panic about. Just another correction phase. Buy during the dip and just wait. If you don't want o buy, then just sit back and relax. Don't panic sell your coins like most others do just to regret later.

I have been using Coinbase for over a year now and not once have I seen the app/website shutdown like it has today (I tend to buy on most dips too).  You have seen this before?  It's just one reason why Coinbase is considered a joke to many "senior" crypto enthusiasts.  It's a direct hypocrisy of what decentralized blockchain based crypto's are supposed to be all about (and so is the fact that I've still been using it and writing this post-I know, not proud). I will be joining those who don't believe in such a medium, as I should have a while back.  

Probably, and shaking weak hands to sell their coins.  This July will be another good month for Bitcoin, Australia adoption, if whales plays it right, they can double their stash with this "correction" and then have more value of their stash when Australia adoption hype come.  They will definitely plan to incur FOMO in the mind of the investors to panic buy bitcoin just what they did in Japan adoption.

Look it as an opportunity to buy cheap bitcoin, it's normal in here don't panic. if i had cash right now i would buy! i spent most last month on bitcoin(buying at $2300). ;)

Well said but how to determine where the dip is?

Most of the people lose their money on this type of buys which is hard to determine.

Be quite and wait your bank deposit in 6 days...
Maybe you will be thankfull to your bank when you'll see the BTC price in 1 week, under 2000$...

While others are getting panic, traders is smiling whenever this happen. Don't panic it's normal, not all the time it will be a green and for sure it will recover in a few days/weeks/months. That is common in crypto world and that's a good time to buy as well.

I am not worried about it at all since the price of Bitcoin will either be really expensive in the near future or the coin will have no value if it goes the other route. If Bitcoin goes the other route and has zero value on it then that just means the whole Bitcoin Project failed.

1 year ago the total market capitalisation  was roughly $10bn... now it's $110bn.

$100bn pumped into bitcoin and shitcoins.

It's only natural some want to cash in their original investment plus some profit, thus leaving the rest to ride.

Back then, in 2016 the Bitcoin market capitalization was somewhere between $8 billion and $9 billion, and all the altcoins were having a combined market cap of somewhere in the range of $1-$2 billion. But now things have reversed. Less than 40% of the crypto-market cap is in the form of Bitcoin. And if things continue like this, I guess Ether will overtake Bitcoin by the end of this month. Right now, BTC is at $44.1 billion, and Ether is at $37.3 billion.

just keep calm, relax, and HODL  ;) . storm should be over soon

With such a spike in declines we should be able to capitalize on our capital we can buy altcoins so much that in times of re-gain we get a lot of advantages from all that do not panic over the decline in the value of crypto in every market because behind it all will definitely experience Increase slowly.

Even with the recent decline, bitcoin is still 150% higher compared to last year so there's really no need to worry right now. Prices are bound to correct at some point, and maybe that rise to $3,000 was seen by as some as too fast too soon and some decided to sell at that psychological barrier. If anything, this current situation presents a good buying opportunity for those waiting for the price to touch $2,500 once again.

Altcoins such as ETH, Dash, Dodge, Lite are being green but the other altcoins are seems in red. After the bitcoin dump to 2500$. Now price of the bitcoin is increasing from the yesterday. Price is settled around 2690$ now and don't be panic to invest or hold the bitcoin. Even Eth transaction networks are also seems slow in all wallet providers sitel.

Right now many altcoins as well the ICO value too have been falling. This could be an major issue for the entire digital currency network. But periodical fall only could get all of us a better earning prospects. So I think this is one such and soon price starts moving forward.

I think a big correction is coming it is simply impossible for this altcoin run to continue, many coins have gone up in value at a tremendous rate, I think we are about to see a drop in the price of altcoins and a surge in the price of bitcoin but maybe for a moment we are going to see ETH with an higher market cap than bitcoin.

uh where? i think you never heard the expression  "price correction", it's a normal thing to have a retreat after there is a pump, it's good for consolidation

besides not all altcoin are dumped, ETH is increasing more than 50% now, and bitcoin lost something like 5%? that is not even a price correction actually, but market fluctuations

This is not the first neither will it be the last. That is the nature of the crypto market value which is dependent on the market. It can't always keep rising or falling, something will always trigger it back one way or the other. That is why it's volatile. Just chill, nothing to worry about. Once people start noticing the drop in price, they will start seeing it as an advantage to buy and once the demand starts increasing again, then the price starts rising.

Probably just some Bitcoin whale that cashed out a few coins and this triggered a automated sell-off. You have to remember that Bitcoin is still distributed between a small amount of traders and hoarders. You have some people with loads of coins and then a bunch of people with smaller amounts. Some traders use bots to trade and they set triggers to protect their investment. If the price drops by a certain percentage, the bot kicks into action and starts selling and this in turn triggers a drop in the price and a domino effect for other traders to panic. ^hmmmmm^

This is just a trigger happy bot army reacting to a Whale cashing out a bunch of coins. ^smile^   

I guess that's based on the BTC value rising as well, Altcoins prices jumped with BTC since the main market for trading altcoins is with BTC and hence the prices are very closely linked and a rise in BTC could mean a decrease in BTC value for altcoins.
That doesn't mean much IMO as the prices can recover very easily and quickly right now.

A normal price correction. Though the corrections have gotten shorter and bull runs seem to come sooner now.

There is a correlation between bitcoin and altcoins especially BTC/LTC, comparing the chart, it is evident that LTC prices rises and drops according to bitcoins. ETH also has a correlation with BTC prices, it was somewhat like LTC in the beginning, moving according to bitcoin market, but in the last couple of months, it seems like fluctuations in bitcoin price is not much affecting ETH.

The price drop was just a small correction, it is increasing again.

The altcoins have increased big time against BTC, some running up 10-50 times... For many of them, I don't think there are any fundamental break throughs, most are just hypes. They will go down and replaced by new ones, new hypes.

With soaring bitcoin prices in the past few weeks, certainly affect the price of altcoin.
Thus we must prepare ourselves when the bitcoin price drops because it will have a major impact on the price of other altcoin.
At this time we must be very thinking out loud so that we are not wrong planting for our altcoin fund ..

I quess this is normal as you don't expect bitcoin and altcoin to be rising every time,every market is base on profit and lost,sometime u can notice that when bitcoin price is rising almost all altcoin price will be dropping and sometimes both bitcoin and altcoin price will be dropping and this is normal in every good market,it was even worst in May 27th that altcoin remain red in about 3days

This should happen then only the price will stable at one price. See now the price will not go up more than $3k and it will not drop below $2500. It will fluctuate in between this amount. So in coming days, it will stable in between this amount. Last night it went up to $2500, and now it comes up. If it does not happen, then there is no work for traders.

That's nothing to make a fuss about IMO, bitcoin is volatile and the last time rise and drop showed that already, and the time when it dropped to $2100 etc etc..., regarding Altcoins, it's either following the BTC drop, people changing back to exchange to USD or a big trader sold some big altcoins.

Yes all of them drop like rain, almost every alt is read, bitcoin is also going down, but it is a common situation, there was a time when all of the alt is green, so this is a great opportunity to buy and to stock, most of the people will see this as an opportunity to get big profit

This is the proof why many of us calling the market now is a bubble or over hyped because almost all the prices of the coins even bitcoins, ethereum and many more are resulted mostly of hype so there is nothing new to this kind of scenario of fast dropped for the prices of the coins and if you are a true believer with a high faith then all you need is patience to hold.

I've seen Coinbase going for maintenance work before

It usually took a few hours at most. Since I don't use it any more, I don't know how long this round of "maintenance works" lasted. Regarding price dips which now happen "too often", this is an obvious outcome that we should expect at such high prices. Metaphorically speaking, it is the price we pay for Bitcoin going to the moon without at the same time expanding its adoption between merchants (I refer to genuine adoption when received bitcoins don't get instantly exchanged to fiat by the merchants)

I believe the reason why other Crypto are dropping is because Bitcoin is dropping also. Just like always it will drop and soon will rise in much higher value again. I never panic with these situation because it always been like that.

This Sunday bitcoin broke all it's previouse records. And if in the most world the price was a bit higher than 2900$ in China the price crossed the point of 3000$. As we all know there are the most number of bitcoin holders exactly in this country, so my idea is they just began to cash out their money on bitcoin's maximum and that provoke the price to fall.

Bitcoin has a large effect to the things that happen in the Altcoin region since pretty much all the Altcoins that are out there like to be paired with Bitcoin in most Bitcoin exchanges. Bitcoin is what keeps the price of Altcoins stay afloat because there is not that many people that want an Altcoin just for the purpose of having an Altcoin that has no value.

Well, a number of reasons. I don't know about other altcoins, but I may be able to provide an answer for Bitcoin. I presume it would be caused by the hard fork on August 1 and the scaling issue. Transaction rates are increasing along with confirmation times. This together provides a deterrent to people.

What's been quoted might be the true facts behind the ongoing price drop, but also with it a small controversy take place. If the scaling hardfork and transaction is an issue then what's the reason for the fall of all other altcoins.

The last drop was probably due to heavy whales selling some of there stashes, if you even look at the exchanges one by one, the fall was first located in coinbase price and later followed and covered the rest of exchanges, so maybe that is a sign of the big "sale".

For the past 2 days I've seen alt coins going down that almost all coins listed in Polo is in red, there a few that remains in green but I can count them with my fingers and they are up with only a single digit, but today I see a lot of activities going on. I noticed some coins that are not heavily traded but today it's alive and up on double digits.

The only coin I didn't see sustaining massive losses during the past two days is probably ether, being the must self sustained and able, it had mostly received a minor percentage loss compared to other coins losing more than %50 of their value.
I don't know the reason for altcoin drop, as even the bitcoin news shouldn't affect altcoins negatively but positively IMO.

of course it does...

Precisely, why fret if you know that this has been the trend. I don't know why people still feel unsafe with their investments in Bitcoin because it will bounce back again-it's always been like that.

Money changed hands, this is normal on markets. Some must loose because only then someone earns. Simple as that.
I hope you earned this bubble :)

Ethereum is still waiting to meet its fate

It is not going down because many ICO's are planned to release their "coins" later this month (and likely in July). When these ICO's eventually turn to scam, Ethereum will most certainly lose its appeal that it has today. Right now, the fees in this coin are close to those of Bitcoin, while it is not even a currency (though it can still be used for speculation as a financial asset). As to me, Ethereum is likely going to end up as one of the biggest scams (if not just the biggest) out there, with its ~40 billion dollars of so-called "market capitalization". Something is inherently wrong with it, it smells like a strange reincarnation of some bubble from the dotcom era

I agree, this is actually true and is the main reason most probably why the other cryptocurrencies are dropping its current value. But we need not to worry because this has happened before and it will bring its way up back again.

Everything is priced in bitcoin thats why altcoins follow bitcoins fiat based priced quite closely but its only a problem if you think bitcoin will die in the near future because everything rebounds after the initial panic.

It now looks like a temporary correction and now the price is recovering as all of the major coins have recovered in the past few hours and the surprise continues,i am not sure how to conceive these sort of correction,i really thought it would be a major one but the price is recovering in all of the coins,so it was a good time for investment.

Yeah it is a bubble because there is no fundamental reason for the rally to happen, so to me all seems to be speculative money that does not what it is doing or it is money that is trying to manipulate the markets to is advantage and in any case this is going to go down at some point as they withdraw their money.

And my pure magic the bubble refuses to burst.
It was going to pop in May , two weeks ago , last week also but the bubble seems to be made of iron


And of course the reason is the whales. Well, it is always the whales. Or the bears.
Damn animals.