Bitcoin Forum

What is the reason of this drop? Any news i missed?

maybe just a correction after the pump

It is just a correction and keep in mind that cryptocurrencies prices are always volatile. We've experienced things like this many times.

Someone just made his dream real, lambos, yachts, chicks and few islands.

Weekend correction.   Everyting red except NEO

Usual thing in market actually.
What goes up has to go down at some point.

I think a lot of people are pulling out due to the major swings bitcoin is currently having. It sucks, because bitcoin goes on a rally, alt coins dump, when bitcoin starts to fall, altcoins also dump. Altcoins seems to pump when bitcoin is relatively stable, which only lasts for maybe a few days at a time.

It's strange that so many different coins are falling together
yesterday my portfolio was 7k worth
today is something like 5k
i hope next week we will recover...

Consider it as an oppertunity for alot of investment discount

Just always aiming for long hold and never to panic crypto will bounce back and recover as long as the dev still active and everything still moving properly it will recover and move up much stronger, keep holding mate everything still okay.

The reason for your observation is that most altcoins are heavily correlated to the development
of the BTC price. If BTC crashes, most altcoins drop too - and vice versa.

This is the case, because nearly all altcoins are not traded directly against fiat currencies and
instead only have a BTC trading pair.
You will find fiat markets only for the biggest and most popular coins like BTC, Litecoin,
Ethereum, Ripple, Monero and Dash. All of the remaining altcoins are traded only
against other cryptocurrencies.

Relax, it's just a long-expected correction. I think up to 3K $.

Crypto-currencies are unstable, there will always be a recession, rise, the main thing is not to panic, but wait for the right moment, so everything is in order.

time to buy some coin : )

A lot of people are preparing for the segwit 2x update, that makes those are selling their altcoin and make another major crash for crypto. But this will not for a long time, after the bitcoin segwit 2x already deployed and all of the things will be back to the normal thing. The price will be recover and you can take a lot of profit if you could buy in the dip.

It's just a natural market. Btc got close to 5k$ , and then corrected, and still is correcting, the result is a little market death for now.
It can't just go up all the time !

there are big dumps is weekends. monday all coins make big pumps.

Thank you for the advice...you were right!!
It took little time to recover

I see two reasons there:
1. BTC price reached $5000, which is a very strong psychological barrier. Many investors thus decided to take their profits at this level.
2. It might also be a typical weekend dump, abusing the fact that people can't deposit fiat money into echanges during the weekend. The dump triggers stop loss orders and price falls even lower. Speculators can then buy cheap BTC before the price goes back up during the next week, when people can send money to echanges again.

I think that 5k is too much right now for bitcoin, he's not strong enough yet and grows too fast. Next time he'll conquer 5k height  ;)

Don't search for reasons always. This is a place to get money from manipulation. If they don't make dump, they can't get cheap tokens so they can't generate tremendous profits. That's the main reason behind it.

Most likely a price correction.

What are you talking about ? It is just small correction in crypto..
I ever seen bitcoin fall from 1300 to $150...this is not dump. It is only a correction before going up again..and yes...we dont know how long and how deep the down is..

The dump is cointinuing... I am a bit confused as of why, but well so be it.

It's depend on supply and demand, as I can see that bitcoin value quite stable on range $ 4400
Since bitcoin is a risky investation , nobody can't predict it right whenever it can drop or up but one for sure , if more people interest and legalize bitcoin, bitcoin will up globally

I'm also sure this is just a correction. Cryptocurrency market cap will fall back to 150 bln and then rise again ( i hope  ;D ). Glad to see MCO withstands so far ;)

Its just probably investors cashing out bitcoin and ETH at $5000 and $400 respectively. During weekends, don't be surprised from people cashing out. This is a trend that I'm been observing from stocks and crypto world. But for me, this is healthy in a way, so that new investors can buy bitcoin back again and the price could increase in the coming days. Just keep calm and continue to buy in this dips. And $5000 and $400 are the new barriers, but I'm very positive that that barriers imposed will be broken in the next coming months. I consider $4500 will be somewhat the stable price before slowly gaining and hit $5000 in the next coming months.

If you look at reasons every time there is dump, you will find yourself asking all the time. This section might also end up with threads asking for reasons why there is a drop in value. It is very normal for cryptos to dip sometimes, and then up again sometimes. That is why skills are needed for trading because the market is volatile.

I'm a buy and hold  kind of guy... but wondering whether  btc could drop below $4000... If there's going to be another dip I might wait then grab a lot

I'm taking the opportunity to trade on the way down. Generally, I am still down overall yes, but not as much as I would be if I just left it hands off until it all settled down for sure. Considering I am mostly in shitcoins, I think I am doing pretty good at only ~8% down.

I am diversified in about 12 coins. Basically the way I am doing it is like this:
A few times per day since the dip started, I am checking each one of my coins for gains or stability over the prior 24hrs. Ie a spot of green in a sea of red. This goes against the general convention of red right now which means, at least to me, that the coin has already hit its bottom at the moment or in other words is resistant to dipping. If it has gained, then surely its going to come back down again with this pressure, so I take those gains and immediately put them into my coins which have dipped the hardest in the shortest amount of time. I have noticed that the ones that dip hard unreasonably (for example NEO just now, and OMG) are safe bets if I can catch them before the small bounce back up, and then they end up at least stable for 24hrs or more before the next wave of dips hit. I am happy with at least this (because others continue down around them, while the coin I just jumped into has already had 'their turn' for todays' 'wave' of dips) and then I notice if I hold em some of those will actually then go up.

That said, only a few of the 12 or so coins I am holding have managed to make a gain in the midst of all this, for example SYS. Most of them are dipping, but a few are 'holding' where, in the prior bull market, they would be retracing up towards the next gain mountain, as I always buy em in dips and sell at the peaks (as best I can lol).

So basically put, I am trying to shuffle my money to spots I think will be stable for at least 24 hours or more. I am also only doing this with about half my trading holdings as this is a new practice, but in hindsight with the way its going if I had decided to do it with my whole trade stack instead, I would only be down 4%

Anyways, just some advice to those with some waves trading experience - it goes both ways it would seem.

Looks like another wave of bigger dips has just hit too - good luck everyone. I think this is because we are breaking below 4500 in BTC finally.

Edit: This is insane - crazy big red candles in all of them in the last hour or so. I guess I am just stuck holding for now for all of em.

Yes this coin is dumped hard after their confirmation about visa card. They still don't have a working product, I believe it may launch this month. This coin went up because of that visa hyip if the news would be real then we can probably see the same rise.

We are in just another correction phase, no massive dump at all. So don't worry about it. Think it as 'new chances to invest some coins'. Cause they are cheaper now.

First, there are fake players who artificially raise prices by promoting or approving them. They spend a few minutes, hours or even days to buy cheap coins, and when they are ready to dump them, they will resonate.
When surrounding copper coins rise, trading volume increases and coin values ​​rise. Once the coin reaches the desired price, the player will sell all their pennies, and everyone starts to panic when selling, pouring to market, and falling prices.
Do you think that is the best chance for you to buy? And wait for the next pump.

it seems now is the right time to make a purchase because now some coins have decreased in price so a good chance to buy is very open. maybe for long term investment will be better.

coin market always fluctuates. Like the present, this is also an opportunity for short term investors

Bearish taking control ~ Price Control

Price went up too fast, went up from $4 - Close $5K within weeks

Causes most alts to drop, look at bittrex, someone just massively dumping all their coins

Nothing is impossible. At present many people are aware of bitcoin. Another bitcoin will increase dramatically

Its because of Chinese ICO regulations. Theyve banned it at this point (the banks).

you are right. Many people easily believe it can make a profit when it reaches 5k. At present, it drops sharply. Sharks here....

Yes, I think the reason for the fall is point 1, and then the effect of point 2 is to exacerbate point 1.

hahah, this happens because there are definitely some causes. One is because I think the ethereum news to do hardfork, because if it happens there are some holders Altcoin worried that it will affect all trading. And one of them is that there is a group of mafias who play all the prices, with the intention that they want to get a lot of profits and also so that they can get a lot of coins to save. So the point is this is just a diversion and also there are definitely some people who really want to earn a profit

It is a great opportunity to enter the market when it reaches the correct price.

Yes and a great opportunity to sell and buy back at a lower price, but the question is how low does it go? If you've not sold already should you sell now? This is what is difficult to call. We can all see that prices are dropping, but when do they recover?

I think altcoin and Bitcoin are closely related. It can be seen that after a period of bitcoin increase quite fast and it needs to regain to be able to increase more. The market withdrew about $ 12 billion. A small reduction in altcoins is a natural thing. But there will be a decrease in the increase. The market will soon be vibrant again when altcoin prices are very low, the opportunity for many whales.

This surely explains NEO and ADX being down so strong but not btc and others. From time to time huge dumps happen and provide a good opportunity to buy some coins. I know it's a tough time when you see all your investments costing a lot less than a few days ago but this will change and eventually you'll see 'em all green again. Well, perhaps not the Chinese ones and icos which are already launched on Neo. I made a stupid mistake of listening to what others were saying. I bought adx hoping for the big pump to occur in September and lost 30% of invested money already.

maybe its not the right time to reach $5k and the dump is happen. but i think its just correction before the price is break the barrier and reach $5k. we have much time to waiting the price is increase and its better we make a lot of profit so when the price is increase, we can enjoy our profit.

those who's planning to invest should consider this correction as there chance to make a good entry as we all assuming that bitcoin value will rise up
before this year ends, those believers will keep buying little by little coming from those panic seller who didn't understand the drill.

BTC hitting $5000 was always likely to trigger a correction.

China banning ICO's. And crypto purchase status seems to be uncertain in China as well.

Combine the two ...... perfect dump-storm. Expect it to go down more before it (hopefully soon) goes up again. And I'd imagine the recovery of some China based tokens may be slow to non-existent. Could even end up with a couple of completely dead ducks out of all this.

Fun times!

China hasn't just stopped all ICOs being sold in China. They have announced that they are going to do an inspection of 60 chinese exchanges.

My guess is that users of those exchanges are hastily liquidating and getting their funds out. And that is what is causing the sell-off of everything.

Without a doubt prices have experienced a great fall today,almost everything is in red number,is really surprising.

Smart move eh? You do already know on how spectators do act on this kind of price correction.This is not really a shocking news since price corrections or profit taking is just really normal for a healthy market.For now im waiting for the lowest price as possible before tending to buyback.Im one of those people who do sell off and lucky enough to convert on 4900 price because i do believe that price wont really break on 5k usd.

It will be worth remembering this thread next year when bitcoin hits $10k and prices plummet.
Remember to sell just before $10k and then buy back lower!

im just holding my coin , reading this thread is intresting

now i know its a correction , well at least already ordering antminer at high btc price

Just HODL and buy more if you have some extra money to spend  :)

What a LOL.

2 days people saying "it's normal correction".

And it was china's ICO stuff...

Source??

https://www.c[Suspicious link removed]m/2017/09/04/chinese-icos-china-bans-fundraising-through-initial-coin-offerings-report-says.html

I think this news from China stirs up a little in the dump. Also bought STORJ and VOX hoping to pump a little but almost all of the altcoins are rally affected in this. My investment are sleeping right now. Hope to recover soon

https://siliconangle.com/blog/2017/09/03/china-bans-initial-coin-offerings-pending-review/

China baned ICOs.

Funny thing is that also fair crypto like BTC, LTC, BHC and XMR are losing its value. Totally not logical.

Yes they are not related. Eth family alts failing for icos. Btc failing for the $5k resistance.

the Chinese regulation bans ICO's and the impact was really felt directly, also many people who panic to sell so the prices falling. for me, this is the right time to buy some cheap coins.

China bans ICOs and cryptocurrency to fiat exchange in the country for now that is the reason behind the drop. You may dump as well If you like to because there are too much uncertainty in the market. 8)

If crypto really is a treat to bank tyranny, i am surprised it is taking that long for them to ban the BTC exchanges.
So the BTC ban actually is a good sign, it means crypto can really replace bank accounts and they don't like it.

We should expect such a ban and similar failures of crypto-related centralized services, because centralized services are easily attackable.

They have invented a decentralized money just to avoid such problems, and we are still using centralized services??

We should change mentality, we should start preferring more untraceable ways of doing things at the expense of some user friendliness.
Often the easiest way is not the safest.

For example buying with credit card it's easy but the drawback is...  they know what you bought and how much you transacted.