Bitcoin Forum

LONDON (Reuters) - Bitcoin dropped below $7,000 on Friday to trade more than $1,000 down from an all-time high hit on Wednesday, as some traders dumped it for a clone called Bitcoin Cash, sending its value up around a third.
Bitcoin has been on a tear in recent months, with a vertiginous sevenfold increase in value since the start of the year that has led to many warnings the bitcoin market - now worth well over $100 billion - has become a bubble that is about to burst.

It reached a record high of $7,888 around 1800 GMT on Wednesday after a software upgrade planned for next week that could have split the cryptocurrency in a so-called “fork” was suspended.

But it has quickly retreated from that peak, falling to as low as $6,718 around 1330 GMT on Friday. It later recovered a touch to trade around $6,880 by 1645 GMT, but that was still down almost 4 percent on the day.

it is only small correction and will be good if this correction stop to 6,500$

and the bitcoin price will rise again like the other day, just calm dont panic. If you do a trading you must be know when the highest and the lowest it will be, and take advantage from it

Fall baby! This guy is about to buy in!

Most altcoins are also down. Anyone who bought a year ago is still well in profit. Bitcoin has recovered from drops in the past.

BCC is rising fast, soaking up the $$$s, probably due to the Nov 13th hard fork. Hold tight!

I believe it's just a correction after the Segwit2x market shake.

Don't panic. It's just a correction. No need to get alarmed and sell your coins. You will regret it.

Don't worry. It is just a market volatility. Remember that CME group will launch Bitcoin future contract in next month. Bitcoin price will recover soon.

We believe it might drop down to $5,500 levels, and then to pick up. But nothing in this Crypto world can be said with guarantee or certainty; it all needs to be worked out very carefully. We should keep every angle in mind before making any kind of decision.

People who have long been watching bitcoin know that this is normal. Thanks to such fluctuations in prices, we can earn money. The main thing is that the overall dynamics is positive.

It has recovered from that pump, i still remember when it dropped from $7k to $6k in just a few hours, and then it touched less than $5,5 thousand dollars, but now it is recovering and it has touched $6,7k today, so we are still close to last week's ath, there is no need to worry about it, because you all know that bitcoin will always recover, no matter what, that is why i am not worrying about this.
Anyway, we should be careful about bitcoin cash, it is a huge enemy from bitcoin, and they want to turn all of us against bitcoin, and i almost did it, but i am sure that bitcoin is the only bitcoin, and this will be the same foverer.

Certainly, also, I don't think that forks and other creations of alts are going to be helpful in crypto. As we have experienced, some people uses it for greed. We can't say who will be next manipulating the price just by buying alts that are very cheap and trick other users to shift again.
I really can't blame users that don't have a strong faith in bitcoin because most of us depends on its income provided. They are pretty scared of losing everything.
But since events like this happen. What should we do?

Nothing to worry about. Bitcoin always recover from correction. Some time ago it took weeks to get the price back to its original state but know Bitcoin became so popular that people start to buy it when Bitcoin is affordable for them. It is really easy to earn on corrections but you have to know when to sell and when to buy. This is the only difficulty in this process.

I expect it to drop more and more yet.  I think it will probably go down to around 4,000 before we see any sign of stabilization.  It just rose way way to fast and can't be expected to stay up that long.  Hopefully when it goes back down you can all purchase a lot of coin again cause it will definitely eventually go up.

dont worry about this dropping moment, i think bitcoin price goes down because of the cancellation of the fork, otherwise some whales are went into the beach by switching into bch for them to getting more profits on it, i think after that event bitcoin price will goes back soon into its normal price and it may pump again as like what happen before.

Yes, exactly. The foolers from Bitcoin Cash are now out of money to lure honest people in their scam, so the price can recover now. Finally !

I think this kind of fluctuation had happen several times in Bitcoin so this is no news.  This is also the reason why many government are hesitant and wanted to regulate  Bitcoin in their country to protect people of such movement and lose money.  But I believe this is normal with Bitcoin and manipulations from whales always happen.  After this we can see another series of  ATH for Bitcoin toward 10k dollar mark.

if you cant take the heat then stay out of the kitchen! this shit has been as or more volatile since its inception; this is far from the worst drop we have experienced, and it will be far fro the last (although I concede as we continue to become increasingly regulated, the volatility will start to fade away, gradually). with all the fact checkers and research budget that media outlets like this have access to, it almost seems to me like they are pushing an agenda when these unenlightened pieces that feign ignorance about bitcoin are published (you are write a piece about bitcoin but yet dont use/understand it?) This isnt an example of that, this is just stat reporting in an article, but I mentioned that to make the point that the media, and its lax/sensational reporting about bitcoin, is partially responsible for the price (the volatility, at least).

sliding price for over $1000 is not normally happen if theres no huge pump happened. from $4k+ bitcoin price pumped upto $7k+ so dont expect too much that there will be no price drop happens. bitcoin price jump for more than $3k and drop for only $1k, this jump totally affects all people/investors/bitcoin hodler and gain/have more negative thinking for just this drop. lol  ;D how many times that bitcoin proved/proven it self that its own price can be more value than before?

Don't believe that nonsense. Governments don't care about the safety of people's money. They only care about how crypto allows people to step outside their controlling governmental system. Regulations are the only way the government can somewhat control certain aspects of this market, but people are too easy of believe that it's done to prevent criminal intent and such. Sure, to a certain extent that might hold value, but that by far isn't the main reason, which is something that people for once need to understand -- the government is only out to protect itself against something that can't be banned/stopped.

The law of supply and demand of economics applies also to bitcoin price increase or decrease which is why price of bitcoin is never consistent it never going to always fluctuating nor depreciating it depends upon as user regarding how we use and consume bitcoin if we always buy and never tend to sell bitcoin then it's probably not going to increase. Which why we should just calm down and evaluate the movement of bitcoin to make our move and formulate a hyphothetical decision.

This is what makes everyone curious and interested in bitcoin, a lot of unexpected things, I'm sure this is not from speculation but purely from the use of bitcoin, usually the end of the year the price will drop because of the moment of Christmas and new year.

For every pump there is a dump, this has been the cycle of bitcoin ever since I guess many already expects this happenings before I used to get worried whenever the price goes down then I sell my bitcoin to recover some loss but now I realized that this is just a normal activity and sooner after this crashed bitcoin will go even higher than it was before. This fluctuations is what made bitcoin today so I better invest while it dump to earn when it pump.

This is true if you believe in the long term story and potential of Bitcoin. Unfortunately, people today don't have patience. They look at Bitcoin like a get-rich-quick scheme. If you do that, then you eventually will get disappointed and disillusioned.

There is nothing wrong in what is being faced and even the news because its normal to everyone who has been active in the bitcoin community and has always keep to the basic rule of not going in more than what you can afford to either lose, or leave long term but at the same time, I wish they can publicize news like this to the outside world in other to send two messages:

a. Its not all rosy in bitcoin and everyday is not all about upward trends, new all time high, record breaking price etc.

b. Bitcoin might not actually be a bubble because it falls and rise. It fell more than $1000 in 24hrs, it has gain $500 in 48hrs. These are important messages to be put out there and not only about how price increase beyond understanding.

It is approximately 6300$ at this moment. But the thing here is that we should hold or if possible, invest more into Bitcoin to take advantage of the backdrop on its value. It is indeed unfortunate to see the market price of Bitcoin falling, quickly. But as what usually happenes, a week after dumps, its value will again climb its way up.

If you sold your Bitcoin last week, it's time to buy them back before it jumps back up. $10,000 BTC may be coming sooner than you think.

https://www.cryptocoinsnews.com/not-going-to-let-it-go-to-zero-cme-chief-downplays-fears-ahead-of-december-bitcoin-futures-launch/

https://www.cryptocoinsnews.com/100-billion-hedge-fund-man-group-plans-to-add-bitcoin-to-investment-universe/

https://www.cryptocoinsnews.com/billionaire-bull-novogratz-big-money-is-coming-to-bitcoin-real-soon/