Bitcoin Forum

What caused this sudden downfall? Anyone has an idea?
It seems Bitcoin and almost all alt-coins lost value today

I think all cryptos are tied to bitcoin, so if btc goes down, they go down as well. I think nobody can pinpoint why exactly bitcoin fell, but the assumption is that we entered a small dump cycle where a large group of people cashed out their coins suddenly due to the high price, which pushed the price down.

all altcoin down because btc down ,  and i have opinion about this for mostly coins
- Btc up , altcoin down
- Btc down , altocin down
- Btc stable , altcoin up

that just my opinion on mostly coins

The volatility of cryptos is something to wary about. It is the nature of currency trading. It must go up and down. Something could just spike up the prices again. For today. I have not heard of what may have caused the price drop.

maybe, but  there are other political and economic reasons.
For me i think the first reason is the supply and demand and the financial value for market cap
https://coinmarketcap.com/charts/

this is an expected correction to the recent pump to 11k$, it was very well expected at some point because people started to sell to gain profit, i don't think it's gonna end very soon, at least another week of instability and then will grow back (steadily or quickly we can't predict).
It's normal and a lot of people were waiting for the price correction to be able to buy BTC at a reasonable price.

Currently down 21%

It always happens when bitcoin price is pumping like crazy bull. Every altcoins are bleeding.
Cause some traders sold their altcoins just to buy bitcoins.

Indeed, it was expected after such a pump, the "bubble" is slowly bursting, it has lost more than 20% of its value the past few hours, instability is expected for the following one or two weeks at least. Unfortunately I didn't get my transactions confirmed on time to sell at $11k, not planning to sell any right now, will wait instead.

Well, altcoins prices are in harmony with bitcoin's one, so we need to analyse the fluctuation in BTC value : referring to condesk , https://www.coindesk.com/topped-out-bitcoin-flirts-with-short-term-bearish-reversal/ many press sources has talked offensively about Bitcoin ( RT, Huffington post...).
But, can this make Bitcoin falling down so fast ? Or it's just an excessive correction?

I don't know were are you looking at I don't see the most of the coins losing 5% are a few fluctating yes,
but only a few on above 5% I'm checking @poloniex.

Check www.coinmarketcap.com

I really believe it is the fact that people are shopping and impending Holiday is impacting people from investing right now.

it is normal to lost 5-20 percent value of any Crypto daily because this Crypto not of control and only depend on demand and supply.


price will rise soon every time down

Welcome to the crypto currency world ,this is a natural thing in the market and there is nothing surprising,you will see fifty percent increase or decrease on a daily basis and if you are really smart you could make a good amount of money trading ,looking at the majority of the coins the market is recovering and the price of bitcoin is still moving higher.

Price of other coins falls because there is a slight fall in the price of bitcoin and investor who were doing in altcoins they simply cashed out their money because this time is purely favoring bitcoin buyers and no one will miss such a lucky chance to buy bitcoin at some low price and in future this may occurs often because bitcoin prices will go up high and then fall a bit and altcoins will also be in pump and dump situation.