Bitcoin Forum

I would like to understand the main reason behind the bitcoin dip/crash (whatever it may be). Currently BTC is trading at 12.5K on preev.com, and I am beginning to become scared as to what the near future may hold for bitcoin.

Is this a Bitcoin crash? Or is it a crypto crash too? Is it just the holiday season or something else? We can also see on coinmarketcap.com that in essence, almost ALL alt-coins are also down by a similar amount in %.

Hold or sell, what do you think?

PS: Please don't just spam this thread with:"Sell now, it will crash" or "Don't worry, it will go up". Base your points on facts that drive the discussion forward, not just general terms that have been already written down many times before.

Just part of volatility cicle, or may be it is the end of bitcoin, I don't know whats hapoen for real. I just hope that the price will rise again. Bitcoin still give us so many benefits.

Its a normal correction. Nothing to stress about. People sell for various reasons. Remember now that the whales and institutional money is in, they control the price right now. Infact we do deserve a correction, the price has been going up at a ridiculous pace. I wouldnt withdraw unless you really need the money. I am currently looking for coins to buy. So I have no plans to sell.

Should I sell or hold? Right now sincere advise needed.

Hold and buy more coins at low price  ;)
After holidays they will rise up again.

I don't think it is a correction. I think it is due to the obvious limitations of the coin, victim of its own success. The coin was not prepared for mass adoption (and I say "mass adoption" but it is very far from being the case now, obviously).
Fees (in Bitcoin):
2 years ago, 25 to 30 btc a day
1 year ago, 65 to 80 btc a day,
today, 150 to 210 btc a day, that's around +600 % in 2 years, absolutely shocking. It is way too expensive.

A shame because the concept of Bitcoin is great, but it is technologically limited.

I think the price drops on all the coins only in the holiday season and the beginning of the year later they will rise higher. the reason I say that is because at the end of the year people need money for Christmas and New Year's parties, so they sell a lot of bitcoin or other cryptocurrency for the end of the year.

To be the end of Bitcoin is to say bye bye to cryptocurrencies in general. IMO, the crypto-machine has just been started, and when Bitcoin's transaction congestion+fees have been adjusted, it would have to go up.

GTHO. (Get The Hell Out)

Is there a way to improve its technology? It is very alarming right now, how the transaction fees have ballooned and its transactions process get slower and slower.

I think this would have to be the case.


Possibly the lightning network is the key to this trouble, but that awaits to be seen as to when it will be adopted.


Why? Read OP please....

It is going down the same pace as it went up. I think it is just right, and where should really be. If it there was no crazy surge in the past two months, this is the price we should be in. I say hold because we already know how high we can get if we hold.

Yes, I agree with you. It's a natural step in the Bitcoin growth. Nothing grows to infinite, BTC makes 10 steps forward and 1 back. :)

People are starting to realize that bitcoin is getting much slower and the transaction fee is getting much expensive, it's what I see why people are dumping it. But, you might want to consider the time of the year right now; people are selling because of the holiday season, and other people might be panic selling because of fear.

If you are a true believer of bitcoin and other cryptourrencies, you will understand its nature by now. It goes up and down from time to time, try to look on its previous market for further understanding. If you just get in the train to gain profit and multiply your fiat, then I would suggest to make your own decision, whatever it maybe.

I am also a little bit worried about the decreasing of price. I think that people are just cashing out their money because of the holiday seasons, Christmas and then New Year. They need money for spending for the celebrations. For me, I will still hold it hoping that it will sky high again after the holidays.

I think there is nothing to fear about. Bitcoin will grow again. I think that this is just because of the holidays, after they pass everything should normalize again.

I agree that bitcoin was not ready for the surge of investors, If there will be a way to enhance its systems there will be no worries to anyone anymore.

I think you should hold. It's too early for cryptocurrencies to crash right now. Seems like a correction (bigger than usual, but anyway)

This may also be explained by the growing popularity of crypto; they are becoming 'mainstream'. And the early holders start to cash out, scared of what can happen because of this popularity

As long as the bitcoins technology is not fixed. More and more speculation will rise about bitcoin's crash. I think the fix is needed fast.

It's basically the Blockchain is flooded by an unconfirmed transaction, This strange thing happened right after some shit news regarding Co-Founder of Bitcoin.com decided to sold his BTC and buy BCH. This is obvious that there is a group behind it that spreading the FUD to dump BTC. This may what they called "Operation Dragon Slayer". But don't worry once they realize that crypto market will be dump as well, They will shitting BTC again. Expect new ATM after this Big crash. Keep on Hodling or Bag some cheap BTC!  ;D

Its nothing to get scared of, the fact is people had been stockpiling bitcoin for sometime now and one big whales cashed it out followed by every other trader who got an acute myocardial infraction (heart attack for those who dont understand). Thus the huge tumble that has happened.

It was bound to happen and I was also expecting this sometime around new year. Just that it happened earlier than I predicted.
It your choice. Not everyone has the guts to keep up with a crash in the assets and hence you have to decide what to do yourself. I am hodling btc for life.

I hope I did not spam. Let me know if I did. ;D

buy the dip or regret it later you guys.

Its been a normal situation of bitcoin that is expected that once bitcoin get on a high level expect that bitcoin goes down again and go back again to higher. Now i think bitcoin next week will be go on high again.

Some people are going to have some bad holidays indeed. I see this dip normal and I think the price will increase furthermore really soon.

So did he or did he not sell his BTC? I immediately called bullshit on that, but I have received no confirmation whatsoever from any other source. FUD is IMO real, people want to buy at a low price.

Today's drop in price is probably because people are cashing out their bitcoins before Christmas and New Year to celebrate the Holiday Season, thus according to me the best time to buy bitcoins for new investors should be somewhere between 24-31st December.

Buy Bitcoins for low price and sell for high. Price will rise up again after Holiday season, so you should buy more now, and your new year will start with a good profit.
Buy the Dip or Regret it Later

This is a very good moment to buy people. The prices are going down, this is the moment when smart investors buy. Just my opinion, don't take it as an investment advice.

I agree with you! I think also that the reason of bitcoin price dumping is because it is Christmas season. Lots of whales and small investors sold out their stocks and that's why bitcoin price crashed out. I think it will move up by the month of February. We should not scare if it will goes down because bitcoin price is volatile and we cannot anticipate what will happens time by time.

You did great!  ;D

I just don't want this to be a feast for sig spammers. Though I don't think I can really control that...

It's scary because it coincided with the massive transaction backlog, but the fact that even alts are down means it's probably normal market movement. Honestly though, if Bitcoin dies here, so does everything else. Altcoins can't handle much more transactions and suffer the same scaling issues.

While we're on the topic of the massive amount of transactions, it also coincided with a Bitcoin Cash pump and a Bitcoin Cash player making a move. It was Roger Ver moving his Bitcoins then, it's Oldenburg dumping now. This could be another coordinated attack. If it is, then things should blow over after a few weeks.

The problem is pretty obvious and everyone experiences it. But I think rich holders will give up butcoins that easy. Maybe those who are too afraid of losing some profits are the ones who will dump bitcoins. Or merely because of the Christmas season. After spending theyight build up again.
My point is, those who gained a lot from bitcoin can possibly remain, greedy ones won't. We are aware of its use and not just by holding them. It's is use as currency. Currency is payment. Occasionally it happens a lot. Don't need to worry about it.

In my opinion, the prices of Bitcoin has sudden many causes occurred as follows, first, this time coming Christmas so that people sell Bitcoin exchange money shopping. Second, the virtual currency exchanges Youbit Korea occupies the entire Bitcoin hackers also greatly affect the currency's exchange rate. The third is the Bitcoin Cash is Coinbase put to become an official currency in the world cryptocurrency so there are a lot of rumors about Bitcoin about to crash, This is the reason for the rate Bitcoin plummeted in recent times.

+600% increase measured in bitcoins, but at the same time bitcoin has gone from 200$ to 16000$ so the $ change is much much much bigger than +600%


I do not believe in those conspiracy theories.
It is much simpler than that. Many people are interested in bitcoin and the blockchain is just too slow to handle the increased traffic properly. That is why the transfer fees have become astronomical. Cant wait for the lightning network, which will solve the problem.
Hope it will arrive before it is too late.

I think the fall of Bitcoin price is due to the heated civil war between BitcoinCash and Bitcoin communities or it could be because holiday season
I still hold Bitcoin because I think it's too late to sell it when the price drops 23%

We are back to price levels from a few weeks ago. The price run has been insane the past few days. A correction has been long overdue. Holiday season might be a reason as well, people drive off on their holidays starting today, they want some peaceful stressless days without checking their high volatility investments all day. Something that is seen on stock markets as well.
I personally would only be concerned should the prices fall to a level from September 2017...

You can consider the BCH bull run as one of the reasons. But they also got dumped today with the majority of the alts.  But hey, we all wanted a fair correction in the price, shouldn't we be happy so that we can buy more of bitcoin?  ???
I'd definitely suggest you to hold, you could have sold and could have bought back immediately to gain some nice profit when the price was around 16-18k but don't do that now, it's risky. Support levels are firmly formed.
http://i64.tinypic.com/2w6bh54.jpg
This should answer your question. Basically most of the time when bitcoin crashes most of the alts follow. As per the image, 80% of the alts have crashed a few alts have gained here and there. Two major gains were in the XRP and KMD markets. Everywhere else it's not a good time to sell, but rather a good time to buy if you're a trader.
But bruh XRP❤❤❤. Sorry for the off topic and the spam here though.

It means, the season affects the price of bitcoin. Usually, people will sell their bitcoin in order to transfer to fiat and spend to celebrate Christmas and New Year. That's why the price down deeply. I hope it will recover by 2018.
Bitcoin Cash also is a great threat to bitcoin, I just thinking. I hope it will not change bitcoin because and be the global cryptocurrency.

There are many people who are cashing out,  especially due to the holiday season. One guy in reddit just became a billionaire and cashed out   ;D

OR, this can indeed be the long awaited burst of the bubble.

Yeah if you haven't sold out of your positions by now then it's too risky IMO. This is just a much needed market correction & things will pick up really quick at any moment. If you have money to invest, now would actually be a great time pick up some cheap coins. Remember, sell high, buy low ;)

Guys, there is no bitcoin dip - there is a market dip!
Believe me or not, since today I'm sleeping better!
That's kind of correction is needed and shows that it's not a bubble!

So be smart and buy at dip - that means NOW!

The possibility that bitcoin is suppressed by the altcoins is very less. Maximum of the altcoins are also decreasing in price .
 That may be a major price correction or because of the festive season. Another reason could be the Bitcoin network is currently facing some issue confirmation times are longer and miner’s fees for transactions are higher.

I dont think its a crash. This is the end of a year so people maybe cashing out to pay their tax debts, buying new year presents or maybe they are too scared and want to see what new year brings... don't worry, dont sell, buy more if possible (not a financial advise tho.)

That's what I have in mind too, almost every altcoin is valued against bitcoin and to USD, several times it's shown that when bitcoin climbs up and stays stable for a few days, alts would start catching up, but it would only take a day or 2 at most to see a sea of red with people panic sells everything.

For the cryptocurrency space, they can certainly grow in much peace as a whole ideally, but greed is the cause that people such as the Bitcoin LuCi Fer (Roger Ver?) and his minions constantly launching attack against BTC and spreading FUD every other day along with companies (who are unfortunately all about making money instead of pursuing harmony and cooperative development/growth of the entire crypto world as whole). These people won't stop because they take advantage of general public (new comers) fears and they'll do it over and over again since they have the resources to fabricate and manipulate the market and the FUD they spread and people will keep falling for it, thus needless to over-react, when you are at the bottom, there's only one way to go right?

It is ridiculous how people expect that after the sudden skyrocketing in the price of Bitcoin, it would hold out there! Truth of the matter is that no market ever works that way. After a market is overbought, it naturally reverses until it becomes oversold and the cycle goes on.  

Bitcoin have long been  overbought and except for the emotionally attached traders, this correction has been long coming and having to come at the ending of the year, when traders usually wind off, is rather a strong indication of what bullish pressure had been behind Bitcoin.

The development might be a crash and end of the road for Bitcoin for all the Fudsters, but the announcement of the death of Bitcoin is now nothing  new, my priority right now shifts to identification of dips and securing of more profits for 2018.

People with a lot of money invested found out that the Bitcoin network is trash. They cashed in on their huge profits and looked elsewhere to reinvest. Bitcoin loses near 50% value overnight and mass panic ensues over on Bitcointalk  ;D

My best guess is that people just want to cash it out at this very moment. Holidays is just around the corner, so maybe we can attribute this current "crash" to it. I initially thought that bitcoin crash because investors are testing altcoins market, but altcoin is also crumbling. So I deduce that investors want to take profit at this occasions.


Your choice mate. Personally, I have sold mine (everything) when the price surpasses $19K. I already taken the profits, but I'm getting back once more. It's really a perfect time to buy and because it's like a bargain. I say let's give the crypto's a few days, crashes are temporary, we all know that bitcoin has the ability to comeback and even go further from its previous all-time-high.


Just my .2BTC

It's just basically a correction since bitcoins has went up tremendously in the past couple of weeks. This is just a normal thing that usually happens with bitcoins whenever it goes up really quick. Two things might happen, it could stay at this level or it could possibly go back up to $20,000 and go past that level of trading again. Who knows, it's pretty hard to predict when it does go up and down.

Idiot.

Its a correction simple as that. The increase in media exposure and adoption from new investors was more than it could cope with.

Every time Bitcoins crashes, this kind of questions rises, no this is don't you worry child it won't crash or sell reply, just hold your horse's op, Bitcoin crashed last time to when segwit2x was announced, couple with Rogers selling his coins, panic was about to set In, just check the charts after every such news Bitcoins bounces 300 - 500% and so it shall. That's the history of Bitcoin, just look at the charts and you'll get your answer.

There is no particular bad news out there that warrants a big drop except one, and that is after a brilliant year some of the day traders are now taking profits, risky profits I might add. I have been here before and worse, in the early years where I held Bitcoin I nearly took fright and pulled out, I held me nerve though.

Bitcoin is just finding a new floor now, and once it does it takes little time for it to start rising again. The strong good fundamentals behind Bitcoin remain, have faith. I have always been buy and hold and am irritated, but except day traders . Put things in perspective and remember where Bitcoin was at the start of the year

I too agree with your points. The fees has gone up to an insane level which makes conventional banking transactions look good. Bitcoin initially started as a peer to peer decentralised currency system but the fees is taking it out from the main goal of being a currency system. That is the reason why people are preferring other coins like ETH or Ripple to transact funds pushing their price to the next level. The network congestion and higher fees are the reasons of bitcoin's price dip.

Not sure but one that affected is how media present bitcoin and other Cryptocurrencies to the people. After the sudden peak of bitcoin, I noticed that most media release "bubble issue" on bitcoin. That's why those who aren't really familiar with bitcoin withdraw their coins unexpectedly.

When the Bitcoin is reaching 20k, everybody is screaming is this too high. Its time for a correction. When it actually is hapening everybody is in panic.
I understand when you got in late, you now lost some money. Most of the peopel are still in the plus. I dont think anybody is really worrying.

Probably just a cycle since almost every December money is being pulled out of crypto then comes back in on January. Anyway, well see.
I'll just hodl.

We sold ALLOT for fiat in order to buy physical properties. Seeing almost 2000 percent returns in 365 days leaves little motivation to hodl. A good buy back in (if you care) is 11,000 USD. We won’t be buying back into Bitcoin or any other cryptocurrencies; they all needs time to grow up...

I am also considering the season we are in now, it is christmas and normally people will not care how much money will they burn, as lon as they can see everybody happy, when we breached 20k usd, the transactions we're already updated though it.has reached that high, there was more congestion, unlike before reaching 17-19k usd. One thing i also see, is an opportunistic approach to increase bitcoin cash, the founder of bitcoin.com, sold his bitcoins in order to increase the value of bitcoin cash, and the news on youbit, a sokor exchange, which the media spread like wildfire.

Almost coins are down, last 24h coinmarketcap.com/coins, volume trading includes Eth, Xrp, BCH, Ltc, Iota and many more was negative down. I'm sure this nothing related with holiday or Christmas coming. But i'm sure this because of the declining bitcoin prices and blockchain network busy for 1 week, many people are worried will getting stuck in same pending transactions. Constraints on bitcoin affect much of this, people starting to lose trust and turn them coins into fiat.

At the end of the year is usually often going up and down the price, when bitcoin is down there's nothing wrong we invest our dibitcon and seek profits at the time the price rises

The major reason for the present dip I will go with is the reason of people selling of to get fiat at this festive period. It is very well quite expected but the extent of the dip isn't known yet. I believe a balance will be when the level of supply meets the level of demand and maintained over a period of time. There are quite a handful of person waiting for the dip so as to be able to buy into Bitcoins again and also considering the influx of new adoptors which is increasing too.

What started out as profit taking for some people, ended up as a sell-off due to fear by new entrants who bought near the peak. Now, it's a chain effect with a strong momentum still.

It’s going lower; 19,000 was your profit zone. You will have to bag hodl for however long that is....

I think the reason the present dip because of people who keep on selling to exchange their bitcoin to fiat. It is very well quite expected but basically, the reason of dip isn't known yet. I believe a balance will be when the level of supply meets the level of demand and maintained over a period of time and more people will get into it.

I Agree to your opinion, as we have been through of lot of hardship that bitcoin have experienced before like China Ban, Segwits , forks, JP Morgan criticize bitcoin and many price correctionns but in the end i still believed that bitcoin will survive this another struggle and lot of crying babies will regretting again of why they have sell their bitcoin except for the buy low and sell high experts because it is very hard to apply this technique which need the power of luck.

A lot of good points, but this climate of extreme volatility by which Bitcoin has a reputation for means that half of the analyses will be right half of the time, and half of us will be right half of the time, depending on when we predict and analyse. It's almost like gambling, with the certainty of winning streaks equal to that of losing streaks.

But to add my own thoughts: this month saw the launch of almost unknown Bitcoin forks. To my knowledge, at least six Bitcoin forks happened in the past three weeks, or at least were trading as futures on a small exchange based in Russia (check out Yobit twitter to see). Now I know the community in general is tired with these forks, but perhaps the lure of instant money was too much for newcomers who missed out on BCH and BTG? Was the buying frenzy partially generated by people wishing to claim these fork coins? And the current dip partially owing to people who've already claimed and now don't need the Bitcoin?

The total price of these six forks on yobit trading is almost 3% of Bitcoin price. Not a lot perhaps, but a good block of instant "free money" for speculators.

You must understand that cryptocurrencies is not just another currencies - behind those are technology of blockchain. If you understand how it works - you understand what it gives to the world = a new ways of development in different fields of our society. Bitcoin is the base for all altcoins which brings to us new ways of communication, new ways of payment, banking, browsing, internet of things and etc.. How it can crush after that all? It is impossible.. the reason of price going down is simple speculation and people just need money for parties and gifts for the New Year.. It goes up in near future when the whales from wall street will change their short positions to long positions

Thanks all for your comments. It seems like the best I can do is hodl and wait.....  :-\

Hi,

Actually... Don't panic. Sell or hold, according to your long-term goal... But don't panic. This is just a normal reaction from the market after a period of sharp increases!

There are cicles on every markets. Regarding bitcoin, every one and especially specialists and traditionnal economists are freaking out.. Just because the bitcoin is something new and hard to understand if you only consider traditionnal currencies!

Conclusion: don't panic! ;)

Had the block size been increased from 1MB to 8MB we wouldn't be facing these issues now, I believe there is no FUD going on here at all but all the same when the fees stabilizes, we are going to see a jump in the value of bitcoins.

While I agree with your first point, I think that there is real FUD out there trying to push the price of BTC down to buy cheap coins.

Yeah, Bitcoin is entering a long long bear market again. The patterns are all there.

Remember leading up to the previous bubble that lead btc from $100 to $1200? It was all predicated on good news such as BTC mutual funds, Winklevoss Exchanges, etc.

When the good news actually came to fruition, the price just started crashing and BTC entered a long long bear market.

The exact same pattern is happening right now in every way. The Japanese exchanges are like the new Chinese exchanges, which reached a ATH before other exchanges, a nonchalant bad news was just the tipping point, etc.

Carbon copy of the last crash....

I don't think that will happen again. Now bitcoin is much more popular than that day. For years ago almost no one knew bitcoin. There were not many people waiting for lower prices to buy again. Now there are many people who missed the opportunity to buy bitcoin at lower prices. These people will cause the bitcoin to rise again very fast.
We cannot compare today with 4 years ago. Many things has changed.

Bitcoin major dropped out in price led other coins also dropping one by one. Many coins like Ripple ,ethereum , and dash dropping one by one. Now a very bad situation in market of crypto currency. We don’t know what are the reasons behind these. We don’t predict the future of any crypto currency as it suddenly rise and fall. But for bitcoin owners they should not to sell their bitcoins. The price at this level is very low. It will attract new investors to buy bitcoin. So try to hold in order to profitable in future.

Crash is at least 60%

Bitcoin price is low for 2 reasons:
1) Correction is happening
2) To attract more investors

Bitcoin has showed how much it can grow in short time this month and reduced it's price to attract more investors. No need to worry as of now and it's a part of business tactics. However, bitcoin correct is also a reason for dip. At this time you need to hold bitcoin since this is a time for buying and not for selling.

Each boom cycle creates another generation of new bag holders until the next boom. By the time the next boom hits, those holders are so eager to sell from the last boom that they fail to see the accumulation potential. They then sell into the latest boom, get FOMO, purchase again “on the dip” and then become the next cycle’s bag holders. If only people would realize that chasing short term gains always gets you burned.

Yes indeed it's purely because of correction and most of the users are selling bitcoin due to the high transaction fee and transaction time but we can still manager with the transaction time but not with the sky high transaction fee and i believe the reason for high transaction fee is due to correction and things will be back to normal in couple of week and this is not a good to trade bitcoin so as you have mentioned it will be a smart move just to hold on to the bitcoin and wait for sometime.

The main reason is because there has been too much irrational expectation surrounding bitcoin when it reached $20K.
Smart players cash out on other people.

The price of bitcoin has increased by more than 1000% in the year 2017 so I think this is the time for bitcoin to go to its average price. Maybe correction or maybe not. Anyway this is normal with bitcoin already and the crypto world. Let's just wait for the price to increase. Cheers!!

Not sure if that makes those are cashing out their money from the bitcoin but as far as I know that that's caused by the ripple. People are feeling tired caused by the bitcoin transaction fees was pretty ridiculous and then the fact that they are moving to another blockchain especially the latest fork of bitcoin just another scam with big pre mined coin.

Thanks for your nice complement. Yeah,I've seen before that many of us answer us by a common way,sell now,or buy..or hold them because the price will increase or going to decline. Actually the fact is these are the highest suggestion could be given.So,we all suggest like this way.Never mind.

You know the big whales and institutions are cashing in now.So,they wanna buy crptos at a cheaper rate. As they are kind of controlling the price of crptocurrencies,the price of them is declining.

Again,the holidays are a fact to decline the price of crptos.Further, people need money for different arrangements for the Christmas and new year.So,people are selling bitcoin and cashing out to fulfill their needs.So,the price is decreasing. I think theoretically it should be happen in a marketplace.

We all are hoping that the price will increase again in the coming year of 2018.It is our hope,not predicted and sure. We are holding our bitcoins.So,I would suggest you to fo so.But your decision is upto you.

Obviously its the holiday season. Howany people would think of putting up their money to invest in btc compared to those that will shell out for celebrations. Many will even sell btc they hold so they can spend it during the holidays. This should be expected and people don't need to worry of course

Dude, seriously!!!!

Grow a pair!

Life is full of risk, learn to embrace it and accept when you fail. 
The more you risk,,, and fail,,, the more you will also win!

Previously, I was really worried when Bitcoin was falling. because all Alt coins are also affected. But now, I'm just as confident because I'm sure that it's going to increase again. Bitcoin dumping is included in its System. So rather than being worried, why not think it's an opportunity to buy a bitcoin at a cheaper price.