Bitcoin Forum

Bitcoin Price Dives Below $9,700

January proved to be one of Bitcoin’s worse months in recent memory, as a variety of factors converged to erase the tail end of the asset’s remarkable 2017 rally.

But now all altcoins are crackdown..

Unfortunately, the flagship cryptocurrency does not appear to have shaken off those woes upon entering February, and growing regulatory concerns have reduced the Bitcoin price to a present value of $9,643. This translates into a $161.5 billion market cap and represents a single-day decline of six percent.

This dip is AMAZING.

I just bought my very first Ripple's and Ada's for really cheap prices. Bought it with Ethereum cause that's high now.

I'm now trying to get my very first Stellar. I felt sorry i didn't had these top altcoins but now i have a great chance.

We all know that at some point of time in near future Bitcoin has to grow and along with it will rise the rest of the potential altcoins. It's just a matter of time when before the ride begins. For all those who are buying now I would say you are getting the most precious opportunities to buy in this dip since it may never come back. I am sure once the bitcoin ride begins these prices will become a myth. Altcoins are now at cheap prices too and it's hard to say whether they will show some significant gains NOW or not. Altcoins had their great gains in the end of December and that is why they are giving out more dips now.

Interesting that altcoins today becoming red after BTC, not with BTC. Seems like some alts prices disconnected from BTC.

This dive gives us the opportunity to buy valuable coins at a low price. And I think that this is not the end. Panic does its job. But I believe that bitcoin will again take its positions and win new peaks.

One could argue that both ripple and cardano are actually still rather expensive right now. You need to factor in the total supply when thinking about whether or not a coin is at a good price.  8) 8) 8)

I also think that this Dip one cryptocurrency is the best option for investors to add their coins they like best. I also buy Ripple, Xvg, Trx, and Etereum these days. It's a lot more beneficial than buying BTC. Anyway, after May, all of these coins will start up. This is the nature of Cryptocurrency. 8)

I think that despite the fact that Bitcoin has fallen so low now, he will return and rise up pretty quickly. It is worth waiting for the middle of March, in my opinion it is from the middle of March that Bitcoin will start to grow again. Other coins will also go up with him. So do not be upset. Now there is a great opportunity to buy coins that you like.

I've heard so much bad news lately.
With governments planning to further regulate the cryptocurrency, facebook has banned the advertising of ICO, and more and more bad news is beginning to emerge, and the bear market may have arrived.

altcoins will continue to bleed for a while more. Lots of selling will continue in the market until the calm returns to the market and good news prevail. But good news will come soon and we will start hearing of updates to the ethereum blockchain, strong use cases of blockchain and countries supporting blockchain and crypto etc.

And when these good news come, we will see another big surge of crypto a marketcap of 1 trillion. This is just waiting to happen this year.

So sit tight and buy those cheap altcoins if you have not secure those coins u been eyeing..

Its time to doing something. If the prices always higher and higher , how we can invest? Now,Maybe we have oppurtunity to buy lower price and after long term profit more. This is not blood , maybe sugar..

I think they're gonna bleed for a while (maybe a month to go back up again).

Of course, it's a pretty good time to buy now, so as long as you don't panic in the future.

I agree on this. Fill your bags with your favorite altcoin.

We never know when will these fuds end and crypto currencies prices start to rise again. Picking up cheap coins as much as I can now.

It kind of sounds like you are quoting something else that somebody wrote but didn't give them credit.

Ok, here we go.
First off, your first sentence is just flat out wrong.  "Bitcoin's worse months in recent memory"? How on earth is this bitcoin's worse months in recent memory? I guess if you specifically only compare it to December, than it seems bad but just three four months ago bitcoin was valued at 5k.

Second, if you think concerns over regulation and "bad news" is what drove the price down you have no idea how market economics works.
For everyday people, it a simple supply and demand issue.  A lot of money was pumped into crypto in december and now people aren't buying as much.  That itself is a huge explanation of btc's value.

On the whale side, there were some market manipulations with btc future trading along with large scale price fluctuations with projects with large amount of centralized investors.

Oh, and by the way, this price correction is exciting and healthy.  The last thing I want is for btc to have a non stop meteoric rise.  It's already volatile enough as it is and price corrections help the entire market to stabalize.

Lots of negative news in the space driving those prices down - will they reverse?

Yeah, altcoins price and Bitcoin price are correlated most of the time, unlike what most people think. However, I think at some point altcoins will not be able to follow Bitcoin's performance, because you need much more than speculative value to maintain a multi billion dollar market.

Yes it is true, total supply in the market should be affected about the price of that current coins. But in fact, mostly coins was going dip at same time. I have no idea, is this about January negative trend or these could be discount month. When i have seen from bitcoin last few years graph statistic, it shown market will getting back positive trend after February.

To add to that, some people speculate that there will be another drop in February because of the Chinese New Year. 

After that, it'll start to climb again.

I've been following these prices for a month now and it seemed like a unique opportunity. Ethereum was still well above 1.100 so it was a great chance to use some of my Eth.

The thing is that even if you think they are still expensive now, the question is whether they will get back to their "more" expensive levels after a dip like this.

I think this is not the bottom. We might actually go all the way to 4000 USD. And if we reach those ranges, I think we will go into bear season that will last atleast a couple of years, so here's hoping for a price reversal.

It indeed is the worst month in last 3 years.See what has happen to alts will happen again if bitcoin falls again in future.Bitcoin is the core of crypto and people knowing crypto only knows bitcoin in the initial stage and once they get into this world than they find this alts.So if something negative happens to bitcoin,people losses their trust on alts as well,and not only negative things but if something positive happens,the alts follow the same.Still we can find something positive from this dip is it allows many investors to invest in coin which they have desired at very low price and they hold that investment.Once this period passes you will get great return from them.

The value of bitcoin is falling so the value of altcoin is affected. It is the right opportunity to all investors to buy crypto currencies and hodl. Wait until the price will increase to get a profit.

That's right, bad news always comes in a row. Starting from the announcement of the eradication of ICO ads on social media instagram and now the possibility of facebook and bitcoin prices continue to fall in early this February. I hope this bad news will stop soon and let the bitcoin price to rebuild.

India is the cause of this bitcoin dip as it was reported that she has banned cryptocurrency transactions. I Hope it will be a misquote as in the case of South Korea who later said the government was misquoted. Weep not people it will surely turn all right.

I'm sure that in the long term all the coins (out of the scams) will made X-s, but it seems like a long fall and I can not even imagine where it has a bottom. Maybe 200 billion total capitalization?

You should be happy because you can buy more btc within these dips,surely the market will bleed as most of the alts are going to react to bitcoin's movement because the only time that alts will grow when bitcoin goes sideways or stabilize.