Bitcoin Forum

Yesterday, bitcoin, which is the most popular and valuable coin has dropped 6.15% so as a result of this, bitcoin is now $10,256. Earlier, in a one hour trading, bitcoin's value become $9,481.45. What's happening? What was the issue of binance because they're saying that they'll investigate because users are having issues with their funds?

I think its more of adapting to the other cryptocurrencies. Just like our funds and or savings. We do not just put everything in one place but we are investing it or keeping it to other investments. I think the effect of this massive deficit is due to diversification and rising of other cryptocurrencies.

i think you made a calculation error but in any case 6%-10% drops are really nothing for bitcoin to even be considered a "drop" they are usually normal ups and downs.

maybe Binance was a part of it but i believe it was mostly the same trend as before as price keeps going up to near $12k and drops to above $9k. it is stuck in this range for a while now.

the more you are worried  the more investors will join to make impact on price .

if you are new to bitcoin and saving you have to be mature .

I think that what happen with bitcoin drop has something to do with the Binance issue wherein withdrawals are being halted and then the negative news may have escalated all over resulting to sudden drop of bitcoin's price value. Negativity really is a fallback where it immediately resulting to the impact in it's price. Hoping that this will have an immediate resolution to hold the continuous drop in price.

Most probably the Binance issue has something to do with the recent dip plus there this announcement from SEC saying crypto Exchanges must be register with them. (https://www.cnbc.com/2018/03/07/bitcoin-just-tanked-below-10000-after-sec-says-crypto-exchanges-must-register-with-agency.html)

And as a result, A Japanese Bitcoin Whale Has Sold $400 and that's just the start (http://bitcoinist.com/tokyos-bitcoin-whale-has-sold-400-million-and-thats-just-the-start/) which causes a domino effect, pulling the price below $10K. That's how someone as big as one whale can significant put a dent on the market price.

The fuds are starting to go out again and there probably another crash with it also. If the price drops continues for a couple of days it might be a sign that a crash is coming.
We should always prepare ourselves whatever happens to bitcoin. If we did not know the risk when starting in bitcoins then we could be much in a serious trouble.
Our minds should be prepared for the psychological stress that the low price will give to us.

That's not a crash, that's a correction.

You need to understand that there are bots out there that trade on keywords, so as soon as the news wires were saying the word "hack" in connection to Binance, they sold.

It's the market.   Everyone who sold at $11k caused the dip and many of us are buying back in now.    That's how you can make some serious profit these days.   $1500 spread x ** coins and by the end of each year, you'll have made millions while people are still sitting and praying that btc will get to 50k, 100k, 1m, etc.

another unfortunate use of terms!

a bitcoin crash is a price drop that is at least bigger than 30% price drop. so in other words this recent drop could have been called a "crash" only if price went down to at least $8100 which is a very long ways down. and there are not indications of such drops happening.

Bitcoin has undergone a sell out due to SEC statement, which is small wonder, considering that lots of large trading platforms aren't registered as exchanges with the SEC.
https://www.sec.gov/news/public-statement/enforcement-tm-statement-potentially-unlawful-online-platforms-trading

I am also worrying about my bitcoins because it seems that the price moves down and my capital is lose already.
As of now, I am checking the possible reason why there is a fall of the price. Because last day, I got an information that bitcoin used as payment for establishments in Japan and Airlines in Taiwan. So, we expect that the price will go up.

All funds are safe Binance CEO Changpeng zhao announced in twitter so it will again normal in today so do not spread the negative thought in Binance. Some hacking issues are occur but all the funds are protected so we don't worry about the anything in trading sites.  

Yesterday I saw news about Binanc exchange by hackers, leading people to not normal, then the bitcoin collapse happened, its price dropped a lot, people think Binanc stolen seriously affect the price of the bitcoin , people have become panic

Binance is the reason why the fall of the bitcoinprice happened yesterday evening. Some users reported funds spent in an unauthorized way from their binance account. However these users fortunately are not a lot so binance immediately started an investigation and disabled all withdrawals until they know what has happened.

This just gave a boost to bitcoin price to go down because a 6-10% fall is something that happens almost everyday with bitcoin. We are in the month where usually bitcoin starts going up in value so we should be patient and not worry for small price corrections when we know that one of the characteristics of bitcoin price is volatility.

It is now 8% drop in price but cannot be still considered a crash. There's a lot of possible reason why the price goes down this past 24 hours, there is this binance hacking incident that maybe the reason why people panic to cash out their cryptocurrencies on their platform. There is this Japan and SEC regulatory concerns that might also take a hit on the price of the market. And the last and also I think the real reason why the market is dropping is about this japanese Bitcoin whale and also a mt gox trustee "Nobuaki Kobayashi" that announced that he sold huge amount of Bitcoins and still have a billion dollar worth of cryptocurrency to sell. Honestly we have seen a lot of this (huge sellout, hacking, regulation issues) but Bitcoin still proved that it can recover. So I won't panic.

every time this happens its a correction so be calim and enjoy seeing rate goes up in coming 2 weeks

I reckon BTC price drop is related to Binance news ...curious to see if we will experience another drop or back to 11k ... hopefully not another drop.

It's just natural mate. If you're new to bitcoin, then try to make a research on bitcoin's price history from the start and you'll see that it is very common for bitcoin to go down at that rate.

The issue wasn't with Binance but the automatic trading APIs which got hacked and altcoins of people was automatically sold and bought VIA coin. This resulted in almost 10x jump in price of VIA coin. Due to this, the news of Binance getting hacked was circulating and that did bring a 15% drop in BTC value. But the price is again recovering after the Binance CEO clarified everything on Twitter.

You were right, being mature is very important it is really needed in every decision that we are make and it is very important specially in terms of business and terms about money, because bitcoin is not a thing that you can joke around it is a matter of shaping your future.

The 6.15% is not totally drop when you said drop it is almost 75% of the price goes down but it doesn't happen, it is normal to have an up and down to the market. The issue on binance regarding on the people I talk too, their alts sell at lower price there is a lot of people happen same scenario this is the news yesterday on the binance it is phishing I hope that it is fix now.

Yeah, I think it is due to Binance issue. However, do not worry - it is local dump and BTC price should be restored soon  ;)

This latest drop of bitcoin value which was like almost 10% depreciation was said to be the affect of binance having issues with security. It is quite alarming andnit made other investors panic sell their btc. I know that binance,  being one of major exchange are now finding solution on this matter with  use of most advance technology. But so many still hold on to the fact that this is temporary only and bitcoin will surpass this and will soon pump again.

Man, it is so frustrating that the whole marked is vulnerable to ONE exchange site. Maybe cryptoworld is still so young.

Binance already said nobody will lose any money, they reacted fast enough to protect people's money. I think the SEC

announcement might have had a impact and also the Mt Gox trustee that are selling 1000's of coins to reimburse the

creditors. Why would you want to buy expensive bitcoins now, if you know someone is dumping 1000's of coins and this

is pushing the price down? Everyone is waiting for the "Bargain" bitcoins, when the newbies panic again.  ;D

https://blockchain.info/tree/2480962