Bitcoin Forum

It was $770+ a few hours ago and now we are heading down to $720 (and dropping). Any possible cause of this sudden drop? Any news?

Relax, this always happen and get used to it but for the passed few weeks its been climbing on weekend so again dont worry, if it drops to $700 were still fine with it since we are still approaching halving. Just keep those coins tucked somewhere and hold on to it. $800 is just right around the corner.

Thanks! I am not too worry about the price- I am quite confident in the long term.
I was just a bit nosy... sometimes the sudden drop in price may indicate some "insiders" got to know some negative/positive news and take action before the news reached the general public.

it looks like it is your first time seeing a price rise, and trading.
when there is a sudden rise, usually it is possible that there is a sudden drop down smaller than the rise right after the rise. it is because people are selling on top to buy back again for day trading kind of thing.

Maybe user's panic selling can make an effect on this price because they only want to sell and sell or maybe some people selling on top price but buy again on lower price.

http://www.cnbc.com/2016/06/17/live-uk-referendum-campaigns-suspended-after-mp-killing.html

It looks like there might have been some kind of attack against a UK politician who was pro-staying in the EU. According to the above blog, this might sway some voters to vote to stay in the EU (although I believe this to be speculation and not based on facts).

I would speculate that the UK leaving the EU could potentially wreak havoc on the financial markets, which would potentially lead people to flock to bitcoin

it's back again to $740 currently and actually i was never know why bitcoin prices down and rise up with very fast may be because we're pretty near to halving that's why the prices looks very unstable or may be this is manipulate market but i don't know for sure

Its a normal thing, due to the halving news the price will be unstable so you will experience this kind of things
So if you are doing trading you need to be more careful for the speculation

To be honest, no matter how good it might potentially be for the bitcoin price, I hope the UK does not leave the EU.

It will wreck millions of lives of the voters without them even realizing it, as well as a lot of comapanies working with or in the UK.

Bitcoin can grow without the doubt surrounding the UK.

Most likely the drop was just a correction that is always going to happen when something shoots straight up in the air. in 24 hours view we are still up, it only corrected to the price it was 12 hours ago.

I have long suspected (since shortly after the financial crisis) that both the EU and the Euro will not survive over the loan term. I believe that there is too much power at the "state" level and that multiple countries sharing a single currency (which also forces them to share a monitory policy, and to an extent fiscal policy) while maintaining sovereignty  will not work. Just look at all the countries that have attempted to peg their currency to the US Dollar - it almost always ends in catastrophe and never ends well. The Euro forces stronger economies to bail out the weaker economies while making the economic pain of the weaker economies greater.

I think that a "brexit" will likely cause a lot of economic pain, however over the longer run, the people of the UK will likely benefit from not being part of the EU (especially considering that leaving the EU would put the UK all that much farther from adopting the Euro). I would say the same about the dissolution of the EU (at least in it's current form).

It has been fairly widely speculated that the price of bitcoin has been increasing because of the weakening of the Yaun by the Chinese Government, however it is also possible that the uncertainty behind the UK leaving the EU is partially to "blame" for the recent rise in bitcoin. I would note that the early 2013 bubble to ~$250 was caused by issues regarding Greece, and the potential for Greece leaving the EU/Euro, and was popped when major crisis was adverted, and it was determined that Greece was staying in the EU/Euro for at least the near term. I think we also know what happened a few short months later.....

this small drop happens with all stocks / securities

anytime something doubles or more in a short period you
have to expect some sell off / profit taking.

yeah but the new bottom will be higher than $430, so i don't mind any crash, as long as we can establish each time a new higher bottom...

The dip is very normal. The bitcoi price deserve a good correction. It could even drop to $650 and consolidate there.

Already gained 15$ profit even without doing anything ,then sudden drop ,and boom its gone. Some holders did not make it till the price goes to 900$

Common thing with crazy price swings. We've been in a similar situation a few weeks back with around $590-$620 ranges. Probably some people taking off profits and buying in again, or some nasty whales shaking off some weak hands on their radar.

Yeah. I have a feeling that the new all time high will be somewhere past $2000, and the new bottom to never go below $600.

Yes as long as the floor price is still within $700 were fine. I know sometimes the price of Bitcoins really us scratch my head like what happened there, now its $715 preev that's more than $50 drop from $770 9 hours hours ago, but if you look at it the climb of Bitcoin from $533 on June 1 to $770 earlier today which is $237 difference is really interesting.

The dropping continues and on its way to 716  down ,,hope it will stop now.

It was happen earlier in just a matter of 15 minutes and bouncing back again to at least $20 in the same duration also.

Well it just stating us one thing, "take advantage of that shit dip".

I would say time to buy more coins as I expect this weekend there will be another pump for Bitcoin. Three consecutive weeks we have seen a sudden climb of Bitcoin on a weekend which is not the usual thing that happens on a weekend. Pump of coins happens on a weekday but I still wonder who is or what is the reason of behind this pump. $727 now on preev

I think it happens because many users start to sell their bitcoin and it continue to drop because of the cause of panic selling. I hope that bitcoin will recover that drop and convert to a huge pump.

I was saying just yesterday that it goes up too fast. I'd rather see a slow and steady increase than this roller coaster shooting up and down.
My guess it it's caused by a whale selling a lot, then some panic sells, after which it normalizes again. Halving is still coming, fiat is still being printed like crazy.

That's just happened. We are now at $732 again. Things seem to be a little bit crazy when everyone's awake, and goes silently creeping downhill when almost everybody is asleep. I think it's good that there has been a small correction that just happened to test how would everybody react.

And were back in the right track,a sudden dropped means a new high all time price.
Whales are done selling and buy its buying time.traders wise move.

Hold and stick firm just a correction, there is never a wrong time to take profits. Dont let others lead your decision making we all have different entry and exit points, buying at 700 and selling at 760 or buying at 160 and selling 20% at 760 for a free ride. Remember why you bought bitcoins and build your strategy from there if the fundamentals are still good hold if not look for an exit.

There is no news people are just taking profits early from the expected sell pressure wt the $800 mark. I don't see it falling more than what we saw at 600 and 700. Typical but yes it was early and a little more than expected.

Maybe it is related to the crash in ETH? It is kind of a warning.

it's recovering, as we speak bitcoin is already heaidng to 750 again, i think the etheruem crash will make bitcoin stronger not the opposite imho, so prepare for another rally!

I think this is just because of many people are dumping their bitcoin because they are satisfied of the price increased.. well don't worry and don't panic to sell so that the price will stay at 700 value.. bitcoin still have a potencial to increase more because block halving is too far..

Perhaps has to do to with this, related with Brexit?

http://www.mirror.co.uk/news/uk-news/jo-cox-dead-live-updates-8207676 (http://www.mirror.co.uk/news/uk-news/jo-cox-dead-live-updates-8207676)

 or is it all about traders?

I see no as I don't see any related link or factors to that.

I still considered this is just a normal "carried away" move after dips to a margin of around $10 where it all started.

it might be due to the fact that some traders are afraid of seeing the stolen ethereum coins somehow get converted to btc, and then dumped causing the price to tank significantly. especially now the price has gone up to a 2 year high.

I think many users decided to sell now so that they wont miss the chance to get a profit but I still suggest to hold until next month to gain more profit with the hype we see.

Those variations are normal movements of investors and traders, You know, for that reason looks that price did stop, This time was not caused by any kind of news.

Well there was no news to account for the rise, was there?  The halving isn't news.   And there is no news to account for that drop.   It's just market forces in action,  that's all.  And as I write this, we're back at about 760.  Crazy.

The recent drop was expected. It rose too fast in the last 30 days. So the correctioin is necessary to restore the health of the price.

The life of a bitcoin investor is always intense, OP.

lol

But the drop isn't finished just yet. I wonder what the price will be before it starts going up again. I think it'll be stable at $500 and will start going up again after that.

well congratz to those people who bought at this price rather than being afraid. youll gain enough profit again. The trend is obviously going up last week but because people started to dump their coins this monday, it made others to fear that it was the top of the price of halving

I did not sell because it's close to impossible to predict when the price is peaking or when it's at the lowest.
Remember no harm has been done. Just follow the strategy you were having: Holding.

July, august or even december is way to early to sell if you want to get the maximum out of your bitcoin.

I will hold my bitcoin for many years. It is better not to sell. If you need money, you can use it, that will help adoption.

it's not related to that, but it's true, that manipulators like to take advantage of outside news, to do their dirty movements on the market

so it's about trading and casual pump and dump to accumulate more, from the whale, but they use external news to rise the success of their manipulation