Bitcoin Forum

What's the reason BTC dipped quite hard today? I didn't hear any news or recent changes in the landscape, so what made it drop? Whales cashing out or something?

I wonder if this huge dump goes under 200O USD what will happen? Will there be some mass exit and panic from everyone and will everyone be running to Ethereum or other blockchains instead? Am curious to see what will happen now over the coming days.

Could be this!

http://www.cnbc.com/2017/05/25/bitcoin-price-correction-record-high.html

Exchanges manipulating the market with pump-dump was never something new on bitcoin scene, people should continue to hold and not panic sell, that what would kill the price in a matter of hours. We are doing great, we should continue to increase with stability If we want bitcoin to be mentioned in the news in the next few weeks, that should bring more attention and eventually more demand and even a higher price.

Goes to show how the media can influence traders...

It could be anything. There will always be idiots reacting to the media and panic selling at the smallest sign of a correction. It takes 1 whale to panic sell, then a bunch of idiots see news like these during in a $100 correction, which as a result creates a panic selling period. It doesn't matter, the market will recover, and we'll see soon once again people that were on the fence on jumping in, crying about not having bought the dip.

There's always dips and corrections. Always.

I saw that article and knew it would cause at least a ripple.

But yeah martkets move up and down all the time. They can't always move up. Anyway remember that you buy in the dips.

The price is too tempting to some big investors not to sell, so he probably dumps it and take profit. We have spoken about $2000 is the mental barrier for others to sell, so maybe what we are seeing is $2500 as set as new barrier before selling their bitcoin.

This is just market correction, it's normal and it's meant to happen after a huge price increase.
Aren't we still sitting at $2400 though? The Coinbase rate is $2592.

There are too many short term day traders that want to take daily and weekly constant profits. So many of them now entering and doing margin trading also so this is making the markets up and down all the time nowadays. I do hope BTC remains over the 2k USD mark for now.

Exactly

I agree if we see a sustained slump and large volumes moving we could see a push back down.  With all the talk of segwit on the cards. might be worth riding the waves for a bit in the hope for that one killer wave.

https://bitcoinmagazine.com/articles/bip-148-and-bip-149-two-uasfs-activate-segwit/

Exactly ! Look right now Coinbase. Coinbase is currently down for maintenance. And it's happen often, if not each time, there is a big change in the Bitcoin price. But wait, it's not the only one. Another exemple, Kraken. Kraken right now is so slow, I get the cloudfare page every 5 minutes. Bitcoin Exchanges Kraken, Poloniex To Be Scrutinized For Possible Insider Trading, Manipulation (https://cointelegraph.com/news/bitcoin-exchanges-kraken-poloniex-to-be-scrutinized-for-possible-insider-trading-manipulation)...DDOS or something else I have no idea, but for sure there is something dirty under this

THREATS OF CHANGE IN BITCOIN PROTOCOL

Does the community here read things and are blind to the fact that most 'changes'/'implementations' to bitcoin protocol are trojan horses to put Bitcoin to death?

Bitcoin is the best working decentralized global store of value that can be simply easily transmitted across the world. In its current form: It is superior to Stocks, Gold, and Real Estate.

Why do you think banks/competitors are looking to change bitcoin?

If you let banksters and the ignorant change the code, you will witness the writing of history of bitcoins demise...

What do you expect from that? Bitcoin have run from $1200 to $2600 less than a month. There will be greed people will sell bitcoin for their money and start for another round to collect more bitcoin. No need news for this crash

Yes, I also remember that once there was a significant correction, Coinbase went down. Though it is not quite clear what is the cause and what is the effect here. The price might have dipped because of Coinbase going down since people are afraid that this wallet might have got hacked finally, and this raised a wave of panic selling. Anyway, after they started charging fees for sending coins I stopped using this wallet, so no regrets, either

Tomorrow will tell us in what direction the wind blows

Greed went too far and Fear took over.

It is just a small correction. The exchange rates have increased by around 150% during the past 2 months (500% during the last 12 months), and therefore I believe that a correction of upto 30% may be possible in the near future. A lot will depend upon the luck.... If you could sell your coins before the correction, then you can increase your holdings of Bitcoin.

Lol little deep bro is panicking already. Don't worry too much bro, Bitcoin is heading to $3000 and above.
Such fluctuation happens once in a while.

There is no other reason than some people are cashing out.  If there is no people selling then we cannot see this dip.  Though some consider this as minor correction, and other think it is whale cashing out, the reason is still someone sell their bitcoin stash probably shorting in hopes that bitcoin price will crash.

I agree with them, it's just a matter of people are selling out and don't want to miss the action of getting some profit when the price was at the new ATH. And yes, it's only a correction and we are already seeing it a lot of times that when there is a price increase next to it is price decrease and the cycle goes on.

In the past, Bitcoin went at least ~4 or 5x higher than the previous Bull market mania levels.
At seriously higher prices you cannot expect the %'s to always repeat.
No one knows for certain if the price is headed to $4,300 or $543 and that is only one reason the drama is so exciting.

Stay tuned for the next episode when we find out what happens to Bitcoin, and if Trump is allowed to re-enter the USA!!  :D

It's just a price correction. It's bound to happen after a period of huge price growth. I wouldn't worry too much about it, and I would go as far as to tell you to buy more Bitcoin.

Corrections usually happen after the price goes up and up, while traders hop onto the bullish train. After it loses momentum and people realise that it's overhyped, one person serious and everyone panic serious, causing a chain reaction.

Well, this is just market 'specialists' trying to predict future price and reason behind the dip, using technical indicators created for something else.
With bitcoin, a totally explosive asset, Fibonacci Retracements are not that obvious, and other technical signs are even worse.
Good luck with evaluating RSI of BTC - when this indicator need to be measured over 14 days (usually) to be accurate.

The question is how long this correction is going to last

And how far (low) the price is going to go. I hope everyone here understands that the price can plummet as fast as it climbed first. So don't get surprised when you will see prices below 2,000 dollars per coin in a few hours. We will see who has been swimming naked (as per Warren Buffett) and whether the recent rally had anything behind it propping it up beyond sheer hype and greed

I wouldn't call that a large dump at all, we are still at $2500 even after the ''dump'' and only a very short while ago people were thinking and saying when will we ever see $2000.

A lot of people would of taken profits I would assume yesterday, just keep holding.

People will not suddenly leave behind all the bitcoins as many people are frustated about the  transaction delay and it is even taking a day to get confirmed.People are happy about the hike and the price of bitcoins would be correctly and it would rise again in the next month.

"Bitcoin could see a 47% correction, but some say it's going to $6,000"

I see it $6000 in a few months.

what goes up must come down... but will it eventually go back up stronger ? I'm betting it will

We had a crazy run up the last few days. The rise was almost parabolic. So I really appreciate this correction. On Bitstamp it was $497, so about 18%. That's of course quite some money. But it was necessary if this uptrend we are having shall continue.
Possible we see some more downpressure before moving up again. With Bitcoin you never know what's going to happen next.

Looks like bitcoin have been dump yesterday and his movement has been brake up by little correction but surely as we see the price rise will continously occur unto this and might we can see some great jump and prediction will come true at this point.

While others are so busy looking for a reason whats behind today's sudden dip, others are taking advantage of the price and buy some discounted coins. For real life traders its easy to know whats the reason why there's a sudden drop of price of a certain stock, while in Bitcoin world where price changes every other minute, its more important to decide if you will buy or sell at a certain time rather than ask why it dropped.

I was also excepting a correction, but didn't excepted a big one as 600$. I have been very surprised how fast the price failed so fast within 1 hour. A 200$ correction, ok but OMG 500-600$. Right now at 2500$, I except another correction but not below 2200$. I am waiting Monday and the next week to see how it goes
I also believe it's the last moment to buy your Bitcoins rigth now

I think it was a natural dip to establish equilibrium in the sudden demand and supply in the market and so people shouldn't panic but rather maintain your support and appreciation of Bitcoin andvwe will all be rewarded in due time.

I've been telling that from day 1 (or 0)

But no one seems to be interested in strong theory backed up by hard facts and fully applicable in practice until it is too late and folks get burned. As I constantly repeat, we should expect higher volatility with prices rising, and not only in absolute terms (which should be straightforward and evident to anyone) but also in relative terms as well (i.e. in percentages). The reason is pretty obvious and simple too, higher prices are only possible with supply running dry but this also greatly contributes to price instability, i.e. smaller changes in supply (in either direction) start to affect prices a lot stronger

http://s018.radikal.ru/i514/1705/9c/827865470595.jpg

Some learn it the hard way, some cannot learn it at all

I don't think the conspiracy theory that the exchanges are manipulating things holds.

How about, they've just had an unexpected increase in people signing up and logging on, which they didn't predict (because who on earth predicts a 100% increase in customers in a single month, which is what Poloniex has experienced?)

well this is what happens when the market is small! the orderbooks seem big when you look at them but with a lot of volume it is easy to eat through them, and that has always been a problem with bitcoin. it can easily go up and down in bit sizes.
but the good news is that market becomes balanced so fast because although the orderbooks may not be that big but there are still a large number of traders there to take advantage (sell on a fast rise or buy in a fast dip) as we can see from the fast come backs.

p.s where do you see a $600 dip, i can only find a $507 on coinbase, 531 on bitstamp and $549 on bitfinex which is understandable since there is no deposits on that exchange anyways.

We should maintain a stable level bitcoin so we really get the real benefits because it's just a correction, and we've seen a lot of times when there's a price increase is actually the price reduction and the cycle continues, it really is necessary to maintain stable

This dip was expected as the price went one sided up so their will be some profit booking and it happened and now back it is going up.

No one is sure what is going to happen. Some says it will go past 5000$ and some says it will move back to 1500$ as soon as market faced a panic sell. But then if it dumps, investors going to buy cheap again and pump it to gain profit. This thing will keep on going like this and only a mature mind will survive this game and wont sell at loss and wont miss a profit opportunity.

Don't worry. I speculate that it is just a price correction. Such dips usually occur after a price hype as we have seen over the past month. The best course of action is to hold and buy BTC.