Bitcoin Forum

is it all due to 1st August Bitcoin Fork??

It is the most probable cause.

Many Bitcoin users out there are afraid of what will happen on August 1st. "Will it split?", "Will it do a hard fork?", "Will the price crash?" or any similar question that is, still, unanswered and cannot be answered as of now. So some people, especially the new ones, are so terrified that they tend to panic sell when the price drops. As we come closer to the said date, we will encounter more of this. This is a normal scenario if we are facing an event that has uncertain results.

If there is anything worse than the expression of going down badly then I would go for it because of what is being faced now and from the look of it, it seems we are ready for another deep further and its because today is still 14th from here which means additional 14days to go which is still a long way to go considering what the price is saying now. In short, I feel the confidence expressed at the beginning of the month, has start to reduce drastically by the majority of users and holders for the fear of uncertainty.

Maybe people are exchanging their Bitcoins into AltCoins to wait the August 1, but not all of them. I think there are some big investors enjoying this situation and causing some panic at the market selling their Bitcoins, increasing the supply, so they can come tomorrow or so to buy the cheap Bitcoins and hold even more coins.

It's not possible the price continue dropping so hard for many days, as was said above, we are in 14th yet, so I think there are still chances to make profit before August 1. Let's see how farther this will go...

Automata.

The reason for this crash lies not only in fear of failed scaling bitcoin upgrade. Just take a look at every altcoin, they are all bleed.
Among top 100 altcoins price of more than 90 crashed I don't think it is simply related to bitcoin at this point.
One is certain for me though - people will dump altcoin and start to rebuy bitcoin because the low price of BTC is extremely attractive ATM.

Maybe some are scared on what will happen on that day, and decided to sell maybe half of thier total bitcoins and invest in an altcoin. But no one knows what will happen, just stay updated in bitcoin or you will be left behind

Exactly that's the point there and because of those speculations around circulating the internet medias people feared so much to hold at long term investments.  That's the main reasons btc price went down so bad nowadays, and price today is nearing to down at $2000 in the market. So don't ever wonder that btc will down of it's value, but expect for another huge pump at the middle of august this year 2017.

First, the good news. Bitcoin is poised for a big rebound before the end of the year most specially if there would be no split at all and things can get better for Bitcoin. The future remains so rosy for Bitcoin and soon it will lift up the whole cryptocurrency market to greater heights. That is the dream I have for now.

Now, the bad news. Well, we already what it is. The scheduled August 1 scaling event is affecting the market's mode as there is no definite answer of what will be and what can be. As we are all humans, expect fear, apprehension and irrational behavior to take into the whole thing.

When people are unsure and afraid, many would prefer to sell their share of Bitcoin and many buyers would just watch and see. When the demand is low and the supply is high then the value will go down.

the underlying reason is the fear of August 1. but the main reason why price has dropped this much is because traders are once again taking advantage of this situation. they short the hell out of bitcoin an try to make the most amount of money during the downfall to be able to buy more bitcoin at the bottom to once again make the most profit.

Is safe to buy by 31th July?

I have a 100% feeling that it is the main reason why the price is going down, fear from the hodlers, selling at it's finest.

No.

And by 28th July? Probably the price will be $500 then.

My thought is: only people that are somewhat serious about bitcoin know about the scaling change in 1st August. Newbie investors are not likely to be aware of it so much. In my view the lowering price is more about people who know Bitcoin will rebound and are trying to get more at a lower price, dumping hard in an attempt to make it go lower than the price they sell.

EDIT: Altcoins are sold for the same reason. They sell them in order to have more to buy bitcoin later.

Fear and uncertainty going forward so yes, the question now becomes how long does it go down how low does it go and when is the best time to go against the sentiment, the trend is your friend but how long do we go with that if you want to re-enter.
Not expecting much differences till end Aug

August 1, 2017 is a problem now. Many people who panic sell to see the news circulating in the media today. They are worried at that date bitcoin prices will decrease significantly. The proof at this time bitcoin prices have been seen to feel the impact. Maybe for some people to exchange it to the USD is a best alternative. They want to keep getting the same amount of bitcoin and get the same nominal total.

You sure about that? It will recover soon and you'll see that not all the time there will be a price increase nor decrease.
There's just a balancing of things in the market and this falling will be ending soon but no one can if that's possible to happen on or before July 28 or even August 1.

I'm sure it will reach $1000, but not $500. It's near $2000 after falling $300 in 24 hours.

And I think a small group of people (who holds too many bitcoins) is doing that, to create panic. I dont think there will be a hard fork, I think this is fake news.

Btw, I didn't sell any of my coins. Nor I will, since I want them to be used in place of fiat in the future.

I can bet that it won't be. If it is, I will sell my house (and my car and the shirt off my back) and get all in on Bitcoin.
Such an opportunity will never again arise.  :)

Last chances to see this price. Great buying opportunity!

I certainly agree with you, and let's not pray bitcoin will go down that much. It may split but I doubt it'll go back to $500 as its price. But well just see how far it goes down and wait till August 1.

I don't know next to nothing about other 99 top altcoins (so bear with me)

But I see people dumping their bitcoins and buying Litecoin presently. Somehow, I hoped that Litecoin would go down way faster than Bitcoin, so I planned to convert my remaining stash of bitcoins into litecoins (just in case, I'm mostly in the US dollar now), but it seems that it was not just me who had been looking for that opportunity. And instead of Litecoin going down in Bitcoin terms, it is in fact rising right now (not very far from recent highs Bitcoin-wise)! But I still hope for a minor Litecoin crash (at least, in respect to Bitcoin)

That's probably the least important factor. Apart from this, there are likely some of the recent ICOs dumping raised funds, but most of all, decline is just a natural consequence of previous rally.

There were shitload of inexperienced newcomers buying into Bitcoin with only one goal - getting rich quick. They're slowly losing patience and starting to realise that "Lamboland" is not gonna happen, so they'd just accept the loss and cash out.

Plus, as always, lots of traders are selling to buy back more at lower prices.

I just visited https://coinmarketcap.com/ . The market is bleeding, everything is in the red. Now might be a good time to buy some btc, but I will wait a few more days to see will it get any lower, a lot of uncertainty around the 1. of August . But I do believe bitcoin will survive this, can't be so sure about all those shitcoins though .

You no need to worry about bitcoin price now.If you want to buy a bitcoin means. It's the correct time.After August 1 ,you  may sell it at very good rate.You will get very  much profit in bitcoin. No one knows the price of bitcoin after August 1.So cleverly inverse on bitcoin today.

You do all this, and by chance, the Fork goes bad hard forks happen and both the forked coins don't work our and Bitcoin dies in few months, then what will you do? I hope this doesn't happen, I don't even want price to go to that $500 even if it's just for few days I am already starting to panic a bit seeing price below $2000 after i had got used to the 2500s

Yes, that is the fact that bitcoin goes down. Although knowing the problem, but it can not be resolved, bitcoin is in danger of being fragmented, so people need to make the right choice.

Hodlers never sell!
So this is false! It's weak hands and all the noobs who came here just for a quick buck and are not really interested in the technology.
Ask 10 of those guys why Bitcoin was created and what disruption of the keynsian system means to them.These guys will have no clue what you are talking about. That's what we're having to deal here with. The earlier we can get rid off them the better imo.
Let those guys play with alts or Paypal and Venmo.

Yes panic created after some guys spread the fud about possible hardfork on august.

Actually segwit activation is soft fork not a hard fork so this will not split the bitcoin network.

When segwit will be activated than we might see healthy uptrend on price.

to increase bitcoin performance it need to upgrade for increase  transaction speed.
It good for bitcoin future. 8) i not worry about the price, it will go to the moon after upgraded.

I would really like it to be true) I read a lot of news and they all panic. But no one can explain the situation. I also worry a bit. But I do not want to transfer my assets to alternative coins.

Big bag holders are just taking the advantage of this fork that is about to happen. They have been doing that before, just like the SEC and other stuffs before. Don't worry people this is going to recover soon, just endure the bloody red days and don't feel that it is the end as long as bitcoin is still up and on a thousand value, why there's a need to worry?

It is due to one and only reason. Due to August 1 and July end.After August 1 ,it price with twice or thrice the today's rate.People having idea of inversing of bitcoin may inverse now .No one had the doubt to inverse. They can inverse now.

most probably because of the august 1 drama. but for sure it will be a success so just hold and buy more. we could see bitcoin a really sucessful crypto currency in the near future.

I don’t agree I don’t think the price can go this much low to $500. It is not the same situation now earlier when the bitcoin price drop that much low was because the bitcoin was vulnerable at that time. Now the bitcoin is quite strengthened by the backing of governments by accepting the bitcoin. I am hopeful that the price can’t go below $1200.

No doubt this is now the time for the investors to invest in the bitcoin because everyone knows that in august it will be with better specs and the price will be increased as of now. I think the big investors will be happy at the moment for availing this high profit opportunity.

This is the reason that most of the people don’t understand the difference between the hard fork and the segwit. In fact those who really know about segwit and know that what will happen to the features of the bitcoin will never get panic of this stuff. People are scared of the hard fork and which even if will happen will be after six months of the segwit.

I think they are the one who spread rumours about the bitcoin and misguided people about the first august which created a panic in the users and so they started selling.
What we are seeing now is the result of the panic in the bitcoin users. I don’t know why people get panic so easy, even knowing it that bitcoin is becoming stronger.

Waiting until something actually happens is trading suicide. You want to be way ahead if you know something hugely negative will happen 6 months from now.

Bitcoin is decreasing in market value because there is fear of what the outcome of 1st August meeting would be, and that makes so many people to sell their bitcoin even though some of them are selling it at a cheaper rate as compared to what it would have been sold five days back. If you have not pressing need for your capital I will advise you to hold for the price will likely bounce back  $4,000.

Bitcoin was down due to the effect of segwit. Because of splitting that happen on August 1 all Altcoins and crytocurrencies will be affected. However I believe that after this segwit, bitcoin will started to raise again.

I believe that the bitcoin price will rise back again they are just withdrawing there bitcoin instead of holding them in exchange site because they heard that its not safe to save bitcoins to any exchange site before segwit activation done.
Hope that we can see more price increase because developers they are not doing wrong in bitcoin just to encourage other people to sell bitcoin and i think they are just upgrading and improving the use of bitcoin..

Yes I believe that the bitcoin price will rise back again.but they shows absloutly they are just withdrawing there bitcoin instead of holding them in exchange site and also because of They heard that its not safe to save bitcoins to any exchange site before segwit activation done. And conformly i said However I believe that after this segwit, bitcoin will started to raise again.

The reason BTC is going down is because it's about 30% more profitable for miners to mine bitcoincash.
Merchants, exchanges and miners are switching to the bitcoin upgrade called bitcoin cash.
Many people are still unaware of the upgrade and will possibly be left behind and lose a lot of money as bitcoincash is quickly replacing bitcoin.

buy signal for BTC finally arrived ;)

Another evidence less FUD post by the one of the greatest losers in bitcoin history, Kwuckduck.

It may be more profitable at the moment, but, merchants, exchanges and miners are not switching. Zero fucking evidence there pal.

Tell me though Kwuckduck, for humours sake, let's just say that bitcoin cash destroys the bitcoin core chain and becomes the new bitcoin. Will you then be posting FUD post after FUD post about that chain too as it crashes to new ATHs?

Some people just have a hate boner for Bitcoin and the top dog. Can't change that no matter how much reasoning you give, obviously miners will follow the money and some of them have indeed switched. I haven't done that yet and I probably never will.

That's unlikely since it doesn't offer any real advantages

Bitcoin Cash is more profitable to mine now since its mining difficulty dropped recently (due to lack of hashing power when it had been started in early August), and plenty of hashing power got poured into this coin, i.e. due to imbalance between the current difficulty and available hashrate. The difficulty will readjust soon, and this profitability will evaporate as fast as it emerged. To replace the original Bitcoin, Bitcoin Cash would have to rise in price to parity with the former, but that would require tremendous amount of fiat injected into this wannabe Bitcoin replacement

yes there is no  doubt thatn bitcoin price will continue increase and very soon we will see that the price of bitcoin will cross 5000$. therefore i personally holding my bitcoin and not going to sell it in present time, i think in very beginning of this 2018 the price of bitcoin will even cross 7000$ so it will be more profitable if we manage to hold bitcoin tell the end of 2017.

It isn't what's wrong with few days back it was 2200$ and now it is 4000 and you are saying it has badly gone down how give me a explaination to this every drop in price has a reason and i totally see a valid reason applied here stop complaining for no reason every advantage will have a small disadvantage and this minor drop is the small disadvantage

LOL ;D!!! Are you kidding me? An altcoin has received a huge money invested from many trader on market like Bitcoin Cash falldown to @1 sat? If like your said, the value of Bitcoin Cash = zero and will be delist from anywhere, this situation is impossible happening.

Exactly! There are some here who are just stupid and not even thinking right. I guess this speculation is really a trash. Why wouldn't he or she keep on checking the status rate of bitcoin before judging that bitcoin goes down badly. It doesn't make sense at all or maybe he needs a compliments or to be gone viral. Catching people's attention so that there is something to talk about. Whatever the fluctuations of bitcoin, it will rise again because many people are holding their coins so definitely it will just regain what it had lost and so on. It's doesn't go down badly after all.

This is completely normal! Every time the bitcoin price get to the highest level there most be a market correction which sometimes reduces the bitcoin value and then later grow from there.