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Author Topic: Sudden drop in price: Have we missed any latest news?  (Read 2593 times)
tobacco123
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June 17, 2016, 05:32:52 AM
 #1

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?

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nydiacaskey01
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June 17, 2016, 05:35:25 AM
 #2

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.
tobacco123
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June 17, 2016, 05:46:48 AM
 #3

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.

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June 17, 2016, 05:46:54 AM
 #4

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?

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.

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June 17, 2016, 05:50:53 AM
 #5

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?
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.

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Quickseller
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June 17, 2016, 05:52:20 AM
 #6

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

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June 17, 2016, 05:54:46 AM
 #7

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?
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
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June 17, 2016, 06:03:51 AM
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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
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June 17, 2016, 06:07:05 AM
 #9

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

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.
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June 17, 2016, 06:27:54 AM
 #10

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

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.
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.....

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June 17, 2016, 06:30:22 AM
 #11

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.

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June 17, 2016, 06:32:56 AM
 #12

Don't worry. A $50 drop from $770 is only a 6.5% drop. It's a mini-crash. We are weeks away from the halving, so it will be climbing again soon, and then the real crash will happen.

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...
Kewatia
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June 17, 2016, 06:34:18 AM
 #13

The dip is very normal. The bitcoi price deserve a good correction. It could even drop to $650 and consolidate there.
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June 17, 2016, 07:01:51 AM
 #14

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$
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June 17, 2016, 07:06:41 AM
 #15

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.

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fearlesscat10
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June 17, 2016, 07:09:03 AM
 #16

Don't worry. A $50 drop from $770 is only a 6.5% drop. It's a mini-crash. We are weeks away from the halving, so it will be climbing again soon, and then the real crash will happen.

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...

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.

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June 17, 2016, 07:15:17 AM
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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...
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.
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June 17, 2016, 07:15:58 AM
 #18

The dropping continues and on its way to 716  down ,,hope it will stop now.
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June 17, 2016, 07:17:57 AM
 #19

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?

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".

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June 17, 2016, 07:22:08 AM
 #20

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
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