Why a little drop down occurred? Read the thread for knowing the reason.

[Bitcotalk]

Everyone is wonder that why a drop down occurred in the price of bitcoin when halving is just a month away.

The reason is that:
In the beginning of this month when everyone got their salaries, started to buy bitcoins as much as possible, so the price increased much faster, but now as these are the last days of the month and the last moments of the money and salaries in everyone's pocket so for the needs of their family they started to sell some of their coins (the demand reduced and the supply increased). But when the next month start everyone will get their salaries and they will know well that in the 15 days the halving will occur and the price will increase because of halving, so everyone will once again buy bitcoins as much as possible and the price once again before the halving will reach much higher.

[thejaytiesto]

I just explained this. It's just whales pushing the price down to buy cheaper, they are using media press FUD news like the australian gov coin sellout and the bitfinex fiasco to drive the price down so people sell. Your theory might be correct too in addition to this.

Bottomline is, price will keep going up after whales end stacking cheap BTC.

[escrowboy]

Everyone is wonder that why a drop down occurred in the price of bitcoin when halving is just a month away.

The reason is that:
In the beginning of this month when everyone got their salaries, started to buy bitcoins as much as possible, so the price increased much faster, but now as these are the last days of the month and the last moments of the money and salaries in everyone's pocket so for the needs of their family they started to sell some of their coins (the demand reduced and the supply increased). But when the next month start everyone will get their salaries and they will know well that in the 15 days the halving will occur and the price will increase because of halving, so everyone will once again buy bitcoins as much as possible and the price once again before the halving will reach much higher.

The reason is bitfinex has rumor that they got hacked and big whlaes grab the chance to sell some of their coins which results to a fomo and suddenly lowered the price of bitcoin, and after the sudden dump on the coin, big whales buy at low price resulting to a profit on their end.

[Raimonn]

I believe that was the rumor about bitfinex problems, some users got worried about this problems and sold its bitcoins. And dump traders saw its opportunity to play its game.

[davis196]

Everyone is wonder that why a drop down occurred in the price of bitcoin when halving is just a month away.

The reason is that:
In the beginning of this month when everyone got their salaries, started to buy bitcoins as much as possible, so the price increased much faster, but now as these are the last days of the month and the last moments of the money and salaries in everyone's pocket so for the needs of their family they started to sell some of their coins (the demand reduced and the supply increased). But when the next month start everyone will get their salaries and they will know well that in the 15 days the halving will occur and the price will increase because of halving, so everyone will once again buy bitcoins as much as possible and the price once again before the halving will reach much higher.

I thought that people are using their savings to buy bitcoins,not their salaries.

If your theory was true,every month there would be such up/down moving.



 

[Mvaporis1961]

I think it's because of massive selling of other members that cause for the price to drop down a little bit but it will be high again because the halving is near and it could possibly attract bitcoin users to buy more bitcoin which can result for the price to skyrocket after halving .