Bitcoin have lost more than $100 in a day...

[spartak_t]

The price on BTC-e is $614 as we speak. Any reason for this?

[tokeweed]

No real reason except that Bitfinex coincidentally went offline earlier today during the price drop.  Hopefully everything is ok.  But some members of the forum are skeptical.

[Bitcoin Brazil]

I also think that the price drop has to do with the upcoming britain leaving europe possibility.

Anyways, the price drop is okay, might go back to 580, and nxt week will be around 700 again... when halving comes my guess is it will have reached 850

peace

[Bit_Happy]

The price on BTC-e is $614 as we speak. Any reason for this?

"Greedy" people suddenly getting scared. These markets are completely insane sometimes.
In the "good old days" we had bounces from $26, 28, ~$32 down to $10, back up to ~$30, down to $14, up to $25, and later down to $1.9992, or very similar.
Good times for brave traders....

[RodeoX]

Looks normal to me. Speculators drive up the price then sell off when they fear a dip. No mystery here.

[avikz]

The price is decreasing because of the huge sell order received in various forms. In exchanges and offline also.

Chinese people just used bitcoin to send money outside the country and some traders have ridden the tide to make big profit out of it.

Now they are squaring off their position and the price is dropping. It is quite normal for any exchange traded currency. 

[X-ray]

The price on BTC-e is $614 as we speak. Any reason for this?

Have a lot of reason for this because many people get a panic from The DAO cases it gives a big effect for this, and few times before the halving time I think it's became one of a factor and another reason.

[GreenBits]

Looks normal to me. Speculators drive up the price then sell off when they fear a dip. No mystery here.

Yezzir, it always seems to recede a little  when we make some solid progress. I think we still have some more upward progress to achieve, but the uneducated fear selling in this market is the only reason why btc is so volatile ATM.

I also think the DAO has shaken general trust in cryptos. Most people aren't savvy, they just lump all coins and related techs into a single basket.

[BTCBinary]

I think that the price is in a reverse but it will bounce back up. I guess we will still see the price going up and passing the $1000 mark before the halving.

[spartak_t]

Looks like price decline has stopped.

Looks normal to me. Speculators drive up the price then sell off when they fear a dip. No mystery here.

Probably. Imho, the recent rise in price was not normal so...

I also think the DAO has shaken general trust in cryptos. Most people aren't savvy, they just lump all coins and related techs into a single basket.

Tell me about it.... I somehow tried to warn people, but.....

[yayayo]

I didn't loose a single Bitcent. All are still sitting nicely in my wallet.

Some trader-type investors are apparently buying fiat money today. Seems like they expect a huge valuation boost because the Brexit may not happen. I seriously doubt this will be the case.

I admit that I strongly dislike these value comparisons that use fiat money as a base reference. For me, Bitcoin is the reference, because Bitcoin is sound money. I don't care if fiat is traded higher compared to Bitcoin, because I have no intention of ever selling my Bitcoin for fiat. And in the end, inflationary devaluation is a certainty when holding fiat.

ya.ya.yo!

[The Sceptical Chymist]

More sellers than buyers, that's usually what accounts for this.  Bitcoin is volatile,  but we all knew that.  I'm holding and I'm not going to sell.

[Btcvilla]

Now is the best time to buy. If only I had some money to buy with.

[Efficiency V]

Now is the best time to buy. If only I had some money to buy with.

I agree, for whatever reason it dropped, now is a good price to buy at.  I think we will see it go back up to at least mid 700s or higher in a reasonable amount of time.  Just some nervous selling going on currently.

[Karartma1]

Come on guys, finex blackout led the crash. Finex is a leading BTC exchange and if it collapses, well, bitcoin is affected.

Now it seems up and running again but let's see what happens since some panic has started

[spartak_t]

Everything is back to normal, but the price difference on BTC-e is still $25 from the average one....

[alyssa85]

It went up too fast, and all those people who bought at $700+ two years ago sent their coins to the exchanges and sold. It was bound to happen. It is only when all the 2014 lot have finally sold will the market have cleared properly and be ready for a genuine push up.

[Daneric]

For experienced traders, this change in the bitcoin price is very normal, but for those who do not have any clue on market dynamics, it seems to be horror to them. There is no rule that says the price has to go up only. It might be bullish but there might be lows and highs as the price progresses. The change is that a normal market dynamic that happens with other trading currencies and commodities. You can expect it to down further and start going up again.

[owm123]

Chinese people just used bitcoin to send money outside the country and some traders have ridden the tide to make big profit out of it.

Exactly. They buy btc just as a way of getting money out of china. Now probably selling out to fiat, once they transfer what they wanted.

[Mr.grin]

I guess this is the effect of halving, people might panic because when bitcoin prices fell below $ 50, many people will sell their bitcoin. but I am pretty sure the price of bitcoin is still going to grow back