The price drop

[neopharma]

Hello, guys!
The price has dropped by almost 100$ and I am wondering if anyone can properly explain why this happened.
As far as I know, the following things happened:
1. The DAO got robbed - improper term, as this was done using the tools that came with it.
2. Bitfinex was down 3 times yesterday.
3. The Chinese have been pumping over the past 2 weeks. Have they decided to make a profit now?

Is there anything else that contributed to this drop? Can you explain this in layman terms?
Thanks for the time.

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[Edwardard]

Add two more points
4: big whales are dumping their coins to get huge profit. this is resulting in massive price decrease.
5: before the halving, bitcoin is just going back to get ready for taking a huge ride.

[davis196]

Hello, guys!
The price has dropped by almost 100$ and I am wondering if anyone can properly explain why this happened.
As far as I know, the following things happened:
1. The DAO got robbed - improper term, as this was done using the tools that came with it.
2. Bitfinex was down 3 times yesterday.
3. The Chinese have been pumping over the past 2 weeks. Have they decided to make a profit now?

Is there anything else that contributed to this drop? Can you explain this in layman terms?
Thanks for the time.

I sold my 1M bitcoins to get my profit. ....Just kidding.

Maybe a lot of people stopped buying bitcoins because they are holding enough btc and waiting for price

increase.The demand went down and the price dropped down too.

[janggernaut]

Hello, guys!
The price has dropped by almost 100$ and I am wondering if anyone can properly explain why this happened.
As far as I know, the following things happened:
1. The DAO got robbed - improper term, as this was done using the tools that came with it.
2. Bitfinex was down 3 times yesterday.
3. The Chinese have been pumping over the past 2 weeks. Have they decided to make a profit now?

Is there anything else that contributed to this drop? Can you explain this in layman terms?
Thanks for the time.

I sold my 1M bitcoins to get my profit. ....Just kidding.

Maybe a lot of people stopped buying bitcoins because they are holding enough btc and waiting for price

increase.The demand went down and the price dropped down too.

If people just holding their btc, it doesnt give any effect with price. Btc price decreased a lot because some of people think if that was best time for sold their btc (approx $760), and then they make a big dump, thats why btc price decreased like now.

[neopharma]

5: before the halving, bitcoin is just going back to get ready for taking a huge ride.

By this you mean another pump?

[bitcoinisfurture]

As expected before halving all the rise that went though in last weeks had to be profited and this is what happened. Only thing that was not know when. So now some have hugely sold btc and few others who still hold good number may sell in coming time or will wait once halving times go off then it may be on cards.

[mindrust]

700$-750$ point was something that people waited for a loooong time. I am pretty sure there were people who waited this pump since 2013 just to dump their overpriced coins. They did it and they will never come back and join the game again. That's why it didn't hold there.

It may go 700$+ or maybe 800+ but every new high, will be followed by huge dump sessions. That's how it is.

[Chrismeister]

I dont think the price of the bitcoin will drop and other people are telling you that the halving will cause a price drop but they dont know what they are saying because the halving only affect the mining people and dont affect direclty the price of the bitcoin so dont be afraid of a big price drop.

[alyssa85]

None of the exchanges are particularly liquid, which means one big seller can crash through a lot of orders. Add in that bots sell based on price movement, you had a lot of automatic selling going on at the same time.

[The Sceptical Chymist]

Is it really that important that we know why?  I don't think it is, nor do I think there's a good explanation anyway.   The price rises and falls,  and lately there have been more speculators in the market.   Just accept that bitcoin is going to be volatile.   Everyone wants reasons but they do little good anyway.

[Dr.Osh]

Well, the problem will always come bitcoin bitcoin if prices rise very high. but that is not unusual, in fact it is already happening when bitcoin prices are still very high in the previous year. but I guess it will always show the same thing. Sure bitcoin prices will go up again, at a higher price than the price when he reduced

[iqlimasyadiqa]

Hello, guys!
The price has dropped by almost 100$ and I am wondering if anyone can properly explain why this happened.
As far as I know, the following things happened:
1. The DAO got robbed - improper term, as this was done using the tools that came with it.
2. Bitfinex was down 3 times yesterday.
3. The Chinese have been pumping over the past 2 weeks. Have they decided to make a profit now?

Is there anything else that contributed to this drop? Can you explain this in layman terms?
Thanks for the time.

many thing that can be Patoka in bitcoin decline. I think some of them are influential factors are the number of users who perform the bitcoin owned holding. they still believe that halving will be profitable. This makes the exchange market to be very quiet on the transaction.

[romero121]

Yeah the price drop has happened when users were expecting more and more increase of price. I believe this price drop is due to the accumulation of bitcoin by most users. Because of accumulation, circulation have been reduced.

[tigerwood0432]

Early profit takers

[European Central Bank]

700$-750$ point was something that people waited for a loooong time. I am pretty sure there were people who waited this pump since 2013 just to dump their overpriced coins. They did it and they will never come back and join the game again. That's why it didn't hold there.

I reckon it was 100% Bitfinex screwing up. That's biggest exchange in terms of real money coming and going, forget China, and there's margin trading everywhere which makes the falls worse as things get triggered. It would still be in the 700s if it hadn't failed.

[bitcoinisfurture]

Early profit takers

Will not say early profit takers, as there is no right price where profits needs to be booked. It could be set target and if achieved booking of profit can be done or various global scenarios could also play role now.

[harizen]

Hello, guys!
The price has dropped by almost 100$ and I am wondering if anyone can properly explain why this happened.
As far as I know, the following things happened:
1. The DAO got robbed - improper term, as this was done using the tools that came with it.
2. Bitfinex was down 3 times yesterday.
3. The Chinese have been pumping over the past 2 weeks. Have they decided to make a profit now?

Is there anything else that contributed to this drop? Can you explain this in layman terms?
Thanks for the time.

1. See no linked for the decrease of bitcoin price.

2. Others can transfer to other exchanges without selling their coins

3. This is the near reason why the price decrease in my own speculation. I will just add too those big whales.

But overall, this is usual. If there's a price rally for at least a large margin of price, possibility of a price decrease has a chance to happen with also the same margin days or weeks after the scene.

[alrachid]

To me, many of these things seem tied together. The timing of most of these events seems more than coincidental. BTC was peaked, ether was at recent peaked, it got drained, ether was now btc and much price. BTC was used to scoop the cheap ethers, big sell offs happened, they can be observed in graphs and as these huge amounts were slowly pulled out converted from BTC to fiat the price has dropped. I honestly think it was pumped in anticipation of the attack. Seems like a small community for something so big and coordinated, but it wasn't just one guy. Too many people just believe these articles on the internet although many of the articles are spun to manipulate how you think so they can profit from the mass. Especially the Americans with 9-5's. It's not as much supply and demand as people lead on. Hell, if you think the halving is going to cause the same pattern has 4 years ago or the "it could multiple X times because it multipled X times before", you are already thinking too simply. There is big players with many monies at stake here, not too mention it's a rather lawless land.

[Swagtoshi]

It's a cycle. First, some speculators are happy with their profits and they dump. Then the price crashes. Other speculators now sell their bitcoins as a stop loss which further pushes the price down. Eventually, more and more people sell which causes the price to go down which, in turn, causes people to sell. It's a vicious cycle. If you want a few more days, the price of bitcoins could very well go below 600.

[liveflipcoin]

People are selling right now hoping that the price will go down in anticipation for the up coming halving event.