Why the selloff?

[mr.mister]

BTC plunging down to $1134 and going lower by the minute.

[btcmerich]

is bitcoin, some days it can do something like this. 5%-10% up and down  , nothing to panic about

[Admired]

BTC plunging down to $1134 and going lower by the minute.

I think it's due to the threat of BTC hard fork, but hopefully this does not happen.

[Dakustaking76]

Can someone explain me with hard fork situation?

[btcmerich]

BTC plunging down to $1134 and going lower by the minute.

I think it's due to the threat of BTC hard fork, but hopefully this does not happen.

hmmm, then people are more stupid then i thought. we are far away from fork and even if a fork would happen then  BTC owners would get same amount on the new chain.  based on this new buyers should come and buy bitcoin and the price should go up . again , most people are not the smartest tool in the shed

[jossiel]

There's nothing new and to worried about this. It is happening usually people are doing something maybe a whale or pump and dump group.

Just to make some profits out of nothing and of course when those newbies see that there's a movement and it is decreasing.

They will usually panic and tries to sell out their coins and boom price will go down but lately you will see the price will increase again.

[Ted E. Bare]

There is no hard fork planned.

The selling is probably based on a misinterpretation of the scaling debate and a lot of manipulation. Be wary not to sell at the bottom.

[MiladMax]

It's a trap for weak hands. 

[btcmerich]

It's a trap for weak hands.  

exactly,   always ask Admiral Ackbar when in doubt

https://www.youtube.com/watch?v=4F4qzPbcFiA

[tk3609]

BTC plunging down to $1134 and going lower by the minute.

https://www.youtube.com/watch?v=A7TuFy0fcuw

[btcmerich]

  I guess now  the title should be changed to " Why the buy back " since it is bouncing back and will be around 1180 euros as it was before the decline today

[chaser15]

BTC plunging down to $1134 and going lower by the minute.

Don't be carried away. Good thing still the price have been lowered because it's your opportunity now to buy coins at the current price. Look at how well it increaead again meaning many are just waiting to reached their buy wall.

We will straight forward again at above $1,200+. No such big news happened that pull the price down so this is just a normal and others just take profits especially those who bought at below $1,100 to $1,000 after the ETF rejection.

[beastcoast]

It's because everyone is selling and converting to ethereum, seriously.

[UnDerDoG81]

When the price tanked for a while and then hovers at the same value for a week, usually the sell off starts. This is happening for years now.

[lottery248]

less than a week ago, bitcoin price used to surge by ~$100 then dropped by almost the same amount AFAIK, so for this i guess this is a trap for sellers.

[nydiacaskey01]

BTC plunging down to $1134 and going lower by the minute.

I didn't notice that it went down to $1,134 USD yesterday but if you did, you should have taken the opportunity to buy some coins and sell later when the price of BTC recovered back to $1,200 USD level. Looking at Preev right now I see $1,203 USD but it's being traded at a lower price at Coinbase with $1,623 USD now.

[The Sceptical Chymist]

OMG, welcome to bitcoin, where volatility is the norm and not the exception.   This is probably nothing more than people taking their profits, which investors do--especially when an asset is near its all time high.  Forget any explanation,  though.  No one here can explain it with any certainty, including me.

[BillyBobZorton]

BTC plunging down to $1134 and going lower by the minute.

We can speculate a lot about why the price goes up and down but we can't know.


It's probably normal profit taking, it will be good to fuck the BUchina miners.

[d5000]

I think the fork threat is only an excuse for the selloff. The real reason is that the market, for now, is convinced that ~$1300 was the top,and that we're now entering a short-term bearish phase. At ~$1295/65 there could be observed a double top in the making, it would confirm at ~950.

What is true is that fundamentals for now don't speak for a rally, after the failed ETF decision. A fork threat is still some days or weeks ahead. BU has about ~30% of blocks and is, at the moment, stagnating. But that doesn't mean the danger is not real. So I'm still convinced the best bet is trying to find a compromise. But most BTU and Core hardliners are too stubborn, it seems.

[BillyBobZorton]

I think the fork threat is only an excuse for the selloff. The real reason is that the market, for now, is convinced that ~$1300 was the top,and that we're now entering a short-term bearish phase. At ~$1295/65 there could be observed a double top in the making, it would confirm at ~950.

What is true is that fundamentals for now don't speak for a rally, after the failed ETF decision. A fork threat is still some days or weeks ahead. BU has about ~30% of blocks and is, at the moment, stagnating. But that doesn't mean the danger is not real. So I'm still convinced the best bet is trying to find a compromise. But most BTU and Core hardliners are too stubborn, it seems.

It was possitive that after the ETF the price went up, I think the damage of the ETF is already priced in.

BTU camp will never be happy no matter what Core does, they are just trolls at this point. Roger Ver already admitted he will not support Core no matter what.