Why bitcoin price drop few hours ago?

[crairezx20]

Hi guys what is honestly the reason why the price was drop few hours ago.. ?
I don't seen any news why the price was drop except for this news http://www.businessinsider.com/bitcoin-price-charts-show-trouble-ahead-2017-3

What do you think the cause why price was drop few hours ago?

[Ted E. Bare]

That selling was probably based on a misinterpretation of the scaling debate and the false claim of an impending hard fork.
There is a lot of manipulation going on. Be wary not to sell at the bottom.

[Gotottack]

That selling was probably based on a misinterpretation of the scaling debate and the false claim of an impending hard fork.
There is a lot of manipulation going on. Be wary not to sell at the bottom.

Yeah, there have been a lot of concerns lately with bitcoin and the recent new of antpool supporting bitcoin unlimited has really stirred up the scene and it is hampering the price growth of bitcoins. This is also why all the altcoins are going up since you will see a lot of people moving out of bitcoins and into altcoins. But for sure when everything settles, all altcoin prices will go down and bitcoins will skyrocket this time.

[spiderbrain]

Fear of hardfork fear and a little profit taking from alts which will remain nameless. That is at least why I sold some =)

[n0ne]

This might be the regular fall in price to get a stability or due to the impact created by ongoing debate in which each gains strength for a short time without a finalized decision. Can be used as the time to profit as price increase could take place depending upon the decision.

[cpfreeplz]

BU screwed up big time and people are kind of all over the place with how to feel about it. There's no hard fork coming without some logical solutions coming out. BU is over though. All of this uncertainty and doubt caused people to go to other alts or fiats.

[danherbias07]

Here is one link to make it a little clear.
http://www.coindesk.com/bitcoin-price-support-weakens-dip-1200/
I guess some people just sold much now, I think they have their own reasons.  That is one big difference with bitcoin, with price drops like this you will have to find the reason for it. But sometimes you just cant and maybe that is because we did it and we dont want our transactions be traced right?

[RoommateAgreement]

FUD and manipulation is always the cause and this time is no exception. the ETF FUD ended and it was a stupid thing and now another stupid FUD about chain splitting into two is being spread everywhere and price is taking the hit for now.

just make sure not to get caught in the middle of this like last time.

[pooya87]

market makers are at it again!

they need cheap coins to make the most out of any situation and make more money. BU node bug is a total bullshit. BU is not bitcoin at the moment and that means any bug is just a bug in random code that someone made!
it am afraid it is ETF all over again, when people soon start only talking about BU and what ifs until everyone has headaches and weak hands are kicked out and then we see rise again.

this is starting to get too predictable

[HabBear]

Uh, I believe people are selling off their BTC to buy ETH during it's massive run up. ETH is up nearly 300% in the past MONTH.

[cengsuwuei]

I think is no big news and problem about bitcoin price is down
only corection price and bitcoin price is comodities can trade, so fluatuative price down or incraese is reasonable
but news in today only node bitcoin unlimited is crash

[freebutcaged]

As usual nothing out of the norm, bitcoin has been like this ever since 2013 and you shouldn't be surprised if you see price dropping under $1000 as well because 2 months ago it was below $1000 and difficulty didn't increase significantly.

[Amph]

That selling was probably based on a misinterpretation of the scaling debate and the false claim of an impending hard fork.
There is a lot of manipulation going on. Be wary not to sell at the bottom.

wasn't this already prevented with the news about the bug of bitcoin unlimited? with that bug the consensus should not increase for bu and therefore the chance would be almost non-existing for it to happen

it might be justa  small correction, or a delayed effect from the EFT, which was strange to not cause any panic dump

[X-ray]

Because a lot of the people just their hand on his ears, because too many the FUD for the bitcoin in this day and i think it will recover again into the previous value. This just a short dip and i think we will back again and no doubt about that. I believe bitcoin is really strong.

[Kakmakr]

Do not be too concerned about the short term fluctuation in the Bitcoin price. We have a group of whales with a lot of financial power to cause a lot of volatility, when they want to make some profits. Bitcoin is also very susceptible to FUD and shilling going on in this scene.

One thing I do know is Bitcoin seem to be bouncing back after every dip in the price. Speculators just love this volatility, because the day traders profit from this. ^hmmmmm^ 

[mikenz]

it might be justa  small correction, or a delayed effect from the EFT, which was strange to not cause any panic dump

this. I was surprised by the strong retrace too

[york780]

This has nothing to do with ETF. This is just a mix of BU, FUD and the European Union that has said that crypto cant be anonymous.

[Pursuer]

opportunity!

- opportunity to buy cheap coins.
- opportunity to pump the two biggest altcoins even more
- opportunity to sell your altcoins at higher prices when it went up higher.
- opportunity to generally make much more profit.

it starts with FUD about any topic (this time it was BU, last time it was ETF, before than something else) and then everyone jump in to take advantage of the opportunity then when it is late and price is low panic sellers start dumping.

in the end everything will be back to normal again and after some time rinse and repeat.

[Snorek]

There is no clear even which indicates reason for this small drop. It is, however, the biggest price drop since ETF decline, yet I doubt it had anything to do with ETF.
I've seen the news that Canada and India are issuing warnings on bitcoin Ponzi schemes, nothing but usual FUD about danger of cryptocurrency etc.
We also have further discussion about scaling problem, this time with UASF in play.

[Denker]

This has nothing to do with ETF. This is just a mix of BU, FUD and the European Union that has said that crypto cant be anonymous.

It's mostly due to FUD. The EU and it's ridiculous decision is not from any relevance imo.
If that would have been the case Alts like Dash and Monero should have plunged as these are real anocoins.
No it's pure FUD from Bitcoin Judas and his minions, shills and altcoin pumpers.