Bitcoin dropping like a stone

[aardvark15]

I wouldn't say "dropping like a stone" but I suppose it's quite a sobering drop after months of enjoying above $1000 prices. I can still recall my own surprise when BTC refused to return to the 800-900 price it had been trying to break for weeks. Have always been expecting the correction.

To be objective, the 15% decline is really a mark of resilience in the face of all the negative events this month. I'm a holder and if the downtrend continues, it'll just be one of the rare times to buy more BTC for most of us.

To me this is a good opportunity to buy. We've see that the price can go as high as $1300 (and higher), so buying as $950 or $900 seems like a good deal. I don't mind the drop as long as it will rise again.

[freebutcaged]

It is obvious that funds were replaced from bitcoin into eth and dash I think people are realizing that they can use other alternatives to bitcoin as well and they have somewhat the same potentials.

[BlackPanda]

It is obvious that funds were replaced from bitcoin into eth and dash I think people are realizing that they can use other alternatives to bitcoin as well and they have somewhat the same potentials.

I agree with you . there are other alternatives to make an investment. we do not continue to focus on a bitcoin. altcoin still profitable.

[DarkIT]

for now, I guess it's not the right term, but, bitcoin prices did fall a little faster than before. bitcoin price is now located at $ 1031 in preev. Well, I just hope that bitcoin prices do not go down so far.

[bitsmichel]

I wouldn't say "dropping like a stone" but I suppose it's quite a sobering drop after months of enjoying above $1000 prices. I can still recall my own surprise when BTC refused to return to the 800-900 price it had been trying to break for weeks. Have always been expecting the correction.

To be objective, the 15% decline is really a mark of resilience in the face of all the negative events this month. I'm a holder and if the downtrend continues, it'll just be one of the rare times to buy more BTC for most of us.

To me this is a good opportunity to buy. We've see that the price can go as high as $1300 (and higher), so buying as $950 or $900 seems like a good deal. I don't mind the drop as long as it will rise again.

I don't want to sell/buy now. i will wait for at least a weak to analyse how the situation gets then i will decide whether i have to sell or buy. what if the price falls down more or it can be other way round it can increase as well. lets wait for sometime and then decide.

[Rude Boy]

Well, I don't think the intention is to stop the movement, it's probably a good enough spot where some people would still want to buy and others to sell. Assuming the pressure is uniform, the owner of those walls should continuously make money. If that is the case, eventually the volatility should dampen and the price would need to be pushed around a bit to attract attention.

Well, there's no price over time data, but the bar form of the depth chart ls interesting for visualizing where the demand is built up along the price axis. Looks like there's a lot of demand for bitcoins at $7.50 and even more people who want to sell bitcoins at $9.

[tn211]

I've no fiat, else I would have bought some when the price was below 1000 dollar.
Now that the price is picking up, we may see it go up to 1200 again. Al tough that would not be very stable if there is no consensus.

[duuuuude]

I've no fiat, else I would have bought some when the price was below 1000 dollar.
Now that the price is picking up, we may see it go up to 1200 again. Al tough that would not be very stable if there is no consensus.

Yes price has started to recover again and when the price was below 1000 that was the right time to buy bitcoins and now we may again see the price reaching to 1200 in next few days so I think this a good news for the users of bitcoins.

[eaLiTy]

Any idea hy bitcoin is dropping so fast? Last night i was expecting it to go back up a little so i could take some money out of it and put it in ETH, but now i'd sell with a significant loss. What made it drop?

Bitcoin was riding high for the past couple of months and a correction is needed for further bull run and the talks about forking had an impact on the price and no one in their right mind sells their stock at a loss,what if ETH comes down drastically when you invest in them since they are all riding an all time high valuation,so the risk is higher in alt coins rather than in bitcoin because you are certain that the price would rise in the future.

It is obvious that funds were replaced from bitcoin into eth and dash I think people are realizing that they can use other alternatives to bitcoin as well and they have somewhat the same potentials.

Alt coin market is there for a very long time and it is not that people are noticing the alts right now  You cannot compare bitcoin with the rest of the alt coins in the market .

[sandor111]

It is obvious that funds were replaced from bitcoin into eth and dash I think people are realizing that they can use other alternatives to bitcoin as well and they have somewhat the same potentials.

Yes i agree with you that the funds have been moved from bitcoin to other crypto coins like altcoins and Eth but i don't think they will be as equivalent as bitcoin and have the same potential as bitcoins because most the people might have heard about the ETH only in last 3 days since the surge the value and decline in the price of bitcoin. Bitcoin will be stable in sometime but other crypto coins might just crash.

[cryptothinker]

This price drop was a bit exaggerated, but there is an explanation for this to have happened. It seems that miners are opting for higher fees rather than a real solution for the scalability problem. Clearly the market is not satisfied with what is happening.

[minero1]

It is obvious that funds were replaced from bitcoin into eth and dash I think people are realizing that they can use other alternatives to bitcoin as well and they have somewhat the same potentials.

Yes i agree with you that the funds have been moved from bitcoin to other crypto coins like altcoins and Eth but i don't think they will be as equivalent as bitcoin and have the same potential as bitcoins because most the people might have heard about the ETH only in last 3 days since the surge the value and decline in the price of bitcoin. Bitcoin will be stable in sometime but other crypto coins might just crash.

ETH is losing it's power now. It has dropped from it's high to where it was a day ago.
It seems to be losing steam now.
But the darkcoin alternative/replacement on the other hand.
That one is busting out all over the place and not showing any slow down in it's climb up.

[1Referee]

It is obvious that funds were replaced from bitcoin into eth and dash I think people are realizing that they can use other alternatives to bitcoin as well and they have somewhat the same potentials.

It may very well be that certain people shifted their priorities temporarily to trading altcoins due to their heavy fluctuations, but that's nothing new. ETH and Dash are being pumped with money from very wealthy individuals that hold the far majority of the circulating coins/tokens in their portfolio. Do you seriously think that the extreme pumps that altcoins experience is coming from legit demand? If the people behind these massive pumps didn't had the majority of the circulating coins, then they wouldn't have any incentive to pump the price. ETH and Dash don't enjoy any sort of real world usage. They purely function as speculative investment options for with greed filled people. MLM was also mentioned to play an important role, but I can't verify how far their importance is when it comes to these pumps.

[BigBoom3599]

It is obvious that funds were replaced from bitcoin into eth and dash I think people are realizing that they can use other alternatives to bitcoin as well and they have somewhat the same potentials.

It may very well be that certain people shifted their priorities temporarily to trading altcoins due to their heavy fluctuations, but that's nothing new. ETH and Dash are being pumped with money from very wealthy individuals that hold the far majority of the circulating coins/tokens in their portfolio. Do you seriously think that the extreme pumps that altcoins experience is coming from legit demand? If the people behind these massive pumps didn't had the majority of the circulating coins, then they wouldn't have any incentive to pump the price. ETH and Dash don't enjoy any sort of real world usage. They purely function as speculative investment options for with greed filled people. MLM was also mentioned to play an important role, but I can't verify how far their importance is when it comes to these pumps.

Ethereum is starting to be adopted quicker than you'd think, AlphaBay a darkmarket is adding Ethereum as a payment method because bitcoin can't fulfill that role any longer  . ETH also has Ethereum Enterprise Alliance, which is basically an alliance of companies that are working together to see how they can use ethereum for their companies... It's unfortunate how a lot of bitcoiners refuse to realise that alts are catching up to bitcoin quick. 

[X-ray]

It is obvious that funds were replaced from bitcoin into eth and dash I think people are realizing that they can use other alternatives to bitcoin as well and they have somewhat the same potentials.

It may very well be that certain people shifted their priorities temporarily to trading altcoins due to their heavy fluctuations, but that's nothing new. ETH and Dash are being pumped with money from very wealthy individuals that hold the far majority of the circulating coins/tokens in their portfolio. Do you seriously think that the extreme pumps that altcoins experience is coming from legit demand? If the people behind these massive pumps didn't had the majority of the circulating coins, then they wouldn't have any incentive to pump the price. ETH and Dash don't enjoy any sort of real world usage. They purely function as speculative investment options for with greed filled people. MLM was also mentioned to play an important role, but I can't verify how far their importance is when it comes to these pumps.

Ethereum is starting to be adopted quicker than you'd think, AlphaBay a darkmarket is adding Ethereum as a payment method because bitcoin can't fulfill that role any longer  . ETH also has Ethereum Enterprise Alliance, which is basically an alliance of companies that are working together to see how they can use ethereum for their companies... It's unfortunate how a lot of bitcoiners refuse to realise that alts are catching up to bitcoin quick. 

The ethereum alliance is such an example about how the serious of ethereum dev. But if the bitcoin will be applying on the alpha bay it means if the bitcoin doesn't having a chance to get a legalism in the future.
We are know if the alphabay is the big blackmarket and containing a lot of the illegal stuff. and it's not good if the bitcoin will be accepted on the alphabay market.  But honestly the altcoin is like a bull right now.

[Barbut]

It is obvious that funds were replaced from bitcoin into eth and dash I think people are realizing that they can use other alternatives to bitcoin as well and they have somewhat the same potentials.

It may very well be that certain people shifted their priorities temporarily to trading altcoins due to their heavy fluctuations, but that's nothing new. ETH and Dash are being pumped with money from very wealthy individuals that hold the far majority of the circulating coins/tokens in their portfolio. Do you seriously think that the extreme pumps that altcoins experience is coming from legit demand? If the people behind these massive pumps didn't had the majority of the circulating coins, then they wouldn't have any incentive to pump the price. ETH and Dash don't enjoy any sort of real world usage. They purely function as speculative investment options for with greed filled people. MLM was also mentioned to play an important role, but I can't verify how far their importance is when it comes to these pumps.

Ethereum is starting to be adopted quicker than you'd think, AlphaBay a darkmarket is adding Ethereum as a payment method because bitcoin can't fulfill that role any longer  . ETH also has Ethereum Enterprise Alliance, which is basically an alliance of companies that are working together to see how they can use ethereum for their companies... It's unfortunate how a lot of bitcoiners refuse to realise that alts are catching up to bitcoin quick. 

The ethereum alliance is such an example about how the serious of ethereum dev. But if the bitcoin will be applying on the alpha bay it means if the bitcoin doesn't having a chance to get a legalism in the future.
We are know if the alphabay is the big blackmarket and containing a lot of the illegal stuff. and it's not good if the bitcoin will be accepted on the alphabay market.  But honestly the altcoin is like a bull right now.

That time will pass and then altcoins will start to go down and bitcoin will rise again. In the end people are earning bitcoins with trading altcoins, in some time people will dump their altcoins for bitcoins and price of bitcoin will increase even higher then it was recently.
I do that, I have some altcoins and when the price is high I sell them back for bitcoins and that is how I make profit, I suppose most of us are doing similar.

[hase0278]

Right now bitcoin prices had gone back to 1000$ levels which I think is amazing after it had dropped to sub 1000$. This has yet proved again how strong bitcoin really is and I really hope that this will be yet another steady price growth period. This someday would be significant in bitcoin so even if it's price drops like a stone do not fear bitcoin will rise up again even if it falls down in price many times more.

[coynedterm]

Any idea hy bitcoin is dropping so fast? Last night i was expecting it to go back up a little so i could take some money out of it and put it in ETH, but now i'd sell with a significant loss. What made it drop?

Instead to think that you get loss , you should think that you got a chance to make profit.
Just think about it throughly that if you can buy small fraction of bitcoin then probably you can make a big profit with the increase of the price , so here be always positive for the bitcoin price , second thing in the bitcoin that fluctuation in the price is a usual thing and they provide us the opportunity to make profit through trading .

[phunixx]

Again this is an oportunity to buy in folks......
It will rise again sooner or later and those who did not step in will regret

[1Referee]

Ethereum is starting to be adopted quicker than you'd think, AlphaBay a darkmarket is adding Ethereum as a payment method because bitcoin can't fulfill that role any longer  . ETH also has Ethereum Enterprise Alliance, which is basically an alliance of companies that are working together to see how they can use ethereum for their companies... It's unfortunate how a lot of bitcoiners refuse to realise that alts are catching up to bitcoin quick. 

Keep making yourself believe into something because you have taken certain positions at current extremely inflated prices. ETH isn't that special at all for dark net markets as AlphaBay has also implemented Monero a while ago. Other than that, I wouldn't find it that big of a problem if certain altcoins "take over" Bitcoin's position in dark net markets. It would mean that the mainstream media channels have less negativity to throw around with regarding Bitcoin.