Bitcoin plunges currently at $929!

[xypos]

What's causing this drop?

Probably a correction that was going to happen anytime.

There is no avoiding the fact that the price was obviously a bit too bubbly, and an adjustment downwards was needed before there is a price rise again. After the ETF decision there was a short squeeze which left shorters stunned.

But then after everyone's attention shifted out of the ETF it went to the hard fork.

And that's bad news for bitcoin, as there is a ton of infighting going on.

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[addicto]

I bought few around $910 because nothing can be safer than bitcoin. It's wonderful time to make invest into after few days it will be on new ATH when this controversy will die. Bitcoin will be more strong and price will go over $1300

[hase0278]

I guess bitcoin dumped because of the spread of BU FUD and people getting afraid into it. I think it is non sense to be afraid of it though since even if it happens we would get the same amount of bitcoin on BU when hardfork happens anyway. Right now I am holding bitcoins and I suggest others to hold their bitcoin too. Maybe in the coming days bitcoin will pump for sure maybe next week or weeks from now im not sure when but surely it will happen.

[alyssa85]

Calm down people! Bitcoin is trading in a range of between $900 and $1000, and is likely to stay in that range for a month or two till people decide the way forward on this hard fork. At that point it might either start another moonshot, or drop as people give up on it.

[1Referee]

I guess bitcoin dumped because of the spread of BU FUD and people getting afraid into it. I think it is non sense to be afraid of it though since even if it happens we would get the same amount of bitcoin on BU when hardfork happens anyway.

Double number of coins doesn't mean that it will result in you actually getting a major benefit from it. If there really happens to be a chain split, then it will cause a massive downfall in the price of Bitcoin. I wouldn't even be surprised to see a short term decline to levels around the $300's. Your actually benefit will then have to come from you scooping up cheap Bitcoins, and not from having an equal number of BU-altcoins.