Bitcoin plunges currently at $929!

[X-ray]

What's causing this drop?

The hardfork rumour and worthless BU coin. Too many FUD are attacking the bitcoin and I think this trend will continue in the future. until the hardfork will be real and they're stopping the FUD for the bitcoin.

And the media are publicising the bad news of bitcoin and it also gives more effect for those people to get more panic feels.

[aardvark15]

I agree that the worry concerning the potential hard fork is causing some people to transfer funds from Bitcoin to altcoins or fiat. We could see the price drop even further as they panic sell.

[The Sceptical Chymist]

It basically because the number of buyers are less than number of sellers .

That's funny, because that's the explanation I always give for price movements, and it explains them pretty damn well.  You must have read Jesse Livermore's book.  But that's basically it, more sellers than buyers and the pressure on the price is downward.  As to why...who knows.  People may be sick of all this debate and perhaps see that bitcoin sucks as a currency, and that it's unnecessary as such.  It's still a great speculative instrument, though.

[cpfreeplz]

Some are moving to other cryptocurrencies, some are selling into fiat. Some are just hedging their risk with the possible hard fork. Sell half of your bitcoins and you have half the risk, right? That's all that's going on. Another day in bitcoin land.

[rajasumi3]

Well the price will even drop more , it may go down to 800$ .in this case i would say that people should buy bitcoins because it is the best time to buy the bitcoins and keep a target when to sell .the main problem is that within hours the price can drop a lot and u sometimes dont get the desired price for selling.

[deftsec]

I exchanged for dollars. Waiting the bitcoin fall a bit more to reorder.

[quake313]

I exchanged for dollars. Waiting the bitcoin fall a bit more to reorder.

I'll hodl til 10k then I'll sodl, if we ever get there.

[ekoice]

Its all occuring due to panic selling.Immateur bitcoin holders are responsible for this.They see some altcoins pumping and just turn their investments to altcoins.Great day for altcoin owners filling up their pockets.Its very sad that i dont have enough much money now,otherwise i would have grabbed lots of  low priced BTCs by this time

[Kotone]

What's causing this drop?

People panic and then sell their coins etf rejected this is the reason behind the price dropped :O hope that it will be back to normal soon bitcoin holders sold their coins becuase they think this drop keep continue till the end of the month. Grab chance to those holders of some altcoins , alternative coins had a potential to rise.

[Seansky]

What's causing this drop?

People panic and then sell their coins etf rejected this is the reason behind the price dropped :O hope that it will be back to normal soon bitcoin holders sold their coins becuase they think this drop keep continue till the end of the month. Grab chance to those holders of some altcoins , alternative coins had a potential to rise.

I think right now ETF rejection was not the cause of the price drop but the one that caused it are FUDS that can be seen which makesany people panic sell and the whales are taking advantage of it. I really hope that this dump will soon stop ane the price rise start again so that we can see bitcoin go up to 1000$+ again.

[X-ray]

Some are moving to other cryptocurrencies, some are selling into fiat. Some are just hedging their risk with the possible hard fork. Sell half of your bitcoins and you have half the risk, right? That's all that's going on. Another day in bitcoin land.

To save their decimals and it will be automatically pump the price of the altcoins. But in this time the bitcoin gets recover for its price and we will see the bitcoin will above $1000 again.
I've made some profit by buy cheap bitcoin @900. this is just pump and dump. A lot of the people are not realize if this was a usual thing.

[jubalix]

Bigger than the fall inmho is the % of total market, <70%, this the first part of the network effect to be lost, with ethers 400% increase, from circa $1b to $4b.

Mull that over.

tech is littered with myspace face book, examples.....

[OneUnderBridge]

Bigger than the fall inmho is the % of total market, <70%, this the first part of the network effect to be lost, with ethers 400% increase, from circa $1b to $4b.

Mull that over.

tech is littered with myspace face book, examples.....

Wow!  Hopefully it will get cheap enough for me to buy some for a change. I've been watching this stuff for awhile but haven't committed yet because I am still trying to take it all in.  I hope I didn't miss the boat! Is everybody running from bitcoin and entering ethereum?

[york780]

Bigger than the fall inmho is the % of total market, <70%, this the first part of the network effect to be lost, with ethers 400% increase, from circa $1b to $4b.

Mull that over.

tech is littered with myspace face book, examples.....

Wow!  Hopefully it will get cheap enough for me to buy some for a change. I've been watching this stuff for awhile but haven't committed yet because I am still trying to take it all in.  I hope I didn't miss the boat! Is everybody running from bitcoin and entering ethereum?

Yup, ethereum increased 400% in the last month and bitcoin decreased with -20% this month.

[OneUnderBridge]

Bigger than the fall inmho is the % of total market, <70%, this the first part of the network effect to be lost, with ethers 400% increase, from circa $1b to $4b.

Mull that over.

tech is littered with myspace face book, examples.....

Wow!  Hopefully it will get cheap enough for me to buy some for a change. I've been watching this stuff for awhile but haven't committed yet because I am still trying to take it all in.  I hope I didn't miss the boat! Is everybody running from bitcoin and entering ethereum?

Yup, ethereum increased 400% in the last month and bitcoin decreased with -20% this month.

Will ethereum keep going up and bitcoin keep going down?  Or, maybe it will turn back around like it has in the past?  Buy low, sell high?  Or, buy while it is going up because it might not come back down?

[lionheart78]

The market has a mind of its own.  I don't think anybody has enough power to manipulate the market without community involvement.  It just may be the right time for the market to correct itself for awhile.  Don't get feared and do anything rash!

You may have a point that with $20B market of Bitcoin, it is quite hard to manipulate it's market but you fail to count the influence of several big players, and exchanges to Bitcoin.  The joint announcement of exchanges about Bitcoin hard fork created by BU will be considered as altcoin and couple with the doomsday rumor of Bitcoin plus the intentional dump on the market is surely the major reason why Bitcoin plunges back to triple digit.

[york780]

Bigger than the fall inmho is the % of total market, <70%, this the first part of the network effect to be lost, with ethers 400% increase, from circa $1b to $4b.

Mull that over.

tech is littered with myspace face book, examples.....

Wow!  Hopefully it will get cheap enough for me to buy some for a change. I've been watching this stuff for awhile but haven't committed yet because I am still trying to take it all in.  I hope I didn't miss the boat! Is everybody running from bitcoin and entering ethereum?

Yup, ethereum increased 400% in the last month and bitcoin decreased with -20% this month.

Will ethereum keep going up and bitcoin keep going down?  Or, maybe it will turn back around like it has in the past?  Buy low, sell high?  Or, buy while it is going up because it might not come back down?

As long as bitcoin will go down, ethereum will go up. They are moving convergent.

[OneUnderBridge]

Bigger than the fall inmho is the % of total market, <70%, this the first part of the network effect to be lost, with ethers 400% increase, from circa $1b to $4b.

Mull that over.

tech is littered with myspace face book, examples.....

Wow!  Hopefully it will get cheap enough for me to buy some for a change. I've been watching this stuff for awhile but haven't committed yet because I am still trying to take it all in.  I hope I didn't miss the boat! Is everybody running from bitcoin and entering ethereum?

Yup, ethereum increased 400% in the last month and bitcoin decreased with -20% this month.

Will ethereum keep going up and bitcoin keep going down?  Or, maybe it will turn back around like it has in the past?  Buy low, sell high?  Or, buy while it is going up because it might not come back down?

As long as bitcoin will go down, ethereum will go up. They are moving convergent.

I think it's just FUD. I think that missing the opportunity to buy cheap bitcoin might be a mistake. Bitcoin has proven to rebound resiliently, so I'm thinking buy low now. I do not think it's the end for bitcoin. But, I am afraid to commit because the FUD is the strong sort of FUD and not the normal everyday FUD I am used to reading.

[jjacob]

I exchanged for dollars. Waiting the bitcoin fall a bit more to reorder.

I'll hodl til 10k then I'll sodl, if we ever get there.

My strategy is similar but in terms of time. I will hold till 2025 and then sell.
I am betting that after we get over the next halving, Bitcoin will go to the moon. These minor fluctuations don't worry me.

[romero121]

I exchanged for dollars. Waiting the bitcoin fall a bit more to reorder.

I'll hodl til 10k then I'll sodl, if we ever get there.

My strategy is similar but in terms of time. I will hold till 2025 and then sell.
I am betting that after we get over the next halving, Bitcoin will go to the moon. These minor fluctuations don't worry me.

After the upcoming halving the price will go high, but only very few hold for such a long term focusing upon a good increase. Most of them try to gain profit in a short time period, so even minor fluctuations matter and only those fluctuations give profit unlike the price increase and decrease. Now it looks good price staying above$970.