what happened for the market?

[peter0425]

There was one market analyst saying that the price of bitcoin will crash and coincidentally, the dumping started. So I guess, it is one of the factors that started this massive dump. However, this is part of bitcoin market, its unstable price, so its up to us to either follow the dumping or hold on our bitcoin because you see that the price can still recover and rise even more. It's up to you to make your better judgement.

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[coynedterm]

Why the price going down from 2600$ to 1988$?
Is there any poilcy from state?

I think yes , this is the policy .
A news is now running in the internet that the government of India and RBI will take legal action against the zebpay and will see all the details of the transaction for every transaction  to bank  .
Because currently the ransomeware topic made the Bitcoin famouse but the countries who were not active to make action against it , now became active and want to control the use of the Bitcoin  that results into the down of the demand and also down in the price accordingly .
Well here no one can control use of Bitcoin , so here a good thing is that we will still use Bitcoin for the profit and will not exit the Bitcoin job .
Here the Japan already declare the Bitcoin legal , then probably it may be possible that with the taxes other countries will declare it as legal.way of the payment .

[ridery99]

It's summer time and investors took profits and are going to vacation, like every year.

[ustradebitcoin]

Coinbase had many problems this week, and most investors withdraw their money.
i keep my bitcoin since November 2016 i never withdraw my bitcoin.
i think everything will be back soon like always

[Slow death]

Why the price going down from 2600$ to 1988$?
Is there any poilcy from state?

Until now I have not received any negative news about bitcoin. When more and more countries are recognizing and starting to receive bitcoin. Japan, south korea, russia and india should be able to keep bitcoin prices stable.

I hope they can keep the price stable.

This is a nightmare that should not happen.

This is a real nightmare.

I feel sorry not to sell bitcoin when the price reaches 2800USD. This is an irreplaceable remorse.

Everyone rushed to sell when it reached $2700, when the price reached $2600 in poloniex had 53,000 people online and now that the price is less than  $2000 we have less than 35,000 people online.

[joshy23]

Its unavoidable. Maybe there is a reason that investors dump bitcoins last couple of days. Maybe they just want to earn money go on vacation, want to gamble with bitcoin etc.. we can only speculate. The price has corrected itself and we may see a new wave of cash coming into the bitcoin ecosystem again that will push the price further that we expected.

[wendelllee]

It seems that the price is climbing up.

[YuginKadoya]

Why the price going down from 2600$ to 1988$?
Is there any poilcy from state?

Is this the first time you ever seen bitcoin move like this? this may happen more often if the price rose up significantly high then people would be emotionally decide that they have lost money because the value drop that is why out of fear they are selling or converting their bitcoin so they would gain from it, I say we should be calm and I think you should stay calm too because bitcoin is still way more up that the usual price it had back on march since we had reach the $2000 mark value.

[zoolander]

Why the price going down from 2600$ to 1988$?
Is there any poilcy from state?

Found this on Reddit, not saying bitcoin is dead or going to die or destroyed or would it survive etc etc. If you observe BTC charts, it follows a pattern and almost everytime this pattern keeps repeating. There is nothing to panic about it, this is is how the BTC market works.

Ye olde bubble cycle pic rears its head once more. If I had a bitcoin for every time this has been posted on Bitcointalk I'd be very rich indeed. Almost a confirmation of the current bubble popping. (Edit: someone beat me too it)

FYI: IMO we are heading to "Return to normal" and Bull Trap in case you are wondering. (For this particular bubble).

[wendelllee]

Why the price going down from 2600$ to 1988$?
Is there any poilcy from state?

Is this the first time you ever seen bitcoin move like this? this may happen more often if the price rose up significantly high then people would be emotionally decide that they have lost money because the value drop that is why out of fear they are selling or converting their bitcoin so they would gain from it, I say we should be calm and I think you should stay calm too because bitcoin is still way more up that the usual price it had back on march since we had reach the $2000 mark value.

I had experience for the crash in 2013. Just worry that it will happen again.

[severaldetails]

Basically I do not see much of a problem.
Right now we are at a level where we were about two weeks ago.
And if you look four weeks in the past, nearly nobody could have imagined that we would be at about 1800$ right now.
The spike in between was just madness.

[N7Pathfinder]

I think there is a game going on here! Everyone is so confident it will go up again like they know what will happen regardless of market demand. How can a currency drop so much without any negative news? How can so much people decide to sell at the same time all together and crash the market anytime they fancy? How can market demand drops so much overnight without any good reason? How can we have any confidence in this system anymore!

[wendelllee]

This is the situation similar with 2013. Isn't it?
But no bad news observed. It's hard to understand.

[Paya]

This is the situation similar with 2013. Isn't it?
But no bad news observed. It's hard to understand.

There were no particularly good news either, at least not so good to justify the rally we've seen. It was a classic speculative bubble, albeit it lasted longer than I was expecting, most likely due to all major altcoins which also entered their own bubbles.

Btw this fall will go deeper, people. Truth is that bitcoin simply is not worth 2500+ at this point. I am not going to even think about rebuying until low 1000s. If it never goes that deep, oh well. I cashed out majority of my 6+ years held btcs in the past week and to be honest, I am VERY happy. Holding does pay off in the long run.

[pizamoi]

It happens every so often, people panic after a big push upwards and the same graph circulates every time. The point being we could see further falls before seeing it go up again but everyone expects it go to up in the long term.

[equator]

I think first of all the big whales have started to take profit and seeing the fall panic sellers have made more downfall in btc price and this is the best time to buy as the next move will be $5000 target within 30 days as last time it went 2k + move in 30 days

[coolsai]

Happens every few months then eventually recovers, this time though the pump was very short lived so I expect the dump to be short lived too.

[FLoving]

I think some of the investors who have kept their target to sell at that price but we are lucky that most of the users are not just the investors as most of the users are the real users of bitcoin and because of them the base of bitcoin is very much stronger and the price will not fall too much but within a week I am sure that the price will once again started to increase and then again the investors will start to invest.

[DustyRah]

Profit taking! If you made 30% on your investment and that was your goal, you would sell and take that 30%. Its common sense and people are selling now to lock in the profits.

This was a very pleasant ride though, very very nice!

[peter0425]

Profit taking! If you made 30% on your investment and that was your goal, you would sell and take that 30%. Its common sense and people are selling now to lock in the profits.

This was a very pleasant ride though, very very nice!

Yes. 30% ROI would be nice indeed. But I speculate that more investors sell to get less than that. But as others have said, profit is still a profit. Now the ride has just starting again because bitcoin price is going up again. We may see another correction at around mid June to July but I hope bitcoin price is $3000 then.