Reason for Bitcoin price fall

[(altair)]

Do any body know the exact reason for fall of bitcoin price? It has almost fallen $500 in the past three days.Any specific reason?

It is because there are tons of people cashing out and taking their profit,
But don't worry I think that the other investors are just waiting for the price to drop and they would buy bitcoin and again ,
And the price would pump up again so let's just hope that this scenario would happen again.

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[megynacuna]

I see no real reason maybe it is just correcting / people collect there profit and it will tank and reup again  it is always the same scenario or i hope it is.

$500 is much i know but not too much for  BTC

I absolutely agree with you, it could be just some corrections abdcwe need to be patient because we will buy them up again and get it restored or even higher so if you wanted a better time to buy it low , the ball is in your court.

[malikusama]

This is may be due to the cash out of bitcoins from the market by traders because they made a good profit this year. It is the best time to buy coins because soon it will going to rise again as its demand is increasing.

[BitMaver]

I have a few days ago talking about a possible correction, while the majority dreamt of the conquest of $3000 and flight to the moon   

[deisik]

Do any body know the exact reason for fall of bitcoin price? It has almost fallen $500 in the past three days.Any specific reason?

People get panicky as the Judgment day nears

I refer to August 1st, obviously. August seems to have always been a hard month for Bitcoin. In 2015 the price collapsed to measly 200 dollars per coin. In 2016 Bitfinex had been hacked with over 100,000 bitcoins stolen (and no one ever saw them again as if they just vanished into nothingness). This year it will the Great Split day which Bitcoin may simply not survive as one coin. So people are selling out their Bitcoin stashes while the price is still high. And we might have yet to see plenty of pain ahead

Sure, I think we need mentally prepare before that time. Yearly in August ussually have one reason make the price of Bitcoin breakdown, I not hope in 2017 we can see history repeat. But although not hope that, I still will sell some my Bitcoin before that event, "Safe your money is best choice"

And you won't be alone

In fact, people are already selling their coins. It seems like the price rebounded somewhat during the last hours (from below 2,100 dollars to over 2,300 dollars per coin at Bitfinex), but this price rise is not sustainable (read the market is thin). People who sold on the way down are not buying back. It is clearly seen by the US dollar loan rates that dropped dramatically today and the spike in the amounts offered. This pretty much means that people are cashing out and parking their wealth in dollars

[sumit513]

Obviously correction. I think it has to do with Korean traders, I rad it somewhere.

[Hypnosis00]

I think the reason for the price fall of bitcoin is most of the bitcoin users are now securing their profits in bitcoin because there is a chance for the event in august 1 to be ended in being a messy event so it can drive the price down which is very frustrating for most of the users so even now they are just collecting and securing profits.

[Amph]

Could it be because of this?   https://www.reddit.com/r/Bitcoin/comments/6hbis7/us_congress_going_full_1984_on_bitcoin_and_assets/

i don't think so, i think it has more to do with bitmain and their news about mining a new fork of bitcoin, or simply the market was not ready for the last value

people want that the price keep increase forever, and they are clearly asking for an impossibility

still this crash is no where near the one that happened and put the value under $2k, i see we are already recovering, probably just someone dumping fro profit

[Decoded]

Obviously correction. I think it has to do with Korean traders, I rad it somewhere.

Don't believe everything you see in the news. The price was bound to come down at one point or another. As we all know and have seen time and time again, rapid, sharp growth is not sustainable. If you look carefully, there's a less steep but more stable line that the Bitcoin price follows, even though 90% of the time it is above it.

I think Bitcoin was overhyped and overbought into. I managed to   sell a couple at 2890 though, so I'm pretty happy. Also, I'm buying back in.

[Hydrogen]

The previous price fall happened a few days after https://directbet.eu/ announced they were closing.

This led some to speculate the price decrease was due to Directbet.eu selling off their entire stock of btc creating a massive price fall.

I haven't seen anything to specify another large btc holder selling crypto in bulk.

Can't confirm it but it still may be the most likely scenario.

[ethereumhunter]

i think in out there, many news said the reason for bitcoin price is fall but we don't have to trusted all of the news and its better we search what is happen with the price. don't take too serious with all the news, we only need to read and make our analysis by ourself so we can know the reason.

[franklin9]

Bitcoin is volatile and the price is based on the demand and request, that fall can be due to anything and not necessarily a central cause or reason, for example a big trader selling followed by multiple small trader or something related to the bitcoin segwit crisis.

[dwieyani]

Perhaps the reason is that there is a market value bitcoin shareholder selling their shares for high profit.

[moooonu]

None actually knows the real reason behind BTC's downfall people can only assume the reason behind it. If anyone would know the real reason behind it don't you think they could easily control the price of BTC. 

[Juggy777]

Do any body know the exact reason for fall of bitcoin price? It has almost fallen $500 in the past three days.Any specific reason?

A correction was always going to be due and it's about time that it happened, people sell when it goes high and as far I know there was lot of sell and that's one factor. Secondly the August 1st Is a major news that's been effecting many including me, some have decided to dump Bitcoin for Ltc and then wait and see and that's hurting Bitcoins. I feel post august 1st, we shall see some clarity till then not really sure where the prices can go down or it remains stable.

[SHAWN-MIDWAYS]

The previous price fall happened a few days after https://directbet.eu/ announced they were closing.

This led some to speculate the price decrease was due to Directbet.eu selling off their entire stock of btc creating a massive price fall.
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Could directbet closure have so much influence to affect the price besides directbet always limited players on how much they could wager per bet? It could be a mere speculation as to why price few and most likely a correction was the reason for the fall but good news for us btc price is recovering again

[rockem5]

it's just a small(quite) crash and it will rebound soon anyways. probably because some company released an article about bitcoin that has a negative outlook.

[ubercool]

it's just a small(quite) crash and it will rebound soon anyways. probably because some company released an article about bitcoin that has a negative outlook.

Its not that big dump if you compare it with the pump BTC got in recent times. One more thing I want to add to this discussion is that people may have been selling or cashing out their profit from recent pumping but I see lots of new investors trying to grab this opportunity and trying to buy a piece of BTC for themselves, Price will go up for sure.

[Sithara007]

And you won't be alone

In fact, people are already selling their coins. It seems like the price rebounded somewhat during the last hours (from below 2,100 dollars to over 2,300 dollars per coin at Bitfinex), but this price rise is not sustainable (read the market is thin). People who sold on the way down are not buying back. It is clearly seen by the US dollar loan rates that dropped dramatically today and the spike in the amounts offered. This pretty much means that people are cashing out and parking their wealth in dollars

And why they want to park their wealth in Dollars? Why can't they do the same with other altcoins such as Ethereum and Ripple? After all, whatever happens in August will be limited to Bitcoin only. It is not going to directly affect the other crypto-currencies.

[tiggycomb]

it has mostly recovered to the $2,500 the last time I checked. Regarding the reason, I can't think of anything specific in the last few days except the announcement of developers regarding making a fork if the miners make the new system of BTC, that kind of news is never relaxing for investors and bring allot of fear and hesitation.