BIG price correction on Bitcoin and Ethereum, what happened?

[Bitcoin Guy]

Any idea on why their prices are dropping in the past 3 to 5 days and are continue to do so?

[1714869610]

1714869610

[jossiel]

It's a global correction including the stock market so I guess everybody are affected with it and not just bitcoin and eth.

It may continue and it won't. Not all the time the price will be always at dip as it will make the people keep on buying.

And be ready as it will be rising soon.

[befrank]

Prices go up and down. Nothing out of the ordinary. It has been going up for weeks now so a correction was imminent.

[thirstygerry]

BTC is probably down due to the Bitmain debacle about hardforking on Aug 1 2017
https://blog.bitmain.com/en/uahf-contingency-plan-uasf-bip148/

ETH is probably down due to the whalepanda post
https://medium.com/@WhalePanda/i-was-wrong-about-ethereum-804c9a906d36

Pretty much everything else is probably being dragged down by the turmoil regarding BTC and ETH.
No worries, it'll recover in time.

[HardFireMiner]

Support of the bitcoin at 2200 (a strong wall) has crashed, now we are heading to the biggest support from 2000-3000$ area - 2000$. Strong Resistance seen on 2200$, replacing the former support, huge sell orders on 2200$.

I think the panic sell at 2000 may drive BTC to 1500 again.

[2bfree]

Support of the bitcoin at 2200 (a strong wall) has crashed, now we are heading to the biggest support from 2000-3000$ area - 2000$. Strong Resistance seen on 2200$, replacing the former support, huge sell orders on 2200$.

I think the panic sell at 2000 may drive BTC to 1500 again.

If it hits $1500 buy , buy , buy!

[bathrobehero]

It probably has to do with US congress being... well, the US congress:

https://www.reddit.com/r/Bitcoin/comments/6hbis7/us_congress_going_full_1984_on_bitcoin_and_assets/

[CuriousGeorge]

Any idea on why their prices are dropping in the past 3 to 5 days and are continue to do so?

The bankers already did FUD to the cryptocurrency users. All of this caused by the statement on the businessinsider site that makes those are feeling panic caused by it. I think the price will rebound again asap.

[Blackout1321]

Any idea on why their prices are dropping in the past 3 to 5 days and are continue to do so?

Prices will fluctuate it's part of the stock. They will fall and rise. I personally will be reinvesting more during this fall.

In ETH and alts.

[FlamingFingers]

I guess there is a lot of news that could be correlated with the drop of Bitcoin and Ethereum, but I believe the most important one (not mentioned here) is the launch of IOTA. IOTA has reached $1.5 billion marketcap being in the top 10 crypto currency, and it threats all altcoins by its non-blockchain technology known as tangle. I believe that's the reason for the FUD and red markets today.

[Juiceboxx]

This will be the biggest buying opportunity in a long time.

[qwerzu]

I guess there is a lot of news that could be correlated with the drop of Bitcoin and Ethereum, but I believe the most important one (not mentioned here) is the launch of IOTA. IOTA has reached $1.5 billion marketcap being in the top 10 crypto currency, and it threats all altcoins by its non-blockchain technology known as tangle. I believe that's the reason for the FUD and red markets today.

http://www.fotos-hochladen.net/uploads/5345435435w4mspqrinl.png

[FlamingFingers]

I guess there is a lot of news that could be correlated with the drop of Bitcoin and Ethereum, but I believe the most important one (not mentioned here) is the launch of IOTA. IOTA has reached $1.5 billion marketcap being in the top 10 crypto currency, and it threats all altcoins by its non-blockchain technology known as tangle. I believe that's the reason for the FUD and red markets today.

Your image is of today. What I meant by $1.5 billion was on its launch day between June 13th and 14th. All altcoins as well as Bitcoin have been dropping in price since yesterday. Everyone should be afraid from IOTA, if he/she holds Blockchain-dependable altcoins (which is pretty much all of them).

[benthach]

normal price correction, people panic and get out or people dump now and get at better price later. it can't go up forever, it is common sense.

[juicejoyce]

It's a global correction including the stock market so I guess everybody are affected with it and not just bitcoin and eth.

It may continue and it won't. Not all the time the price will be always at dip as it will make the people keep on buying.

And be ready as it will be rising soon.

I think you are right. The big whales in the cryto market may also big whales in the other market. I think they just decide to sell some of coins, which have a significant effect on the price.

[bouren]

Any idea on why their prices are dropping in the past 3 to 5 days and are continue to do so?

Not sure what is the reason. But maybe possible either of the following -
1. Is hardfork rumors going louder again? Maybe these buzzes putting price down.
2. Due to natural break from $3000 to $2700 within few hours panic the holders and they ran for sell which further weaken the price to $2200

[mdkb]

BTC is probably down due to the Bitmain debacle about hardforking on Aug 1 2017
https://blog.bitmain.com/en/uahf-contingency-plan-uasf-bip148/

ETH is probably down due to the whalepanda post
https://medium.com/@WhalePanda/i-was-wrong-about-ethereum-804c9a906d36

Pretty much everything else is probably being dragged down by the turmoil regarding BTC and ETH.
No worries, it'll recover in time.

I dont think either of those things are anything but coincidence and a correlation cannot be drawn. far worse news has hit both coins, and the price not moved.
The comments previously about natural corrections when something has been booming upwards for a long period, and also the global stock market movement are much more likely.
point being, it is normal.
welcome to the emotions of trading.  

[Bitcoin Guy]

I guess there is a lot of news that could be correlated with the drop of Bitcoin and Ethereum, but I believe the most important one (not mentioned here) is the launch of IOTA. IOTA has reached $1.5 billion marketcap being in the top 10 crypto currency, and it threats all altcoins by its non-blockchain technology known as tangle. I believe that's the reason for the FUD and red markets today.

LOL!

But, FlamingFingers, I got your point.

[oddwh]

It's hard to say if it's due to an event or not, sometimes, BTC is crashing and we are searching a important reason, so if we find one, we say it's because of that, even if it's not, and a bigger dumps occurs 

[inimitable777]

what makes crypto market so attractive is people are buying and selling with emotions, if you panic is good opportunity for me to buy