Is the current price drop considered a normal phenomenon?

[Bitcoin Guy]

The crypto market is recovering from the drop with a current total market cap of $103.6B.

Hopefully, the historic trend will continue - that the price goes beyond the previous peak before it dropped.

[zedsacs]

Im a bit confused sir about your question because of a normal phenomenon, I mean we all know that phenomenon is not normal? Or something lime that but anyways, Yes, in a positive way, cause we all know that the bitcoin fork is near, and it's just normal to have this price drop

[BingoDog]

Price volatility is normal process for bitcoin you should now that by now. When did you see that price is constantly climbing up without any dumps? This was just minor price correction and at the moment the price is more or less around 2500.  Nothing to worry about or panic for, just relax.

[OROBTC]

Price volatility is normal process for bitcoin you should now that by now. When did you see that price is constantly climbing up without any dumps? This was just minor price correction and at the moment the price is more or less around 2500.  Nothing to worry about or panic for, just relax.

Relax anyway even if the price goes under $2000 (or try to!).  As long as the Developers and Miners can work out a solution to the scaling problem (maybe they can and are), then Bitcoin will be just fine given some time.  Bitcoin is famous for its HUGE volatility, so consider buying it and HODLING for as long as it takes.

Even if you buy at $2500, and BTC goes down to (say) $1700, HODL ON!  The price would likely go back up to record highs (again, given time and resolution of the BTC scaling problem).

IF they do solve the problem, and BTC goes down to (say) $1200 - $1500, then it's probably a GREAT buying opportunity (but do not speculate with money you cannot afford to lose).

[Bitcoin Guy]

Im a bit confused sir about your question because of a normal phenomenon, I mean we all know that phenomenon is not normal? Or something lime that but anyways, Yes, in a positive way, cause we all know that the bitcoin fork is near, and it's just normal to have this price drop

What I meant was if the price flucturate (up or down) of 35% to 50%+ in one day is not something that happens once in a blue moon for Bitcoin or Ethereurm.

Price volatility is normal process for bitcoin you should now that by now. When did you see that price is constantly climbing up without any dumps? This was just minor price correction and at the moment the price is more or less around 2500.  Nothing to worry about or panic for, just relax.

I am holding it for the long term so I am not as worry.  However, seeing the market going down on 95% of the cryptos for a consecutive of 3 days is no fun.  It seems that Bitcoin is maturing because it is relatively stabler than other coins; the volality is not as large as others.  That is a good sign.  

[HaXX0R1337]

I am holding it for the long term so I am not as worry.  However, seeing the market going down on 95% of the cryptos for a consecutive of 3 days is no fun.  It seems that Bitcoin is maturing because it is relatively stabler than other coins; the volality is not as large as others.  That is a good sign.  

It is not a fun deal to see the market drop a whooping percentage as you claim,but i am not sure about the exact drop,we had a really good rally before that for months and expect these sort of corrections after the bull run,we might consolidate for a while and then we will see another bull run later this year or next year.

[equator]

Not only in Bitcoin and Ethereum, but at least 90% of the cryptos prices are going down at this moment.  Many Youtubers said that this is normal in the cryptos space, are they correct?  I am not in this market long enough to understand this.   

If you have seen today price in exchange then you would have been regretting that almost all coins, eth and btc have gone up more then 10% in btc and eth, but other good altcoins are up 30%+ so it was a short correction and now it has bounced back, July 1st Australia is going to declare Bitcoin as legal currency, then i think we can see more boom time to come.

[lite]

Not only in Bitcoin and Ethereum, but at least 90% of the cryptos prices are going down at this moment.  Many Youtubers said that this is normal in the cryptos space, are they correct?  I am not in this market long enough to understand this.  

It's normal! usually when bitcoin price drops altcoins price also drops with it. you'll get used to it, in time! everything is moving up now.

[susila_bai]

Not only in Bitcoin and Ethereum, but at least 90% of the cryptos prices are going down at this moment.  Many Youtubers said that this is normal in the cryptos space, are they correct?  I am not in this market long enough to understand this.  

It's normal! usually when bitcoin price drops altcoins price also drops with it. you'll get used to it, in time! everything is moving up now.

Ya it is true that almost all altcoins price are related to bitcoin because if the bitcoin price is going down then most of the altcoins price will go down as they will start to sell the coins and convert it to bitcoins and sell it also so that in dip of bitcoin price they can buy back.

[AleSergio]

Not only in Bitcoin and Ethereum, but at least 90% of the cryptos prices are going down at this moment.  Many Youtubers said that this is normal in the cryptos space, are they correct?  I am not in this market long enough to understand this.  

It's normal! usually when bitcoin price drops altcoins price also drops with it. you'll get used to it, in time! everything is moving up now.

Ya it is true that almost all altcoins price are related to bitcoin because if the bitcoin price is going down then most of the altcoins price will go down as they will start to sell the coins and convert it to bitcoins and sell it also so that in dip of bitcoin price they can buy back.

Not all of them are related to bitcoin. At the moment there are a lot of coins related to waves and ethereum. But still if we see a dump, than a lot of coins are going down and not only because of bitcoin. You can also see that it is just a panic sell, which cause that and market cap of sme coins is reducing significantly.

[Bitcoin Guy]

Relax anyway even if the price goes under $2000 (or try to!).  As long as the Developers and Miners can work out a solution to the scaling problem (maybe they can and are), then Bitcoin will be just fine given some time.  Bitcoin is famous for its HUGE volatility, so consider buying it and HODLING for as long as it takes.

Even if you buy at $2500, and BTC goes down to (say) $1700, HODL ON!  The price would likely go back up to record highs (again, given time and resolution of the BTC scaling problem).

IF they do solve the problem, and BTC goes down to (say) $1200 - $1500, then it's probably a GREAT buying opportunity (but do not speculate with money you cannot afford to lose).

Good advice. 

My concern about scaling is that Segwit can only ease 60% of the bunden.  That is only 2.5X more transactions in a block (if the difficult level adjustment is set to solve a block in 10 minutes).  Even with the Segwit2X, the combined effect is only 5 times more transactions that can be processed.  The average transactions that Bitcoin blockchain would processed would be only 15 to 16 per second compares to VISA's peak capacity of around 56,000 transactions per second.  If Bitcoin wants to be accepted by more people, the developers have to do better than what Segwit can offer.  It is very interesting on how this will play out in the future.  I am sure once the scaling issue is solved and when more countries start to regular it, big banks will start to invest in it and the price will shot up 100X or more in the 10 years.

I am not a methematician so please correct my analysis if I am wrong.

[ActiveP]

As cool as bitcoin is, for someone that only wants it to buy stuff and avoid crazy bank charges, this volatility may seem bad.

If for example today I buy .2 btc @ $2500 to make a $500 payment, and within 24 hours before I make payment the price crashes to $2000, I'll lose $100 - some merchants update their prices accordingly.

The upside though is if it gains value, I get a bit more. It can be irritating though, and makes planning uncertain.

[darkangel11]

It's normal and if somebody wants to know how and why is this happening, they should open the price charts of any exchange and look at the last 3 months. Bitcoin went up so much that its price has doubled, and for that to happen people had to keep buying and buying. Those buyers were mostly newcomers and i'm saying it because of 2 things.
1. If you're holding some coins, it's possible that you will keep buying more as the price grows, but most holders are too experienced to keep buying when the price doubles in a few days. They are either selling or riding it to the top.
2. There was a large spike in bitcoin searches according to google, which means the price growth has attracted new people.

Now those newcomers are usually in for a quick buck, and those that aren't will sell at the first sign of a crash. Those who bought right below $3000 had to be getting impatient when the momentum was lost and the price started to stabilize around $2900.

[haroldtee]

Not only in Bitcoin and Ethereum, but at least 90% of the cryptos prices are going down at this moment.  Many Youtubers said that this is normal in the cryptos space, are they correct?  I am not in this market long enough to understand this.   

It is very normal. That is how volatile the crypto world can be. Something like this happened few weeks back and even before, and they all bounce back eventually.  I have no idea though why all of them behave in such manner sometimes but I am sure dumping as a result of panic selling is one major reason. It is what it is.

[Bitcoin Guy]

2. There was a large spike in bitcoin searches according to google, which means the price growth has attracted new people.

Mind to share how to access this info on Google?  Do you remember the figures of the last couple times of searches so that I have a benchmark to use?

[darkangel11]

2. There was a large spike in bitcoin searches according to google, which means the price growth has attracted new people.

Mind to share how to access this info on Google?  Do you remember the figures of the last couple times of searches so that I have a benchmark to use?

Here you go, it's actually very easy to find in google trends. https://trends.google.co.uk/trends/explore?q=bitcoin
Notice that search spikes correspond with price pumps. Pumps trigger news outlets and people dive in blindly adding to the pump.
Enjoy

[ahmedjamal1998]

Welcome to the crypto world mate. 
Hang on because it's a turbulent ride. It goes up like crazy sometimes and at other times fall at full speed by gravity. 

Just enjoy and have fun. Let's wish for a happy ending. 

[Bitcoin Guy]

Here you go, it's actually very easy to find in google trends. https://trends.google.co.uk/trends/explore?q=bitcoin
Notice that search spikes correspond with price pumps. Pumps trigger news outlets and people dive in blindly adding to the pump.
Enjoy

Thanks!

Welcome to the crypto world mate. 
Hang on because it's a turbulent ride. It goes up like crazy sometimes and at other times fall at full speed by gravity. 

Just enjoy and have fun. Let's wish for a happy ending. 

I'm breaking even now.  Waiting to get some paper capital gain. 

[batang_bitcoin]

Not only in Bitcoin and Ethereum, but at least 90% of the cryptos prices are going down at this moment.  Many Youtubers said that this is normal in the cryptos space, are they correct?  I am not in this market long enough to understand this.   

Normal correction all the time in the market. After a pump always expect that a correction will follow. May I ask are you holding bitcoin already? Once bitcoin is on a red day other crypto's will follow too. Just a simply tip to you, exercise your heart and don't be too weak with what you see on the market.

[aesma]

This happens in the real world too. One oil company goes down in the market place, suddenly all oil companies go down, pretty soon all commodities companies go down.

It's even worse because of all the computer trading going on, which is much more limited in crypto world (APIs being slow, markets fragmented, etc.).