Dump?

[Cnut237]

I see two reasons there:
1. BTC price reached $5000, which is a very strong psychological barrier. Many investors thus decided to take their profits at this level.
2. It might also be a typical weekend dump, abusing the fact that people can't deposit fiat money into echanges during the weekend. The dump triggers stop loss orders and price falls even lower. Speculators can then buy cheap BTC before the price goes back up during the next week, when people can send money to echanges again.

Yes, I think the reason for the fall is point 1, and then the effect of point 2 is to exacerbate point 1.

[kemonojim]

hahah, this happens because there are definitely some causes. One is because I think the ethereum news to do hardfork, because if it happens there are some holders Altcoin worried that it will affect all trading. And one of them is that there is a group of mafias who play all the prices, with the intention that they want to get a lot of profits and also so that they can get a lot of coins to save. So the point is this is just a diversion and also there are definitely some people who really want to earn a profit

[MackOfAllTrades]

It is a great opportunity to enter the market when it reaches the correct price.

[Cnut237]

It is a great opportunity to enter the market when it reaches the correct price.

Yes and a great opportunity to sell and buy back at a lower price, but the question is how low does it go? If you've not sold already should you sell now? This is what is difficult to call. We can all see that prices are dropping, but when do they recover?

[Saoha]

What is the reason of this drop? Any news i missed?

I think altcoin and Bitcoin are closely related. It can be seen that after a period of bitcoin increase quite fast and it needs to regain to be able to increase more. The market withdrew about $ 12 billion. A small reduction in altcoins is a natural thing. But there will be a decrease in the increase. The market will soon be vibrant again when altcoin prices are very low, the opportunity for many whales.

[kryptqnick]

Its because of Chinese ICO regulations. Theyve banned it at this point (the banks).

This surely explains NEO and ADX being down so strong but not btc and others. From time to time huge dumps happen and provide a good opportunity to buy some coins. I know it's a tough time when you see all your investments costing a lot less than a few days ago but this will change and eventually you'll see 'em all green again. Well, perhaps not the Chinese ones and icos which are already launched on Neo. I made a stupid mistake of listening to what others were saying. I bought adx hoping for the big pump to occur in September and lost 30% of invested money already.

[ipanks]

maybe its not the right time to reach $5k and the dump is happen. but i think its just correction before the price is break the barrier and reach $5k. we have much time to waiting the price is increase and its better we make a lot of profit so when the price is increase, we can enjoy our profit.

[carlisle1]

maybe its not the right time to reach $5k and the dump is happen. but i think its just correction before the price is break the barrier and reach $5k. we have much time to waiting the price is increase and its better we make a lot of profit so when the price is increase, we can enjoy our profit.

those who's planning to invest should consider this correction as there chance to make a good entry as we all assuming that bitcoin value will rise up
before this year ends, those believers will keep buying little by little coming from those panic seller who didn't understand the drill.

[csmcc]

BTC hitting $5000 was always likely to trigger a correction.

China banning ICO's. And crypto purchase status seems to be uncertain in China as well.

Combine the two ...... perfect dump-storm. Expect it to go down more before it (hopefully soon) goes up again. And I'd imagine the recovery of some China based tokens may be slow to non-existent. Could even end up with a couple of completely dead ducks out of all this.

Fun times!

[alyssa85]

Its because of Chinese ICO regulations. Theyve banned it at this point (the banks).

This surely explains NEO and ADX being down so strong but not btc and others. From time to time huge dumps happen and provide a good opportunity to buy some coins. I know it's a tough time when you see all your investments costing a lot less than a few days ago but this will change and eventually you'll see 'em all green again. Well, perhaps not the Chinese ones and icos which are already launched on Neo. I made a stupid mistake of listening to what others were saying. I bought adx hoping for the big pump to occur in September and lost 30% of invested money already.

China hasn't just stopped all ICOs being sold in China. They have announced that they are going to do an inspection of 60 chinese exchanges.

My guess is that users of those exchanges are hastily liquidating and getting their funds out. And that is what is causing the sell-off of everything.

[speaktome]

Its because of Chinese ICO regulations. Theyve banned it at this point (the banks).

This surely explains NEO and ADX being down so strong but not btc and others. From time to time huge dumps happen and provide a good opportunity to buy some coins. I know it's a tough time when you see all your investments costing a lot less than a few days ago but this will change and eventually you'll see 'em all green again. Well, perhaps not the Chinese ones and icos which are already launched on Neo. I made a stupid mistake of listening to what others were saying. I bought adx hoping for the big pump to occur in September and lost 30% of invested money already.

China hasn't just stopped all ICOs being sold in China. They have announced that they are going to do an inspection of 60 chinese exchanges.

My guess is that users of those exchanges are hastily liquidating and getting their funds out. And that is what is causing the sell-off of everything.

Without a doubt prices have experienced a great fall today,almost everything is in red number,is really surprising.

[Quidat]

I see two reasons there:
1. BTC price reached $5000, which is a very strong psychological barrier. Many investors thus decided to take their profits at this level.
2. It might also be a typical weekend dump, abusing the fact that people can't deposit fiat money into echanges during the weekend. The dump triggers stop loss orders and price falls even lower. Speculators can then buy cheap BTC before the price goes back up during the next week, when people can send money to echanges again.

Smart move eh? You do already know on how spectators do act on this kind of price correction.This is not really a shocking news since price corrections or profit taking is just really normal for a healthy market.For now im waiting for the lowest price as possible before tending to buyback.Im one of those people who do sell off and lucky enough to convert on 4900 price because i do believe that price wont really break on 5k usd.

[Cnut237]

It will be worth remembering this thread next year when bitcoin hits $10k and prices plummet.
Remember to sell just before $10k and then buy back lower!

[Kinieter]

im just holding my coin , reading this thread is intresting

now i know its a correction , well at least already ordering antminer at high btc price

[xXLimbXx]

Just HODL and buy more if you have some extra money to spend 

[zorranco]

What a LOL.

2 days people saying "it's normal correction".

And it was china's ICO stuff...

[zorranco]

Its because of Chinese ICO regulations. Theyve banned it at this point (the banks).

This surely explains NEO and ADX being down so strong but not btc and others. From time to time huge dumps happen and provide a good opportunity to buy some coins. I know it's a tough time when you see all your investments costing a lot less than a few days ago but this will change and eventually you'll see 'em all green again. Well, perhaps not the Chinese ones and icos which are already launched on Neo. I made a stupid mistake of listening to what others were saying. I bought adx hoping for the big pump to occur in September and lost 30% of invested money already.

China hasn't just stopped all ICOs being sold in China. They have announced that they are going to do an inspection of 60 chinese exchanges.

My guess is that users of those exchanges are hastily liquidating and getting their funds out. And that is what is causing the sell-off of everything.

Source??

[nhote]

Its because of Chinese ICO regulations. Theyve banned it at this point (the banks).

This surely explains NEO and ADX being down so strong but not btc and others. From time to time huge dumps happen and provide a good opportunity to buy some coins. I know it's a tough time when you see all your investments costing a lot less than a few days ago but this will change and eventually you'll see 'em all green again. Well, perhaps not the Chinese ones and icos which are already launched on Neo. I made a stupid mistake of listening to what others were saying. I bought adx hoping for the big pump to occur in September and lost 30% of invested money already.

China hasn't just stopped all ICOs being sold in China. They have announced that they are going to do an inspection of 60 chinese exchanges.

My guess is that users of those exchanges are hastily liquidating and getting their funds out. And that is what is causing the sell-off of everything.

Source??

https://www.c[Suspicious link removed]m/2017/09/04/chinese-icos-china-bans-fundraising-through-initial-coin-offerings-report-says.html

[criz2fer]

Its because of Chinese ICO regulations. Theyve banned it at this point (the banks).

This surely explains NEO and ADX being down so strong but not btc and others. From time to time huge dumps happen and provide a good opportunity to buy some coins. I know it's a tough time when you see all your investments costing a lot less than a few days ago but this will change and eventually you'll see 'em all green again. Well, perhaps not the Chinese ones and icos which are already launched on Neo. I made a stupid mistake of listening to what others were saying. I bought adx hoping for the big pump to occur in September and lost 30% of invested money already.

I think this news from China stirs up a little in the dump. Also bought STORJ and VOX hoping to pump a little but almost all of the altcoins are rally affected in this. My investment are sleeping right now. Hope to recover soon

[Febo]

What is the reason of this drop? Any news i missed?

https://siliconangle.com/blog/2017/09/03/china-bans-initial-coin-offerings-pending-review/

China baned ICOs.

Funny thing is that also fair crypto like BTC, LTC, BHC and XMR are losing its value. Totally not logical.