BTC Price drop?

[Asteria478]

Is there any reason why the btc price is dropping that much today? Are people scared by the hard fork or why is it dropping?

[amacar2]

Is there any reason why the btc price is dropping that much today? Are people scared by the hard fork or why is it dropping?

Its just some big whales dumping their holding or cashing out their profit from this short term huge rally, current pump on price was only supported by high speculation over comming hard fork so bigger dump than this one is quite guaranteed after the hard fork.

[KAKACH]

I think the previous rally ( of 12th & 13th October) was supported a lot by a kind a FOMO, and was not based on real demand.

 Now, it's just a normal correction.  

 If there was real fear about forks, the price would go a lot lower

[Asrael999]

someone in Europe has bitcoin to sell - for whatever reason

[pooya87]

have you even heard of the word "correction".
that is what's happening here. price went up from $4xxx level to $5500+ and now as the traders sell to take the profit, price comes down. in bitcoin whenever price comes down some panic and think it is the end, and probably some FUD accompany it which doesn't make thins easier either.

that means, price drops as you can see now. but as long as price is still in $5xxx level, it is not something worth talking about.

[mitchr4]

Is there any reason why the btc price is dropping that much today? Are people scared by the hard fork or why is it dropping?

I don't think if Bitcoin is drop because scared of the hard fork. People are not afraid of it even they prefer to hold bitcoin to get Bitcoin gold later.

[bitcoinisbest]

someone in Europe has bitcoin to sell - for whatever reason

We are not sure exactly what is causing this drop. There was no specific reason just might be some dumping by few people ahead of the fork event as they may not be positive with the result this time hard fork can bring to btc value. But the price has slight started to gain and now at 5350$ from 5238$ which was couple of hours back.

[jackhdt]

I predict prices will drop after several days stalled. However it early. very easy to recognize this is the sell to take the profit of the traders
We are very familiar with this, bitcoin prices will stabilize again

[Jating]

Is there any reason why the btc price is dropping that much today? Are people scared by the hard fork or why is it dropping?

I don't think they are scared of the hard fork. Why would someone be scared if you are getting free money on the 25th? Maybe its just a price correction that we have been witnessing today. And its not just on bitcoin market. I think the whole crypto is seeing a Tuesday or Wednesday bloodbath. But no worries, this price correction is inevitable, and you know what's next after this? Another bull run so just hodl on your bitcoin and don't panic mate.

[CodyAlfaridzi]

Is there any reason why the btc price is dropping that much today? Are people scared by the hard fork or why is it dropping?

Totally expected. The recent crazy rally (almost up $2000) needs a correction. I think we'll be under $5000 soon for some weeks before going up again. The community is not scared at all to the fork, it is not anything close to the Aug 1 fork in terms of economic split risk. But not entirely sure that the Gold fork will cause a rise due to people want to claim free forked coin either.

Just chill for now, the Bitcoin rocket needs refueling! We're still in a good uptrend. I also believe Bitcoin will hit 5 digits USD next year. Let us hope my prediction comes true.

[Catmony]

No any price rally like the recent one can last forever, small dump after a huge price surge in very short period of time is quite common in bitcoin. Every dump or price correcton like this one is good time to make your entry into bitcoin.

[Kemarit]

I predict prices will drop after several days stalled. However it early. very easy to recognize this is the sell to take the profit of the traders
We are very familiar with this, bitcoin prices will stabilize again

Nice for you to predict the price going down today. But yeah, the prices has been in a lot of swings as of late and its easy to see that a correction is bound to happen in the future. If you are here in the market that long, you will see signs from afar. That's why we are more familiar with it. However, newcomers usually are shock with this sudden price movement and panic ensures.

No any price rally like the recent one can last forever, small dump after a huge price surge in very short period of time is quite common in bitcoin. Every dump or price correcton like this one is good time to make your entry into bitcoin.

Right. We should thank that it was a good run and passes the $5000 mark without a significant drop. But now since we are getting closer to $6000, its usual that maybe traders are cashing it out to make money. And this is a good entry point as well. Let's just see tomorrow if the trend continue. I'm positive that we are going to see nice gains tomorrow maybe around 2-4% increase is not that bad.

[Denker]

Is there any reason why the btc price is dropping that much today? Are people scared by the hard fork or why is it dropping?

It's probably the pullback to the breakout level around 5000.
It's all about support and resistance! Once we broke the resistance of 4950-5000 and climbed to new ATH it's always a question of time because the old resistance gets tested to see if it's build a new bottom, support level.
Be glad this is happening now. Remember the last big drop down to 3000?? The crash was so big because we hadn't tested this level! And when markets start to panic sometimes it continues to drop even further. Good that it didn't happen last time, but still it was pretty big drop.
So right now this is normal market behaviour and I wouldn't be worried too much.
We will test the 4950-5200 area imo, oscillators get a reset and then we may continue moving up again.
What I have left out here are the coming forks of course.

[Cacapzarg]

Is there any reason why the btc price is dropping that much today? Are people scared by the hard fork or why is it dropping?

Its just some big whales dumping their holding or cashing out their profit from this short term huge rally, current pump on price was only supported by high speculation over comming hard fork so bigger dump than this one is quite guaranteed after the hard fork.

Does it mean there is no need to worry and the price will rise again?

[alyssa85]

It's likely to be just profit taking. Bitcoin went up like 20%+ in just a couple of weeks. Stuff that goes up too fast tends to go down fast, so people take profits from time to time.

[mrbnson]

BTC price rose too much too quickly, it was inevitable a correction would occur, many people do not expect large returns from the fork and they're getting out beforehand.

[hase0278]

Is there any reason why the btc price is dropping that much today? Are people scared by the hard fork or why is it dropping?

There is no special reason why btc price dropped today. Retraction of this level is normal when a lot of actions occured in the past few days. In the whole history of bitcoin and crypto, corrections are common when there are crazy price movements that have happened so people getting scared by the hard fork is not the real reason for btc's dropping price. Therefore, the chance of btc price dropping more I think is less, better hold what you got OP.

[pinoyden]

Is there any reason why the btc price is dropping that much today? Are people scared by the hard fork or why is it dropping?

yes probably but not all because i heard that you can recieve bitcoin gold/bitcoin2x in your wallet or on some online exchange equivalent to your current balance left after the fork if only you dont withdraw or move your balance yet. but there were still some people are scared and nervous thinking that their remaining bitcoin on their wallet will lost or something bad will happen, thats why they are withdrawing it early as posible or before the fork happens.

[michellee]

maybe its correction price before the fork because I see in bittrex and poloniex, it seems the trends is going down, I am not sure how much it will drop but I hope the price is not below than $5000. we are now at $52xx and still going down, the line show down pattern and in the other side, altcoin give positive respond to this and some of the altcoin is going to increase. the highest price so far is $57xx so we can hope if this is the correction, then the price will increase back and even more higher than before.

[BlackPanda]

Is there any reason why the btc price is dropping that much today? Are people scared by the hard fork or why is it dropping?

The current price is indeed decreasing and bitcoin prices are already under 5500 $. but I'm not worried because the decline of this amount is fairly normal and not too significant. there are still plenty of opportunities to see higher bitcoin prices. hardfork does make some people panic because we know that when bitcoincash is formed first, bitcoin prices have decreased significantly. but in the end the price increases again. we must have a good level of patience and I hope all traders in the world today do not take excessive sell actions because to avoid price drops that are too over in the market.