Bitcoin Just Had Its Biggest Drop in a Month

[StockBet.com]

https://www.bloomberg.com/news/articles/2017-10-18/bitcoin-dips-most-in-month-on-oversight-fear-that-s-not-a-lot

Traders waiting for a pullback in bitcoin’s price to rebuild positions in the world’s largest cryptocurrency may have the U.S. Commodity Futures Trading Commission to thank.

[HeRetiK]

I'm not buying that the CFTC had anything to do with it, especially since the BTC price has been rather shaky in the upper USD 5000s in the first place. There might be a lot of reasons behind the latest drop, I doubt that yet another non-committing statement regarding ICOs is one of them.

Apart from that, I love this quote:

Bitcoin fell as much as 5.9 percent, its biggest loss in almost a month, to as low as $5,247.

I'm not sure whether to I'm more fascinated by the BTC price or by the fact that 6% drops have become newsworthy.

[crazylikeafox]

Typical Pump and dump scenario. Well Im a bitcoin hodler so it doesn't matter to me cause i withdraw some of my profits.

[e-coinomist]

Apart from that, I love this quote:

Bitcoin fell as much as 5.9 percent, its biggest loss in almost a month, to as low as $5,247.

I'm not sure whether to I'm more fascinated by the BTC price or by the fact that 6% drops have become newsworthy.

According to volatility index that is not that much in comparison to last monthes. Today looks worse if no correction has been guessed beforehands.

Drawing a supportline starting from 9/15 that line will cross the former high of 9/2 (usually a month start strong because of fresh wages) around the 20th, five days before that Gold fork. Right day to get in. Date, or around $4800 whatever gets reached earlier.

[NeuroticFish]

Yeah, let's make news out of nothing.
Bitcoin is still nicely over 5000$ (almost 5200$ actually) and it was under 3500$ less than a month ago.
It grew too fast, then fell too much, then it grew again too much, now it falls again. Unless something really big happens I call these pretty normal corrections, not really news.

On the other hand, it is something about Bitcoin, so it increases awareness, if it's still needed

[Torque]

Yeah guys, Bitcoin is done. Kaput. Over. Finished.

Never will it become popular and rise to unimaginable heights in the future.

Listen to your world Financial Gurus, they know what is best for you.

[Opquar]

This phrase made me chuckle:

to as low as $5,247

They were making it seem like it was a cause of concern too lmao.

[BrewMaster]

haha, what the hell is that title

not so long ago price went down 40% before people called it "biggest drop" and start panicking what will happen next.
this may not be the end of this drop but C'mon a 5% drop is considered as daily fluctuations not even a "drop" to start a topic and certainly not something they write an article about!

[xFiber]

Yeah guys, Bitcoin is done. Kaput. Over. Finished.

Never will it become popular and rise to unimaginable heights in the future.

Listen to your world Financial Gurus, they know what is best for you.

Yea I guess we should all  just give up on this whole bitcoin adventure. Bitcoin just tanked 8% let's just give up. I hope everyone gets I was being sarcastic there. We just witnessed one of the strongest bull runs of the year (what a year it has been) yet these people who call themselves 'financial experts' keep making fools of themselves. It's getting pretty funny at this point.
Also, I love the tie!

[ihsanskanzaone]

I think bitcoin prices are only 6% decline can not be compared with the price
of bitcoin increase in because of the increase in bitcoin prices that even up
many times. tends. bitcoin prices now if rupiahkan Rp.71.796.900. where the
price is still quite fantastic.

[harizen]

Yeah guys, Bitcoin is done. Kaput. Over. Finished.

Never will it become popular and rise to unimaginable heights in the future.

Listen to your world Financial Gurus, they know what is best for you.

A big LOL here. Sarcastic comment at it's finest.

Hell true. Biggest and influencial man on the businesses today have some words to bitcoin even prior to it's massive popularity. All of their negative claims didn't happened even by a small bit.

The drop is usual and expected. It happens everytime there is a massive rise. I don't see at the moment why people will be surprised and shock by the bitcoin price latest movement.

[criz2fer]

Apart from that, I love this quote:

Bitcoin fell as much as 5.9 percent, its biggest loss in almost a month, to as low as $5,247.

I'm not sure whether to I'm more fascinated by the BTC price or by the fact that 6% drops have become newsworthy.

According to volatility index that is not that much in comparison to last monthes. Today looks worse if no correction has been guessed beforehands.

Drawing a supportline starting from 9/15 that line will cross the former high of 9/2 (usually a month start strong because of fresh wages) around the 20th, five days before that Gold fork. Right day to get in. Date, or around $4800 whatever gets reached earlier.

I think people sell because of the hard fork which is coming in November. Its either they are selling their bitcoin and take their profit or buying alternative coins that have a potential to pump after the fork. Also Bitcoin Gold make a big effect on it. Either way, still hodling my BTC for the a long term.

[xaxistech]

Bitcoin is so weird at the moment, i dont understand what did affect the price today, i had to sell some bitcoins today (about 0.20) and today's dump really killed me (about $120 lost by the correction) but i am still positive about it because i know that bitcoin rised a lot in the last few weeks, so we can not complain about it because it is still doing a good job.. but it is going up again, upto $5500 at the moment, maybe it will rise again and stay there until the fork.

[Unplugged]

Typical Pump and dump scenario. Well Im a bitcoin hodler so it doesn't matter to me cause i withdraw some of my profits.

The drop was just normal since most hodler cashed-out their profit. As of now the pricing is back again at $5500 and it will continue to increase until the fork and after the fork. I did quite lose some profit since I cashed-out at $5200.

[Shamie1002]

Well it was a quite big drop but still I do not consider this as a terrible thing. I knew bitcoin with about 2.5k and 5k is really amazing thing to experience.
Yes I do agree that fluctuations are a bit weird not knowing exact reasons. Maybe by the massive resolutions and development, adaptation of users is gradually increasing causing this reactions or effect in prices.

[marcuslong]

Maybe this becomes true but it always turn the price back when those users buy tons of bitcoin and the volume increase that fast as we can see the price drop is no longer stay in a week and the price always changes day by day and that is really great about bitcoin so we can enjoy using bitcoin every other day.

[olivierc]

Bitcoin fell as much as 5.9 percent, its biggest loss in almost a month, to as low as $5,247.

I'm not sure whether to I'm more fascinated by the BTC price or by the fact that 6% drops have become newsworthy.

I totally agree...  6% is nothing in the bitcoinworld.  People are OK with 10% increase in 24h but will make noise when there is a 6% decrease.

   

[jackhdt]

it was a quite big drop but compared to the previous month price $ 35xx , Bitcoin price is now at $ 52xx . We have a fast growth so this price cut is completely normal because this is the sell to take the profit of the traders. We are very familiar with this
 

[mobnepal]

Typical Pump and dump scenario. Well Im a bitcoin hodler so it doesn't matter to me cause i withdraw some of my profits.

No its not pump and dump scenario, it just some whales taking out profit but overall trend of bitcoin right now is quite bullish and this might not stop before bitcoin gold hardfork. I am expecting $10k by next year. Pull backs and correction on bitcoin's price is quite normal and if you look at trading chart you will see hundreds of similar pullbacks in past.

[bitbunnny]

Maybe it was a big dump but it was also the big jump back. And very fast too. This was ideal situation for traders to make very nice profit in relatively short term.
And funny, a lot of panic selling happened, even in such short change.
We would probably experience more such price scenarios before the next fork and the upcoming period could be very vivid so take your chances for profit.