4p0l4k4y (OP)
Full Member
 Offline
Activity: 448
Merit: 100
Virtual Assistant | Remote Admin Support
|
 |
October 25, 2017, 06:09:41 AM |
|
I just checked poloniex today and btcprice went don't to $5506.28 so that would be -$500 dive. Is this because of the upcoming fork? Can somebody enlighten me what could be causing this?
|
I help small and medium business owners increase brand awareness by creating engaging content, customer support, managing email marketing, and implementing automation.
|
|
|
|
A1exander
|
|
October 25, 2017, 06:13:42 AM |
|
It is probably because Bitcoin Gold fork already happened yesterday (so only snapshot of those BTC balances matters) and those who bought BTC only for getting free Bitcoin Gold are now selling their bitcoins.
|
|
|
|
|
guortates
Newbie
Offline
Activity: 23
Merit: 0
|
|
October 25, 2017, 06:15:13 AM |
|
This is why you should have sell your Bitcoins one or two days before the fork to buy altcoins at the lowest price. Fortunately, there is an other hard-fork coming
|
|
|
|
|
|
tee-rex
|
|
October 25, 2017, 06:18:08 AM
Last edit: October 25, 2017, 07:22:42 AM by tee-rex |
|
I just checked poloniex today and btcprice went don't to $5506.28 so that would be -$500 dive. Is this because of the upcoming fork? Can somebody enlighten me what could be causing this?
If you ask me, it looks like people are booking profits. Anyway, such volatility is normal, and can be welcomed since it is a healthy one. Bitcoin went down less than 10%, and unless it goes down lower, and I mean substantially lower like below 4000$, there is nothing to worry about. This is what consolidation phase means. We will likely hang around that figure for some time accumulating strength and moment before we surge past recent highs. Which were all time highs, by the way. So you should have expected sort of small correction coming sooner or later. There will always be such, and you should get used to them if you are a novice trader. |
|
|
|
|
4p0l4k4y (OP)
Full Member
Offline
Activity: 448
Merit: 100
Virtual Assistant | Remote Admin Support
|
|
October 25, 2017, 06:19:00 AM |
|
It is probably because Bitcoin Gold fork already happened yesterday (so only snapshot of those BTC balances matters) and those who bought BTC only for getting free Bitcoin Gold are now selling their bitcoins.
The fork will be on November that's what I red from a website. So I guess a Blew my opportunity to sell my 15m SATs. |
I help small and medium business owners increase brand awareness by creating engaging content, customer support, managing email marketing, and implementing automation.
|
|
|
|
Emoclaw
|
|
October 25, 2017, 06:19:28 AM |
|
It is probably because Bitcoin Gold fork already happened yesterday (so only snapshot of those BTC balances matters) and those who bought BTC only for getting free Bitcoin Gold are now selling their bitcoins.
No one would ever buy Bitcoin just to get Bitcoin Gold... This is most likely normal market correction. We've had a huge price surge, reaching a new ATH and now people are cashing out their profits. It could also be fear of the upcoming fork, I can't remember if this was the case with Bitcoin Cash as well, but Bitcoin Gold is MUCH less known. It's also worth mentioning that Bitcoin's market cap is $92B now, well below the $103B it was during ATH prices. |
|
|
|
|
4p0l4k4y (OP)
Full Member
Offline
Activity: 448
Merit: 100
Virtual Assistant | Remote Admin Support
|
|
October 25, 2017, 06:21:20 AM |
|
I just checked poloniex today and btcprice went don't to $5506.28 so that would be -$500 dive. Is this because of the upcoming fork? Can somebody enlighten me what could be causing this?
If you ask me, it looks like people are booking profits. Anyway, such volatility is normal, and can be welcomes since it is a healthy one. Bitcoin went down less than 10%, and unless it goes down lower, and I mean substantially lower like below 4000$, there is nothing to worry about. This is what consolidation phase means. We will likely hang around that figure for some time accumulating strength and moment before we surge past recent highs. Which were all time highs, by the way. So you should have expected sort of small correction coming sooner or later. There will always be such, and you should get used to them if you are a novice trader. I agree it you I am still a novice trading so I immediately panic if there is a huge movement on btc. |
I help small and medium business owners increase brand awareness by creating engaging content, customer support, managing email marketing, and implementing automation.
|
|
|
|
hasyurt
|
|
October 25, 2017, 06:25:42 AM |
|
SegW2x den then expect a move to the bitconde. in my opinion. as if to come back around $ 4,400 and then start your $ 7000 journey.
|
|
|
|
|
|
h0lybyte
|
|
October 25, 2017, 06:25:49 AM |
|
I just checked poloniex today and btcprice went don't to $5506.28 so that would be -$500 dive. Is this because of the upcoming fork? Can somebody enlighten me what could be causing this?
It usually happens with bitcoin when a hard fork is to take place, the price goes down to mederate amount but don't worry. Just keep it holding, the price will increase again as the next hard fork is coming and likely to take place on 18 november. Those who sell their bitcoin now, will loose opportunity again. |
|
|
|
|
|
Theb
|
|
October 25, 2017, 06:29:05 AM |
|
Based from my experience based from the pass forks I have seen yes it is. Players will try to profit from the high price of Bitcoin using the upcoming fork as a catalyst or support which will be followed by other people selling as well. At this point people will try to buy Bitcoin at the low price in which they will have more Bitcoin stored now for the participation of the upcoming fork. Just like what happened where they got a lot of Bitcoin Cash because of the previous fork.
|
|
|
|
|
ekoice
|
|
October 25, 2017, 06:30:38 AM |
|
Most people just wanted to enjoy free air drop and get access to free bitcoin gold coins just as it occurred previously in Bitcoin cash.So,they just sold their altcoins and bought bitcoins for getting free coins.
Now,it seems that hard fork has already occurred yesterday and even the coins have got listed in Yobit exchange.Now,its time for those people to just drop their bitcoins and once again buy altcoins.
The same scenario could be expected once again in november when another hard fork is expected due to segwit 2x activation.
|
|
|
|
|
|
miyaka26
|
|
October 25, 2017, 06:32:19 AM |
|
Its because of the hard fork that will take place today October 25 based on their announcement as some of the investors sell their money or moving to other digital coins. that's a normal scenario whenever there is a fork. Eventually it will start rising next month so just hold your bitcoin firm and steady as you will get free BTG
|
|
|
|
|
A1exander
|
|
October 25, 2017, 06:34:05 AM |
|
It is probably because Bitcoin Gold fork already happened yesterday (so only snapshot of those BTC balances matters) and those who bought BTC only for getting free Bitcoin Gold are now selling their bitcoins.
The fork will be on November that's what I red from a website. So I guess a Blew my opportunity to sell my 15m SATs. The snapshot was yesterday, at block 491,407. The Bitcoin Gold network, however, is not functioning yet, and is planned to be up in November. |
|
|
|
|
|
karabasss
|
|
October 25, 2017, 06:37:11 AM |
|
I just checked poloniex today and btcprice went don't to $5506.28 so that would be -$500 dive. Is this because of the upcoming fork? Can somebody enlighten me what could be causing this?
Yesterday passed the plug and lowered the price of bitcoin, many understandably sold a little and switched to alt, but soon everything will be restored. So there is no panic for the next fork. |
|
|
|
|
death69
|
|
October 25, 2017, 06:40:06 AM |
|
No, it is not. the price of bitcoin is decreasing because of the finishing fork recently. People were holding bitcoin in order to receive free bitcoin gold and after the fork, there is no point holding bitcoin anymore. They convert their money into usdt or other cryptocurrencies which have more chance to increase the price than bitcoin. However, the upcoming hard fork will definitely impact the price of bitcoin which will make bitcoin even higher than $6000. I expect that the highest peak will be $6500
|
|
|
|
|
IamAltcoinfan
Full Member
Offline
Activity: 476
Merit: 103
homt.net
|
|
October 25, 2017, 06:45:36 AM |
|
Its not complete dump at the moment some people are selling once b2x november 18 fork finish then there will be the huge dump in bitcoin price . Some of the strategic people selling bitcoin for the good price and waiting for some more dump it may even reach less than 5K in a week then they will collect and wait for the B2x fork to get another free coin . so this dump is very much temporary for a week or two week.
|
|
|
|
|
arthotdog
|
|
October 25, 2017, 06:46:28 AM |
|
I just checked poloniex today and btcprice went don't to $5506.28 so that would be -$500 dive. Is this because of the upcoming fork? Can somebody enlighten me what could be causing this?
ups and down of bitcoin price is normal,same as all the coins in crypto,500usd is just a small amount for you to be affected,and besides with china anticipation bitcoin price drops down unto un predictable value and still grows upto the highest price after.so better be not troubled instead continue on what your doing and hold your btc when it drops more than what u wanted |
|
|
|
|
|
24core
|
|
October 25, 2017, 06:51:13 AM |
|
I just checked poloniex today and btcprice went don't to $5506.28 so that would be -$500 dive. Is this because of the upcoming fork? Can somebody enlighten me what could be causing this?
The bitcoin gold fork already passed. The price will always go down immediately after a fork and should re-stabilize about one month after. It may even drop a little lower to $5200 before it starts gaining again. |
|
|
|
|
InvestICO2L
|
|
October 25, 2017, 06:51:28 AM |
|
this is very normal. when the price increase to a new high point then it will down before it start a increase trend
|
|
|
|
|
|
A1exander
|
|
October 25, 2017, 06:52:25 AM |
|
It is probably because Bitcoin Gold fork already happened yesterday (so only snapshot of those BTC balances matters) and those who bought BTC only for getting free Bitcoin Gold are now selling their bitcoins.
No one would ever buy Bitcoin just to get Bitcoin Gold... This is most likely normal market correction. We've had a huge price surge, reaching a new ATH and now people are cashing out their profits. It could also be fear of the upcoming fork, I can't remember if this was the case with Bitcoin Cash as well, but Bitcoin Gold is MUCH less known. It's also worth mentioning that Bitcoin's market cap is $92B now, well below the $103B it was during ATH prices. I have an impression that the Bitcoin Gold hype is pretty large, much more than its real merits would make. But I agree that it is an absolutely normal correction, same as those that happened many times before, and it was inevitable after such surge. The fork may be just a formal cause for fixing profits. |
|
|
|
|
|
