Bitcoin from $6000 to $5500

[BillCoin]

I don't think that it should be counted as a price decrease.
Bitcoin price has been rising up to about 6000$ lately, and now with the fork it goes back to the levels of 5500$, but everyone who owned bitcoin when it was 6000$, now owns also bitcoin gold which is worth about the difference, which means that maybe your bitcoin now worth less, but you also have an altcoin worth about 300-400 $.

[bitbunnny]

I think such price correction was actually expected. I would say it’s usual in situation like the fork is. And this one was particularly confusing for many users about the date and the value of Bitcoin gold, exchanger behaviour and so on.  Still I don’t expect further fall of the price it might remain around 5500$ at least until November 1st when the practical effect of this fork will be in place. But the good thing is that we haven’t seen so much panic selling this time maybe this is a good sign.

[TonixGaming_14]

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?

Because the hard fork is occur today so the price is dump  many  are waiting for the new blokchain announce today or called Bitcoin Cash . We assure many are support the new alt even the price is dump . The price decrease by 500 because of segwit2x or hardfork and wait to increase after the fork

[happyme1818]

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?

Yes, I it is because of the fork. It is a normal movement of the price everytime there is a fork happen. It will soon be over after the next incoming fork.

[darthmaul]

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 is yet to happen brother. It’s scheduled on November 1st and whatever is happened yesterday is just published block of bitcoin gold and that’s why we are able to trade or exchange it at the moment. Now as people are happy to receive the free bitcoin gold they are now putting back or at least thinking to get back into altcoin market again. So I believe that’s the reason which is causing the bitcoin to dive like that. It is speculated that after real fork date it will dive more down. Good opportunity for bitcoin investor and bad one for other party.

[Slipknot79]

I think it will drop to below $5000. That said - it will come back up again within 4 to 6 weeks to record highs once more.

[rausvi15]

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?

this price Down is due to bitcoin Gold fork which occurred on October 23, thanks to many sites and wallets, because they do not support BTG much that is why many peoples are not investing in BTG and price of bitcoin is not fall too much. But many wallets and sites are in favor of Sigwet2x, coinbase offer bitcoin2x free for its users. I think every coinbase users receive Email about Segwit2x and this will cause massive decline in graph of BTC.

[savioroshan]

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?

Yes buddy you said it. Its because of the fork. Majority of the bitcoin community knows that nothing is going to happen during the fork. But there are still some people who don't have proper information regarding this. These people because of panic, just sell their coins. That's why the btc price dropped suddenly. But I am sure within one week, it will again cross 6000 dollars.

[Svener]

I think it will drop to below $5000. That said - it will come back up again within 4 to 6 weeks to record highs once more.

There is possiblity for price drop in bitcoin because of the hard fork.The bitcoin gold is separation from bitcoin so it cause a little price drop but the bitcoin will recover from it soon.I hope the price will go upto $ 7000 by end of this year.

[thinkdifferent]

I think it will drop to below $5000. That said - it will come back up again within 4 to 6 weeks to record highs once more.

I don't think it will go soon record high price unless some very good news comes out about bitcoins.

[Yuhee]

I think it will drop to below $5000. That said - it will come back up again within 4 to 6 weeks to record highs once more.

There is possiblity for price drop in bitcoin because of the hard fork.The bitcoin gold is separation from bitcoin so it cause a little price drop but the bitcoin will recover from it soon.I hope the price will go upto $ 7000 by end of this year.

Even if it drops, i dont think it will stay for that long. Because that is a bit normal for the stock market. It is not always that the price should increase, a little bit of decrease then more increase. Because in just an hour, the price can go up or below 100$. And it is hardfork so meaning their is new update on the software and miners must update theirfore their is a high chance that the price will increase.

[macchiato]

There was a clone of bitcoin created, the so-called bitcoin gold, that is being processed. This could be one factor why bitcoin dropped from $6000 to $5500 but we already know the nature of bitcoin, its volatile and unstable, so it will probably increase after some time. I don't think that it will drop to $2000, its probably just pure speculation.

[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 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.

If you are a novice cryptotrader, which seems to be the case, and you don't have trading experience at all like many of us hadn't had when we first got involved in bitcoin, you should certainly keep track of how much of your capital you invested in crypto. Just think how you would feel if the price tanks a few times like it happened before. Right now the price went down measly 500$, but it could go down a way lower. There's a simple truth which all novice traders should follow, it says don't invest what you can't leave to rest. And the rest will come with the time, effort and some blood.

[Creepings]

There was a clone of bitcoin created, the so-called bitcoin gold, that is being processed. This could be one factor why bitcoin dropped from $6000 to $5500 but we already know the nature of bitcoin, its volatile and unstable, so it will probably increase after some time. I don't think that it will drop to $2000, its probably just pure speculation.

Every time a fork is happening, a dump is always expected. Last time fork happened, the price dumps back to one thousandths and no one is affected by that, in fact the investors and users bought another batch of bitcoins taking advantage of the dump because no one knows when will be another dump will happen. After that the pump happens and the pump is really great, $2000 is worth it.

[nl247]

Activities are obviously back to normal and expecting corrections like this is a normal thing. The support is still very good at this price, so I do not see it getting lower than $5200 except something bigger than the support line happens. However, there has been a huge increase in recent weeks and just this little correction is already making some people like OP sweat? everyday is not christmas bruv!

[jackhdt]

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?

that right.this is because of the fork however it happened. Bitcoin prices going down by people exchange bitcoin to altcoin. before they were converted bitcoin to altcoin to get free BTG

[frowsiter]

It could be that reason or it could be people are now receiving the free bitcoin gold which they will trade soon. I’m still in ambiguity because if they are selling the bitcoin gold then it should actually pump the coin in first place (bitcoin) and lead to higher prices. So I believe it could be mixed case where people are getting the free bitcoin by selling gold and then again putting it back into altcoins which they did already have as portfolio. So that’s why it’s uncertain to predict what’s really happening in the trade world.

[fulmetal08larz]

In my opinion, Bitcoin's price going down from $6000 to $5500 is pretty normal and many investors are taking profit in this price range, If you have bought some bitcoin in the past month, you have already gained profit at around 45-55% which is good enough. A healthy pushback and correction is expected after the hard fork of BTG happened, it could happen again some time in November, so we must accumulate all the bitcoin we can now and hope for the best.

[AngelSky]

It could be that reason or it could be people are now receiving the free bitcoin gold which they will trade soon. I’m still in ambiguity because if they are selling the bitcoin gold then it should actually pump the coin in first place (bitcoin) and lead to higher prices. So I believe it could be mixed case where people are getting the free bitcoin by selling gold and then again putting it back into altcoins which they did already have as portfolio. So that’s why it’s uncertain to predict what’s really happening in the trade world.

Once you get the free bitcoin gold you have to wait for atleast 2 days to see the bitcoin gold's price value dude. If the supply goes good in the bitcoin gold you have that coins in your wallet and wait to trade later. If the coins falls like the bitcoin cash value previously happened. We will be able to make the more more money. Don't sell it and invest for altcoin since thats value is more fluctuated than altcoins.

[PranDoW]

So, yes, bitcoin fork bitcoin gold are finished. Now Bitcoin supposed to be lower than now. -500$ it's just beginning in my opinion soon it can be decreased to 5000$