Bitcoin slides by over $1,000 in less than 48 hours

[XECTRA (CRYPTO COIN)]

LONDON (Reuters) - Bitcoin dropped below $7,000 on Friday to trade more than $1,000 down from an all-time high hit on Wednesday, as some traders dumped it for a clone called Bitcoin Cash, sending its value up around a third.
Bitcoin has been on a tear in recent months, with a vertiginous sevenfold increase in value since the start of the year that has led to many warnings the bitcoin market - now worth well over $100 billion - has become a bubble that is about to burst.

It reached a record high of $7,888 around 1800 GMT on Wednesday after a software upgrade planned for next week that could have split the cryptocurrency in a so-called “fork” was suspended.

But it has quickly retreated from that peak, falling to as low as $6,718 around 1330 GMT on Friday. It later recovered a touch to trade around $6,880 by 1645 GMT, but that was still down almost 4 percent on the day.

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[Thiptiout]

it is only small correction and will be good if this correction stop to 6,500$

[soepri]

and the bitcoin price will rise again like the other day, just calm dont panic. If you do a trading you must be know when the highest and the lowest it will be, and take advantage from it

[A.Delaney]

Fall baby! This guy is about to buy in!

[tora]

Most altcoins are also down. Anyone who bought a year ago is still well in profit. Bitcoin has recovered from drops in the past.

[DroidR17A]

BCC is rising fast, soaking up the $$$s, probably due to the Nov 13th hard fork. Hold tight!

[tryer12]

I believe it's just a correction after the Segwit2x market shake.

[Meepospammer]

Don't panic. It's just a correction. No need to get alarmed and sell your coins. You will regret it.

[Jibit]

Don't worry. It is just a market volatility. Remember that CME group will launch Bitcoin future contract in next month. Bitcoin price will recover soon.

[Duecoin Official]

We believe it might drop down to $5,500 levels, and then to pick up. But nothing in this Crypto world can be said with guarantee or certainty; it all needs to be worked out very carefully. We should keep every angle in mind before making any kind of decision.

[Xtra_Coin]

People who have long been watching bitcoin know that this is normal. Thanks to such fluctuations in prices, we can earn money. The main thing is that the overall dynamics is positive.

[dead_m92]

It has recovered from that pump, i still remember when it dropped from $7k to $6k in just a few hours, and then it touched less than $5,5 thousand dollars, but now it is recovering and it has touched $6,7k today, so we are still close to last week's ath, there is no need to worry about it, because you all know that bitcoin will always recover, no matter what, that is why i am not worrying about this.
Anyway, we should be careful about bitcoin cash, it is a huge enemy from bitcoin, and they want to turn all of us against bitcoin, and i almost did it, but i am sure that bitcoin is the only bitcoin, and this will be the same foverer.

[Shamie1002]

It has recovered from that pump, i still remember when it dropped from $7k to $6k in just a few hours, and then it touched less than $5,5 thousand dollars, but now it is recovering and it has touched $6,7k today, so we are still close to last week's ath, there is no need to worry about it, because you all know that bitcoin will always recover, no matter what, that is why i am not worrying about this.
Anyway, we should be careful about bitcoin cash, it is a huge enemy from bitcoin, and they want to turn all of us against bitcoin, and i almost did it, but i am sure that bitcoin is the only bitcoin, and this will be the same foverer.

Certainly, also, I don't think that forks and other creations of alts are going to be helpful in crypto. As we have experienced, some people uses it for greed. We can't say who will be next manipulating the price just by buying alts that are very cheap and trick other users to shift again.
I really can't blame users that don't have a strong faith in bitcoin because most of us depends on its income provided. They are pretty scared of losing everything.
But since events like this happen. What should we do?

[xBitHodler]

Nothing to worry about. Bitcoin always recover from correction. Some time ago it took weeks to get the price back to its original state but know Bitcoin became so popular that people start to buy it when Bitcoin is affordable for them. It is really easy to earn on corrections but you have to know when to sell and when to buy. This is the only difficulty in this process.

[leex1528]

I expect it to drop more and more yet.  I think it will probably go down to around 4,000 before we see any sign of stabilization.  It just rose way way to fast and can't be expected to stay up that long.  Hopefully when it goes back down you can all purchase a lot of coin again cause it will definitely eventually go up.

[aizen10]

LONDON (Reuters) - Bitcoin dropped below $7,000 on Friday to trade more than $1,000 down from an all-time high hit on Wednesday, as some traders dumped it for a clone called Bitcoin Cash, sending its value up around a third.
Bitcoin has been on a tear in recent months, with a vertiginous sevenfold increase in value since the start of the year that has led to many warnings the bitcoin market - now worth well over $100 billion - has become a bubble that is about to burst.

It reached a record high of $7,888 around 1800 GMT on Wednesday after a software upgrade planned for next week that could have split the cryptocurrency in a so-called “fork” was suspended.

But it has quickly retreated from that peak, falling to as low as $6,718 around 1330 GMT on Friday. It later recovered a touch to trade around $6,880 by 1645 GMT, but that was still down almost 4 percent on the day.

dont worry about this dropping moment, i think bitcoin price goes down because of the cancellation of the fork, otherwise some whales are went into the beach by switching into bch for them to getting more profits on it, i think after that event bitcoin price will goes back soon into its normal price and it may pump again as like what happen before.

[BiTZeD]

we can easy be well over 7k in a few days

Yes, exactly. The foolers from Bitcoin Cash are now out of money to lure honest people in their scam, so the price can recover now. Finally !

[serjent05]

I think this kind of fluctuation had happen several times in Bitcoin so this is no news.  This is also the reason why many government are hesitant and wanted to regulate  Bitcoin in their country to protect people of such movement and lose money.  But I believe this is normal with Bitcoin and manipulations from whales always happen.  After this we can see another series of  ATH for Bitcoin toward 10k dollar mark.

[GreenBits]

LONDON (Reuters) - Bitcoin dropped below $7,000 on Friday to trade more than $1,000 down from an all-time high hit on Wednesday, as some traders dumped it for a clone called Bitcoin Cash, sending its value up around a third.
Bitcoin has been on a tear in recent months, with a vertiginous sevenfold increase in value since the start of the year that has led to many warnings the bitcoin market - now worth well over $100 billion - has become a bubble that is about to burst.

It reached a record high of $7,888 around 1800 GMT on Wednesday after a software upgrade planned for next week that could have split the cryptocurrency in a so-called “fork” was suspended.

But it has quickly retreated from that peak, falling to as low as $6,718 around 1330 GMT on Friday. It later recovered a touch to trade around $6,880 by 1645 GMT, but that was still down almost 4 percent on the day.

if you cant take the heat then stay out of the kitchen! this shit has been as or more volatile since its inception; this is far from the worst drop we have experienced, and it will be far fro the last (although I concede as we continue to become increasingly regulated, the volatility will start to fade away, gradually). with all the fact checkers and research budget that media outlets like this have access to, it almost seems to me like they are pushing an agenda when these unenlightened pieces that feign ignorance about bitcoin are published (you are write a piece about bitcoin but yet dont use/understand it?) This isnt an example of that, this is just stat reporting in an article, but I mentioned that to make the point that the media, and its lax/sensational reporting about bitcoin, is partially responsible for the price (the volatility, at least).

[aizen10]

sliding price for over $1000 is not normally happen if theres no huge pump happened. from $4k+ bitcoin price pumped upto $7k+ so dont expect too much that there will be no price drop happens. bitcoin price jump for more than $3k and drop for only $1k, this jump totally affects all people/investors/bitcoin hodler and gain/have more negative thinking for just this drop. lol   how many times that bitcoin proved/proven it self that its own price can be more value than before?