BTC, ETH, LTC dropping November 2017

[iimstevo]

Why are these three cryptocurrencies simultaneously dropping in similar patterns?
I've been watching them for a few days now on my phone, and even the graphical charts are showing massive similarities in the rise and fall of the cost, but the overall cost per coin is dropping and there's no indication online as to why this is happening...

Does anyone have any news articles that describe why these three currencies are all falling in price at the same rates? It can't just be a case of "investors are selling their coins", because the patterns are almost identical at some points across three currencies - the odds of that happening at the exact same time, for the exact quantity of coins to be sold to equal the exact same drop are probably somewhere in the 1:1000000 range.

Everything I've read so far indicates Litecoin will rise in 2018 hitting $300-400 mark, but at the moment it's on a downward change with no real explanation as to why..?

EDIT: I am not making predictions, I am asking about the correlation between these three coins and why they appeared to have the same peaks and falls at the same time over a daily rate.

[fiulpro]

Well what I think is that , people were looking to invest in segwit2x thus they were selling off everything they had to invest in bitcoins.
Thus etherum and litecoin showed a massive decline in their prices.
Now people were investing in segwit2x so they choosed to hold their bitcoins here but now .. simce segwit2x ia called off.. suddenly the bitcoin bubble brusted.
Now those investors are selling off their bitcoins as well because no hard fork means no free money and no need to hold bitcoins, since they were looking for some quick money now they are investing in other cryptocurrencies.

[mifanmuzny]

with segwit cancelled we might see a bit of a drop in BTC

[Psynthax]

with segwit cancelled we might see a bit of a drop in BTC

It's not and you may wrong about that. It seems a bit difficult to determine how the news that gives a lot of huge dump to the bitcoin but i sure about the more FUD that already written by someone in the bitcoin news site like cointelegraph and you can try to read it right now.

[iimstevo]

So maybe this is an amateur question, but isn't BTG (Bitcoin Gold) a fork for Bitcoin to allow for GPU mining again - which in turn creates "free money" anyway? That gets made available tomorrow.

I'm still a little unconvinced as to why the Bitcoin fork for Segwit has affected LTC and ETH, since LTC already has segwit. It comes back to my original question really; why are all three dropping when really it should only be BTC dropping?

[iimstevo]

https://cointelegraph.com/news/bitcoin-classic-shuts-down-as-staff-claim-bitcoin-cash-will-rule-in-6-months

^ this explains why BTC is taking a hit... it doesn't explain the hit with ETH and LTC at almost identical timestamps for percentile drops.

https://cointelegraph.com/news/segwit2x-is-dead-long-live-bitcoin-price-hits-all-time-high-as-hard-fork-canceled

^ this article confirms that the current drops can't be caused solely by segwit2x fork, since when the announcement was made, BTC reached an all-time high.

[Lieldoryn]

Well what I think is that , people were looking to invest in segwit2x thus they were selling off everything they had to invest in bitcoins.
Thus etherum and litecoin showed a massive decline in their prices.
Now people were investing in segwit2x so they choosed to hold their bitcoins here but now .. simce segwit2x ia called off.. suddenly the bitcoin bubble brusted.
Now those investors are selling off their bitcoins as well because no hard fork means no free money and no need to hold bitcoins, since they were looking for some quick money now they are investing in other cryptocurrencies.

Maybe it's the usual game of whales. Just this time they chose another object. All used in such moments, the price rose etherum and litecoin. Now they have changed tactics. In any case, I'm sure that the main object for investment remains bitcoin. Take some time and bitcoin will rise again. Without it will not work the rest of the circuit.

[paparexon0414]

I dont know where this comes from. But i see that crypyto world is where theres is up and mostly down. Even if bitcoin drop, it has its big comeback. People should not be panicking. Its depend on how people will hold it. I guess it will have its downfall if every bitcoin holder will dump their coins. Ethereum is having a big progression. And also for the ltc.

[iimstevo]

Well what I think is that , people were looking to invest in segwit2x thus they were selling off everything they had to invest in bitcoins.
Thus etherum and litecoin showed a massive decline in their prices.
Now people were investing in segwit2x so they choosed to hold their bitcoins here but now .. simce segwit2x ia called off.. suddenly the bitcoin bubble brusted.
Now those investors are selling off their bitcoins as well because no hard fork means no free money and no need to hold bitcoins, since they were looking for some quick money now they are investing in other cryptocurrencies.

Maybe it's the usual game of whales. Just this time they chose another object. All used in such moments, the price rose etherum and litecoin. Now they have changed tactics. In any case, I'm sure that the main object for investment remains bitcoin. Take some time and bitcoin will rise again. Without it will not work the rest of the circuit.

According to one of the above articles I posted, even Bitcoin founders are saying they'll likely be moving over to Bitcoin cash in 2018, which means we really should be looking to invest in BCH.
I did wonder why Bitmain (asic developers) changed their shop to only deal in BCH.

I dont know where this comes from. But i see that crypyto world is where theres is up and mostly down. Even if bitcoin drop, it has its big comeback. People should not be panicking. Its depend on how people will hold it. I guess it will have its downfall if every bitcoin holder will dump their coins. Ethereum is having a big progression. And also for the ltc.

Don't get me wrong, I believe Litecoin is going to have a large rise in the next few months, I'm just curious as to why Bitcoin has directly and simultaneously affected other cryptocurrencies that aren't related to bitcoin (not even on the same algorithm, yet the percentage dips are almost identical across all three, with slight variations).

[appleffi]

Why are these three cryptocurrencies simultaneously dropping in similar patterns?
I've been watching them for a few days now on my phone, and even the graphical charts are showing massive similarities in the rise and fall of the cost, but the overall cost per coin is dropping and there's no indication online as to why this is happening...

Does anyone have any news articles that describe why these three currencies are all falling in price at the same rates? It can't just be a case of "investors are selling their coins", because the patterns are almost identical at some points across three currencies - the odds of that happening at the exact same time, for the exact quantity of coins to be sold to equal the exact same drop are probably somewhere in the 1:1000000 range.

Everything I've read so far indicates Litecoin will rise in 2018 hitting $300-400 mark, but at the moment it's on a downward change with no real explanation as to why..?

I also observed the sudden drop of bitcoin now a days. I also have the same sentiments as yours as to why is it happenning. And thanks to this topic I got to read some of the inputs  on why is it happenning. Will continue to watch this thread for my added awareness about this matter.

[tomahawk9]

https://cointelegraph.com/news/bitcoin-classic-shuts-down-as-staff-claim-bitcoin-cash-will-rule-in-6-months

^ this explains why BTC is taking a hit... it doesn't explain the hit with ETH and LTC at almost identical timestamps for percentile drops.

https://cointelegraph.com/news/segwit2x-is-dead-long-live-bitcoin-price-hits-all-time-high-as-hard-fork-canceled

^ this article confirms that the current drops can't be caused solely by segwit2x fork, since when the announcement was made, BTC reached an all-time high.

The first article explains one of the many reasons why so many people are panicking and moving their BTC to BCH. People go to Cointelegraph, read the news and see "Bitcoin Classic" and their immediate reaction is to think that bitcoin is no more. What most folks don't know is that Bitcoin Classic has nothing to do with Bitcoin or Bitcoin core, this is just a group of people that have been supporting BCH for a long time, a group of people being controlled by the greedy hands of Roger Ver.

Cointelegraph is part of the well coordinated attack on Bitcoin that we are experiencing right now. Just look at the article on Coindesk: "Bitcoin Classic Team to Cease Code Support In Wake of 2x Suspension" and Cointelegraph "Bitcoin Classic Shuts Down As Staff Claim Bitcoin Cash Will Rule ‘In 6 Months'" see the difference?

OP, i'm not sure why the other alts are going down, but BTC? a correction in the price + one of the most vicious attacks on Bitcoin yet, thanks to Roger Ver, Jihan Wu & their friends.

[bitcoinisbest]

BTC has dropped extensively almost 1400$ in a span of 3 days approx which is now started to cause some fears that will btc break 5k levels in coming time. Should people sell some of the btc now and if it dips more buy back or should continue holding the btc and will rise back in a months time?

[sofi@]

They drop because the market needs it after the amazing pump bitcoin made in the month of October I think this is to practice equality when it comes to pricing of bitcoin and all other coins. Bitcoin is unpredictable and what we can only do is watch how it fluctuates save and invest as much as we can and trust that the future of these crypto currencies will go on a success and a very promising price

[ClvrGmr]

Maybe most of the holders of the said coins are starting to do panic selling. This will greatly affect the price of each due to increasing number of coins in the market. But worry not for this prices will bounce back again once everyone starts to hold them again.

[TryNinja]

Bitcoin $6465.98 (-5.34%)
Bitcoin Cash $1252.11 (50.91%)

I imagine that we can correlate the recent Bitcoin Cash jump with the last Bitcoin "crash", right?

IMO looks like there are a lot of money leaving Bitcoin for Bitcoin Cash. I'm not really here to support BCH, but we have more than 115k unconfirmed transactions (and 1095BTC in fees) in the Blockchain (including one I did one hour ago with a fee of 225 sat/byte ($4.18) which is still unconfirmed). This looks scarry, and I can see why people are starting to migrate from BTC to BCH.

[Koadharber]

Why are these three cryptocurrencies simultaneously dropping in similar patterns?
I've been watching them for a few days now on my phone, and even the graphical charts are showing massive similarities in the rise and fall of the cost, but the overall cost per coin is dropping and there's no indication online as to why this is happening...

Does anyone have any news articles that describe why these three currencies are all falling in price at the same rates? It can't just be a case of "investors are selling their coins", because the patterns are almost identical at some points across three currencies - the odds of that happening at the exact same time, for the exact quantity of coins to be sold to equal the exact same drop are probably somewhere in the 1:1000000 range.

Everything I've read so far indicates Litecoin will rise in 2018 hitting $300-400 mark, but at the moment it's on a downward change with no real explanation as to why..?

These kind of question been asked for how many times on where most replies expected to say that theres no one who can find out on whats happening on those movements even we do say that they do have the same on price directions but it doesnt mean that they are correlated to each other and also those coins isnt easy to manipulate knowing that there are lots of investors on each coins specially on bitcoin itself. They wont decide together that they would dump or pump. Theres no such thing why those kind of movements are almost identical and as a trading we should be wise on riding with the flow.

[jekjekman]

Why are these three cryptocurrencies simultaneously dropping in similar patterns?
I've been watching them for a few days now on my phone, and even the graphical charts are showing massive similarities in the rise and fall of the cost, but the overall cost per coin is dropping and there's no indication online as to why this is happening...

Does anyone have any news articles that describe why these three currencies are all falling in price at the same rates? It can't just be a case of "investors are selling their coins", because the patterns are almost identical at some points across three currencies - the odds of that happening at the exact same time, for the exact quantity of coins to be sold to equal the exact same drop are probably somewhere in the 1:1000000 range.

Everything I've read so far indicates Litecoin will rise in 2018 hitting $300-400 mark, but at the moment it's on a downward change with no real explanation as to why..?

Because some of the people that is into trading cryptocurrencies tend to invested their money with this top 3 well known coins that's why it has a big correlations with each other, ETH and LTC also is very much dependent with the price of Bitcoin in my own opinion though. Ethereum is strong and stable with that $300 value though compare to BTC massive increase with this fast few months. Litecoin is seating pretty also with $51-63 price with no signs of massive increase.

[tdrinker]

Why are these three cryptocurrencies simultaneously dropping in similar patterns?
I've been watching them for a few days now on my phone, and even the graphical charts are showing massive similarities in the rise and fall of the cost, but the overall cost per coin is dropping and there's no indication online as to why this is happening...

Does anyone have any news articles that describe why these three currencies are all falling in price at the same rates? It can't just be a case of "investors are selling their coins", because the patterns are almost identical at some points across three currencies - the odds of that happening at the exact same time, for the exact quantity of coins to be sold to equal the exact same drop are probably somewhere in the 1:1000000 range.

Everything I've read so far indicates Litecoin will rise in 2018 hitting $300-400 mark, but at the moment it's on a downward change with no real explanation as to why..?

I think that mostly the major coins follow the trend of bitcoin to a large extent, often times when bitcoin is crashing it causes a fall in confidence across the whole cryptocurrency landscape and so the other major coins fall at the same time, this is what I believe is happening lately, segwit2x caused bitcoin crash and then subsequently the others fell, although only marginally it is worth noting.

[BingoDog]

Altcoins are always in a way tied to bitcoin and we can see that they follow it somehow because their price is usualy determined with bitcoin price. That is the reason of current dump and the reason of bitcoin price dump is all this fuss around fork that was planed for next week and then cancelled. In one word at the moment there is a mess on the market. Bitcoin cash has went up though but that doesn't endanger bitcoin and long term it means nothing.

[Silberman]

Well what I think is that , people were looking to invest in segwit2x thus they were selling off everything they had to invest in bitcoins.
Thus etherum and litecoin showed a massive decline in their prices.
Now people were investing in segwit2x so they choosed to hold their bitcoins here but now .. simce segwit2x ia called off.. suddenly the bitcoin bubble brusted.
Now those investors are selling off their bitcoins as well because no hard fork means no free money and no need to hold bitcoins, since they were looking for some quick money now they are investing in other cryptocurrencies.

I think this is the best explanation, of all the forks that were planned the segwit2x fork seemed like the strongest and people were very eager to get bitcoin in order tog et a part of this new coins and now that that coin has been called off then all the investors that got bitcoin with the intention to get this new coins are selling, some are selling and getting alts while some are just getting out of the market of crypto for some time and that is why we see a decline across the board.