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Author Topic: Why the drop?  (Read 588 times)
sleep_talker
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November 14, 2017, 06:47:55 PM
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I'm not sure I understand, that after getting so high. Why there was a gradual fall in the BTC value?
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tora
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November 14, 2017, 06:53:39 PM
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It was not a gradual drop but a $1500 fall. Bitcoin is now recovering and is at $6500 ob bitfinex at the moment.
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November 14, 2017, 06:56:07 PM
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Probably very similar to what happened a few years ago.  Bitcoin went way up and super fast, and then it slowly corrected itself.  This is what we are seeing now and it will correct itself to probably around 3-4,000 per coin.  What happens next who knows.
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November 14, 2017, 07:00:05 PM
 #4

BTC had a sudden spike that couldn't be maintened in long time so it's correcting itself now.
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November 14, 2017, 07:02:47 PM
 #5

Usually, when a coin has a spike like the one we experienced with BTC, it is normal (and healthy) that it corrects.
So, do not panic  Wink

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November 14, 2017, 07:15:18 PM
 #6

Bitcoin dropped last week but is going up again. It dropped because traders were counting on the fork to get free money. Once the cancellation was announced, they dumped Bitcoin for Bitcoin cash and made big profits. Anyway, this is just a temporary attack. Bitcoin has some problems, like transactions taking too long, that should be solved. Then we'll see it going up again.

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November 14, 2017, 07:22:39 PM
 #7

It's the way the whales get their money Smiley. They sell all their Bitcoin at the peak price then dump it by some ways then buy it back at lower price. You can see few days ago Bitcoin price dumped from nearly 8k$ to 5k5$ really quickly but for now it's being stable aroung 6k5$ because the whales got what they need Smiley)

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November 14, 2017, 07:25:05 PM
 #8

Probably very similar to what happened a few years ago.  Bitcoin went way up and super fast, and then it slowly corrected itself.  This is what we are seeing now and it will correct itself to probably around 3-4,000 per coin.  What happens next who knows.

Would have been nice if it's possible to determine when this will happen although that's probably impossible for small players. I remember selling off a few months ago when the price suddenly spiked, expecting a crash. Didn't happen.
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November 14, 2017, 07:31:53 PM
 #9

Bitcoin Cash and chinese miners.
A lot of people panicked due these rumors about BCH replace bitcoin.
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November 14, 2017, 07:33:37 PM
 #10

Probably very similar to what happened a few years ago.  Bitcoin went way up and super fast, and then it slowly corrected itself.  This is what we are seeing now and it will correct itself to probably around 3-4,000 per coin.  What happens next who knows.

Well some do know particularly those who are manipulating bitcoin prices but I digress. I doubt it will reach 3-4k a coin because that seems a bit low but I would not be surprised if bitcoin reached close to ~5k again.

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November 14, 2017, 07:41:20 PM
 #11

It happens but you wont have to worry about it.
If I were you I would focus on hoarding more.
Remember, Christmas is coming and you dont want to be late in celebrating it even after the New Year's Eve. You might be looking to a better price than what it is before it dropped.

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fabiorem
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November 14, 2017, 07:45:36 PM
 #12

Bitcoin Cash and chinese miners.
A lot of people panicked due these rumors about BCH replace bitcoin.


Nah, it was just Ver and his whales dumping the coins at cheap price.

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November 14, 2017, 07:51:27 PM
 #13

Probably very similar to what happened a few years ago.  Bitcoin went way up and super fast, and then it slowly corrected itself.  This is what we are seeing now and it will correct itself to probably around 3-4,000 per coin.  What happens next who knows.

Well some do know particularly those who are manipulating bitcoin prices but I digress. I doubt it will reach 3-4k a coin because that seems a bit low but I would not be surprised if bitcoin reached close to ~5k again.

Just looking at Math here.  It went from 50 a coin to 1200 a coin back in 2011 or so?  Roughy a 2300% increase right?  Then it went back down to 200 a coin.  Or from the original price it increased roughly 300%

Now it went from 700 a coin to 7,000. Roughly a 900% increase.  If it falls back to 3,000 a coin, roughly it will be a 320% increase..
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November 14, 2017, 07:53:58 PM
 #14

Bitcoin Cash and chinese miners.
A lot of people panicked due these rumors about BCH replace bitcoin.


Nah, it was just Ver and his whales dumping the coins at cheap price.



Yeah, I agree with this one. He pumped up the price so much and everyone followed. They all pushed their money into BCH, BCH hits like 1,900. Now, it's just down at 1300 after a significant drop after the dump. I don't know why people get so scared about bitcoin. I understand the volatility and whatnot makes people uncertain, but they should really look into long term instead of shorting and short term investments....

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November 14, 2017, 07:58:21 PM
 #15

I'm not sure I understand, that after getting so high. Why there was a gradual fall in the BTC value?
I do not know what it is difficult to understand, bitcoin cannot go up indefinitely after reaching such a high price it needed a correction, there are many reasons why that happened but it was going to happen one way or another, the most important thing is the price seems to have reached a floor and the floor is quite high so most of us should be in profit.
Akash1243
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November 14, 2017, 08:05:10 PM
 #16

There were many reason for the drop of bitcoins from around $7600 to $6000 as hard fork Segwit2x was been cancelled which would have increased the block size and reduce a bit of hardwork for miners but it being cancelled many miners switched to bitcoin cash as it is easy to minewhich caused the drop.And also that bitcoins has reached very high is very short span of time so it after the correction it was obvious that price would drop.But now bitcoin is recovering it has almost reached $6600.
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November 14, 2017, 08:12:29 PM
 #17

This is because there were a lot of fud over bitcoin and its forked coin; bitcoin cash, everybody knows that and it is weird to know that you were not aware of that. because we all knew about this.
I think that it will start going up soon, but bitcoin has been at a stable price lately, in just 24 hours it increased from 6500 to 6700, it is not a bad price at all.
I am happy with the last results of bitcoin, it is not a cheap rate if we think about it.

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November 14, 2017, 08:16:23 PM
 #18

Bitcoin dropped, but will soon go up again. It dropped because traders were counting on the fork to get free money. Once the cancellation was announced, they dumped Bitcoin for Bitcoin cash and made big profits. Anyway, this is just a temporary attack. Bitcoin has some problems, like transactions taking too long, that should be solved. Then we'll see it going up again.

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November 14, 2017, 09:07:20 PM
 #19

Bitcoin Cash and chinese miners.
A lot of people panicked due these rumors about BCH replace bitcoin.


Nah, it was just Ver and his whales dumping the coins at cheap price.



Yeah, I agree with this one. He pumped up the price so much and everyone followed. They all pushed their money into BCH, BCH hits like 1,900. Now, it's just down at 1300 after a significant drop after the dump. I don't know why people get so scared about bitcoin. I understand the volatility and whatnot makes people uncertain, but they should really look into long term instead of shorting and short term investments....
Sure, i agree with you guys. but we can't deny that fear was spread.
BCH with higher hashpower, and those huge amount of unconfirmed (legit or not) transactions was scary, without doubt this helped the BTC dump gain strength
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November 14, 2017, 09:11:03 PM
 #20

I'm not sure I understand, that after getting so high. Why there was a gradual fall in the BTC value?

its because more bitcoin holders are dumping their btc and switching to the other altcoins just to earn profits in a short period of time, or maybe btc whales are withdrawing their funds in btc to be exchange into fiat money, there are so many reasons why bitcoin price falls but the main stream is, even theres a dip don't lose faith in bitcoin, because after the dip theres a pump and that's a normal scene you can see in bitcoin.
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