What caused the sudden slump of BTC today?

[AICoin_Official]

Just hours ago, BTC started a sudden downtrend, followed by almost all major coins, what's wrong? The regulation from Europe or the bankruptcy of the south Korean exchange? Feel free to share your analysis here.

Another analysis from Kuang Ren today, and he talks about the reason behind the surge of BCH price, you can find most pairs from global major exchanges here: https://www.aicoin.net.cn/chart/5C79AC2D

Analysis:

Finally, BCH is on its way to setting a new all-time high after having been waiting and hiding for so long, such uptrend is beyond the control of main funds who must dump their chips to pull the price down, which is the worst idea.

Therefore, the only option for them is to push price up. For investors, you can keep your chips.

Full version is here:

https://twitter.com/AICoincom/status/943097519617097728

[Watari]

Well, nothing can't just always go up, right? even btc needs a breather from time to time. also, it's was a minuscule dip, %-wise.

[fabiorem]

Probably the bankruptcy of the south korean exchange.

Also, North Korea is suspect of having unleashed the wannacry virus. They can also be suspect of having hacked this exchange.

And theres the opening of CME. Some bankster might have dumped his coins to drop the price and create a snowball effect in futures. Not gonna work.

[tomahawk9]

I'm pretty sure it was the news of the South Korean exchange 'Youbit' that filed for bankruptcy today after another cyberattack on their platform (they've had one earlier this year), this certainly could've caused some panic among asian crypto traders. I've read that the exchange told their customers they had the chance to withdraw some of their funds, so not everything was lost.

But it seems like the price is going up now, it's +18k already on GDAX, so i think we're back on track.

[YuginKadoya]

In my opinion it is just a correction that is happening right now, and in my opinion it is not a crash like the rest of the FUD that are up in the forum, or the wanna cry Ransomware that is spreading across the North Korea right now it is possible, And other than this I can no think of a good reason why bitcoin price slump down right now.

[Flamaicon]

No biggy guys.
Relax and buy
good time to buy
Always the same wave, the same movement
In 2 days will pump again
20k next weekend and 25k new year

[alyssa85]

It's a combination of news from South Korea and plain old profit taking.

If you've had a good run, it makes sense to take some profits, otherwise your gains are just theoretical. I think $16,000 is a support line, so it will likely bounce between $16,000 and $18,000 to the end of the year.

[Gaaara]

It's a common thing to bitcoin and other crypto since it was been popular its value goes up and down and that thing is inevitable. If there is a total manipulation to the cryptocurrencies the price won't be consistent, but having the price unstable makes it more popular for the investors, so basically no matter how unstable it is bitcoin still gets demand overtime and that is the reason for having such value as of now.

[LFC_Bitcoin]

Eth, Litecoin & BCH are up by a big % today, maybe people are taking profits from bitcoin & pumping alts. That money will likely be pumped back into bitcoin at some point.

[TERA2]

This. . This is NOTHING.  It was not sudden. it moved 5%. Significant btc move's are in the range of 30-80%

[icanscript]

More than a few powerful players poured the cue ball, then bought it from hamsters. This is the standard method for large players.
HODL

[beskid]

The price of Bitcoin increased after the futures on US exchanges started, but today the price is adjusted, Bitcoin trades at a price of about 17,700 dollars.Bitcoin could fall by 50% to the level of value that was observed last month.

[VladKalashnikov]

I think the main reason that bitcoin suddenly dropped below 18k$ is this news.

https://cointelegraph.com/news/bitcoincom-cto-denounces-bitcoin-ive-switched-to-bitcoin-cash

[ahmadakbari]

It's not the first time bitcoin price is falling and the reason is same as previous times. The price is being corrected.
Fluctuations in cryptocuurencies prices are normal.

[PhilippeStevens]

Not that big a dump. -10% that's just normal Tuesday in crypto, nothing to talk about.

[exstasie]

I'm pretty sure it was the news of the South Korean exchange 'Youbit' that filed for bankruptcy today after another cyberattack on their platform (they've had one earlier this year), this certainly could've caused some panic among asian crypto traders. I've read that the exchange told their customers they had the chance to withdraw some of their funds, so not everything was lost.

It seems doubtful that Youbit affected much. I guess the hack got some mainstream press (saw a Reuters article about it), but Bithumb alone does 70% of South Korea's volume. That doesn't leave much for Youbit.

The current action is just consolidation.

This. . This is NOTHING.  It was not sudden. it moved 5%. Significant btc move's are in the range of 30-80%

What are your thoughts here? Expecting a correction? The log trend is rising quickly, so I'm beginning to lose hope that we'll see another dip-buy opportunity before the final euphoric top. Money is pouring into alts.... everything is green right now. Feels like late 2013.

[The_Real_Punisher]

Time for a BCC pump. IN a few days they´ll drop BCC and buy BTC again. Business as usual.

[uslfd]

I hope it would drop more because the rise from 10K to 19K did not see any healthy correction!

[justbfa]

I think it's due to the news that broke out from South Korea about the Youbit cyber attack. But moreover it's normal for the bitcoin market to fluctuate time to time.

[AjithBtc]

South Korean banking issue might have the impact upon bitcoin to some extent. Apart from that I see this to be a pure price manipulation, because the growth has been taking place in a gradual manner after the peak rise with large scale variations. If this is not the price manipulation, then could be a correction phase for the next forward push of the bitcoin price.