Reason behind Bitcoin Dip (Crash)

[suvo05]

The possibility that bitcoin is suppressed by the altcoins is very less. Maximum of the altcoins are also decreasing in price .
 That may be a major price correction or because of the festive season. Another reason could be the Bitcoin network is currently facing some issue confirmation times are longer and miner’s fees for transactions are higher.

[SerMeric]

I dont think its a crash. This is the end of a year so people maybe cashing out to pay their tax debts, buying new year presents or maybe they are too scared and want to see what new year brings... don't worry, dont sell, buy more if possible (not a financial advise tho.)

[moppidoo]

It's scary because it coincided with the massive transaction backlog, but the fact that even alts are down means it's probably normal market movement. Honestly though, if Bitcoin dies here, so does everything else. Altcoins can't handle much more transactions and suffer the same scaling issues.

While we're on the topic of the massive amount of transactions, it also coincided with a Bitcoin Cash pump and a Bitcoin Cash player making a move. It was Roger Ver moving his Bitcoins then, it's Oldenburg dumping now. This could be another coordinated attack. If it is, then things should blow over after a few weeks.

That's what I have in mind too, almost every altcoin is valued against bitcoin and to USD, several times it's shown that when bitcoin climbs up and stays stable for a few days, alts would start catching up, but it would only take a day or 2 at most to see a sea of red with people panic sells everything.

For the cryptocurrency space, they can certainly grow in much peace as a whole ideally, but greed is the cause that people such as the Bitcoin LuCi Fer (Roger Ver?) and his minions constantly launching attack against BTC and spreading FUD every other day along with companies (who are unfortunately all about making money instead of pursuing harmony and cooperative development/growth of the entire crypto world as whole). These people won't stop because they take advantage of general public (new comers) fears and they'll do it over and over again since they have the resources to fabricate and manipulate the market and the FUD they spread and people will keep falling for it, thus needless to over-react, when you are at the bottom, there's only one way to go right?

[Victorycoin]

Its a normal correction. Nothing to stress about. People sell for various reasons. Remember now that the whales and institutional money is in, they control the price right now. Infact we do deserve a correction, the price has been going up at a ridiculous pace. I wouldnt withdraw unless you really need the money. I am currently looking for coins to buy. So I have no plans to sell.

It is ridiculous how people expect that after the sudden skyrocketing in the price of Bitcoin, it would hold out there! Truth of the matter is that no market ever works that way. After a market is overbought, it naturally reverses until it becomes oversold and the cycle goes on.  

Bitcoin have long been  overbought and except for the emotionally attached traders, this correction has been long coming and having to come at the ending of the year, when traders usually wind off, is rather a strong indication of what bullish pressure had been behind Bitcoin.

The development might be a crash and end of the road for Bitcoin for all the Fudsters, but the announcement of the death of Bitcoin is now nothing  new, my priority right now shifts to identification of dips and securing of more profits for 2018.

[Wendigo]

People with a lot of money invested found out that the Bitcoin network is trash. They cashed in on their huge profits and looked elsewhere to reinvest. Bitcoin loses near 50% value overnight and mass panic ensues over on Bitcointalk 

[Jating]

I would like to understand the main reason behind the bitcoin dip/crash (whatever it may be). Currently BTC is trading at 12.5K on preev.com, and I am beginning to become scared as to what the near future may hold for bitcoin.

Is this a Bitcoin crash? Or is it a crypto crash too? Is it just the holiday season or something else? We can also see on coinmarketcap.com that in essence, almost ALL alt-coins are also down by a similar amount in %.

My best guess is that people just want to cash it out at this very moment. Holidays is just around the corner, so maybe we can attribute this current "crash" to it. I initially thought that bitcoin crash because investors are testing altcoins market, but altcoin is also crumbling. So I deduce that investors want to take profit at this occasions.

Hold or sell, what do you think?

Your choice mate. Personally, I have sold mine (everything) when the price surpasses $19K. I already taken the profits, but I'm getting back once more. It's really a perfect time to buy and because it's like a bargain. I say let's give the crypto's a few days, crashes are temporary, we all know that bitcoin has the ability to comeback and even go further from its previous all-time-high.

PS: Please don't just spam this thread with:"Sell now, it will crash" or "Don't worry, it will go up". Base your points on facts that drive the discussion forward, not just general terms that have been already written down many times before.

Just my .2BTC

[michkima]

It's just basically a correction since bitcoins has went up tremendously in the past couple of weeks. This is just a normal thing that usually happens with bitcoins whenever it goes up really quick. Two things might happen, it could stay at this level or it could possibly go back up to $20,000 and go past that level of trading again. Who knows, it's pretty hard to predict when it does go up and down.

[mineworker]

Should I sell or hold? Right now sincere advise needed.

GTHO. (Get The Hell Out)

Idiot.

Its a correction simple as that. The increase in media exposure and adoption from new investors was more than it could cope with.

[Juggy777]

I would like to understand the main reason behind the bitcoin dip/crash (whatever it may be). Currently BTC is trading at 12.5K on preev.com, and I am beginning to become scared as to what the near future may hold for bitcoin.

Is this a Bitcoin crash? Or is it a crypto crash too? Is it just the holiday season or something else? We can also see on coinmarketcap.com that in essence, almost ALL alt-coins are also down by a similar amount in %.

Hold or sell, what do you think?

PS: Please don't just spam this thread with:"Sell now, it will crash" or "Don't worry, it will go up". Base your points on facts that drive the discussion forward, not just general terms that have been already written down many times before.

Every time Bitcoins crashes, this kind of questions rises, no this is don't you worry child it won't crash or sell reply, just hold your horse's op, Bitcoin crashed last time to when segwit2x was announced, couple with Rogers selling his coins, panic was about to set In, just check the charts after every such news Bitcoins bounces 300 - 500% and so it shall. That's the history of Bitcoin, just look at the charts and you'll get your answer.

[grumpygit]

I would like to understand the main reason behind the bitcoin dip/crash (whatever it may be). Currently BTC is trading at 12.5K on preev.com, and I am beginning to become scared as to what the near future may hold for bitcoin.

Is this a Bitcoin crash? Or is it a crypto crash too? Is it just the holiday season or something else? We can also see on coinmarketcap.com that in essence, almost ALL alt-coins are also down by a similar amount in %.

Hold or sell, what do you think?

PS: Please don't just spam this thread with:"Sell now, it will crash" or "Don't worry, it will go up". Base your points on facts that drive the discussion forward, not just general terms that have been already written down many times before.

There is no particular bad news out there that warrants a big drop except one, and that is after a brilliant year some of the day traders are now taking profits, risky profits I might add. I have been here before and worse, in the early years where I held Bitcoin I nearly took fright and pulled out, I held me nerve though.

Bitcoin is just finding a new floor now, and once it does it takes little time for it to start rising again. The strong good fundamentals behind Bitcoin remain, have faith. I have always been buy and hold and am irritated, but except day traders . Put things in perspective and remember where Bitcoin was at the start of the year

[soham]

I don't think it is a correction. I think it is due to the obvious limitations of the coin, victim of its own success. The coin was not prepared for mass adoption (and I say "mass adoption" but it is very far from being the case now, obviously).
Fees (in Bitcoin):
2 years ago, 25 to 30 btc a day
1 year ago, 65 to 80 btc a day,
today, 150 to 210 btc a day, that's around +600 % in 2 years, absolutely shocking. It is way too expensive.

A shame because the concept of Bitcoin is great, but it is technologically limited.

I too agree with your points. The fees has gone up to an insane level which makes conventional banking transactions look good. Bitcoin initially started as a peer to peer decentralised currency system but the fees is taking it out from the main goal of being a currency system. That is the reason why people are preferring other coins like ETH or Ripple to transact funds pushing their price to the next level. The network congestion and higher fees are the reasons of bitcoin's price dip.

[momopi]

Not sure but one that affected is how media present bitcoin and other Cryptocurrencies to the people. After the sudden peak of bitcoin, I noticed that most media release "bubble issue" on bitcoin. That's why those who aren't really familiar with bitcoin withdraw their coins unexpectedly.

[marc_a]

When the Bitcoin is reaching 20k, everybody is screaming is this too high. Its time for a correction. When it actually is hapening everybody is in panic.
I understand when you got in late, you now lost some money. Most of the peopel are still in the plus. I dont think anybody is really worrying.

[Alpha0One1]

Probably just a cycle since almost every December money is being pulled out of crypto then comes back in on January. Anyway, well see.
I'll just hodl.

[bitPico]

We sold ALLOT for fiat in order to buy physical properties. Seeing almost 2000 percent returns in 365 days leaves little motivation to hodl. A good buy back in (if you care) is 11,000 USD. We won’t be buying back into Bitcoin or any other cryptocurrencies; they all needs time to grow up...

[ivrynx]

I am also considering the season we are in now, it is christmas and normally people will not care how much money will they burn, as lon as they can see everybody happy, when we breached 20k usd, the transactions we're already updated though it.has reached that high, there was more congestion, unlike before reaching 17-19k usd. One thing i also see, is an opportunistic approach to increase bitcoin cash, the founder of bitcoin.com, sold his bitcoins in order to increase the value of bitcoin cash, and the news on youbit, a sokor exchange, which the media spread like wildfire.

[TTITA]

I would like to understand the main reason behind the bitcoin dip/crash (whatever it may be). Currently BTC is trading at 12.5K on preev.com, and I am beginning to become scared as to what the near future may hold for bitcoin.

Is this a Bitcoin crash? Or is it a crypto crash too? Is it just the holiday season or something else? We can also see on coinmarketcap.com that in essence, almost ALL alt-coins are also down by a similar amount in %.

Hold or sell, what do you think?

PS: Please don't just spam this thread with:"Sell now, it will crash" or "Don't worry, it will go up". Base your points on facts that drive the discussion forward, not just general terms that have been already written down many times before.

Almost coins are down, last 24h coinmarketcap.com/coins, volume trading includes Eth, Xrp, BCH, Ltc, Iota and many more was negative down. I'm sure this nothing related with holiday or Christmas coming. But i'm sure this because of the declining bitcoin prices and blockchain network busy for 1 week, many people are worried will getting stuck in same pending transactions. Constraints on bitcoin affect much of this, people starting to lose trust and turn them coins into fiat.

[Gis15]

At the end of the year is usually often going up and down the price, when bitcoin is down there's nothing wrong we invest our dibitcon and seek profits at the time the price rises

[Harrisonimo]

I would like to understand the main reason behind the bitcoin dip/crash (whatever it may be). Currently BTC is trading at 12.5K on preev.com, and I am beginning to become scared as to what the near future may hold for bitcoin.

Is this a Bitcoin crash? Or is it a crypto crash too? Is it just the holiday season or something else? We can also see on coinmarketcap.com that in essence, almost ALL alt-coins are also down by a similar amount in %.

Hold or sell, what do you think?

PS: Please don't just spam this thread with:"Sell now, it will crash" or "Don't worry, it will go up". Base your points on facts that drive the discussion forward, not just general terms that have been already written down many times before.

The major reason for the present dip I will go with is the reason of people selling of to get fiat at this festive period. It is very well quite expected but the extent of the dip isn't known yet. I believe a balance will be when the level of supply meets the level of demand and maintained over a period of time. There are quite a handful of person waiting for the dip so as to be able to buy into Bitcoins again and also considering the influx of new adoptors which is increasing too.

[heartrodriguez28]

What started out as profit taking for some people, ended up as a sell-off due to fear by new entrants who bought near the peak. Now, it's a chain effect with a strong momentum still.