What caused all the price drops?

[GrannyC]

Almost all the altcoins (and bitcoin too) went down alot yesterday. Does anybody have a clue what caused this major drop?

It is obviously a correction, and I would say that it is not enough for a future healthy grow. I would expect further drops in the new year because even for an upcoming class of asset, many coins and tokens are overvalued at the moment.

[wklt2002]

Well it was Bitcoin that caused all the other altcoins to drop after.

But from my conclusion, it was the news and hype that was spreading negativity about Bitcoin being a big bubble that could burst anytime brought fear to many investors made it drop. The Korean exchange hack and the release of Bitcoin Cash on Coinbase were also the reasons for the Bitcoin drop.


It's all looking good now though Bitcoin and altcoins are recovering again.

And now they are going down again  About the Bitcoin cash being added to coinbase part of your explanation, didn't Bitcoin cash go down just as hard as Bitcoin? (In percentages obviously)

[kolitski]

Everything has a possible to drop the prices of all coins but i think the caused of dropping the prices is more on supply in the market in crypto currency, Somehow there are scamming in exchanges websites.

[weav]

Probably new investors getting scared and panic selling , maybe some people need money for the holidays.
I expect it to go up in January again.

[idunets]

Almost all the altcoins (and bitcoin too) went down alot yesterday. Does anybody have a clue what caused this major drop?

to many things at the same time... very bad speculations... too many people speculated dump of bitcoin to 3k usd (inc. founder of bitcoin.com)... people who has sold more, are holders of 40% of all bitcoins... (big players), some try to make some cash on the second wave of correction... also don't forget that the shareholders' meeting! panic of new blood and of course, holidays!

This was the great chance to buy some BTC by 10.5k$

[jyotianand01]

Year end is a holiday and festive time for many people and they sell to enjoy their holiday time. New year will give a big rally in the market again. Corrections comes always after a big rally and same happening in bitcoin.

[Ararbermas]

Almost all the altcoins (and bitcoin too) went down alot yesterday. Does anybody have a clue what caused this major drop?

its to hard to predict what are reason behind this,  which is why all of the currency fall down on this week. I have doubts maybe some of the bitcoin holders get panic selling to convert their bitcoin to fiat now adays for the Christmas celebration. And buy again to hold more for 2018, maybe not? Anyway mybae this is just a correction . lets buy also maybe it will rocketed again in 2018.

[cheezcarls]

In my own opinion, I think it's because it's holidays. People are withdrawing their BTC and other altcoins just to buy gifts for their loved ones. Another possible reason is that some of them have withdrawn their BTC for BCH. I could be wrong with my assumption, but who knows?

Even though that it's holidays, I decided to hold on to my coins as I'm just cashing out some of my few "Paypal coins" for buying gifts to my family and relatives.

[rizkyfebrian213xx]

maybe they need money for shopping..
you know , tomorrow is christmas and 1 weeks after that.. new year 2018
usually happen "price drops" in last year

[Usui-Chan]

It is because people are afraid to risk and are too gullible to believe that bitcoin is a bubble and will burst really soon after it price went too high, cashing out everything they had to save them from losses for this event. Next thing is the hack issue, I do not claim perfect knowledge but I think when that exchange market got hacked, things also went down, not just bitcoin's price but also those altcoin that depends and does not depend on bitcoin. Lastly, since it is christmas, people are getting some money out to buy their loved ones some present (which I did not do because I was not able to withdraw before the price dropped).

Nevertheless, bitcoin is regaining what its value really is, or at least, stabilizing at the price of 15k. Some altcoins are increasing their value with respect to bitcoin's so I think it is the perfect time to invest and hodl until next year where bitcoin will reign again and investors will go crazy about it.

[Freyya08]

There are so many factors that affected the price drop of altcoins. One possible reason would be because of bitcoin, bitcoin value has been dropong over the last days which led to the values of atlcoins dancing from high to low or the other way around. Due to bitcoin's drop, altcoin values became more and more unstable.

[kumara]

Almost all the altcoins (and bitcoin too) went down alot yesterday. Does anybody have a clue what caused this major drop?

Yeah the end of the year, big investors are pulling out to meet budgets, and futures market putting a choke on BTC scaring people off.

[calandra78]

I think there are several factors that can lead to all prices in crypto down drastically to even one of them when someone knows their plummeting prices directly took off all of the bitcoin they have for fear prices will further drop from previous or running costs too high, until the announcement of the ban on using bitcoin by a country. but all the possibilities that we can not predictions in this crypto digital currencies.
 

[lionelho]

The only reason is they already rose a lot. When crowd rushed in, it's the time for big whale to sale.

[sinduarianto]

In my opinion, one of the reasons why Bitcoin and Altcoin go down is because a lot of people are selling their coins for necessities because Bitcoin prices are high enough to buy big day fixtures.

[ipanks]

Almost all the altcoins (and bitcoin too) went down alot yesterday. Does anybody have a clue what caused this major drop?

I guess every people that make a profit want to sell their bitcoin to fiat and withdraw that money because we are at the end of the year. this makes the price is down a lot and I think this is related to the correction of bitcoin. besides that, with these situations, makes other people get panic because they cannot sell to make a profit and they are thinking that if they still hold, then they can get lost so they decide to sell some amount of their coin to avoid more loses.

[knacks.knick3]

Too many factors to determine the downfall but if bitcoin is here to stay 5 more years its still good to buy on price drops.

[tree1100hn]

BTC fell, but instead of altcoin not down, and now a good alternative altcoin exchange BTC prices also rose, feeling now to buy altcoin is not worth it, it should be the first to buy BTC, has been buying more BTC in wallet, and so on altcoin to buy. Therefore, BTC is a good thing to drop, good time to bargain BTC. Haha, pay close attention to BTC, do not blindly bargain now! Because the price has not reached the bottom ah

[Bastime]

A massive dump for cash is one of the main reasons why there's a mega cryptocurrency dropping this third week of the month. Seems people choose to get cash and buy some special items as a gift for loved ones in this special holiday season.

[Bastime]

Too many factors to determine the downfall but if bitcoin is here to stay 5 more years its still good to buy on price drops.

Even though there's a mega dropping off cryptocurrencies this past days but this is the best time for investors and traders to buy more because price is cheaper and as soon as they're cheaper they will gain profit in just a matter of days or a single week.