What caused all the price drops?

[Ayamj]

to me this is the best time to buy most coins that has potentials, most people are selling off because of fesatival it will definatly go up next year, my advice is buy and hold

[FireShark89]

no bad news? = this is only a price correction especially for those coins that had a good and long uptrend.

[lelou]

Price correction, it's normal in this unstable world of crypto market and maybe some whales cashing out this holiday season.

[Butchick]

Apparently, there are several reasons why most of the values dropped and one could be due to bitcoin's drop in value. Lately, bitcoin has been experiencing a tremendous drop which somehow affected a lot of altcoins. Another reason could be due to the holidays wherein a lot of people dumped their altcoins for some cash.

[Acguy]

It doesn't take much to go down so that's why you saw a couple billion get shaved off the global market when in reality it could have been maybe less than a billion dollars sold.

[pinoycash]

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

Its Christmas season and most people are converting their coins to fiat to buy gifts and celebrate christmas. Once this season is over bitcoin will rally to another all time high together with alts.

[Sadlife]

After all that long bullish run of crazy price leaps, bitcoin is bound to get corrections sooner or later this is just how the volatile crypto currency world works if panic sell you lose great amounts of profit. Another reason is whales cashing out they're money by selling they're crypto currencies and reinvest, i think this is also a way to shake off those people who sold they're houses to buy bitcoin. Other reason is that its christmas people are cashing out to buy gifts and celebrate Xmas with style.

[qazgroup]

It is normal for the market to correct or dump after a good bull run, i think major factor is the holiday season where the crypto community cashed out from crypto, we will see big volume back in crypto markets in january and big bullish run.

[Speedie]

BTC itself is back to where it was a couple of weeks ago. It has still almost quadrupled in the last 3 months, and at the high it had gone up almost 6x in 3 months. Normal to see a correction after that kind of run, buyers dry up and sellers want to lock in profits. Not the first time, and it won't be the last.

[usorin]

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

It is the direct reaction of the bitcoin price manipulation on the market. What ever happens with bitcoin in the marketplace it will be reflected in the altcoin evolution.

[Antiqua]

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.

yes, i'm aware of that too
and also this is the end of this year, so everyone need to cash out their money to buy gift

After all that long bullish run of crazy price leaps, bitcoin is bound to get corrections sooner or later this is just how the volatile crypto currency world works if panic sell you lose great amounts of profit. Another reason is whales cashing out they're money by selling they're crypto currencies and reinvest, i think this is also a way to shake off those people who sold they're houses to buy bitcoin. Other reason is that its christmas people are cashing out to buy gifts and celebrate Xmas with style.

and also there is a prediction that BTC price will fall down 50% before rise again  

[jackolinyoko]

Everybody will go down if the king has fall,btc moves sideways alts will grow more.

[Teraboy]

It is normal for the market to correct or dump after a good bull run, i think major factor is the holiday season where the crypto community cashed out from crypto, we will see big volume back in crypto markets in january and big bullish run.

Some experts said that about the next big bullrun for the bitcoin will be happening after the big drop for the bitcoin too. It almost touched 50% drop from the all time high price which means around 10k dollar. We may see it soon. but i'd expected that already happened.

[SOHAIB BAIG]

Because of end of the year and crismis whales are dumpng the market and peopl need money and the supply is higher then demand thats the reason

[Haladay]

It is normal for the market to correct or dump after a good bull run, i think major factor is the holiday season where the crypto community cashed out from crypto, we will see big volume back in crypto markets in january and big bullish run.

Some experts said that about the next big bullrun for the bitcoin will be happening after the big drop for the bitcoin too. It almost touched 50% drop from the all time high price which means around 10k dollar. We may see it soon. but i'd expected that already happened.

We will wait patiently to see another major run for bitcoin and other coins. This will take some time, but at the end, ther market cap of eash one will go up drastically. This is my personal belief.

[Endorphinity]

Because of end of the year and crismis whales are dumpng the market and peopl need money and the supply is higher then demand thats the reason

I also think that at the end of the year the crypto-currency market always falls. No need to worry about this. The market will soon recover and the price of bitcoin will grow

[gabbie2010]

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

This is Christmas period majority of investors are exchanging their coins into fiat massively resulting into price drop I.e price correction, however this is not the first major drop in the price of bitcoin, there is tendency that the price will bounce back very soon.

[Sevaev]

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

As a rule, before the New Year, the majority deduce money in dollars, to celebrate the holidays, large amounts are deducted, because of this, the currency falls, after the holidays the infusions will go again and in February the prices will again fly off.

[wklt2002]

if you know what whales means in crypto currency world you probably know why the price goes ups and down / pump and dump..
they create a huge volume of selling points and also false rumors that drives small investors US to pull out resulting to price surge dips hehehe.
that is what I know all much now how price pumps and dumps

Yes I know what a whale is and how whales can greatly affect the prices of all cryptocurrencies, but that doesn't explain the drop of all these currencies at the same time. If it was just one altcoin it would be a valid explanation, but this is a different situation.

[Swinging Phallus]

combination of things. BTCs incredible transaction times and prices. BCH being listed and delisted on GDAX, BTC futures shorting BTC, Whales cashing out at the end of year. It's the usual stuff. Same thing happened in November 2013.