What caused all the price drops?

[pedropendukot]

Usually if the BTC moves up or down almost all of the alts bleeds,but then btc stablized alts grow.

[Tashi]

The reason why the prices are dropping is because the people are selling and cashing out. Obviously, the holidays are the top main reason wht people are cashing out causing the price to drop.

[ChrisSand]

The reason why the price is dropping is because of people who are selling their coins right now to use for the holidays. Also to add, that there are some people panicking of a sudden price drop and decided to cash out.

[Shaminyue]

Yup...everyone need to convert cryptocurrency into cash for their year end, i thought but I think the price will go up in the next few week

[dsaijz03]

Maybe because of the massive sell of crypto due to its needs of cash to pay depths since it is now end of the year.

[bulbolitobayagyag]

The high volatile market plus BTC's crash caused the altcoins price drop,and the christmas cashout affects too.

[awazieik]

People needed money for Christmas and the Holidays so the dumped the coins for this reason

[Requim]

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

Practically, all the cryptocurrencies are just pulling each other's value. In our economics subject, we learned that when one rises, others must fall first. The same principle applies in the cryptocurrencies, this is why when bitcoin's value is low others rises or vice versa.

[cryptomngr]

Probably the BTC's price movements today,the 15k hard resistance just broke and it is expected more investors will switch to BTC from now.

[macchiato]

Of all the digital coins here in crypto world, bitcoin is the most influential of all. It's price deviation greatly affects other coins. For instance, these past weeks bitcoin grew very large which made altcoins like ethereum to pump as well. The moment is dumped, ethereum dumped too. Conceptually, price fluctuates because of the law of demand and supply.

[TedNarrative]

Price drops are perfectly normal when you have huge run-ups in price. It's quite healthy actually.

[Sevaev]

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

Obviously, there is a drain of coins before the new year and Christmas, people deduce in fiat money, everyone wants to celebrate. After the holidays, capitalization will again grow.

[DigitalLemming]

There are too many new investors, you have the tree sometimes to remove the dead leafs . Whales and seasoned investors know this. Basically hoards of new people sign up everyday to buy bitcoin and alts. I think exchanges said they are getting upwards of 100k new people daily. Most don't know how to invest, day after day they mindlessly buy pumps and then when the investors that purchased before the pump begin to sell off and take profit the new buyers begin to panic are try to cut losses. This causes more panic because the people that just bought the peak are losing money so they sell at the loss. The market takes a dump and the experienced investors are waiting to buy the bottom. After the last weak hands get shaken out the price begins to fly back up. The weak hands lose money and the smart investors make profits. The cycle continues over and over.

[rain3798]

Well I think it was because of the holidays, yes of course many people will cash out because there are Christmas and new year so it would be the reason that all the prices will drop. After the holidays, you'll see that it will go back to normal, it's price will high again. You see the holidays affects the price in the market.

[abhishekkapoor]

it seems that the money flow is flowing to Bitcoin or USDT. People want to get new coin from hardfolk and they exchange their altcoins to Bitcoin.

[Easx]

Current situation same like previous rumor of segwit . Bitcoin and altcoins drop a lot. And due to the cancellation, parabolic grows lot of them. I think same scenario on this week

[LUCKY21]

This is the crypto currency market. Continuous manipulation and speculation on this. The reason for the fall to some extent is the end of the year. Many fixed profits in deduce it.

[stan_]

The end of the year, traders are fixing their profits of the year, and withdrawn money for holidays , Christmas and New Year gifts.
So this is normal that price dropped.In 2018 it will go top again.
Regards.

[coingrow]

IF you are talking about the price drop in the value of bitcoin then it was not exactly a drop in price but a very healthy correction that was much required for bitcoin to continue its further growth towards 100k! Also it was a great buying opportunity for anyone who have not joined the crypto revolution yet.

[Layonk]

The end of the year, whales are fixing their profits and move money to offshores  We can still get 2nd round of correction and new rally will start in new year. 

I believe this happen. Mostly people are closing everything specially whales.
They will do a new year holiday without thinking about their trding or imveatment. So they sell and make summary and finally holiday.