What caused all the price drops?

[Emperor of Man]

Big daddy bitcoin does this frequently. Its price gets unstable (bullish or bearish) and the alt pairs suffer the consequences! LoL

[r.bhalla07]

I think mostly people will do a new year holiday without thinking about their trading and they sell and make summary.

[Jedie22]

I would say is a matter of timing many people cash out their bitcoins, since this month is holiday season and many of us planning to buy those foods and thing to be prepared like buying special gifts for our love ones. Also, bitcoin gives tremendous performance on the previous months gaining enough profit for their needs and daily consumption since this month is holiday season.

[master2#]

The end of the year is always a hard time for almost all cryptos

[niisarearning]

It’s price correction where almost maximum funds invested on bitcoin now it’s splitting into other crypto currency still it’s volatile hope in couple of days everything will settle down price will be stable.

[Acguy]

Alts follow bitcoin, it has always been like this.

[shaun98]

It's the end of the year, lots of people are taking their profits now to spend during the holidays and such. It will hopefully recover soon. Meanwhile, buy the dips!

[kayvie]

It’s price correction where almost maximum funds invested on bitcoin now it’s splitting into other crypto currency still it’s volatile hope in couple of days everything will settle down price will be stable.

same thought, due to noise that made by bitcoin this first week of the month, many investors invested all of their funds to bitcoin, then when they already get's profit, those investors goes back to altcoins.

[bitcoindoor]

We have seen this drops before. We have had a few corrections this year and will continue to see more. Could be the whales unloading, the hacks, the bans, etc... There might be new situations affecting the cryptocurrecy market in the next few months but it'll be much higher a year from now...

[vickycoin05]

On my own understanding, the cause all the price drops because most of it relying on the bitcoin. Bitcoin is the dominant crypto currency which almost all the altcoins will depend on the bitcoin. As I observed if the bitcoin will fall and still falling in the other day it may result a panic selling. A panic selling will result almost all the crypto currencies will fall, selling in a cheapest value. Somehow it will back to stabilize due to massive investors and regain the value of bitcoin.

[Hy1085]

the vast majority of bitcoin traders are American, while christmas is an inactive period for funding and investing, so the market is also cooled down.

[otundebis]

Timing and event has very strong influence on the price of cryptocurrency. The end of the year sales is affecting cryptocurrency price. A lot of people are buying stuff for family and friend. There will be a lot of withdraw to fiat this season

[Soots]

As far as my knowledge is concern regarding the caused of price drops is because the bitcoin as a dominat crypto currency dropped. Most altcoins were depend on the bitcoin which is the main reason on the prices dropped. The power of bitcoin are its own users, the early users need to fight to clear the war between banks and bitcoins which also the value fluctuates due to the demand and supply on our society.

[GrannyC]

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

We probably should be asking what caused the price rise in the first place. That is, lots of no-so-smart money comming into play with little thought and plenty of anxiety. Many people out there not being able to tell a support from a hair spray.

[caeles]

The price of cryptocurrencies depends on its flow in the blockchain. I think the cause of price drops of cryptocurrencies is the massive selling of holders. If the holders sell their coins, the price will go down because the supply in the market will be high. As the supply of product or coins increases and the demand decreases, the price will go down. The market needs to balance the flow of transaction so they control the price of the coin so it will not lose its value because if the coin loses its value it will be just dumped and will no longer exist.

[Magister Magus]

Of course after the rise in last weeks a lot of people started to cash, selling currencies.
And as it's the end of the year, probably whales exchange in dollars and moves offshore :-)

[mdzahed134]

Today Bitcoin & alt coin market is increasing.But btc still has not been able to get back 20,000$.2017 is already finished.In January is the best time for btc & there are a lot possibility to btc will be touched 30,000$.

[terbetet]

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

Yes. It is really true that just recently, the prices of different cryptocurrencies including bitcoin touched down into a dump on the prices in which according to what I have read was all mainly caused by the lowering of transaction tradings and demands due to the consecutive holiday events that makes people too much busy that they cannot be able to work into their cryptocurrencies that is why the prices are slowly dumping and the red marks are really hard and painful seeing that the prices are really going down for real.

[bulbolitobayagyag]

Probably the BTC's price movements will have a big impact on the market,if the BTC goes wild normally the alts bleeds.

[anasso]

prices are droping  because bitcoin goes to high and i expect the correction will take long time.

there is also people who cash out to celebrate New Year