Most cryptocoins took a big drop in value today.

[zvv0rd]

As can be seen here: https://i.imgur.com/bOFU5nX.png


Why is this happening?  

https://coinmarketcap.com/
https://www.cryptoglobe.com/latest/2019/01/bitcoins-price-plunges-to-3850-as-crypto-market-loses-8-billion-in-sudden-drop/

[1715193230]

1715193230

[1715193230]

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[GreatBug]

As can be seen here: https://i.imgur.com/bOFU5nX.png


Why is this happening?  

https://coinmarketcap.com/
https://www.cryptoglobe.com/latest/2019/01/bitcoins-price-plunges-to-3850-as-crypto-market-loses-8-billion-in-sudden-drop/

I think, this what we see now, is happening what everyone was afraid of - bear market is not over yet and the market is looking for the bottom.
I hope I'm wrong and this is just a temporary correction.

[Harlot]

I'll just follow what the other members have posted it so far. Price dips like this one is considered normal especially when Bitcoin, the market leader, fails to break the next resistance for some time now confirming that we are still in the bear market. Cryptocurrencies being in the bear market will have more downs than ups as this is when buyer's confidence are at the lowest that is why they are afraid to go and re-test the next resistance that is why they are cashing out as soon as they see they are near the resistance which we have recently is 4,000$+.

[kramchers]

This is what market is, its all about the demand after all.
The fall of the market is due to fall of BTC price OVER USD AGAIN. this is the chain effect.
Only those who stay middle are those who gain BTC value. lets accept the fact then.

[KingScorpio]

As can be seen here: https://i.imgur.com/bOFU5nX.png


Why is this happening?  

https://coinmarketcap.com/
https://www.cryptoglobe.com/latest/2019/01/bitcoins-price-plunges-to-3850-as-crypto-market-loses-8-billion-in-sudden-drop/

there is no such thing as "too big to drop" in pow crypto

[Magkirap]

The dropping price of cryptocoins is normal and until now we still face big drop price of bitcoin. The charts show sudden falling down or drop of the price in market which lead to a big losses. As you can see the price of bitcoin is still at the price of $3600-$3700 and we do not know if bitcoin will escape that price. But, we should believe that bitcoin will escape that price and in the end of this month it will reach the price of $4000.

[avikz]

As can be seen here: https://i.imgur.com/bOFU5nX.png


Why is this happening?  

https://coinmarketcap.com/
https://www.cryptoglobe.com/latest/2019/01/bitcoins-price-plunges-to-3850-as-crypto-market-loses-8-billion-in-sudden-drop/

I won't deny that I am little worried about the price point, but 10-15% is somewhat normal in crypto market, at least it used to be. Percentage wise, the fluctuation is normal but since the price is low, it seems like a big blow!

No one would be able to tell you why it is happening. A price drop can occur for numbers of reasons. Lets not speculate the reason as no one would be able to confirm if the reason is correct or not!

[jointherevolution]

This is small movement and unimportant in the big picture. The market makes moves all the time, searching to find a reason for small moves like this only brings panic. No one will remember this small move in a year's time, that is certain.

[detector]

It's too early to decide because the market still keep moving. AFAIK, we can see the real market in next few month and personally I believe there will be an uptrend !

The dropping price of cryptocoins is normal and until now we still face big drop price of bitcoin. The charts show sudden falling down or drop of the price in market which lead to a big losses. As you can see the price of bitcoin is still at the price of $3600-$3700 and we do not know if bitcoin will escape that price. But, we should believe that bitcoin will escape that price and in the end of this month it will reach the price of $4000.

But as we can see on 2018, it's difficult for crypto especially bitcoin able reach highest value as high as before but hope it will happen !

[tomahawk9]

Perfectly normal market behaviour in a bear market. We've experiencing the same pattern for the past few months so this drop today shouldn't be surprising to anyone who's been for at least a couple of months. As for a reason, you can't exactly pinpoint the reason behind such a drop, we can only speculate, for instance, a big whale decided to sell a big chunk of btc to take some profits, or several whales decided to trigger a sell-off so that other whales can buy cheap, or perhaps some news or FUD is going around which is making people sell...it's really difficult to say for certain what's happening right now, best you can do right now is either hold your coins or buy cheap coins.

[Sutters Mill]

Markets move, that's what they do, be it up, sideways or down. Right now we're getting dumped on hard, we can either accumulate more, hodl or sell.

This is all that really needs to be said on the matter. I can never fathom why people keep asking the same "why" question each time the price goes down because it's always the same answer. It all comes down to demand. The massive drops are always due to panic sellers though doing what they do best and panicing but when there's people selling there has to be people buying and it's those people who still have faith in bitcoin and know the score - bitcoin goes up and bitcoin goes down and there's usually always profit to be made in that. It was already up a few hundred dollars from a couple of weeks ago and I'm sure it will be the same in X time from now.

[ynatopak14]

Bitcoin fall again at around 3,800 USD from more than 4,000.
This is the big reason why most coin are dropping or drop in price again.
They are all connected with bitcoin in the market. that is the big WHY!

[zvv0rd]

I agree with you guys - but notice that (almost) every single coin dropped at the exact same time, losing around 10-15% of its value.
I find that interesting.

[KuyaBreezy]

It seems that the market is permanently unstable, one day goes up 200 and the other goes down 400, we should be used to it and this does not have to be news, cryptos have always been so volatile, especially now that there is much speculation in the market.

[Pumared]

I believe it was just the marketplace acting. the trend may be bear, but I still believe in the bull

[HiDevin]

Crypto is literally like this every week. It always drops 10% or rise 10% there's barely a time where it just stays stagnant for a while.

Mine as well keep holding or buying some more bitcoin if you really want. People are just panic selling or sick of crypto making them lose their life savings lol.

[Kemarit]

I think, this what we see now, is happening what everyone was afraid of - bear market is not over yet and the market is looking for the bottom.
I hope I'm wrong and this is just a temporary correction.

Definitely we're not out of the bear market yet as others might have wanted to be. It's been trying to go as to break that $4200 barrier in the last couple of days but it seems that there's a lot of resistance and it didn't hold that's why we see another market correction. This goes to show how volatile the market is, difficult to predict. This could just be another correction, as the bullish flag pattern didn't hold.

[mohammedmattar]

As can be seen here: https://i.imgur.com/bOFU5nX.png


Why is this happening?  

https://coinmarketcap.com/
https://www.cryptoglobe.com/latest/2019/01/bitcoins-price-plunges-to-3850-as-crypto-market-loses-8-billion-in-sudden-drop/

The drop may be due to the correction
BTC failed to exceed the resistance line and this is a natural result
And do not forget that we are Friday night
Yes landing is not a little ($ 400)
But the coming hours will tell us a lot.

[aoluain]

For every big drop there is a big rise and visa-versa. If you check any
historical graph for any crypto coin you will be able to identify any
countless amounts of such movements. When you are around this
space for a longer time you will realise it happens regularly.

[Oceat]

Now it's dropping again, bear market is not over yet. The market is not yet ready for the bull run and it could be seeking for another bottom again. But the way i see it, this is still a reasonable price and not yet too deep from before's price.

That bull trap i was guessing before was real, maybe it could bounce back again after this dip.